The main structures that can be registered in Florida are: a limited liability company (LLC), an S corporation (Small Business Corporation) and a C corporation (C Corporation), which has a taxpayer code. In addition, there are several types of partnerships that are exempt from income tax by law.
By registering an offshore company in Florida, you can receive significant tax benefits when doing international business. At the same time, the company cannot operate within the country. An S corporation is more suitable for small businesses, and although this structure has virtually no differences from a C corporation, it has a drawback, which is that a C corporation is subject to double taxation.
Limited liability companies are one of the most common forms of ownership in Florida. LLCs can be created by at least two persons, who, according to the law, can be both individuals and legal entities, including foreign ones. However, banks and insurance companies cannot be members of an LLC. You can learn more about the specifics of Florida business structures by reading the article: “Free initial consultation on corporate taxation and accounting for those wishing to register a company in the state of Florida.” The LLC structure provides the opportunity for reliable asset protection and eliminates the need to pay local income tax.
In addition to all the advantages for business, Florida can become a comfortable place to live for those who love year-round summer, want to live near the ocean, receive a quality education and use high-quality medical care.