All too often business attorneys do a disservice to businesses by not informing new business start-ups of their potential State of Florida tax liabilities. The attorneys of Hackworth Law, P.A., know that properly advising start-ups is more than registering the new business with the State. Advising a new business of its potential state tax liabilities at the time of its formation is crucial, and will save the business owner a tremendous amount of time, money and angst if state tax issues reveal themselves even several years down the road. And paying the proper business taxes are a requirement of every business, regardless of whether it is a sole proprietorship, limited liability company (LLC), corporation, or other business entity.
Know that upon beginning business in the State of Florida, a business owner must provide the State of Florida with information on its business activities and the types of taxes the business is responsible for collecting. The various tax liabilities, from Reemployment (formerly Unemployment) to Sales and Use Tax and more, can be found via the Florida Department of Revenue’s website.
The new business should register its tax liabilities with the State of Florida by filing a State of Florida Business Tax Application, also known as a Form DR-1. The DR-1 can be found for download on the Department of Revenue’s website. This is one of the critical first steps for proper payment of business taxes in Florida.
Once registered with the State of Florida businesses will be responsible for filing the proper reports and returns. Some of the commonly used forms for filing reports and returns can be found here.
Hackworth Law, P.A. highly recommends developing a relationship with a qualified business law attorney, regardless of your business endeavor, to ensure proper business taxes are paid, among other issues. If you have any questions as to what types of taxes your business is required to remit to the State of Florida, or any other business issue, please contact Hackworth Law, P.A. for consultation.