Business Formation

Are you looking to start a business here in the sunshine state? If so, you may want to speak to one of our Business Law attorneys here at RAK Law Firm.

Things to Consider:

1. What type of business do you want to start?
2. Florida’s business structure types, including but not limited to:
   • Limited Liability Company (LLC): means the limited liability company that issued the membership interest held by a member demanding appraisal and, for matters covered in this section and ss. 605.1062-605.1072, includes the converted entity in a conversion or the surviving entity in a merger. Fla. Stat. § 605.1061(6)
   • Corporation: means any corporation organized for the purpose of establishing, operating, and maintaining a foreign trade zone. Fla. Stat. § 288.35(1)
   • Limited Liability Partnership (LLP): except in the phrases “foreign limited partnership” and “foreign limited liability limited partnership,” means an entity, having one or more general partners and one or more limited partners, which is formed under this act by two or more persons or becomes subject to this act as the result of a conversion or merger under this act, or which was a limited partnership governed by the laws of this state when this act became a law and became subject to this act under s. 620.2204(1) or (2). The term includes a limited liability limited partnership. Fla. Stat. 620.1102(12)
3. Procure a Federal Employer Identification Number (EIN): an EIN identifies your business to the IRS which allows you to file federal, state and local tax returns as well as file Florida income tax. Visit the Florida Department of Revenue Business Portal for more information.
4. File Online:
   • Profit or Non-Profit Corporation: Profit Articles of Incorporation and Non-Profit Articles of Incorporation
   • LLC: Articles of Organization
   • Partnership: Florida Limited Partnership Forms
5. Register your business name (optional): Fictitious Name, Register Florida Fictitious Name, Check and see if business name is taken.
6. Research and obtain necessary permits and/or licenses: Check with the Florida Department of Business and Professional Regulation (DBPR) and local city/county offices to see if you may need a specific permit or license to operate legally.
7. Open business bank account(s): You may want to open business specific bank accounts in order to keep business funds separate from any personal account funds.
8. Hire an accountant: You may want to hire an accountant to oversee the operational funds and manage your business transactions effectively.
9. Draft business forms: Your new business may need quality contracts, agreement or forms drafted in order to start on a good foot. Our team of attorneys are experienced in contract formation and business strategy and can help you best identify what agreements your individual business may need.
10. Create company policies: You may want to establish guidelines for your new business such as rules and procedures. Creating company policies can help promote a positive working environment as well as ensure legal compliance.
    • Employee agreements or handbooks: You may want to create an employee handbook to facilitate risk management and performance expectations for your employees.
11. Hire an attorney: our team of knowledgeable attorneys can help discuss your business needs and establish a plan for business formation that works best for you. Our attorneys specialize in business law and are familiar with registering businesses with the state, procuring EINs and drafting business contracts.

You can find more information using the Florida Business Information Portal. The Florida Business Information Portal must provide at least the following: A downloadable guide on how to start and operate a business in Florida. A list of business types and a checklist for starting each type of business. Links to guide users to the websites of appropriate state licensing, permitting, and registration agencies. Information regarding business tax registration and filing. Information regarding registering with the Department of State. Fla. Stat. §20.166

The formation of a business in Florida involves careful planning and legal, financial and operational considerations. It may be a good idea to seek advice from attorneys, accountants and/or business advisors to make sure you are starting on the right track.

Although the formation of a business itself may not require legal advisement, it is strongly recommended as certain situations related to business disputes, contracts, liability and other legal matters may arise during the formation of said business. Our team at Rak Law Firm can help answer specific legal questions as well as give you access to the latest and most relevant legal information, legal developments that fit your individual business needs.