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Florida Business Law Questions & Answers
1 Answer | Asked in Agricultural Law and Business Law for Florida on
Q: What is FL law on refunds for nonprofit events?

A FL nonprofit org hosted a music festival April 2023. It was cancelled due to inclement weather, with promise of refund. There has been avoidant and lack of communication on the process. In June 2023 they said they are waiting on their insurance claims to process to disburse refunds, but in... View More

Tim Akpinar
Tim Akpinar
answered on Feb 10, 2024

A Florida attorney could advise best, but your question remains open for two weeks. Until you are able to consult with a Florida attorney regarding any applicable state laws for non-profits, I'd guess that your situation is basically a straightforward contract matter. If the provisions of the... View More

1 Answer | Asked in Banking and Business Law for Florida on
Q: Are there any specific laws in Florida regarding a bank needing access to the full trust when applying for a loan?

I have applied for a business line of credit with Truist Bank. I applied for a line of credit and put a property up as collateral. They are asking for a full copy of the trust. What can I do?

James L. Arrasmith
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answered on Feb 5, 2024

Here are a few key things to know about banks asking for trust documents when applying for a loan in Florida:

- Banks typically have a right to request details of a trust when that trust owns the asset being used as collateral on a loan. However, they generally cannot require the full trust...
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1 Answer | Asked in Business Formation, Business Law and Employment Law for Florida on
Q: Is a person who has their own business, working as a 1099 independent subject to a non- competition contract?

I have an LLC, EIN, business license and taxi. All of which I had while working with yellow cab of Sarasota. I payed them a portion of my wages for Dispatch services. Soon after I began working with yellow cab, I was made to sign a very basic non- competition paper. All along i was a 1099... View More

Shayla N. Waldon
Shayla N. Waldon
answered on Jan 29, 2024

There are many variables here, starting with who signed the non-compete agreement, i.e., whether it was done in an individual capacity or whether it was signed on behalf of your company. A contractor in Florida likely could have a non-compete enforced against him/her, provided that the hiring... View More

2 Answers | Asked in Tax Law, Business Formation and Business Law for Florida on
Q: I have a florida partnership llc for Etsy which makes 2-3k a year. I never drew a salary. Do I need to pay any taxes?

The money is saved in llc checking account and never used unless it’s for business expense like buying materials. Both me and my husband don’t draw salary. Do we still need to file any tax forms or pay taxes on it?

William T. Harmon
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answered on Jan 14, 2024

If the partnership has reported income( falls within the Income definition within IRC), it should be reported on the annual 1065 partnership return. Based on the partnership income/expense allocation agreement, that amount will be reported on an individual K1, which will then be reported on your... View More

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2 Answers | Asked in Tax Law, Business Formation and Business Law for Florida on
Q: I have a florida partnership llc for Etsy which makes 2-3k a year. I never drew a salary. Do I need to pay any taxes?

The money is saved in llc checking account and never used unless it’s for business expense like buying materials. Both me and my husband don’t draw salary. Do we still need to file any tax forms or pay taxes on it?

James L. Arrasmith
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answered on Jan 15, 2024

Yes, even though you don't draw a salary from your Florida partnership LLC for your Etsy business, you still need to file taxes for the business income and expenses.

As a partnership, the LLC itself does not pay taxes. Instead, the LLC's profits and losses "pass through"...
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1 Answer | Asked in Business Formation and Business Law for Florida on
Q: Can a registered agent for a LLC in Florida have someone else receive documents addressed to the LLC?

If a process serving delivery is attempted at a moment that the registered agent is not at the FL LLC's registered office, can someone else that is not their employee, such as a family member, friend or housemate receive the delivery on their behalf?

Is a signature required for... View More

Terrence H Thorgaard
Terrence H Thorgaard
answered on Dec 26, 2023

Yes, service can be made by serving an employee of the registered agent, at the registered office. Also, the registered agent is required to have at least one person (such as in your words "a family member, friend or housemate") at the registered office, as the registered agent's... View More

1 Answer | Asked in Business Law and Real Estate Law for Florida on
Q: In Florida is the board required to file a police report if they don't receive all the records from the previous board?

