Florida Business Incorporation Attorney

If you are starting a business, you probably have questions regarding the appropriate tax structure for your business.  Common questions you may have forming a business in Florida include liability questions, tax implications and ease of management.

When you need advice and consultation on how to form your business in southern Florida, contact the attorneys at Vazquez and Associates.  We will work with you through each step of forming your business. We can also handle the filing of all formation documents and help get your business on the right path. 

Overview of the various business formation options.

Contact Vazquez and Associates to help determine which structure best meets your individual business start up needs.

Sole Proprietorships
A sole proprietorship is formed automatically when an individual conducts business. 
With a sole proprietorship, personal assets are exposed to creditors when conducting business. Gains and losses are reported on the individual's personal income tax return. The ease of creation and lack of formality is an advantage of a sole proprietorship. 

General Partnerships
General Partnerships ("GPs") are formed when two or more individuals conduct business together. General partners are personally liable the creditors of the business are vulnerable.  As a result general partnerships should consider liability insurance to help manage the associated risks. Income and losses are reported directly on the individuals' tax returns.  A partnership agreement is recommended, but not required for a general partnership.

Limited Partnerships
Limited Partnerships ("LPs") are formed by filing a certificate of limited partnership. Limited partnerships consist of limited partners and general partners. Liability falls on general partners and not to limited partners unless they participate in the management of the business.  Income and losses are reported directly on an individuals income tax.

Limited Liability Partnerships
Limited Liability Partnerships ("LLPs") are like General Partnerships as far as taxes go.  A Limited liability partnership is formed by filing an application for registration. Partners are allowed to actively participate in management with limited liability.

Limited Liability Company
Limited Liability Companies ("LLCs") are formed by filing articles of organization with the state. An operating agreement is entered into by members of the LLC. LLCs offer limited liability to all members, and do not require the formalities of corporations. They also offer considerable flexibility with respect to control and management.

C Corporations
Corporations are formed by filing articles of incorporation with the state. The owners are called shareholders, and are issued shares of stock. The shareholders elect a board of directors, which in turn elects officers to carry out the day to day business of the corporation. When only a single owner or small number of owners create a corporation, the same individual or individuals can serve as shareholders, directors, and officers.

S Corporations
S Corporations are formed by filing articles of incorporation with the state. With and S Corporation, income is taxed at the individual level rather than at the corporate level.  The provide limited liability and therefore are an attractive choice for small businesses.