Incorporation in Florida
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. Without incorporation, the personal property of business owners is at stake should the company become unable to satisfy its debts. Furthermore, a business that has not incorporated puts the unnecessary burden on creditors in the Port St. Lucie area to evaluate the credit worthiness of individual owners rather than that of the business, making loans more cumbersome. Lastly, the ownership stake in a corporation can be apportioned into uniform slices, known as "shares" of stock. This makes it possible to sell ownership investments in more manageable slices.
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Incorporation Attorneys and Law Firms in the Largest FL Cities
Life in Port St. LuciePort St. Lucie is major city in St. Lucie County, Florida. It is one of the fastest growing regions in the country. From the year 2000 to the year 2009, the population of Port St. Lucia, Florida grew from 88,000 to 155,000, making it one of the fastest growing cities in the country.
Tradition Square is one of Port St. Lucie's main residential communities and has been listed as one of America's top 100 communities. It is modeled in a 1950's style and serves as the center of Port St. Lucie. The city is host to an abundance of golf courses, including some top PGA courses. Port St. Lucie is sometimes called "Park St. Lucie", because the city maintains a large number of parks and entertainment centers.
Active development in the city of Port St. Lucie, Florida has also increased the number of employment opportunities in the area. In particular, the Florida Center of Innovation houses two biotech companies- the Vaccine & Gene Therapy Institute and the Torrey Pines Institute for Molecular Studies. The Center is a major source of economic activity in Port St. Lucie, Florida.
Lawyers in Port St. Lucie, Florida file many legal claims at the St. Lucie County Court ("West Annex Building"). Port St. Lucie lawyers offer legal assistance in a broad range of fields.
Costs of Incorporation
These advantages come at a price. First, incorporation in Florida may require a filing fee. Second, a corporation pays taxes just like any other 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 Port St. Lucie lawyer.