Incorporation in Florida

Find the right Business Incorporation attorney in Margate, FL

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. Without incorporation, the personal property of business owners is at stake should the company become unable to satisfy its debts. A corporation also allows creditors in the Margate 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 corporations charter requires that ownership be divided into stakes or "shares" of stock, all of equal size. This makes the process of transferring control much more practical.

Costs of Incorporation

Incorporation comes at a price. First, Florida might charge a filing fee to process applications for incorporation. Also, the corporation will pay taxes as its own entity. In other words, the profits a corporation makes are now taxed separately, while any disbursements to shareholders are taxed as individual income. This is called double taxation. However, a business might avoid this disadvantage with proper planning and assistance from a local Margate lawyer.

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Life in Margate

Margate is a part of the Miami-Fort Lauderdale-Pompano Beach metropolitan area. Margate has an approximate population of 54,000 people.

Two of the most popular attractions in Margate include Sparez and the Eagle Lakes Golf Course. Margate is filled with many naturistic spots where residents and tourists can sit back, relax, and enjoy nature!

Being so near Miami and Fort Lauderdale, Margate residents have available to them a plethora of law firms that train excellent attorenys. These attorneys are highly-qualified to handle both simple and complex legal matters.

All in all, Margate offers residents a small town feel with an unified, community-like spirit.

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