If you are starting up a new business in Largo, FL, you are probably focusing on finding a location, hiring employees, and getting ready to sell your products and services. One task that you may overlook, which is also one of the most critical, is ensuring you comply with federal, state, and local regulations regarding your business license. A knowledgeable Florida business formation attorney can tell you more about the laws that apply to your organizations, but some general information about business licenses in Florida can help you understand your obligations.
Federal Requirements
You should start at the federal level when obtaining your business license, as many of the forms you will file at the state and local level require you to have a Federal Employer Identification Number (FEIN). There are several ways you apply through the Internal Revenue Service, including online, by fax, or through the mail. The application for FEIN requires some basic information, including the contact information for your business and your name as the responsible party.
If you are a sole proprietorship, you can use your own Social Security Number for tax purposes on business license forms.
Florida Statutes
A limited liability entity offers the benefit of protecting your personal assets from debts of the company, but you do need to file the appropriate documents with the Division of Corporations through the Florida Department of State’s Office. Your options include a corporation, limited liability company, and different forms of partnership.
There are different rules governing sole proprietorships. If you are operating your organization under your own legal name, you do not need to file formation documents. However, you must file for a Fictitious Name if you are doing business under a brand name or other designation that differs from your legal name.
Local Laws in Largo, FL
With your business formation documents and FEIN in hand, you can proceed to obtain your business tax receipt, the official term for a business license in Florida. You must complete the necessary forms and submit them to the offices of the City of Largo. A few considerations to note include:
- Filing fees for a license vary depending on the type of business and the square footage of the location.
- You must comply with relevant regulations even if you operate your business out of your home.
- Business tax receipts run from October 1 of each year to the following September 30.
- Your business must have a license you provide goods and/or services to the general public.
- There may be additional licensing requirements for certain types of businesses, such as medical practices, restaurants, spas and salons, hotels, real estate companies, and many others.
Trust a Knowledgeable Lawyer to Assist with Your Florida Business License
If you are a current or future Pinellas County business owner that needs help with business tax receipts, please contact Clearwater Business Law at (727) 785-5100. We can schedule a free consultation with one of our business formation attorneys to review your situation, answer your questions, and help ensure you are in compliance with federal, state, and local laws.