Summary: If you decided to open a new business that will be based in Florida you can choose from several options: Sole Owners Sole Proprietorship: Sole owners of Florida-based businesses could opt for sole proprietorship as the easiest form of business organization. Not the most recommended, given the liability a sole proprietor assumes as a result of owning a business. No registration with Florida Secretary of State is necessary, but it is recommended to register a Fictitious Name (DBA), and if you plan to hire employees then also obtain an E I N. REMEMBER: Florida requires advertising the intention to register a fictitious name at least once in a newspaper in the county in which the principal place of business will be located. Learn more about Florida publication requirements here. Single Member LLC: Limited liability company, as the name suggests, is an entity that allows its owners to limit the liability of the business to the entity itself, shielding the owners' personal assets. This type of entity is recommended for most small businesses. By default your LLC will be taxed as "disregarded entity", meaning you will file your LLC tax return as part of your personal tax return. Keep in mind though - LLC is a flexible entity, which means you have the option of electing it to be taxed as S-Corp (assuming you are a U.S. person) or C-Corp. Learn more about LLC here, and about the details of forming LLC in Florida here. Corporation: You can also form a corporation and be a sole shareholder with 100% of all shares. Corporations have more formalities than LLCs (for example in Florida you are required to have bylaws and maintain minutes of meetings in corporate records), but provide similar limited liability protection. That's one of the reasons this entity type is often more suitable for bigger companies, or those who seek major investment. https://www.myusacorporation.eu/florida.html MyUSACorporation is your reliable partner since 2009.
