When incorporating a business, does it matter what’s put for the principle business activity?

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When incorporating a business, does it matter what’s put for the principle business activity?

For example, if you have an online business but it will be directly involving construction equipment, if you select construction but then later want to sale food products, will this be a problem?

Asked on May 31, 2015 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

No, it's not a problem. While there are some purposes to which the business you state it will do when incorporating matters--mostly for purposes of the state deciding if you need any special regulations (such as if the stated business involves potentially toxic chemicals)--the law does not restrict a corporation or LLC to its stated buiness endeavors; they can do any legal business.


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