Open a New Business
Whether it be Limited Liability Companies (LLCs) or Corporations, we understand that starting a new business can be overwhelming, which is why our team of experienced professionals is here to guide you through the entire process. From choosing the right business structure to filing the necessary paperwork, we handle all the legal and administrative aspects of forming a new company.
Business Corporate
In Florida, business owners can choose from several entity types, each with unique legal and tax implications. The primary structures include Limited Liability Companies (LLCs), corporations, and sole proprietorships (including DBAs). Understanding these options is crucial for effectively managing risk, taxes, and operational flexibility.
Importance of Choosing the Right Entity Type for Your Business Goals:
Selecting the appropriate business structure is essential for achieving your specific business objectives. The right entity can influence your personal liability, tax obligations, and overall management flexibility. Making an informed choice ensures you align your business goals with the legal and financial framework that best supports them.
Limited Liability Company (LLCs)
An LLC is a flexible business structure that allows for various management styles and tax treatments.It provides limited liability protection to its owners (known as members), meaning their personal assets are generally shielded from business debts and liabilities. It can be formed by one or more individuals or entities, making it a popular choice for small and medium-sized businesses.
A Limited Liability Company (LLC) offers flexibility, tax benefits, and liability protection for owners. At KCO ACCOUNTING, we help you set up an LLC that aligns with your goals by:
-
Ensuring Compliance: We handle all paperwork and filings required to legally form an LLC in Florida.
-
Tax Structure Advice: LLCs can choose various tax classifications. We’ll advise on the option that best minimizes your tax burden while aligning with your business goals.
-
Operational Guidance: Our team will help you understand LLC management, whether you choose member-managed or manager-managed structures.
*This structure is ideal for small to medium-sized businesses seeking liability protection and tax flexibility.
These are the benefits of forming an LLC:
-
Your personal assets are protected if the business experiences bankruptcy or lawsuits.
-
You can pass profits and losses through your personal income without having to pay corporate taxes.
-
An LLC is easy to register and maintain.
-
You can have one or more members.
-
Payment is unrestricted to an LLC’s members.
Corporations
A Corporation in Florida is a formal business structure that exists as a separate legal entity from its owners (called shareholders). This separation provides liability protection for owners while offering the corporation its own rights and responsibilities. Corporations can continue indefinitely, allowing for flexibility in ownership changes without affecting the company’s operations. In Florida, corporations can be structured as C Corporations or S Corporations, each with unique tax implications.
This is the traditional corporation type, taxed as a separate entity from its owners. It can have an unlimited number of shareholders, making it ideal for larger businesses looking to raise capital through stock.
A Corporation is a more formal entity, and it offers opportunities for growth, investment, and long-term credibility. KCO ACCOUNTING provides essential guidance in forming either a C or S Corporation:
-
Entity Setup and Compliance: We’ll take care of registration and compliance to ensure your corporation meets all state and federal requirements.
-
Tax Planning: Corporations offer specific tax benefits and liabilities. We help you evaluate whether a C Corp or S Corp suits your financial strategy.
-
Financial Strategy & Record-Keeping: Corporations require detailed record-keeping. Our accounting services keep you on track with compliance, saving you time and helping you focus on growth.
This structure is excellent for businesses with growth aspirations, especially those considering stock offerings or seeking investment.
DBA
(Doing Business As)
Also known as a fictitious name, is not a legal business entity but rather a registration for businesses operating under a name other than their official legal name. Florida requires DBA registration if your business name is different from your personal name or the legal name of your corporation or LLC.
01
Simplicity
DBAs are quick and inexpensive to register. They are commonly used by sole proprietors, partnerships, and existing corporations or LLCs wanting to operate under different names.
03
Brand Expansion
DBAs allow you to create a new brand or service line under an existing LLC or corporation. We help streamline the financial setup for each new venture.
02
No Liability Protection
A DBA does not create a separate legal entity or offer liability protection. Owners are personally responsible for the business's liabilities and obligations.
04
Set up & Accounting for DBAs
While a DBA does not provide liability protection, we offer accounting services tailored to your business needs, ensuring your finances are well-managed from day one.
Get to Know Our Services
We are fully committed to helping you with your new project. We are the accounting firm you can trust to open your new business and, If you don’t see the type of entity you need in this section, contact us and feel free to share your needs—we will assist you in every way possible.
Foreign Florida Business
Expanding into Florida with an existing business? If you already have a business registered in another state but wish to expand into Florida, you’ll need to register as a Foreign Florida Business. KCO ACCOUNTING will guide you through registering your company so you can legally operate without forming a new entity.
01
Compliance with Florida Law
Registering as a foreign entity allows you to legally operate in Florida while maintaining your original registration in another state.
03
Streamlined Expansion
This is ideal for companies that want to expand their market reach into Florida without forming a new entity.
02
No Liability Protection
Your business keeps its original structure, whether it's an LLC, corporation, but you must meet Florida's registration requirements.
04
Ongoing Support
Our team ensures your business meets all Florida requirements, from tax filings to operational compliance. s you grow, we provide ongoing accounting and advisory support to help you manage your expansion effectively
