Incorporating Your Business
You have a genius business idea, you’ve designed your logo, and you’re positive that your “brand” is going to be a hit, but you don’t know the first thing about forming a business. You don’t have to, because we do.
Below is an outline of the steps you need to take to get your business up and running ASAP:
- Choose your business structure. There are several different types of business entities. They include a sole proprietorship, partnerships, including limited partnerships (LPs) and limited liability partnerships (LLPs), a limited liability corporation (LLC), and a corporation, among others. Each entity type has certain benefits designed to protect your interests. You’ll want to choose the type that’s best for you.
- Register your business in the State of Florida. If your business name is unique, you can register your business name and your business structure with the State of Florida, which will legally create your business. You do this by filing Articles of Incorporation with the Florida Department of State. Besides the company name, you need to designate a principal address (which must be a physical Florida address), a mailing address (which can be a PO Box ), and an email address. You will also need to include the names and addresses of all the owners in the company, as well as their corporate titles. You will also need to designate the purpose of your business or its intended purpose.
- Register your business with the Federal Government. Filing with the government allows you to obtain a Federal Employer Identification Number (known as an EIN) from the IRS. This is a tax ID unique to your business that you’ll use to accomplish transactions, including opening a bank account in your business name.
- Find out if you need permits or a business license to operate your business. Depending on the type of business you operate and your location you may need a permit to operate your business. Most counties in Florida require you to have a license to operate in that county, even if you don’t have a “brick and mortar” location and operate virtually. The rule of thumb is that if you sell services or merchandise in a county, you’ll likely need a license to operate your business.
- Open your business bank account. Most businesses are required to have a separate bank account for transactions, but regardless of the legal requirement, you’ll likely want to have a business bank account so that you have somewhere to deposit all of the money you are about to make!
If you’re ready to form your business entity and make your business dreams a reality, we’re here to help get you. We’ll do the legal work while you focus on creativity and business operations. Call the Quattro Firm today so we can get started.