Florida Isn t Just For Tourists
When most people think of Florida they think of sunshine, palm trees and fabulous winter vacations. What most people don't realize is that Florida is also a great place to incorporate. If you own your own business or are considering starting one, you owe it to yourself to discover the benefits of a Florida corporation.
For starters, there is no personal income tax in the State of Florida. While regular corporations are subject to a 5.5% tax on federal taxable income over $5,000, if you incorporate your Florida business and elect S status you can have your cake and eat it too! Florida S corporations are NOT taxable entities and are therefore not required to file state income tax returns (except for the first year)...
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