Florida Corporation Cost
The Florida Statutes enables the formation of different types of domestic and foreign corporations in the state. The laws are extremely flexible and friendly and along with a pro-business environment, strong infrastructure, and easy access to capital; Florida has become one of the top destinations for modern day entrepreneurs. If you incorporate in Florida, you will be able to benefit from several other benefits the state offers like low corporate income tax as compared to other states and a wide variety of business incentive programs and grants. These grants and incentives can help you to even offset the overall cost to form a Florida Corporation.
Cost of forming a Florida Corporation
The cost to form a Florida Corporation is an important aspect of new business formation as it will help you to determine the budget required to launch your company and make it operational. There is a one-time new business incorporation fee and then there are costs attached to various other aspects like marketing, staff recruitment, commercial space, and even office supplies. The annual cost for a Florida corporation can be categorized as under:
- You have to file Profit Articles of Incorporation and the filing fee is the same for both domestic and foreign corporations. The filing fee is $35 and is a one-time cost to form a Florida Corporation.
- You have to reserve a business name prior to file application to incorporate in Florida and the fee is $35.
- You will be required to file “Registered Agent Designation” application along with the articles and the fee for that is $35
- If you require a Certified Copy of the articles then there is a fee of $8.75
- If you require a Certificate of Status then there is a fee of $8.75
Annual maintenance cost for Florida Corporation
A for-profit business corporation is one of the widely chosen business structures in the state and the initial cost to form a Florida Corporation includes filing of articles, registered agent designation, and business name reservation or registration. There is also a Florida Corporation maintenance cost, which is basically a form of annual cost incurred by the company towards ensuring that the said company meets all state requirements. The different annual maintenance expenses are:
- Once you incorporate in Florida, you will have to apply for and obtain business licenses as well as permits. The type of licenses and the fees will depend on the type of business activity. You may also require zoning permits and county licenses depending on where your business is located. Business licenses have to be renewed on a yearly basis.
- Once you have formed your new business, one of the most important costs to form a Florida Corporation and maintain it is the annual report. If you miss the due date then there will be a penalty – any annual report filed after May 1 will have a penalty fee of $400.
- Once you incorporate in Florida, your company may be subjected to a variety of taxes and returns have to be filed annually.
There is a variety of documentation required by any new business including a corporation when it comes to new business formation and the process may seem quite complex. We, at IncParadise can help you to register a Florida Corporation with ease and also provide guidance towards various documentation and information required by you during the incorporation process.
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