What Do I Need to Start a Business in Florida?
Before moving forward and officially forming your business, take the time to understand the Florida business environment. Overseeing a start-up can be difficult. Moving too fast can cause problems down the road, so be certain you understand the implications of each step before moving on to the next.
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Business Plan
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Though it's not a requirement to start a business, the creation of any business should start with the writing of a business plan. The population of Florida is unique and can vary from area to area, so take great care in evaluating the wants and needs of your proposed client base and build your business plan around them. A thorough business plan will include a description of the business, management structure, marketing and financing. Take your time in creating your business plan. Research similar businesses to the one you are forming, and be certain of the viability of your business before moving forward.
Business Formation
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Choose the legal structure of your company and register with with the Florida Secretary of State's office. Business entities recognized by Florida are either a sole proprietorship, corporation, nonprofit, general partnership, limited partnership or limited liability company. There are different legal and tax implications to each choice, so if you are uncertain about which form best suits your business, you should consult an experienced Florida attorney and accountant.
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Federal Employer Identification Number
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Though not a requirement of the state of Florida, all businesses run within the U.S. must register with the Internal Revenue Service (IRS) for an Employer Identification Number (EIN). The process may be completed online (see Reference section).
Florida Department of Revenue Registration
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Register with the Florida Department of Revenue. All businesses run within Florida must register with the Florida Department of Revenue for tax reasons. Tax obligations vary by business type, but common taxes can include income tax withholding, unemployment insurance tax, sales tax and use tax.
Business License and Permits
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Obtain locally required licenses and permits. License and permit requirements vary from business to business and place to place. While Miami-Dade County handles business license registration for the Miami area, other counties may leave the responsibility to the towns and cities within the counties. To inquire about the license and permit requirements for your company, contact your local county commission and city clerk's office.
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References
Resources
- Photo Credit Florida state contour with Capital City against blurred USA flag image by Stasys Eidiejus from Fotolia.com
