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Why should I be incorporating in Florida?
Incorporating in Florida has many benefits, including:
- Increased Protection from Liability: Shareholders of Florida state corporations generally have the benefit of limiting their personal liability for the debts and obligations of the corporation. From a legal standpoint, Florida corporations are considered separate entities distinct from their shareholders. In contrast, sole proprietors have no limitation of liability, therefore their personal assets can be taken to pay debts of the business.
- Easier access to capital funding: Florida State corporations can raise capital through the sale of shares of stock. Additionally, the limited liability granted through forming a Florida corporation appeals to investors who are fearful of personal liability.
- Tax Treatment: State of Florida corporations have many tax options and potential benefits available, including setting up pension, profit-sharing, and stock option plans.
- Image: Forming a Florida corporation increases your credibility and allows you to present a professional appearance to your customers and to others in your field.
- Duration: A state of Florida corporation's existence is perpetual. Should an owner die or wish to sell their interest, the corporation will continue to exist and do business.
- Broad Range of Powers: As a separate legal entity, a Florida State corporation has the power to act in any way permitted by law and by its own corporate charter.
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