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Business owners in Florida often want to ensure their company can pass smoothly to loved ones or successors without probate. But some businesses—especially professional service entities—can’t be directly titled into a revocable trust due to state licensing restrictions. That’s where a nomination agreement becomes a powerful tool. What Is a Nomination Agreement? A nomination agreement…
Small businesses present a particular challenge to Florida Estate Planners. First off, businesses can operate in a wide variety of entities. Secondly, they may be more valuable being carried on than simply liquidated and distributed. Finally, businesses owned by more than one person must consider what happens if one of those owners died or became…
Corporations are one of the most commonly used business entities in the world. Properly set up, corporations limit the liability of the owners (or shareholders) to their investment in the corporation. Without this liability protection, business owners’ personal assets are subject to the debts of the business. Corporations come in three primary tax forms: C…
Limited liability companies, or LLCs, are one of the most versatile business entities available to business owners today. Like corporations, they provide limited liability to the owners. However, they can be taxed as a sole proprietorship, partnership, or Corporation. This gives incredible flexibility in choosing the most advantageous tax entity while also providing limited liability….
May 1st is the deadline to file annual reports with the Florida Department of State for Florida Companies. Late filings incur a late fee of $400, and continued failure to file can result in administrative dissolution of your company. If you have any questions regarding renewing your company, please contact us.