All Topics > Business Services > Overview: Corporations >

Overview: Corporations Florida

While incorporation requires more paperwork and expense than sole proprietorship,it does give you one critical benefit - protection from liability.

Local Companies

AAA Private Investigations Inc
904-449-4405
5800 Beach Blvd
Jacksonville, FL

Cross Investigations Agency Inc
904-230-1331
5663 Greenland Rd
Jacksonville, FL

C2pi Investigations
786-285-8300
5161 Collins Ave
Miami, FL

Bermudez Investigations Inc
813-374-0179
6920 W Linebaugh Ave
Tampa, FL

A Plus Investigations Inc
407-886-0770
522 S Hunt Club Blvd
Orlando, FL

Callins Investigations & Security Services PA
407-324-3949
3551 W Lake Mary Blvd
Orlando, FL

Criminal Justice Associates
407-571-6900
101 Southhall Ln
Orlando, FL

Allstar Investigations
(305) 822-7238
3800 W 6th Ave
Hialeah, FL

Beachfront Realty, Inc.
786-344-8776
960 Arthur Godfrey Rd
Miami Beach, FL

Alpha Group
904-493-6444
4720 Salisbury Rd
Jacksonville, FL

While incorporation requires more paperwork and expense than sole proprietorship, it does give you one critical benefit - protection from liability.

A corporation is a separate legal entity from the person (or people) that owns it. The corporation, not the owner, enters into business deals, owns property, borrows money, and engages in other business activity. Because the corporation is involved in these business deals, you and your personal assets will, in many cases, be protected from liability if something goes wrong.

For businesses with more than one owner, incorporating can often protect you from the actions and misdeeds of your co-owners. This is unlike a partnership, where each partner is personally liable for the business-related actions of all the partners.

There are other benefits to incorporating. You can gain access to benefit plans only available to corporations. It also creates a positive image for your company - when you are trying to raise capital, obtain credit card merchant status, win certain kinds of new customers, or do business in foreign countries, incorporation can be important for appearance's sake.

You should be aware that corporate liability protection is not absolute. If you are interested in incorporation because of the protection it promises, look at the following exceptions:

It cannot protect you from your own bad acts. Being a director of a corporation does not protect you from personal liability from the wrongs you personally commit. For example: You run a package delivery service and you fill in for a driver who has called in sick. If, in the process, you run into a busload of people, you are personally liable for the damage.
It cannot protect you from things you personally guarantee. Banks and some corporate creditors often require personal guarantees from people in a corporation. So if your business were to fail, you would be personally responsible for repaying these debts. In addition, you don't want to become personally liable inadvertently... so be certain your name, title, and company name are on anything you sign.
It cannot protect you from owing governmental trust fund taxes (withholding taxes and sales taxes). When taxes are held in trust, all officers and anyone who has check-signing authority are jointly liable to the government for these taxes. That means that as a principal, you cannot hide behind the corporation and will be personally liable for these taxes if they are not paid.
It cannot protect you from some state laws. New York, for example, has a law which says that the ten largest shareholders of a corporation are personally responsible for unpaid employee wages. If a restaurant operates for three years and goes out of business, the owners and principals are personally responsible for any unpaid salaries.
It cannot protect people in certain professions. Professionals including doctors, lawyers, and accountants are personally liable in any lawsuit.

Featured Local Company

AAA Private Investigations Inc

904-449-4405
5800 Beach Blvd
Jacksonville, FL

Read more about Overview: Corporations

- Partnerships and Limited Liability Companies Florida

While corporations have rigid rules about how they are structured, partnerships and limited liability companies allow the division of management authority, profit sharing and ownership rights among the owners to be very flexible. Read this article and learn more.

- Business Entities Florida
- Surveys: Scam Or Success? Florida
- The Merger Process Florida
- International Trade Florida
- Professional Corporations Florida
- Getting Sponsorship for Your Project Florida
- Corporate Reputations Florida
- S Corporation Facts Florida
- Nonprofit Corporations FAQs Florida

Regional Articles

- Corporate Reputations Florida

There are several reasons you may want to check out the reputation of a corporation or business. First, you may be intending to do business with them, or want to invest in the corporation, or want to buy goods or services or even want to join the corporation as an employee.

- Professional Corporations Florida
- Nonprofit Corporations FAQs Florida
- Partnerships and Limited Liability Companies Florida
- International Trade Florida
- Surveys: Scam Or Success? Florida
- Getting Sponsorship for Your Project Florida
- S Corporation Facts Florida
- Business Entities Florida
- The Merger Process Florida

Related Local Events

North -Northwest Council
Dates: 12/17/2009 - 12/17/2009
Location: Clarion Hotel
Jacksonville, FL
View Details

Tourism Committee Meeting
Dates: 12/17/2009 - 12/17/2009
Location: St. Lucie County Chamber of Commerce
Port St. Lucie, FL
View Details

Toastmasters
Dates: 12/17/2009 - 12/17/2009
Location: Leeza's Place
Pembroke Pines, FL
View Details

Membership Committee Meeting
Dates: 12/17/2009 - 12/17/2009
Location: Chamber Office
Pembroke Pines, FL
View Details

West Council
Dates: 12/17/2009 - 12/17/2009
Location: Florida Yacht Club
Jacksonville, FL
View Details

Advertising	Food & Beverage	Nightlife
Business Services	Franchise	Online Database
Career	Health	Pets
Cars	Holidays	Real Estate Resources
Computer Hardware	Home Appliances	Retail & Consumer Services
Construction	Home Electronics	Software
Education	Home Services	Technology
Entertainment	Industrial Goods & Services	Telecommunications
Environmental	Insurance	Trade Shows
Family	Internet	Travel
Fashion	Legal	Weddings
Financial Services	Miscellaneous	World History

Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History