Delaware vs. Florida
Besides Nevada, Florida is next state competing with Delaware for the most corporate friendly position within the US. Florida is somehow a special state, more known for the pro-technology and pro-business incentives of the state officials. People no longer move in Florida just to enjoy the South sun, but also for the financial privileges offered by the State.
Back to incorporation, Florida has some minor advantages but also some differences that make Delaware a better choice. Of course there are cases when Florida is much better assuming that the persons involved would need those minor advantages.
The corporate ending names for Florida are limited to: Corporation, Incorporated, Company and their abbreviations (Delaware provides over 10 alternatives) and also has a minimum age limit for directors, 18 years.
As in Delaware, officers are not required to be listed within the articles of incorporation. An advantage is that when the incorporation is done, the filling fee is not increased by the value in shares or par value and it is fixed at $80 ($74 for Delaware).
The annual statements bring in another expense: the Uniform Business Report which is $150 (due each Jan 1st). In Delaware the statement fee is just $20. Contrary to the poplar believes, Florida has a franchise tax which is 5.5% over first $5,000 of the net income. Delaware franchise's tax amount is variable, being based on the total number of shares.
The zero startup capital, zero income tax, availability of S Corporations license requirements or shareholders anonymity features are present in both states.
Another very important advantage in the favor of Delaware is its special court system and the "good faith director friendly state".
