What Do I Do If My Business Name is Not Available in Florida?

Company LogoIf you conduct business in multiple countries or states inside the United States, then it is important to ensure that your business is properly registered in each of those jurisdictions.

In many cases, the name of your business may be available in one state, but the case may be that your business name is not available in Florida.

If this is the case, then you have the option of registering your business under a different legal name and then applying for a fictitious name, which will allow you to legally market and present your business under the same name you used in the other state. You should hire an attorney to assist you through this process, as there are requirements, such as publishing requirements, that must be met in order to properly register your fictitious name.

If you name is unique and you have a logo for your business, it is a good idea to apply for a trademark or service mark in order to protect the brand of your business.

The same is true for international companies whose business name is not available in Florida.

If you are interested in conducting business in Florida, whether you have an existing business or not, then contact Boyer Law Firm, P.L. today to see how we can assist you.

 

How Can I be Appointed as a Florida Personal Representative?

Florida Personal RepresentativePersonal representatives are required to hire an attorney in Florida.

A Florida personal representative may be appointed in the deceased’s will. If the deceased passed away without a will, then a beneficiary can petition to become the personal representative of the Estate. The Court will appoint a personal representative for the Estate in either instance.

The personal representative is in charge of the administration of the Estate and as such holds a fiduciary responsibility.

A Florida personal representative is required to hire an attorney to guide them through the process, but there are tasks required in the administration of many probates that the personal representative must perform. These may include the obtainment of a safe deposit box inventory, communication with other beneficiaries and heirs if the situation is amicable, and reviewing and signing documents to be submitted to the Court.

If you recently suffered the loss of a loved one and would like to be appointed as the personal representative of the Estate, then contact Boyer Law Firm, P.L.’s probate attorneys today.

Shark Tank Lesson: Your Business Needs a Business Plan

There are many entrepreneurs who think that the purpose of a business plan is to present to a bank to get a loan. However, a business plan has many other functions, including providing you with important information, calculations, and projections for your business.

Dave Alwin, owner of Echo Valley Meats, Inc., found this out the hard way in front of America on the popular television show Shark Tank.

Alwin was not offered a deal the first time he appeared on Shark Tank, even though the investor sharks loved his product. The first time Alwin was on the show, the sharks were concerned that he did not know the numbers of his business, such as customer acquisition costs, profits, and projections.

“You can’t call your business plan bad, because there isn’t one,” said Kevin O’Leary.

“You make a great product,” said Mark Cuban, “but you’re coming in unprepared.”

He was not offered a deal.

However, Alwin took this opportunity to learn. The first “to do” on his list to fix this problem? A business plan!

In the introduction to his second appearance on Shark Tank, Alwin talks about how he dug into his business to discover the true numbers of the business and had the data sent out to be organized into a business plan. When he walked into the tank for the second time, he knew his numbers and was offered a deal.

If you are interested in starting a business or your business is already in existence, then you need to have a business plan in place.

Here at Boyer Law Firm, we assist domestic and international clients with creating business plans for their business, whether it be for an investor’s visa or simply to plan for the next five years of growing their business.

Watch the full episode:

Florida One of Top States for Low Tax Burden

According to a recent study by WalletHub, Florida is in the top 10 states for the lowest tax burden on “High Income” and “Middle Income” taxpayers.

It is also the only southeastern state in the top 10 states with a low tax burden, other than Alabama, which ranks lower on the results.

Miami Beach panorama

State “Low Income” Rank
(Tax Burden as a % of Income)
“Middle Income” Rank
(Tax Burden as a % of Income)
“High Income” Rank
(Tax Burden as a % of Income)
Alaska 1
(5.40%)
1
(4.50%)
1
(3.43%)
Wyoming 6
(7.68%)
5
(6.65%)
2
(3.98%)
Nevada 4
(7.00%)
3
(6.28%)
3
(4.71%)
Tennessee 16
(9.17%)
6
(7.02%)
4
(4.97%)
South Dakota 28
(9.80%)
7
(7.17%)
5
(5.17%)
New Hampshire 8
(7.99%)
8
(7.43%)
6
(5.36%)
Florida 17
(9.23%)
10
(7.67%)
7
(5.56%)
North Dakota 10
(8.37%)
12
(7.92%)
8
(5.70%)
Alabama 25
(9.61%)
20
(8.82%)
9
(6.03%)
Delaware 2
(5.43%)
2
(5.70%)
10
(6.14%)

 

In addition to the beach and sun, the tax benefits and low tax burden of living in Florida add to the list of reasons to live and do business in the Florida. If you are thinking about moving to Florida or if you are interested in starting a Florida business, then contact Boyer Law Firm, P.L. today.

If you are a foreign individual who already lives or does business in Florida, or if you are thinking about moving to or starting a business in Florida, then you should contact an attorney to assist you with tax planning for yourself, your business, and your estate.

Tax planning may include restructuring your company, creating estate planning documents such as trusts and power of attorneys, and much more.

 

Chart provided by: http://wallethub.com/edu/best-states-to-be-rich-poor-from-a-tax-perspective/11257/