Do you run a small business? Thinking of incorporation? Read
this article and discover the advantages of incorporating in Florida.
A Look at Small Business Incorporating in Florida
The choice to incorporate a small business in Florida has
several advantages. Corporations are separate legal entities and, as such, the
corporation rather than individual owners pay both the taxes and the
liabilities. If you are thinking of running (or are currently running) a small
business, incorporating in Florida might be a good idea because you would no
longer held personally liable if your business suffered a downturn.
Small business incorporating in Florida also means that you
do get to enjoy the perks and incentives that come with running a small
business. For example, businesses in the technology sector and certain
manufacturing sectors can qualify for grants if they are deemed to be beneficial
towards national defense. Additionally, the U.S. Small Business Administration
might qualify you for one of its loan programs.
With regard to Florida’s general business climate, the state offers very good
tax advantages. For example, Florida does not tax corporate income on subchapter
S-corporations and state personal income. There additionally is no corporate
franchise tax on capital stock, no state-level property tax assessed, no
property tax on business inventories, no property tax on goods-in-transit (up to
180 days), and no sales and use tax on goods manufactured or produced in Florida
for export outside the state. In addition, there is no sales tax on purchases of
raw materials that are incorporated in a final product for resale, no sales/use
tax on boiler fuels, and last but not least, there is no “sales” or “use” tax on
co-generation of electricity.
Some specific industries receive additional support in Florida. For example,
the Florida Aerospace Finance Corporation (FAFC) is a valuable resource for
Florida-based businesses in the aerospace sector. The FAFC was created to expand
aerospace business opportunities within the state. This entity promotes Florida
as “The Place for Space” by providing direct loans and innovative financing
strategies for small aerospace businesses.
These are just a few examples of the business supports in place to help a
small business grow in Florida.
in Florida Info helps big and small businesses learn the benefits of
incorporating in the Sunshine State, and also provides detailed information and
advice about the Florida Department of Incorporation. Incorporating in Florida
Info is the sister site of
Forex Brokers Web.
Article Source: http://EzineArticles.com/