Tax structures are important to set up early so filing of returns is made easy, and you do not find yourself in the position of owing taxes and not being able to pay them.
A Florida limited liability corporation (LLC) is a more flexible entity than a corporation. LLC structures limit the liability of managing members and managers. The corporate operating agreement outlines and addresses organizational changes, obligations, business structure, voting powers, distribution rights, and specific contingencies that are focused on the unique business entity. Talk to a Florida business law attorney who can explain the specific differences and benefits of a LLC.
An Orlando business attorney can help you with:
- Naming a corporation. Filing a request for the name you wish. A name must be unique and distinguishable for State Department recording, and include the type of corporation. A name search is necessary before submitting documents and should not be assumed by the business until a formal acknowledgement is sent from the Florida Division of Corporations. An Orlando Corporate attorney can file a name request, or change document.
- Drafting articles of incorporation. Florida corporate lawyers assist with the creation of the articles of corporation document that includes: 1) a principal office or street address for the business, 2) a mailing address if different from street address, 3) choosing a registered agent and supplying their name and address who will be the person responsible on behalf of the business who has a physical address not a P.O. Box, 4) a signature on the proper form for the registered agent accepting obligations of Florida S 617.0501, 5) a specific purpose for the corporation such as “community support,” 6) using specific language to reflect the 501(c)(3) status from the IRS, 7) choosing a governing body for the corporation and how they will be elected, 8) drafting by-laws which will state how the company will be run, 9) choosing an effective date of the corporation which will require annual renewal documents with the State, and 10) providing signatures of all responsible parties to the corporation.
- Filing 501c3 paperwork with the Internal Revenue Service of the United States.
- DBA or Fictitious Name assignment if necessary, an attorney can advise with this.
- DUNS numbers are required for federal granting agencies and an attorney can fill out the paperwork to get you going with this.
- Tax structures are important to set up early so filing of returns is made easy, and you do not find yourself in the position of owing taxes and not being able to pay them. An experienced Florida corporate attorney can be of great assistance to advise you on the tax structure suitable to your revenue stream, they can also file your quarterly and annual returns in collaboration with an accountant. In some cases a business attorney may also know the tax laws for corporation progress and will include those activities in corporation representation. For example, a business law attorney may suggest a limited liability corporate structure to prevent personal liens in the event a business is foreclosed.
Hire a lawyer
It is important to hire a business law attorney to work out all of the intricate details of setting up a new limited liability corporation in Orlando Florida. They can prepare and review corporate documents and advise on tax structures that safeguard a business owner from negative consequences, enable its smooth operation, and support legal action when it is required to correct disputes. Contact the attorneys at Legal Counsel, P.A. for guidance on drafting corporate documents for your limited liability corporation in the State of Florida.