Are you thinking of bringing your entrepreneurial idea to Florida? Here are some common questions for Florida business owners and how lawyers can help.
How do I set up a business in Florida?
Once you have a solid business plan, the next step is formally establishing your business. A lawyer can walk you through the various business structures and explain the cost, benefits and downsides of each when it comes to doing business in Florida.
What kinds of licenses does my business need?
Certain types of businesses will require licenses and/or permits to operate in Florida. You do not need to obtain a license with the state, but you may be required to get a business license at the city level. If your business sells products or goods, the Florida Department of Revenue requires a sales tax permit.
As you work with a lawyer to establish your business, they can help you obtain the proper licenses.
How will my Florida business be taxed?
Part of the reason Florida is so appealing to entrepreneurs is because it is a tax-friendly state. Corporations do need to pay an income tax, but other business entities (such as LLCs and S corporations) do not.
An entrepreneur can engage a lawyer to understand the tax liability for their business.
What can I expect if I plan to hire employees for my businesses?
If your business needs to hire employees, be prepared to comply with all state and federal regulations regarding the employer and employee relationship. For example, businesses in Florida are required to report any new hires to the state within 20 days. Business owners in the state must also pay reemployment tax.
A lawyer well-versed in Florida employment law can help entrepreneurs keep up with their legal obligations as employers.
How could COVID-19 affect my business?
Businesses have struggled during the COVID-19 pandemic. Statewide-shutdown orders and necessary safety precautions have devastated the bottom line, while concern of spreading the virus raises employee and customer safety issues.
Florida is a major tourist destination, and businesses likely want to capitalize on spring break crowds, but does this open them up to the risk of litigation?
New legislation passed in March, “Civil Liability for Damages Relating to COVID-19,” will provide significant protection for businesses when it comes to lawsuits related to this pandemic.
But, it is still important for businesses to know their obligations. A lawyer can help Florida businesses navigate the regulatory environment during the pandemic.
The nuances of business laws can quickly become complex, whether you are operating in Florida or any other state. A lawyer with experience in the business laws of your state can help you get your entrepreneurial idea off the ground and running in complete compliance with local, state and federal laws.
This article is intended to convey generally useful information only and does not constitute legal advice. Any opinions expressed are solely those of the author, not LawChamps.
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