Staying Compliant as a Florida Business Owner: What You Need to Know

Running a business in Florida is an exciting venture, but staying compliant with state regulations is crucial. Keeping up with filings, deadlines, and legal requirements ensures your business remains in good standing and avoids unnecessary penalties. One of the most important compliance requirements is the Annual Report, which must be filed every year with the state to keep your business active. The deadline is May 1, and missing it results in a $400 late fee for most entities. If it isn’t filed by the final deadline in September, the business could be administratively dissolved, which means you’ll have to go through a reinstatement process that requires additional fees and paperwork.

Another critical filing requirement is the Beneficial Ownership Information (BOI) Report, a federal mandate designed to enhance transparency in business ownership. Most small businesses are required to file this report. Business owners should familiarize themselves with BOI requirements and ensure they meet the deadlines to avoid any compliance issues.