Business Entities in Florida
A business entity is a legal structure formed under Florida law to conduct business, providing varying levels of liability protection, tax treatment, and management flexibility depending on the entity type selected.
Entity Types
Florida recognizes corporations (Chapter 607), LLCs (Chapter 605), general partnerships, limited partnerships (Chapter 620), LLPs, sole proprietorships, and nonprofit corporations (Chapter 617). The LLC is the most popular choice due to liability protection, tax flexibility, and minimal formalities.
Selection Factors
Entity selection considers liability protection, tax objectives, capital raising needs, management structure, and exit strategy. Florida LLCs provide pass-through taxation and limited liability; corporations facilitate capital raising and ownership transfers; partnerships suit professional practices and joint ventures. An attorney and CPA should advise on entity selection.
Related Terms
Barnes Walker Business Law
Barnes Walker forms and advises Florida business entities. Contact us for business formation guidance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC