Business Law Palm Beach

Setting up or forming a business in Florida is very easy. Simply go on the Sunbiz website and fill in the information. But determining which corporate entity to choose is a topic to discuss first with a business lawyer. You also discuss the tax implications with your accountant or CPA. What is an S Corp There is no corporate entity called an S Corp. The S Corp is a tax election as compared to a C Corp or other choices like sole proprietor and partnership. It merely denotes how you want your business treated for tax purposes. The S Corp treatment passes the income of the business through the business onto the owner or owners. Thus it is referred to as a pass-thru entity, but it is not a legal entity like the corporation or LLC. What are the legal entities in Florida I can choose for my business There are three recognized business entities in Florida. They are the corporation, the limited liability company, and the partnership. The corporation The corporation is regulated by Chapter 607 ...