Step 1: Decide on a Business Structure

There are 3 basic options: a DBA, a Corporation or an LLC. Click here to learn more about business entities.

• • A DBA or “Doing Business As” (also known as a “Fictitious Business Name” or FBN) is not really a separate structure, but just a different name that an individual or partners use as their business name.
  • A Corporation is a separate entity (provides liability protection to the owners) that has a structure that includes shareholders, directors and officers. More complex than a DBA but the entity of choice for large companies and startups that intend to raise funding. Some professions are required to choose what is known as a “Professional Corporation” or PC (doctors, lawyers, architects, etc.)
  • An LLC or “Limited Liability Company” is a newer type of business that is both a separate entity but provides very easy management (doesn’t require directors or officers) and taxation. Has largely replaced the DBA and Corporation in popularity recently as it provides liability protection but with much less complexity (and taxation) than a Corporation.

NOTE: Some businesses require a specific type of business entity depending on the industry you choose or the license required by your profession (may require a “Professional Corporation” or PC). In Florida, these professional corporations must abide by the Florida Professional Service Corporations and Limited Liability Companies Law (Title XXXVI, Chapter 621, Florida Statutes) and Florida Business Corporation Act (Title XXXVI, Chapter 607, Florida Statutes).

Step 2: Pick a Business Name

Picking a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that, the better).

• • Make sure you’ve covered the basics: unique, easy to understand/pronounce (practice saying it out loud: “Thanks for calling XYZ”) and can survive over time (“DVD World” is not timely). Here are some of our tips on business identity including logo and trademarks.
  • Search the web for your proposed name. Search Google, Bing and DuckDuckGo as a “first sweep” for any potential conflicts, especially in your state or local jurisdiction. NOTE: If you intend to operate nationally or even internationally it will be even more important that your name be unique. This should cover many cases where a company name is being used but not officially trademarked (see next tip).
  • Do a trademark search with the US Patent and Trademark Office (USPTO). This will be a very good indicator if you’re name will have any conflicts. There’s an art to trademark searches (trademark specialists will charge you handsomely to do a thorough search) but in our experience if you can use google at a fairly advanced level you can reasonably clear a name yourself. Tip: search misspellings, plurals, variations of spelling, sound-alikes and other versions of your chosen name to be sure it’s not already registered.
  • Make sure your company name choice is available by searching the Florida Department of State Division of Corporations business name database. Note: Make sure to search variations of spelling, plurals and misspellings as the state may reject a name that is too similar (then you have to start all over again, wasting valuable time).

Step 3: Register the Business

Each state has it’s own requirements for registering a business. Now that you’ve chosen a business structure and picked your business name, here are the requirements to register your business in Florida.

How to form an LLC in Florida

How to Incorporate in Florida

How to File a DBA in Florida

Step 4: Obtain your Federal Employer Identification Number (FEIN or “EIN”)

Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLC’s and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.

To obtain an EIN you can apply online with the IRS or via IRS Form SS-4.

You can read more about corporate tax laws in Florida on the Florida Department of Revenue site.

TIP: We will obtain your EIN for you if you we form your company.

Order Now

Step 5: Open Company Accounts: Bank and Credit Cards

To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork, b) your EIN and c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).

TIP: Our business formation service includes a free banking resolution for your use.

Order Now

Step 6: Obtain Business Licenses and Permits

Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).

The Florida Department of Business & Professional Regulation website has information regarding business licensing in Florida. It also has a list of types of businesses that require special licensing.

Tip: We work with a company that can obtain and prepare business licenses and permits for you. Click here to learn more.

Step 7: Annual and Ongoing Requirements

DBA: Your Fictitious Business Name should be valid for 5 years (unless you change company name or other information listed on the FBN) at which point you’ll need to renew it with the county.

LLC: Florida LLCs are required to file an annual report, due May 1 every year, which has a filing fee of $139.

Corporation: Every year you’ll need to file the “Statement of Information” or Annual report which updates the state on your business address and other things. Florida corporations can efile. There is a $400 late fee for all for-profit corporations who do not make the May 1 deadline.

Franchise Taxes: Florida requires a franchise tax due on the last day of the month in April, June, and September, as well as on the last day of the tax year. This is calculated as a percentage of the company’s net income for that year.

Important Florida Contacts:

Florida Department of State

Florida Taxation Departments