Information to Incorporate a Small Business in Florida
Incorporating a small business in Florida gets accomplished when owners of the company file a document known as the articles of incorporation with the Florida department of state. Florida is a popular place to incorporate a small business, since owners of the company do not have to pay personal or corporate income taxes. The state does not impose capital requirements on incorporated businesses, which allows the company to begin operating without amassing any money.
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Name
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The name of a Florida small business corporation must be different from the name of other companies registered with the Florida department of state. You can confirm the availability of your company name using the Florida department of state website. The name of the corporation has to include an identifier such as "company" or "incorporated." Florida does not allow a small business corporation to use words in the company's name that imply an affiliation with a government agency.
Directors
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A small business corporation in Florida has to name at least one person that will serve on the company's board of directors. Florida requires a director to have reached 18 years of age, but directors of a Florida small business corporation do not have to live in the state. In addition, directors of a Florida corporation do not have to own shares of the business. The articles of incorporation or the company's written bylaws may stipulate the number of individuals that will serve on the company's board of directors.
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Articles
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Florida provides small business owners with fill-in-the-blank articles of incorporation that must get completed and filed with the Florida department of state. You have to furnish information about the business such as the number of shares the company has the authority to issue, as well as the name and address of each incorporator that will file the company's articles with the state. The name and address of the company's registered agent must appear in the articles, since the registered agent's address indicates where the company's legal and tax documents get delivered. Every incorporator has to sign the completed articles. The Florida department of state website enables small businesses to file articles of incorporation electronically, but the articles can get filed by mail, as well as in person at the Florida department of state's office. As of 2011, a $70 filing fee must accompany the completed articles.
Bylaws
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Every small business corporation in Florida needs to create written bylaws that provide rules and procedures for running the company. The state of Florida does not impose specific regulations on a corporation's bylaws. You may include procedures in the bylaws such as the process for electing new directors, as well as the time and place of company meetings. Other provisions can appear in the bylaws, including the duties of the company's officers and the fiscal year of the corporation. The bylaws have to stay at the company's primary business location.
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