After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Florida corporations.
Florida corporate records
Florida corporations are required to keep the following items with their corporate records:
- The Articles of Incorporation and any amendments
- Bylaws or restated bylaws and any amendments
- Minutes of all meetings of directors and shareholders for the last three years
- Resolutions adopted by the board of directors creating one or more classes or series of shares and their relative rights, preferences and limitations
- A record of all actions taken by shareholders or directors without a meeting for the last three years
- A record of all actions taken by a committee of the board of directors in place of the board of directors
- All written communications to shareholders for the past three years
- A record of shareholders listed alphabetically and by series of shares held by each
- A list of names and business addresses of the current directors and officers
- The corporation’s most recent annual report
Florida corporate taxes and fees
The following are taxation requirements and ongoing fees in Florida:
- Annual report and franchise tax. Florida requires corporations to file an annual report before May 1. The fee is $150. Florida also requires a franchise tax, due on or before the last day of the 4th, 6th and 9th months as well as the last day of the tax year. It is calculated as a percentage of the company’s net income for the year.
- Taxes. For complete details on state taxes for Florida corporations, visit Business Owner's Toolkit or the State of Florida.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Florida does not require a state tax identification number.
Florida business licenses
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Florida recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional Florida information
View the following additional resources BizFilings has for forming and maintaining companies in Florida:
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