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Business Law

Registering a Florida Business Entity? Beware of Suspicious Notices that Request Money for Certificates or Filing Fees

March 5th, 2018

Posted in Business Law,General Practice

Last year, the Florida Division of Corporations saw a total of 395,777 business entity filings.[1]  Some of these entities may have received correspondence from various companies, claiming the entity has “one step left in order to attain your elective Florida Certificate of Status and corporate agreement templates.”  The correspondence goes on to request a fee, usually approximately $70.00, with instructions for remitting payment.

Most, if not all, of this type of correspondence is not sent by the Florida Division of Corporations.  Once a business entity or registration is properly formed, incorporated, organized or registered on record with the Florida Division of Corporations, it is not required to purchase or receive a certificate of status to be considered valid.
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Considerations for Moving a Business to Florida

January 22nd, 2018

Posted in Business Law,General Practice,IRS & Tax Information

The Tax Cuts and Jobs Act, which was signed into law on December 22, 2017, has far-reaching implications for many Americans.  However, one outcome that may affect all Floridians is the prospect of more neighbors.  The new federal tax bill generally favors more competitive, low tax states such as Florida.  In addition to added residents, Florida may see an increase in companies that call Florida home. For years, Florida has boasted a favorable tax climate for businesses.  Some tax incentives that attract business owners include a broad range of sales and use tax exemptions available to business, as well as the absence of corporate taxes for limited partnerships and some other entity forms, to name a few benefits.  
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Vacation Rental Regulations in Florida

June 9th, 2017

Posted in Business Law,Real Estate Law

For some St. Augustine homeowners, vacation rentals are a steady source of income, but others argue that this revenue isn’t worth the cost to the community and describe these transient rentals as a “nuisance.”  Transient rentals are units or homes that are rented more than three times in a calendar year for a period of less than 30 days.  A search in the St. Augustine area for Airbnb or VRBO reveals that the industry is alive and well.   
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Florida Sales Tax on Transient Rentals

February 17th, 2017

Posted in Business Law,IRS & Tax Information

Transient rentals are a thriving business in Florida, and one which many Florida real estate owners may utilize in an attempt to supplement their income.  Generally speaking, a transient rental is one that lasts for less than six (6) months.  What many property owners do not know is that transient rentals are subject to Florida sales tax.  Florida law requires that property owners charge to, and collect from, each transient guest an additional six percent (6%).
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Understanding Self-Employment Tax (What is it and Who Must Pay it)

December 2nd, 2016

Posted in Business Law,IRS & Tax Information

If you are a Florida small business owner, independent contractor, or otherwise self-employed, it’s important to note that you may be liable for self-employment taxes.  Generally, the term self-employment tax refers to the Social Security and Medicare taxes for taxpayers who are self-employed.  Self-employed individual should calculate and report your self-employment tax on Schedule SE of their form 1040.
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St. Johns County Local Business Tax

September 30th, 2016

Posted in Business Law,General Practice,IRS & Tax Information

When the State of Florida turned St. Johns County over to local government in 1972, the county elected to collect local business taxes (formerly known as occupational licenses). The local business tax, County Ordinance 72-2, requires all individuals or organizations doing business located in or operating in St. Johns County to obtain a local business tax receipt. The tax is paid annually with the fiscal year beginning on October 1.
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Important Deadlines for Taxpayers in 2015

March 25th, 2015

Posted in Asset Protection,Business Law,General Practice,IRS & Tax Information

Calendaring important IRS and tax authority deadlines can save you a lot of headaches at tax time.  To avoid paying penalties and other tax consequences, keep a calendar and review tax deadlines with your Accountant, CPA, Enrolled Agent, or Tax Attorney.  Jackson Law Group has tax attorneys that can assist you with IRS or other tax problems.  The below items are a few examples of important dates:
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Owners of a Florida Professional Business are Restricted

November 26th, 2014

Posted in Business Law,General Practice

Florida law regulates the ownership of a professional limited liability company or professional corporation in an effort to safeguard the public from adverse interests.  See our prior two Blog Posts (LINK 1) (LINK 2) for more information on professional businesses.  Under Chapter 621 of the Florida Statutes, a professional business’s owners may only be professional limited liability companies, professional corporations, or individuals who are duly licensed or otherwise legally authorized to render the same professional service.[1]  Each owner must be licensed or otherwise legally authorized to conduct the professional service that the entity is organized or incorporated for.  For example, under this provision, a Florida attorney, accountant, and life insurance agent are prohibited from forming and operating a single professional entity. 
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