Incorporation in Florida

Find the right Business Incorporation attorney in Ocala, 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. Also, creditors in the Ocala area generally prefer to deal with corporations, since a loan is an investment more easily evaluated when the credit-worthiness of various owners is not an issue. Lastly, 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

There are costs associated with incorporation, both short and long term. First, businesses in Florida may 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 Ocala lawyer, you can avoid this disadvantage.

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Life in Ocala

Ocala is located in Marion County, Florida. About 54,000 people call Ocala home.

In this small city, the median income for a household is approximately ,000. Many residents commute outside of Ocala or making a living doing small labor here and there.

A popular attraction of Ocala is the Ocala Symphony Orchestra. Another popular attraction is the Ocala Civic Theatre. Evidently, Ocala is a small city that is big on the fine arts!

Being so small, Ocala has some small law offices. For larger, more complex legal matters, residents of Ocala can go to neighboring cities for legal services.

All in all, Ocala is a quaint city in Florida, offering tourists a very different feel from the stretch of beaches and metropolitan atmosphere.

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