I
United States

United States

Company Formation in Florida

State of Florida — Division of Corporations (Sunbiz)

Formation Time
2–4 business days
Min. Capital
No minimum
Corporate Tax
0% state (LLC pass-through); 5.5% (C-Corp over $50k exemption)
Foreign Ownership
100%

Overview

Florida is the premier commercial hub connecting the United States with Latin America and the Caribbean. With the fourth-largest economy in the US ($1.6 trillion GDP) and over 22 million residents, Florida offers 0% personal income tax, 0% state corporate tax for pass-through LLCs, and a competitive 5.5% corporate income tax rate on C-Corporations (with a generous $50,000 exemption). Miami has surged as a premier international capital for fintech, cryptocurrency, venture capital, and cross-border trade, while Orlando and Tampa anchor robust aerospace, technology, tourism, and healthcare industries. The Florida Department of State Division of Corporations (Sunbiz) offers efficient corporate filings, and the state's international banking infrastructure in Brickell (Miami's financial district) provides unmatched wealth management and Latin American trade finance facilities.

Latin America trade hub
0% state income tax
Miami fintech boom
Brickell banking center
$50k CIT exemption

Why Choose Florida

1

Gateway to Latin America and Caribbean markets with world-class international airports and ports

2

0% state personal income tax and 0% state corporate income tax on LLCs

3

Miami / Brickell financial district is the second-largest international banking hub in the US

4

4th largest state economy in the United States with massive internal consumer market

5

Generous $50,000 corporate income tax exemption for C-Corporations (5.5% thereafter)

6

Rapid business migration from Northeast US (Wall Street South)

7

No minimum capital requirements and fast electronic filing through Sunbiz

8

Extensive double tax treaty integration and remote international banking support

Business Entity Types

EntityOwnershipDirectorsCapitalTaxBest For
LLC100%N/A (member or manager managed)NonePass-through taxation; 0% Florida state corporate tax; 0% federal for foreign owners with no US incomeInternational trade, e-commerce, digital marketing, real estate, Latin American import/export
C-Corporation100%1None21% federal CIT; 5.5% Florida corporate income tax on net income exceeding $50,000Companies planning venture funding, equity compensation, or physical Florida operations

Step-by-Step Formation Process

1

Sunbiz Name Verification

1 day

Search Florida corporate records to guarantee legal name uniqueness.

2

Articles of Organization Filing

2–4 business days

Submit formation documents via Sunbiz portal.

3

Federal EIN Application

3–10 business days

Obtain corporate tax identification number from IRS.

4

FinCEN BOI Filing & Operating Agreement

1–2 days

Complete federal beneficial ownership reporting and execute corporate bylaws/agreement.

5

Corporate US Bank Opening

3–5 days

Establish corporate accounts with digital or brick-and-mortar US banks.

Costs & Fees

Government / License FeeUSD 125+
Our Service FeeUSD 850 – 2,200
Annual RenewalUSD 138.75+

Fees are indicative and may vary based on business activity, entity type, and additional approvals required. Contact us for a precise custom quote.

Get Custom Quote

Banking

Florida, particularly Miami's Brickell Avenue financial center, is home to dozens of international banks specializing in Latin American, European, and cross-border trade finance, alongside digital platforms like Mercury and Relay.

Account Opening Time
3–7 business days
Multi-Currency
Yes — multiple currencies supported

Recommended Banks

City National Bank of FloridaBanesco USAMercuryRelayJPMorgan Chase

Tax Overview

Corporate Tax
0% state tax for LLCs; 5.5% for C-Corps (first $50k net income exempt); 21% federal
Personal Income Tax
0% state personal income tax
VAT / Sales Tax
6% state sales tax (plus local surtax up to 2%)
Capital Gains Tax
0% state capital gains tax
Withholding Tax
30% federal statutory (reduced by treaties)
Double Tax Treaties
68 countries

Florida has no state personal income tax. Florida LLCs are pass-through entities and pay zero Florida corporate tax unless they elect corporate taxation. Annual report fee is $138.75 for LLCs due by May 1 (strict $400 late fee if missed).

Frequently Asked Questions

Do LLCs pay corporate income tax in Florida?
No. Florida Limited Liability Companies treated as partnerships or disregarded entities for federal tax purposes pay 0% Florida state corporate income tax. Only C-Corporations (and LLCs that specifically elect to be taxed as corporations) pay the 5.5% Florida corporate tax, which includes a generous $50,000 exemption.
What is the penalty if I miss the Florida Annual Report deadline?
The Florida Division of Corporations imposes an automatic, non-negotiable $400 late penalty on any LLC that fails to file its annual report by May 1. Continued non-filing leads to administrative dissolution in September. Incorp International handles all client annual report filings to prevent late penalties.
Why is Florida ideal for Latin American and cross-border entrepreneurs?
Florida is the primary commercial and logistical bridge between the US and Latin America. Miami's bilingual professional workforce, extensive consular corps, direct flight connectivity, and specialized international banking sector make it effortless to coordinate regional operations.
Are member and manager names public in Florida?
Yes. Unlike Wyoming, Florida's Division of Corporations (Sunbiz) requires at least one manager or managing member to be listed on public records. If total public privacy is required, founders can use a manager-managed structure with a nominee or corporate entity.
Can a foreign national own real estate through a Florida LLC?
Yes. Holding Florida real estate through a Florida LLC is standard practice for foreign investors to shield against personal liability, simplify ownership transfers, and establish clean asset holding structures.
Can I open a US bank account for a Florida company remotely?
Yes. Through Incorp International's banking partnerships, foreign owners can open fully functional FDIC-insured US corporate bank accounts remotely without visiting Florida.