The sun, the scenery, the sandy beaches… There are a lot of great reasons to be in Florida.
And here is one more:
Florida is among the best places in the country to register an LLC, or limited liability company.
In the last two years, Florida has seen an explosion in new LLC registrations, more than 400 thousand! Mostly because of changing laws that encourage investment.
Ready for some examples?
First is asset protection.
The primary reason for creating an LLC is to protect your personal assets from a lawsuit. But it some states, they are still vulnerable, especially is the LLC and personal assets are held in different states.
That won’t happen in Florida. Personal assets are protected from an LLC lawsuit, regardless of where they are held.
Next is the great tax record.
Florida allows companies to file tax returns and pay taxes internally. That provides a far more favorable tax rate than you would have if you were paying personally.
Florida also offers a “pass through” tax status that allows shareholders to report their profits and losses from the company *individually, and pay taxes based on that
Now, there are some things to be aware of so if you are ready to make the LLC move, call an experienced South Florida business attorney.
Call Paul Burkhart or visit paulburkhart.net