Incorporation in Florida

Find the right Business Incorporation attorney in North Port, FL

Florida law allows a business to incorporate and be recognized as its own legal entity. When an incorporated business acts, whether it is to buy and sell property, assent 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

Certain benefits inure to a business in Florida that has incorporated over one that has not. First, a corporation's liabilities can never go beyond the amount invested in the business by the owners. Had the business instead remained a collection of the owners' personal assets, the personal property of the stakeholders could be liquidated to pay the liabilities of the business, if it runs into financial problems. A corporation may also find it easier to finance itself through loans, allowing creditors in the North Port area to evaluate their investment by assessing the corporation rather than the individual credit-worthiness of its owners. Lastly, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.

Costs of Incorporation

Along with a possible fee to file for incorporation in Florida, there are other costs that corporations incur. The most important is that a corporation is taxed as its own entity. Disbursements to the owners of the corporation are also taxed as individual income, so this means earnings may be taxed twice. But this double taxation can be avoided with proper planning and help from a local North Port lawyer.

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Life in North Port

North Port is a very small city located in the Sarasota County of Florida. It was first developed by the General Development Corporation as a part of its Port Charlotte development. Later, the city came under the name North Port. North Port is located between Tampa and Fort Myers.

Some popular attractions of North Point are the Heron Creek Golf Country Club, and Bobcat Trail Golf Country Club. North Port is also filled with many naturist spots. Therefore there are many walking, hiking, and bike trails. Essentially it is a nature lover's dream.

North Point is very small. Therefore there are a few small law offices with excellent attorneys.

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