We voted in a new board with special session. The new board fired the bookkeeper and hired a new accounting firm. The old bookkeeper doesn't have all the records either he won't turn them over or he doesn't have them is the new board required to file a police report about this

James L. Arrasmith
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answered on Dec 20, 2023

In Florida, the requirements for a board, particularly in the context of a homeowners' association or similar entity, regarding the handling of records and potential legal issues can vary based on the specific circumstances and the governing documents of the organization.

If a new...
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1 Answer | Asked in Business Formation and Business Law for Florida on
Q: I am looking to start a 501(c)(3) for cat rescue. is it similar to a llc where you are protected from lawsuits finaciall

I am looking to start a 501(c)(3) for cat rescue. is it similar to a llc where you are protected from lawsuits financially. for example if a feral colony cat bites someone or if when you are showing a foster cat to a possible new owner and they get bit. if not can a non profit llc own the... View More

Terrence H Thorgaard
Terrence H Thorgaard
answered on Nov 27, 2023

Entities that are tax exempt pursuant to section 501(c)(3) include limited liability companies (LLCs), as well as non-profit corporations. Both afford limited liability, and are formed under state laws, while 501(c)(3) is federal tax law. The entity you form should have liability insurance, to... View More

1 Answer | Asked in Tax Law and Business Law for Florida on
Q: Please see details for question

I have removed the S election from a Delaware corporation in 2023.

At the end of 2022, there is about $500,000 of retained earnings.

I would like to distribute those funds in two separate loans, done sequentially, of $250,000 each.

The transactions would be completed... View More

James L. Arrasmith
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answered on Nov 19, 2023

In considering distributing retained earnings as loans from your Delaware corporation, it's essential to be aware of the IRS rules and potential pitfalls. The IRS allows corporations to issue loans to shareholders, but these loans must be structured and documented properly to avoid being... View More

1 Answer | Asked in Business Formation, Business Law, Tax Law and Immigration Law for Florida on
Q: As an F2 with an LLC which tax form should i select for the business c-corp or s-corp

Ok so I'm currently on an F2 visa (dependent visa in the US) I opened my business which is an LLC but as im applying for a tax application in florida for the business i'm not sure whether to file it for a S-Corp or a C-Corp. Due to the fact that technically I'm not allowed to work in the US.

James L. Arrasmith
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answered on Nov 13, 2023

Selecting between a C-Corp and an S-Corp tax status for your LLC is a significant decision, especially considering your F2 visa status.

Generally, F2 visa holders are not permitted to engage in employment in the U.S., and this includes active management of a business. While owning a...
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1 Answer | Asked in Business Law and Gov & Administrative Law for Florida on
Q: What permits or licenses do I need in the state or Florida to sell candy under my own brand state to state online ?
Joseph Raymond Schwantes
Joseph Raymond Schwantes
answered on Nov 3, 2023

Depending on the exact details of your business plan, you may need a Food Permit from the state Department of Agriculture, plus other basic permits and licenses for the establishment of a business such as a city and county business tax receipt. You may also want consider what type of business... View More

1 Answer | Asked in Business Formation and Business Law for Florida on
Q: Do I need to register my small business as a sole proprietorship if it has my legal first name in the name?

My name is Janina G., my small business name is ‘janinasdiycrafts’. I currently sell handmade goods as a hobby, I haven’t made enough money to register it as a business. (Still in the hobby tax bracket) my questions is do I need to register it as a sole proprietorship in Florida since it’s... View More

Keith Kanouse
Keith Kanouse
answered on Oct 17, 2023

There is no registration with the Florida Secretary of State's Office for a sole proprietorship. However, since you are doing business other than your own name you need to comply with Florida's Fictious Name Statute.

In Florida, Section 865.09 of the Florida Statutes requires the...
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1 Answer | Asked in Consumer Law and Business Law for Florida on
Q: I’m having an issue with MoneyGram.

Hello

I transferred $1016 from the US to my fiancé in Ukraine on October 6th.

The transfer usually takes between few minutes to few hours to be completed.

However, this time, the transfer hasn’t reached the receiver till this day.

