Florida Corporations Laws

There are many decisions that an owner is required to make when running a successful business. From an attractive business name to choosing the best type of business entity, these decisions can have certain ramifications that may effect a business's overall success. Since there are several pros and cons to forming a corporation under Florida corporations laws, it is important to be fully informed before taking this ambitious step. This is a quick summary of the corporate laws in Florida.

Incorporating a Business Under Florida Corporate Laws

Once a company determines that incorporation is the right move, the next thing to do is learn how to incorporate a business. While there are many steps required to forming a corporation under Florida corporate laws, checking for the availability of your business name needs to be a top priority. If a business name is already taken, any paperwork filed for a new corporation with the name of an existing business will be denied.

The following table outlines the specifics of Florida corporate laws.

Code Sections

Florida Statutes Chapter 607: Florida Business Corporation Act

Formation

In order to form a corporation, a document must satisfy the requirements of Florida corporation laws and must be filed in the office of the Department of State. One or more persons may act as the incorporator or incorporators of a corporation by delivering articles of incorporation to the Department of State for filing.

Articles of Incorporation

The articles of incorporation must set forth:

  • A corporate name for the corporation;

  • The street address of the initial principal office and, if different, the mailing address of the corporation;

  • The number of shares the corporation is authorized to issue;

  • If any preemptive rights are to be granted to shareholders, a provision stating this;

  • The street address of the corporation's initial registered office and the name of its initial registered agent at that office together with a written acceptance; and

  • The name and address of each incorporator.

Corporation Name

Under Florida corporation laws, a corporate name must contain the word "corporation," "company," or "incorporated" or the abbreviation "Corp.," "Inc.," or "Co.," to clearly indicate that it is a corporation instead of a natural person, partnership, or other business entity. Also, the name may not contain language stating or implying that the corporation is organized for a purpose other than that permitted by Florida law and terms of its articles of incorporation.

Purpose

Corporations may be organized under Florida corporation laws for any lawful purpose or purposes. This act extends to all corporations, whether chartered by special acts or general laws.

Fees

In order to file forms with the secretary of state, incorporators must pay filing fees. These fees are posted online and are subject to change.

If you would like legal assistance with forming a corporation, you can contact a Florida business organization attorney. You can also visit FindLaw's sections on corporate laws for more articles and information on this topic.

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