A limited liability company (LLC) offers liability protection and tax advantages. It is one of the easiest and least expensive types of business entities to form.
Whether you are a US resident or not, it is important to follow Florida state laws to start your LLC. You will need to register with Sunbiz, the Florida Division of Corporations. It is the state’s official entity registry.
The Articles of Organization
The Articles of Organization are the documents that establish your LLC at a state level. They detail your business’s name, address and purpose. They also contain information about the directors, officers and capitalization.
In Florida, you can file your Articles of Organization online via the state’s website. It typically takes about a week for the state to approve your articles and an additional couple of weeks for it to process your papers by mail.
If the state rejects your online filing, you have an option to fix it and resubmit. You can do this by paying the filing fee and making a correction online.
The Registered Agent
When you start a limited liability company in Florida, you have to make sure that you have the right registered agent on file. This person is responsible for receiving legal notices on behalf of your LLC, including service of process.
You can choose to be your own registered agent or hire a registered agent service to do it for you. Either way, you will need to designate this person’s name and physical address (a P.O. Box is not acceptable) in the state.
The primary job of a registered agent is to accept legal notices on your behalf and forward them to the appropriate person in your business. This includes tax documents from the state and annual reports or statements.
A good registered agent will also help you stay on top of time-sensitive documents that require immediate attention, such as annual report and license renewals. These services can save you from missing important deadlines and saving yourself a lot of stress.
The EIN
An EIN, or Employer Identification Number, is a federally issued nine-digit number that identifies your business. This number is similar to a Social Security number, and it’s used for a variety of purposes.
Obtaining an EIN is one of the first steps to take when starting an LLC in Florida. You’ll need it when filing business taxes, opening bank accounts, and applying for business licenses and permits.
If you’re a resident of Florida, the process can be done online or by mail. The IRS receives applications for EINs at no cost, and processing times are typically four weeks.
You can also apply for an EIN through a service provider like Incfile, which will handle the entire process for $70. The application itself takes less than 10 minutes to complete and submit, making the whole process quick and easy. Plus, you’ll receive a confirmation email after the IRS accepts your application. This service is available to anyone with an Incfile account, so it’s a great way to save time and money on your taxes.
Taxes
Florida offers a number of benefits to businesses based there. Among them is the ability to incorporate an LLC, which provides liability protection, as well as tax treatment and ease of management.
Choosing the right tax structure for your business is crucial, so we recommend you seek the advice of a tax professional. In addition, if you have employees, you may be required to pay state unemployment taxes, and your federal tax return will also depend on how you pay your employees.
Another important aspect of an LLC is its registered agent, which is a person or entity that receives official paperwork and other documents on behalf of the company. The registered agent must have an address in the state and is required to be available during regular work hours to receive and respond to legal notices and process.
You should consider registering your LLC with the state as soon as possible. This is to ensure that you can begin collecting sales tax and paying it on a regular basis.