The city of Jacksonville is a bustling and ever-growing city. A city like Jacksonville is a goldmine for entrepreneurs as it means more opportunities for business. There are two types of company that you can form, the first one is a sole proprietorship or partnership and the other one is a Limited Liability Company (LLC) or a corporation. Luckily, opening an LLC or corporation in Jacksonville, Florida is a breeze and you don’t even need to have a social security number. The following are some of the important things that you have to prepare to start a corporation in Jacksonville.
Company name: Choose a name for your company. The name should be unique and preferably will give potential customers an idea about what your business offers. After choosing a name, verify if that name is not taken in the list of registered of corporations in the State of Florida. In case a business with a similar name already has a record you have to choose another name.
Company Address: Another requirement is to have a principal address which should be a physical address. This cannot be a PO Box or PO section. A PO Box is only accepted as a mailing address. This information will be needed when filing Articles of Incorporation.
Type of Company: The next step is to decide what kind of company are about to form. You can choose limited liability company (LLC) or corporation. Decide on the legal structure that will affect the way your company as you organize, you’re going to drive your business, and you will pay taxes, also dictate that you will assume certain responsibilities.
EIN Filing: Since a company is a separate legal entity, it needs to acquire its own Tax ID. Businesses should also obtain a Federal Employer Identification Number from the IRS. The EIN should be used for any transactions of the company. However, if an LLC has a single member, there is no need to get a tax ID because the member can use their own Social Security number for all business transaction.
Business License: Another business requirement is to get a business license or occupational license. All businesses in Jacksonville should complete an application, obtain a registration from the City Clerk’s office and pay a $25.00 fee.
Bank Account: All types of company requires a bank account. Even an online shop or a home business needs its own bank account. All business related transactions should go through that bank account.