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Corporation in Florida

Do it yourself (free ึAI-powered Guide)

Welcome!๐Ÿ‘๐Ÿ‘ to the AI-powered, DIY Guide for Forming an Corporation in Florida!๐Ÿš€๐Ÿข Follow our Step-by-Step Instructions to Easily Create Your Corporation , Obtain a Tax ID Number (EIN), and Open a Business Bank Account. Start your entrepreneurial journey today with our comprehensive and user-friendly Corporation formation process.

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This step-by-step guide will walk you through the process, covering essential aspects such as creating the Corporation, obtaining a Tax ID Number (EIN), and opening a business bank account.

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This guide was created using AI technology, specifically the large language model Bard and the chatbot GPT-3. Bard is a factual language model from Google AI, trained on a massive dataset of text and code. GPT-3 is a large language model chatbot developed by OpenAI.

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Disclaimer:

The information in this guide is for educational and informational purposes only and should not be considered legal or tax advice. It is essential to consult with a qualified attorney before making any decisions based on the guide. While we strive for accuracy, we disclaim liability for errors or omissions. By using this guide, you acknowledge its limitations, and the Company and its employees, owners, or contributors are not liable for any consequences resulting from not seeking professional advice.

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Table of Content:

1. Choose a Name for Your Corporation

2. Appoint a Registered Agent

3. USA Mailing Address

4. File Articles of Incorporation

5. Confirmation of Filing

6. Bylaws

7. Obtain Tax ID Number (EIN)

8. Open a Business Bank Account

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Step 1: Choose a Name for Your Corporation

Select a unique and distinguishable name for your Corporation that complies with Florida's naming requirements. The name should include the words "Incorporated," "Inc", "Corporation" or an acceptable abbreviation.

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Ensure that the name you choose is not already in use by another business entity in the state.

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You can search the Florida Business Database Database to check the availability of your desired Corporation name.

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Corporation in Florida

When choosing a Corporation name, consider the following:

• Availability: Check Florida's business name database for uniqueness.

• Legal Requirements: Comply with Florida laws, use appropriate designators.

• Restricted Terms: Watch for restrictions on terms like "bank" or "university."

• Avoid Misleading Names: Ensure the name doesn't imply false activities.

• Trademark Check: Search for conflicts using the USPTO database.

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You may want to consult with a business advisor to ensure compliance and to address any specific concerns related to your chosen name.

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Step 2: Appoint a Registered Agent

Designate a registered agent who will receive legal and official documents on behalf of your Corporation in Florida. A registered agent is an individual or business entity designated to receive legal and official documents on behalf of your Corporation. This includes important mail, such as tax forms, legal notices, and service of process (lawsuits).

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The registered agent must have a physical address in the state and be available during business hours.

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The cost of a registered agent for 12 months varies depending on the service provider and the state in which your Corporation is formed. Typically, the cost ranges from \$125 to \$200 per year.

 

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Ways to find a registered agent

Search online: There are many websites that list registered agents in your state. You can search by location, price, and other factors.

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Contact the Secretary of State: The Secretary of State may have a list of registered agents that you can contact.

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ึ AI Recommendation: GET a Free Resident agent for 1 year included with the all-inclusive company formation package from ChatNRA

 

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Step 3: USA Mailing Address

When forming an Corporation, you are required to provide:

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1. Registered agent address - where legal and official documents will be served to your Corporation, and

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2. Mailing address (business address) - The mailing / business address is the location where your Corporation conducts its operations and receive all other mail items.

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The business address can be a physical address or a mailing address, such as a P.O. Box or a virtual office address.

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GET a FREE U.S. mailing address for 1 year  with ChatNRA Pack

 

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Step 4: File Articles of Incorporation

Prepare and file the Certificate of Incorporation with the Florida Secretary of State. Your Certificate of Incorporation is the legal document that establishes your corporation. The certificate requires the following information:

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State of Florida| Profit Corporation | Articles of Incorporation

1. Corporate Name.

2. Corporate Stock Shares.

3. Principal Place of Business.

4. Mailing Address.

5. Name and Address of Registered Agent.

6. Incorporator Name and Address.

7. Execution: Electronic Signature of Incorporator.

8. Corporate Purpose.

9. Correspondence Name and E-mail Address.

10. Officer/Director Name and Address: List the name and address of each officer / director.

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* If you need to add additional information permitted by statute you may draft a new document.

