West Palm Beach Business Lawyer

Filing S Corporations and LLCs in Florida

At The Law Firm of Joseph J. Rosen, P.A., we offer services for incorporation of your entity with the Florida Department of State and obtaining a Tax Identification Number (EIN). We also provide other incorporation-related services such as preparing corporate bylaws, organizational minutes, drafting owner-member agreements, stock issuance resolutions, and more.

Contract Drafting & Review – Our Firm also handles contract review and drafting for Florida businesses. We can draft shareholder agreements, employment agreements, independent contractor agreements, vendor service contracts, and other commercial related contracts.

Florida “S” Corporation and LLC Formation – We assist individuals and small business owners with business formation in Florida. The most popular forms of business entity are “S” Corporations and Limited Liability Companies (LLCs).

Should I Form an “S” Corporation in Florida?

Deciding which business entity is best for you is an important and often difficult decision – not to mention working through the necessary filing procedures. With help from our knowledgeable business law attorney, you can establish your Florida “S” Corporation or (LLC) easily and affordably.

What is an “S” Corporation?

An “S” Corporation is a regular corporation but with a special tax designation. The most distinctive feature of an “S” Corporation is that its income is not taxed at the entity level. Instead, income passes through directly to the shareholders and the shareholders then report income on their individual tax returns. Generally, S Corporations must be owned by natural persons. A foreigner cannot be a shareholder of an S Corporation. To qualify as an S Corporation for federal tax purposes, the shareholders of the corporation must file Form 2553 with the Internal Revenue Service.

Why file an “S” Corporation in Florida?

If you’re not sure which business entity is best for you, our experienced West Palm Beach business lawyer can help you make an informed decision.

Benefits of filing an “S” Corporation in Florida include:

• Asset protection
• Pass-through taxation
• Tax-favorable income
• Easy transfer of ownership
• Established credibility

What is an LLC?

An LLC (Limited Liability Company) is a business entity much like a corporation. It has the benefit of offering limited liability protection (just like a corporation) and allows for pass-through taxation of income. LLCs generally provide a flexible management structure. They are typically managed by the members, or owners, in which case they are member-managed. There is no formal board structure in an LLC. LLCs are also flexible in that they can be owned by natural persons, other legal entities, and foreigners (non-US citizens). They also offer flexibility in terms of allocation of profits to the member-owners.

Why file an LLC in Florida?

LLC’s are one of the most popular business entities, and for good reason. However, forming (an) LLC in Florida may not be suitable for every business owner. At The Law Firm of Joseph J. Rosen, we will help you make the appropriate choice while handling all the paper work for you.

Benefits of starting an LLC in Florida include:

• Limited liability for business owners
• Pass-through taxation
• Simple to manage when compared to other entities
• Operation and ownership flexibility
• Builds business credit
• Attracts foreign investors

 

Call us today for a Free consultation

If you’re ready to form your “S” Corporation or LLC in Florida, our West Palm Beach business lawyer (can assist you). We welcome you to call us at 561-638- 8593 for more information.