You’ve got a great business idea. All you have to do is fill out the paperwork to get it going. The mountains and mountains of paperwork.
It’s not the most glamorous part of getting a company going, but it’s necessary if you want to start a business in Florida. If you fail to register your company the right way or don’t apply for your license, you’ll be in a lot of trouble. You may have to pay some fines, and your company doors will close for good.
Lucky for you, we’ve got a complete rundown of getting a business going in the sunshine state. Keep reading to learn more.
Decide on Your Business Structure
The first step of starting a business in Florida is deciding on your business structure. You’ve got 3 options. You can go with corporation, sole proprietorship, or you can start an LLC.
The one you choose will largely depend on what kind of business you’re running. Certain industries require special licenses. Either way, your business structure will determine how your operations run, and it will have an impact on your taxes.
The next step is Florida business registration. There are articles of incorporation that you can find on the Florida Department of State website. You’ll need to fill these out as well as provide your business’s name, the address of where your company will be located, the name of your registered agent, the purpose of your business, your stock share information, and the date that you’re set to open your doors.
Once you have all your forms filled out, submit a payment to solidify everything. When you hire a new employee, it’s required that you report it to the Florida Department of Revenue. To do this, you’ll register for the new hire program.
You’ll have to get an EIN from the IRS as well. It’s free to sign up for and should only take a few minutes. You’ll also have to register for your state taxes with the DOR.
Apply for Your Business License
The last step is signing up for your business license. You’ll seek out the Department of Business & Professional Regulation or the Department of Agriculture & Consumer Services, depending on what kind of company you’re starting.
If you’re not sure what category you fall into, you can go to the State of Florida’s business portal. That will provide all the information that you need.
Start a Business in Florida Today
Are you trying to start a business in Florida? As you can see, there’s a lot of paperwork involved, but that’s true for beginning a business anywhere.
Of course, getting your business registered and legal isn’t the most glamorous part of the process, but it has to be done. If you fail to do things the legal way, your doors will close.
For more tips that will help you keep your company flourishing, visit the Business section of our blog every day for new content.