If you are planning to start a business in Monroe County, Florida, there are some important basics you need to know. Here’s a handy resource guide for Monroe County entrepreneurs.
Monroe County Occupational Licenses
If you need an occupational license in Monroe County, you can obtain one at 88800 Overseas Highway in Plantation Key. Call (305) 853-7350 for more information about obtaining a Monroe County occupational license.
Florida Occupational Licenses
In addition to a Monroe County occupational license, you might also be required to obtain an occupational license from the State of Florida or a Certificate of Competency from the State of Florida. This could require that you undergo special training and testing too, depending on the nature of your business.
Monroe County Sales Tax
In addition to the six percent state tax that is required by the State of Florida, Monroe County has a 1.5 percent county sales tax. It also has a 3.5 percent “bed tax” for resorts in Monroe County, motels in Monroe County and hotels in Monroe County. If you need a tax ID number still, you can get an application for a tax ID number from the Florida Department of Revenue at 3118 Flagler Avenue in Key West. You can get more info on this by calling (305) 292-6735.
Workers Compensation For Monroe County Businesses
How do you know if you have to carry worker’s compensation insurance in Florida? Well, if you’re opening a business in Monroe County and you employ three or more people you have to carry worker’s compensation insurance. Keep in mind that corporate officers are considered employees for the purpose of worker’s compensation requirements in Florida. You can speak to someone in person about this if you head on our to Miami. The Florida Department of Commerce Bureau of Worker’s Compensation is located at 401 N.W. 2 Avenue in Miami. You can also call them at (305) 377-5413.
Registering A Monroe County Business With A Fictitious Name
If you use any name other than your own name as the name of your business, you will need to register a fictitious name. This is a requirement under Florida’s Fictitious Name Act. Check with Monroe County Licensing Office at 88800 Overseas Highway in
Plantation Key or call them at (305) 853-7350.
Unemployment Insurance Tax
If you employ one or more employees for 20 weeks or if you paid $1,500 or more in gross wages, you will need to pay the unemployment insurance tax. Keep in mind that a corporate officer is considered an employee. The tax is assessed at the rate of 2.7 percent on the first $7,000 of every employee.
Businesses For Sale In Monroe County
If you know you’d like to own a business in Monroe County, you RE/MAX Keys Connection’s owner and broker Curtis Skomp is one of South Florida’s top commercial real estate brokers and an outstanding resource. His service area includes Key West, Big Pine Key, Marathon, Islamorada, Key Largo, and all of unincorporated Monroe County.
Florida Trend: A Resource For Starting A Business In Monroe County
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