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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.

Incorporating 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.

In The News:

Elderly South Koreans to reunite with relatives in North
Mon, 20 Aug 2018 02:15:00 +0100
Dozens of elderly South Koreans have travelled to the border with the North to reunite with relatives they were separated from during the Korean War.

Afghanistan proposes ceasefire with Taliban
Sun, 19 Aug 2018 21:22:00 +0100
A ceasefire is due to begin in Afghanistan on Monday and will "continue as long as the Taliban preserves and respects it", President Ashraf Ghani has said.

Indonesian holiday island struck by second quake
Sun, 19 Aug 2018 16:07:00 +0100
A 6.9-magnitude earthquake has hit the Indonesian island of Lombok - hours after a 6.3 tremor struck the tourist destination.

Disease outbreaks feared in Kerala flood camps
Sat, 18 Aug 2018 20:48:00 +0100
Aid workers have said they fear outbreaks of disease as thousands of people remain stranded after Kerala's worst flooding in a century.

Italy pledges infrastructure boost after bridge disaster
Sun, 19 Aug 2018 13:03:00 +0100
Italy will launch a national plan to make motorways, bridges and schools safe following the collapse of the Morandi bridge in Genoa, the government said.



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