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Florida is a state located in the southeastern region of the United States. The state is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Atlantic Ocean, and to the south by the Straits of Florida. Florida has a total area of 65,757.70 square miles (170,312 km2), ranking 22nd largest state in the USA.
As of 2019, the gross state product (GSP) is about $1.1 trillion, the fourth largest economy in the United States. Florida is responsible for 5% of the United States’ approximately $21 trillion gross domestic product (GDP).
The five largest sectors of employment in Florida are: trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In output, the five largest sectors are: finance, insurance, real estate, rental, and leasing, followed by professional and business services; government and government enterprises; educational services, health care, and social assistance; and retail trade.
| Limited Liability Company (LLC) | Corporation (C- Corp and S-Corp) | |
|---|---|---|
| Corporate Tax Rate | Florida corporate income and franchise tax rate were reduced from 5.5% to 4.458% for tax years beginning in 2019, 2020 and 2021. |
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| Company Name | A corporate name must contain the words “limited liability company”, “L.L.C”, or “LLC”. The corporate name may not contain a word or phrase that indicates or implies that the corporation is organized for a purpose other than the purpose contained in its articles of incorporation. A corporate name must be distinguishable upon the record. |
The term “Corporation” refers to a legal and separate entity from its owner, in addition to limited liability which means the company’s shareholders are not individually liable for the company’s debts, and the profits they receive come in the form of dividends and stock appreciation. Any individuals and/or other entities can own a corporation and the ownership process is easily transferable via the trading of stock. Corporation is categorized into either C-Corp or S-Corp which each has its own advantages for the business owners. Between these two, C-Corp is the more common corporation choice for business owners. |
| Board of Directors | An LLC must have at least one manager and one member. The manager(s)/member(s) can be of any nationality. |
A corporation must have at least one shareholder and one director. The shareholder(s)/director(s) can be of any nationality. |
| Other requirement | Annual Report: LLCs in Florida are required to file an Annual report between Jan 1st and May 1st. Registered Agent: Florida requires a registered agent and a registered office for every Florida LLC. A registered agent is designated to receive official legal documents for your LLC, such as lawsuit papers, contracts, and other notices. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. |
Annual Report: LLCs in Florida are required to file an Annual report between Jan 1st and May 1st. Officers: The Articles of Incorporation does not record names and addresses. Stock: The information about authorized shares and the number of shares or par value will be listed in the Certificate of Incorporation. Registered Agent: The Florida corporations must have a physical address in Florida to receive legal and tax documents for the business. Employer Identification Number (EIN): An EIN is required for corporations that have employees. Furthermore, most banks will require an EIN if the business owner wants to open a business bank account. |
You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Florida is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support services.
| Limited Liability Company (LLC) | From US$ 599 | |
| Corporation (C- Corp and S-Corp) | From US$ 599 |
| General Information | |
|---|---|
| Type of Business Entity | Limited Liability Company (LLC) |
| Corporate Income Tax | Yes – 4.458% |
| British Based Legal System | No |
| Double Tax Treaty Access | No |
| Incorporation Time Frame (Approx., days) | 2 – 3 working days |
| Corporate Requirements | |
|---|---|
| Minimum Number of Shareholders | 1 |
| Minimum Number of Directors | 1 |
| Corporate Directors Permitted | Yes |
| Standard Authorized Capital/Shares | N/A |
| Local Requirements | |
|---|---|
| Registered Office/ Registered Agent | Yes |
| Company Secretary | Yes |
| Local Meetings | No |
| Local Directors / Shareholders | No |
| Publicly Accessible Records | Yes |
| Annual Requirements | |
|---|---|
| Annual Return | Yes |
| Audited Accounts | Yes |
| Incorporation Fees | |
|---|---|
| Our Service Fee (1st year) | US$ 599 |
| Government fee & Service charged | US$ 450 |
| Annual Renewal Fees | |
|---|---|
| Our Service Fee (year 2+) | US$ 499 |
| Government fee & Service charged | US$ 450 |
| General Information | |
|---|---|
| Type of Business Entity | Corporation (C-Corp or S-Corp) |
| Corporate Income Tax | Yes – 4.458% |
| British Based Legal System | No |
| Double Tax Treaty Access | No |
| Incorporation Time Frame (Approx., days) | 2 – 3 working days |
| Corporate Requirements | |
|---|---|
| Minimum Number of Shareholders | 1 |
| Minimum Number of Directors | 1 |
| Corporate Directors Permitted | Yes |
| Standard Authorized Capital/Shares | N/A |
| Local Requirements | |
|---|---|
| Registered Office/ Registered Agent | Yes |
| Company Secretary | Yes |
| Local Meetings | No |
| Local Directors / Shareholders | No |
| Publicly Accessible Records | Yes |
| Annual Requirements | |
|---|---|
| Annual Return | Yes |
| Audited Accounts | Yes |
| Incorporation Fees | |
|---|---|
| Our Service Fee (1st year) | US$ 599 |
| Government fee & Service charged | US$ 500 |
| Annual Renewal Fees | |
|---|---|
| Our Service Fee (year 2+) | US$ 499 |
| Government fee & Service charged | US$ 500 |
| Services and Documents Provided | Status |
|---|---|
| Agent Fee |  |
| Name Check | |
| Preparation of Articles | |
| Same-day Electronic Filing | |
| Certificate of Formation | |
| Digital Copy of Documents | |
| Digital Corporate Seal | |
| Lifetime Customer Support | |
| One Complete Year (12 Full Months) of Florida Registered Agent Service | |
| Certificate of Incorporation | Status |
|---|---|
| Submission of all documents to the Financial Services Commission (FSC) and attending to any clarifications on the structure and applications required. | |
| Submission of application to the Registrar of Companies | |
To incorporate a Florida company, the client is required to pay the Government Fee, US$ 450, including:
| Description | Download |
|---|---|
| Application for Limited Company
PDF | 1.91 MB | Updated time: 14 Mar, 2020, 10:45 (UTC+08:00)
Application form for Limited Company processing |
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| Application Formation Form LLP LLC
PDF | 1.80 MB | Updated time: 03 Jan, 2020, 12:24 (UTC+08:00)
Application Formation Form LLP LLC |
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| Description | Download |
|---|---|
| Business Plan Form
PDF | 1,015.78 kB | Updated time: 04 Jan, 2020, 11:16 (UTC+08:00)
Business Plan Form for Company Incorporation |
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| Description | Contact Us |
|---|---|
| Information Update Form
PDF | 5.52 MB | Updated time: 06 Jan, 2020, 11:48 (UTC+08:00)
Information Update Form for completing the Registry’s statutory requirements |
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| Description | Download |
|---|---|
| Florida (C-Corp or S-Corp) Rate card
PDF | 474.26 kB | Updated time: 31 Dec, 2020, 11:34 (UTC+08:00)
Basic Features and Standard Price for Florida (C-Corp or S-Corp) |
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| Florida LLC Rate card
PDF | 472.04 kB | Updated time: 31 Dec, 2020, 11:34 (UTC+08:00)
Basic Features and Standard Price for Florida LLC |
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