Select a Name for Your LLC in Step 1 In order to create an LLC in Florida, you must first select a distinctive company name that complies with state regulations. Your Limited Liability Company’s name must contain the words “Limited Liability Company” or the abbreviation “LLC” and cannot be the same as or confusingly similar to the name of another company that is currently registered with the Florida Department of State Division of Corporations.
Step 2: Submit Articles of Incorporation You must submit Articles of Organization to the Florida Department of State Division of Corporations in order to formally establish your LLC there. The name and address of your LLC, the name and address of your registered agent, and the names and addresses of all members must all be listed in the Articles of Organization. The Articles of Organization must be filed for $100.
Step 3: Write an Operating Agreement
Florida law does not require operating agreements for LLCs, although it is strongly advised. The ownership and management structure of your LLC, as well as the duties and rights of each member, are described in an operating agreement, a legal document. It can aid in avoiding disagreements among participants and offer precise instructions for decision-making.
Step 4: Register for taxes and get an EIN You must request an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) after establishing your LLC. An EIN is a distinct nine-digit number that serves as your company’s tax identification number. Additionally, you must file a registration form for your LLC with the Florida Department of Revenue and acquire all applicable federal, state, and municipal company licenses and permits. How Long Does It Take in Florida to Form an LLC? Depending on the form of filing and if the filing is complete and proper, the processing time for LLC filings in Florida varies. Expedited processing is offered for a cost, and online submissions are often handled more quickly than paper filings. A typical Florida LLC filing takes 5 to 10 business days to be processed. How Do I Create a Florida Single-Member LLC? In Florida, setting up a single-member LLC is quite similar to setting up a multi-member LLC. The main distinction is that a multi-member LLC has two or more owners, whereas a single-member LLC has just one owner. The same procedures as those stated above must be followed to create a single-member LLC in Florida. Do LLCs Have to Pay Taxes in Florida? Florida does not impose entity-level taxes on LLCs. Instead, the LLC’s profits and losses are distributed to its individual members, who then report them on their individual tax returns. The “annual report fee,” which is based on the LLC’s income, is a state-level annual cost that applies to LLCs in Florida. In Florida, does an LLC require a business license? Florida law exempts LLCs from needing a general business license. But some occupations, including accountancy, architecture, and real estate, could call for particular certificates or licenses. Additionally, a municipal business license or permit can be necessary in several Florida cities and counties. It’s crucial to research the particular criteria for your field and area.