Business formation is the legal process of registering a business as a recognized entity with the state. It covers all structure types — LLC, corporation, partnership — and includes everything required to make the business officially exist: state filing, federal tax ID (EIN), and the legal framework the business will operate under.

Incorporation is the formal process of legally establishing a business as a separate entity from its owners. Once incorporated, the business can enter contracts, open bank accounts, and file taxes in its own name. In Florida, this means filing Articles of Incorporation or Articles of Organization with the Division of Corporations — both available through PAGIO's corporate services.

Formation is the broader term — it refers to legally establishing any business entity. Incorporation is more specific: it refers to forming a corporation. In practice, most professionals use the terms interchangeably. The more important question isn't the terminology — it's which structure fits your business.

Once the documents are ready, the Florida Division of Corporations typically processes filings within 3 to 5 business days when submitted online. We make sure everything is accurate before filing to avoid delays from rejected documents. You'll also receive your EIN from the IRS within a few days of that application, though timing can vary.

Yes. Every Florida entity — LLC or corporation — is legally required to maintain a registered agent with a physical street address in the state. The registered agent receives official government and legal correspondence on behalf of the company. This cannot be a PO Box. PAGIO's can fulfill this role or connect you to a reliable registered agent service.

All active Florida LLCs and corporations must file an annual report by May 1 each year. Missing the deadline triggers a $400 late fee and can eventually lead to administrative dissolution. We track this for clients through our annual payments service.

Yes. An LLC can elect S-Corp tax treatment by filing Form 2553 with the IRS, typically within 75 days of the beginning of the tax year you want the election to apply to. This doesn't change your state registration — you remain an LLC in Florida — but it changes how the IRS treats your income. The question is whether your business has reached the point where the tax savings from S-Corp status justify the added complexity. That's a calculation we're happy to walk through with you.

Technically you're not legally required to have one in Florida, but practically speaking it's essential. Mixing personal and business finances defeats the purpose of forming an entity. If you ever needed to demonstrate that the business is legitimately separate from your personal affairs — in a lawsuit, an audit, or a loan application — commingled accounts would undermine that case entirely. Your EIN is one of the documents most banks will ask for when opening a business account, which is another reason to get it handled at formation.

Yes. Florida places no citizenship or residency requirements on LLC ownership. Non-U.S. residents and foreign nationals can form and own Florida LLCs. The tax implications for non-resident owners are more complex — particularly around withholding requirements and treaty provisions — which is where working with a firm that understands international tax issues, as PAGIO's does, becomes particularly relevant.