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Filing Fee

The filing fee for the Articles of Incorporation is $70. This fee may be subject to change, so it's important to verify the current fee at the time of your Corporation formation.

 

You can submit the filing fee along with the completed Articles of Incorporation form to the Florida Secretary of State.

 

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Confirmation of Filing 

After you file the Articles of Incorporation for your Corporation, several things typically occur:

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1. Certificate of Incorporation: This is the official certificate issued by the Florida Secretary of State, confirming that your corporation has been successfully incorporated and is now a legally recognized entity in the state. The certificate typically includes the corporation's name, date of incorporation, and a unique identification number.

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2. Filed Articles of Incorporation: You will receive a stamped and filed copy of the articles of incorporation that you submitted to the state. This document serves as the formal constitution of your corporation and includes all the details you provided during the filing process.

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Your Corporation is created.

1. Legal Recognition: With the filing of the Articles of Incorporation and receipt of the Certificate of Incorporation, your Corporation becomes legally recognized as a separate business entity.

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2. Limited Liability Protection: As a result of forming a Corporation, the primary benefit is limited liability protection. This means that the shareholders of the Corporation are not personally liable for the company's debts.

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3. Taxation: A Corporation is taxed separately from its shareholders. The Corporation files its own tax return. Its profits and losses are not reported on the shareholders' individual tax returns. This is known as "double taxation."

 

 

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Step 6: Bylaws

Bylaws are a set of rules and regulations that govern the internal operations, management, and decision-making processes of a corporation. They outline how the corporation will be run, the roles and responsibilities of directors and officers, and the procedures for holding meetings and making important corporate decisions. Bylaws are essential for Florida Corporations for the following reasons:

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1. Legal Compliance: Although not a statutory requirement in Florida, having bylaws can demonstrate good corporate governance practices and may be beneficial in the event of legal disputes.

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2. Internal Governance: Bylaws provide a clear framework for the internal governance of the corporation, ensuring that all members and stakeholders are aware of their rights and responsibilities

 

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Preparing Bylaws for your Corporation

1. Research State Requirements: Review the specific requirements and guidelines for operating agreements.

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2. Outline Key Sections: Identify the sections you want to include in your operating agreement. Some common sections are:

• Corporation Name: The name of the corporation shall be […..]

• Corporate Purpose: A statement defining the corporation's primary purpose and activities it is authorized to engage in.

• Shareholder Meetings: Procedures for calling and conducting shareholder meetings, including the notice requirements and voting procedures.

• Board of Directors: Composition, qualifications, and powers of the board of directors, including the election and removal of directors, their terms of office, and the procedures for board meetings. 

• Officers: Roles and responsibilities of officers (e.g., CEO, CFO, Secretary), their appointment, duties, and authority.

• Stock:

• Issuance of stock: Procedures for issuing and transferring shares of stock, including any restrictions on share transfers.

• Stock certificates: Rules for issuing and maintaining stock certificates (if applicable).

• Dividends and Finances: Rules and procedures for declaring and distributing dividends, as well as managing the corporation's finances.

• Amendments: The process for amending the bylaws, including the voting requirements for making changes.

• Indemnification: Provisions for indemnifying directors, officers, and other corporate agents against legal liabilities incurred in the course of their corporate duties.

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3. Draft the Bylaws: Using the information gathered, and the sections identified above.

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4. Execution: The bylaws are typically signed by the initial incorporator(s). The incorporator(s) are the individuals or entity responsible for organizing and forming the corporation.

Remember, while it's possible to prepare a Corporation Bylaws by yourself, it is generally recommended to seek professional legal assistance.

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Seeking a professional help to start your Corporation in Florida?

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