Florida Company Formation Requirements
What are the company formation requirements in Florida? The first step in incorporating a company in Florida is obtaining approval for your company’s name. It must differ from any of the previously-registered entities in the Florida Department of State.
What are the other requirements for Florida company formation?
Shareholders can be from any country, except in cases where you are forming an ‘S’ corporation, which requires shareholders to be US citizens or residents, as ‘S’ corporation shareholders are deemed the company’s owners. Corporate owners may also be shareholders. The company-appointed officers are the President and CEO, Secretary, Treasurer and Vice Presidents.
The Florida company formation requirements expect the following documentation for successful incorporation:
- Foreign corporations must file the Application By Foreign Corporation for Authorization to Transact Business In Florida
- Bylaws; while you do not submit these to the state, you will need them to organise your entity and open a bank account
- Annual reports to maintain status by 1 May of the following year or risk a $400 fine.
- Registered local agent and office (your corporate address can be a PO Box)
- Profit Articles of Incorporation
- Employer Identification Number (EIN)
- Local Business Tax Receipt paid in the county you choose to register; the amount varies on your business type and the number of employees you have