Florida is one of the leading states when it comes to new business formation according to the State of Florida, Division of Corporations. There are a lot of variables and advantages to consider in incorporating your business. But Florida Corporations enjoy a lot of advantages compared to other forms of doing business.

Corporations in the State of Florida not only enjoy having no state corporate income tax, but here are an additional 7 reasons why running your Florida business out of a corporation is the wise choice:

1. Limited Liability

If this isn’t reason enough, then what is? With limited liability, shareholders or company principals are protected from personal liability in almost all cases. For instance, if a corporation in Florida is indebted, creditors won’t be able to collect from shareholders. If you sign a personal guaranty, then you are liable for that agreement only.

2. Tax Advantage

You’ll be able to deduct expenses from your reportable income for Federal income tax purposes. Deductions will include salaries and retirement and health plan contributions. There also is no self employment tax which you may have to pay as a sole proprietor or sole member Limited Liability Company. And again, there is no Florida state corporate income tax.

3. Perpetual Existence

Corporations in Florida enjoy a continuous existence regardless of any changes in ownership.

4. Professional Appearance

Running your Florida business as a corporation gives you a more professional appearance, which is important in your marketing efforts, and helps when trying to obtain bank loans.

5. Employee Benefits

You’re better structured to accommodate employees with attractive benefits that will greatly assist your business in hiring the best candidates.

6. Lower Fees

In Florida, corporations enjoy low filing fees by as much as 25% compared to other states.

7. Undertake All Lawful Activities

The State of Florida allows corporations to conduct any type of business activities that are lawful. In view of this, all legitimate businesses should incorporate.

These are just seven of the reasons why operating your Florida business as a corporation is the ideal way to go. The State of Florida, Division of Corporations, provides a pro-business atmosphere to attract and help investors and entrepreneurs.