Seven Reasons Why Florida for Your LLC or Corporation in 2016 and Beyond

Earlier in 2016, a document leaked called the “Panama Papers” surfacing in the Wall Street Journal introduced the world to offshore corporations based out of Panama, as referenced as the “last tax shelter in the world”, and their alleged illegal practices of shielding and hiding finances from the IRS.

While the topic of tax shelters will no doubt be an ongoing red hot topic, we as organizers and incorporators of Limited Liability Companies and corporations in states such as Nevada, Wyoming, Delaware, Florida, Montana, and Texas are in no way advocating illegal activity, fraud, tax evasion, or money laundering, we are simply educating you the reader as to legal avenues for safer smarter, better business tax strategies that have been and are legally available to you.

See our video with longtime Nevada and Wyoming Limited Liability Company and Corporation advocate and business and compliance attorney R. James Eckley on why you should consider this as a legitimate business practice.

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Seven Reasons Why Florida for Your LLC or Corporation in 2016 and Beyond

1. State Taxes:
   There are no state taxes in Florida for LLC’s. A simple form filled digital annual report filing is all that is required with an annual fee of $138.75.
2. Member/ Manager Listing in Public Records:
   Just as in the state of Wyoming, no disclosure of individual names or addresses of members or managers need to be made.
3. Florida Stock Issuance:
   If one is considering a corporation, then the blank stock issuance provision just like in the state of Delaware is available allowing greater control and flexibility giving rise to why so many Fortune 500’s elect the state for incorporation.
4. Florida Multi-Member LLC’s:
   Florida amended its laws in 2011 following a Supreme Court case to clarify and specify with certainty that a charging order is the exclusive sole remedy for multiple member LLC’s after the matter became vague and unclear.
5. Florida Asset Protection Laws:
   Florida as previously mentioned is a “Sole Remedy” State that specifies that in the absence of cases of fraud, tax evasion, money laundering, or any other illegal activities, a charging order is the only available means for a creditor to lien an a multiple member LLC.
6. Assets Protection of the Florida LLC Against the Personal Creditors of the Members:
   A creditor cannot take any membership in an LLC nor vote in place of a member, and instead only a gain a charging order in court.
7. Creditor Distribution Requirements in the Cases of Successful Charging Order Protection Against LLC’s:
   Only in the cases of voluntary and voluntary only agreed upon in writing wherein the agreement does not conflict with the operating agreement can creditor distributions be made in Florida.