I called MoneyGram on the day of... View More

Jane Kim
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answered on Oct 14, 2023

Sorry to hear that. I believe the way MoneyGram works is local location in Ukraine has to have US cash on hand and they portably don't or the local place stole it. They must've tracked the transfer by now, and still no money. Try to stay on top of it and get a refund here. If not, your... View More

1 Answer | Asked in Consumer Law and Business Law for Florida on
Q: Under Title 33 chapter 501.021 is placing door hangers considered soliciting?

The door hangers in question only advertise a free inspection and not any of the paid services that I offer.

Sometimes I find doors with "no soliciting" signs on them and I want to make sure that I'm not doing anything illegal by placing a door hanger on said door.

Tim Akpinar
Tim Akpinar
answered on Oct 12, 2023

A Florida attorney could advise best, but your question remains open for a week. Until you're able to consult with a local attorney, it's best to avoid leaving anything at such residences or businesses. The sign usually means they want nothing in the form of materials, whatever the... View More

1 Answer | Asked in Business Law and Gov & Administrative Law for Florida on
Q: Could I open a talent agency in Florida with no licence to represent myself, my son and a friend?
Phillip William Gunthert
Phillip William Gunthert
answered on Oct 10, 2023

You can find your answer in the Florida Statutes as listed below. You can do it for yourself and son, it does not appear that you can represent the friend until you get properly licensed.

468.403 License requirements.—

(1) A person may not own, operate, solicit business, or...
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1 Answer | Asked in Contracts, Animal / Dog Law and Business Law for Florida on
Q: Just curious if a waiver I was pressured to sign is legally bounding or mean anything. Thanks

Just curious if a waiver I was pressured to sign is legally bounding or mean anything. Thanks

Charles M.  Baron
Charles M. Baron
answered on Sep 27, 2023

You signed a waiver AFTER they injured your dog?? A waiver that explicitly provides that you cannot make a claim against them for injuring your dog??? If it's really that kind of waiver, it may be enforceable in a court of law, with you letting them off scot-free - but you must show it to a... View More

2 Answers | Asked in Business Law, Intellectual Property and Trademark for Florida on
Q: I want to reinstall my trade mark.My business name is Mineral Evolution LLC serial number 79025687

I had to let it go because of no funds to prolong the registration.

James L. Arrasmith
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answered on Sep 28, 2023

To reinstate your trademark registration for Mineral Evolution LLC, you should contact the United States Patent and Trademark Office (USPTO) or consult with a trademark attorney who can guide you through the process of reinstating and renewing your trademark registration. Be prepared to provide the... View More

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2 Answers | Asked in Business Law, Intellectual Property and Trademark for Florida on
Q: I want to reinstall my trade mark.My business name is Mineral Evolution LLC serial number 79025687

I had to let it go because of no funds to prolong the registration.

Phillip William Gunthert
Phillip William Gunthert
answered on Sep 25, 2023

You should speak with a Florida Attorney if this is in the State of Florida, if you are a do it yourself type person, you can go to Sunbiz.org, Florida Department of State website and see what needs to be done. Depending on how long it has been inactive, you may or may not be able to get it. No... View More

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2 Answers | Asked in Bankruptcy and Business Law for Florida on
Q: If you have a business and refinanced a vehicle loan for your business using your mortgage, can you file bankruptcy?

We used our mortgage to help refinance our business vehicle. We may need to file bankruptcy for the business. Will it hurt our mortgage loan?

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Sep 13, 2023

The answer mostly depends upon the type of *legal*entity that you've put the business into. A corporation, LLC, etc., is eligible to file a bankruptcy itself, as is a partnership. A sole proprietorship, however, is not a separate legal entity, and a bankruptcy of it will necessarily bring... View More

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2 Answers | Asked in Bankruptcy and Business Law for Florida on
Q: If you have a business and refinanced a vehicle loan for your business using your mortgage, can you file bankruptcy?

We used our mortgage to help refinance our business vehicle. We may need to file bankruptcy for the business. Will it hurt our mortgage loan?

James L. Arrasmith
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answered on Sep 14, 2023

Filing bankruptcy for your business should not directly impact your mortgage loan, as they are typically separate legal entities. However, it's essential to consult with a bankruptcy attorney to evaluate your specific situation and consider any potential implications on your personal assets,... View More

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