What this guide covers
Company taxation in Florida, how it meshes with the home country of the director or parent, and the filing obligations specific to foreign-owned entities. It is the subject where situations diverge most by nationality.
What exists
Federal corporate income tax
Due by corporations on their profit. Pass-through entities do not pay it: the income flows through to the members, who report it.
State corporate income tax
Florida applies one to corporations, with a standard exemption. Pass-through entities are, with exceptions, out of scope.
Tax treaties
They allocate taxing rights between the two countries and provide relief from double taxation. Each country has its own: France, Belgium, Switzerland, Morocco and Canada did not sign the same text.
Filings specific to foreign-owned companies
Additional forms apply once a foreign shareholder passes an ownership threshold, with high flat penalties for omission, regardless of any tax due.
What surprises people arriving from Europe or Quebec
No state personal income tax is the most cited argument for Florida, and it says nothing about company taxation. A corporation is taxed federally and by the state, and a director remains liable in their country of tax residence under that country’s own rules.
Where it gets complicated
Penalties for missed filings by foreign-owned entities are flat: they apply even when no tax is due, even when the company is loss-making. It is the most common penalty among US subsidiaries of European small and midsize companies.
Official sources
What French Executive Network can do
Introduce you to the French-speaking business lawyers, accountants and tax advisers in the network who handle this subject, and to the members who have already been through it.