General Florida Profit Corporation

This is the most common corporate structure. The corporation is a separate legal entity that is owned by stockholders. A general Florida profit corporation may have an unlimited number of stockholders that, due to the separate legal nature of the corporation, are protected from the creditors of the business. A stockholder’s personal liability is usually limited to the amount of investment in the corporation and no more.

ADVANTAGES of Florida Profit Corps:

  • Owners’ personal assets are protected from business debt and liability
  • Florida Corporations have unlimited life extending beyond the illness or death of the owners
  • Tax free benefits such as insurance, travel, and retirement plan deductions
  • Transfer of ownership facilitated by sale of stock
  • Change of ownership need not affect management
  • Easier to raise capital through sale of stocks and bonds

DISADVANTAGES of Florida Profit Corps:

  • More expensive to form than proprietorship or partnerships
  • More legal formality
  • More state and federal rules and regulations
  • I want to incorporate now as a Florida Profit Corporation >
General Florida Profit Corporation