Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corporation With One Shareholder In Palm Beach
State:
Multi-State
County:
Palm Beach
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
In Florida, like in most states, a single-member LLC generally provides a level of personal asset protection for the owner. This protection is a key benefit of forming an LLC.
Filing an S Corp in Florida Step 1: Choose a Name. Use the Florida Department of State to find a business name that's not being used by another entity. Step 2: File your Articles of Incorporation. Step 3: Apply for a Business License. Step 4: Get Your EIN. Step 5: Submit the Form.
In Florida, a corporation is only required to have at least one director, however you are permitted to have more. That same person may also be the only shareholder and officer.
(2) The number of directors may be increased or decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or the bylaws, but the corporation must never have fewer than three directors.
Yes, it's possible. If a single person or entity owns all the issued shares, they fully control the corporation. This often happens with small private corporations, where founders or close groups maintain full ownership to retain control over corporate assets, decisions, and profits.
The Court clarified that Section 18 (2) of CAMA 2020, which allows private companies to have a single shareholder, applies to all private companies regardless of their date of incorporation.
While both the Florida LLC and Florida S-Corporation protect the owners' individual assets from business liabilities, only the LLC shields business ownership from creditors of the shareholders. An S-Corp offers similar liability protection but requires specific ownership and tax structure considerations.
Filing an S Corp in Florida Step 1: Choose a Name. Use the Florida Department of State to find a business name that's not being used by another entity. Step 2: File your Articles of Incorporation. Step 3: Apply for a Business License. Step 4: Get Your EIN. Step 5: Submit the Form.