727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Incorporating Your Business

Corporation or Limited Liability Company?

What Does it Mean to Incorporate?

Incorporating a business means turning your sole proprietorship or general partnership into a company formally recognized by your state of incorporation.

When a company incorporates, it becomes its own legal business structure ─ set apart from the individuals who founded the business.

Through incorporation, the company’s owner or owners create a separate legal entity to transact business.

This new business entity ─ Corporation or Limited Liability Company (LLC) ─ transforms the way the business is seen through the eyes of the law and often has more credibility with potential customers, vendors and employees.

Why is Incorporating Important?

The primary benefit to business incorporation is limited liability.

When you own a small business, you will invest a lot of money into not only getting it launched, but in keeping it running smoothly as well.

As the owner, you are responsible for any debts and losses your business may accumulate along the way.

However, once you incorporate, you are typically only held responsible for the amount of money you personally invest.

Your personal assets typically cannot be used to satisfy the debts and liabilities of your business.

How Does a Business Become a Corporation?

Wondering how to incorporate a business as a C Corporation, S Corporation or how to form a Limited Liability Company (LLC)?

TaxGenuity Tax Experts handles every step of this process for you:

  1. We help you determine which business type is best for your business and goals.
  2. We verify the availability of the name of the corporation with the Florida Secretary of State’s Office.
  3. We obtain a Federal Employer Tax Identification Number (FEIN) from the IRS for your business.
  4. You assign the directors of the corporation or the members/managers of the LLC.
  5. You appoint TaxGenuity Tax Experts to be your Registered Agent. The Registered Agent must be listed on your Articles of Incorporation or Articles of Organization. As your corporation’s Registered Agent, we will receive important legal and tax documents on behalf of your business and forward them to you.
  6. We will prepare and file the Articles of Incorporation or Articles of Organization per instructions from the Florida Secretary of State’s office.

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