You have an amazing idea and would like to start your own business in Florida. You have a vision, a business plan, and capital. To navigate the entrepreneurial landscape, you only need legal advice. Sparks Law has the experience to help you move forward with chartering your entity. An experienced business attorney Florida will help you with the initial steps and all future legal matters.
The Business Plan
It is essential to create a plan in order to achieve your business goals. Our Florida attorneys are experienced in helping clients to create a plan and manage it. Business owners need to have a well-written plan in order to be eligible for loans or investors.
The Business Operating Vehicle
These companies are able to be sued, make money, pay taxes and grow. The future of your business could depend on the choice of an operating vehicle.
A general partnership, for example, cannot file a registration declaration and make its public debut; only a corporation can. Certain tax structures might be preferred because they allow for pass-through status. Local business attorneys could help clients determine the right company entity to suit their needs.
Sole Proprietorship
One person is responsible for the sole proprietorship. The company’s debts are the sole responsibility of the owner. Florida law recognizes sole proprietors as one entity, and therefore no charter documents are required. The county may require permits for zoning, occupational, environmental, and business permits.
General Partnership
Each partner is responsible for their actions and shares profits and losses. Although county permits may be required for certain situations, no formal filing is necessary with the Florida Secretary Of State.
Limited Liability Company (LLC).
Members can own a percentage of limited liability companies (LLC). Because an LLC is considered a separate entity by the state, their liability for business losses will be limited. LLCs enjoy a pass-through tax status, which means that members pay taxes only on the distributions they receive from the company. The company doesn’t pay twice. LLCs are required to file paperwork with the state and provide an annual report along with filing fees.
Corporations
Shareholders own corporations and purchase equity to share in profits from rising stock prices or dividends. If they meet certain criteria such as a restricted number of shareholders, all corporations are chartered C corporations. However, they can choose to be S corporations. corporation is an Internal Revenue Service designation which offers shareholders a pass-through status in tax.
Contracts
A business attorney’s main function is to draft and review contracts. These documents cover employees, vendors and banks as well as shareholders and business combinations like mergers. Sparks Law’s business attorneys can help you litigate a matter if a party to a contract breaks it.
Role of a Business Attorney Florida
To protect their products, services and brands, businesses may use trademarks, copyrights, or patents. Taxes, mergers and acquisitions as well as employment issues and lawsuits may be required by businesses. These issues can be handled by a local business attorney Florida in compliance with federal and state laws, so you can focus on running your company.
It can be scary and intimidating to start a new venture. You need to think about the name of your company, the type of business in Florida that you want to start, marketing, staffing and many other things.
Hiring a business attorney Florida
Although hiring an attorney might not be your first thought, it is worth considering moving this task to the top. It can be like hiring a plumber. You only hire them when you have a problem, but hiring an attorney to help you plan your business will save you a lot of trouble down the line. These are just a few of the many ways a business formation attorney can help you.
Choosing a Legal Structure
The most popular types of business structures are the sole proprietorship, limited liability corporation (LLC), partnership, and corporation. There are special versions of certain types of these structures. Consider the financial benefits, tax structure and liability protection of each type. An attorney can help you discuss your business plans and help you decide which structure is right for you.
Corporate Governance
While you know you need an attorney to incorporate your company, if you decide to do so, you might not realize that an attorney can also help you keep your corporation’s status. An attorney will ensure that you comply with all state requirements regarding corporations. Failure to do so could lead to a lawsuit or another legal action.
Permits and Licenses
If you intend to sell goods in Florida you will need to register your company with the Department of Revenue. You will need many more licenses and permits. Failure to obtain these licenses or permits can make it difficult for your business to get off the ground. A business lawyer can help ensure that you have all the licenses and permits that your new business needs.
Intellectual property
Many business assets require legal protection such as the name and logo of the company and any distinctive goods and services. These items may be eligible for copyright protection. A business formation attorney can help protect your assets. You may also be eligible for trademark registration or patents on other items. However, you might not realize that your assets require protection until it is too late.
Locating an Experienced Business Formation Attorney Florida
This is only a small list of considerations when starting a business. There are many issues to consider when starting a business. A good attorney can be expensive. However, if you run into serious legal problems in your business, it could cost your entire business. An experienced business formation attorney such as Sonny Lozada will give you peace-of-mind and help you save thousands down the line. For a free consultation, contact her at any of his convenient Florida and Puerto Rico offices.
Get in touch with a Florida Business Lawyer
Running a business requires that you deal with legal issues every day. A trusted Florida business lawyer can help you with everything from filing requirements to conducting shareholder meetings, settling disputes over employment, protecting your intellectual property rights in court and merging or buying another business.
Sparks Law’s legal team can assist your business and you with these matters so that you can focus on your company goals. Contact us today to schedule a meeting.
