I recently broke ties with my beekeeping mentor and want to make a go of it on my own. I already aware of the registration requirements with the FL Department of Agriculture but I am unsure of which type of business formation is best for me. My estimated annual gross sales should be less than $10K. I will not have any employees. The business will not own any property. I plan on using property that requires a general liability insurance policy in place prior to land use.
Look into setting up a corporation or a "limited liability company" (LLC) through the Florida Department of State as either are a good way to limit your personal liability in the venture. Each has benefits but you shoudl talk to a lawyer and an accountant as to which is best for your situation. Smaller ventures tend to use the LLC but it depends on your circumstances.
2 lawyers agree
The costs and efforts to set up an LLC are relatively minor and provide a level of protection to your personal assets that a sole proprietorship does not. New small businesses should think forward and anticipate growth and its complications. Plan for success.
This response is not legal advise.
4 lawyers agree
It would be a good idea to consult with a business attorney in your area to discuss your business plan, formation, and execution. Usually, a sole owner, will choose to form a LLC for the numerous benefits including: ease of formation, limited liability, tax benefits, and others. Search for a business attorney in your area using Avvo to assit you with starting your business.
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Contracts / Agreements Lawyer
Your situation is very common, and a perfect of example of how "an ounce of protection can be worth a pound of cure." I would never suggest that anyone ever enter into a business endeavor individually (e.g. without using legal business entity such as a corporation or an LLC). There is simply no good reason to expose yourself to personal liability when it is so cheap and easy to avail yourself of a separate business entity. Any business attorney can assist you with this if you are not comfortable doing it yourself. Best of luck with your new venture!
Any answer(s), and/or comment(s) provided are not legal advice, should not be relied on in lieu of consulting with an attorney, nor are they intended to create an attorney-client relationship. Those readers and / or posters who believe that they may have legal claim(s) should seek the advice of an attorney who is licensed to practice in the relevant jurisdiction.