Incorporation in Florida
Florida law allows a business to incorporate and be identified as its own legal entity. When an incorporated business acts, whether it is to buy and sell property, agree to contracts or exercise legal rights, the process is then attributable to the business itself and not its owners. The Florida Secretary of State receives and processes applications for incorporation, which must be submitted in compliance with local guidelines.
Benefits of Incorporation in Florida
An incorporated business enjoys certain advantages, the most important being a limit of liability for the shareholders. The most shareholders can lose is the amount they invest in the business. Had the business remained unincorporated, owners risk losing their personal property should the business become unable to fulfill its liabilities. A corporation also allows creditors in the Largo area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to acquire loans more easily. Finally, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.
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Incorporation Attorneys and Law Firms in the Largest FL Cities
Life in LargoLargo is located in Pinellas County, Florida. It is part of the popular Tampa Bay. Today Largo is considered Florida's third largest city, populated with a very diverse crowd.
In the early years, Largo's economy was heavily dependent on agriculture. With the technology boom, that changed. Now, the vast majority of jobs in Largo are services, retail, and health car. Some of the top employers include Largo Medical Center Hospital, Sun Coast Hospital, Eckerd Corporation, Tech Data, Suntasia Marketing, and the County.
Large is also filled with many small law firms, practicing in many areas of law. For complex legal issues, nearby Tampa Bay has many large law firms that house excellent attorneys capable of handling even the most complex legal matter.
Some popular residents of Large include Chloe, Dexter McCluster, Leonard T Schroeder, Terrance Mann, and John Stansel Taylor.
All in all Largo is a small city with a prime location and a wonderful quality of life.
Costs of Incorporation
There are costs associated with incorporation, both short and long term. First, businesses in Florida might be charged a fee to incorporate. Also, a corporation is taxed as its own entity. The individual incomes of the owners are still taxed also, and this can mean the same income is taxed twice, known as double taxation. With proper planning and assistance from a local Largo lawyer, you can avoid this disadvantage.