Before you can start your Florida LLC, you must file formation documents with the state. These documents establish your legal business status and allow you to receive an Employer Identification Number (EIN) and obtain other necessary permits and licenses.
One of the most important documents you need to form your Florida LLC is the Articles of Organization. It is a one-page document that provides information about your LLC to the state.
Articles of Organization
The Articles of Organization are the first legal document that a Florida LLC is required to file with the state. They outline the rights, powers, and obligations of the company.
To form an LLC in Florida, you must file Articles of Organization with the Division of Corporations (DOC). The filing fee is $125 as of June 30, 2017. It may be filed online, by mail or fax.
The Articles of Organization for a Florida LLC should contain the name and address of the business. In addition, you’ll want to include the date of formation and the effective start date. You can choose to have your effective date be the same day as your articles are approved or a date up to 90 days later.
Operating Agreement
The Operating Agreement for a Florida LLC is an important document that details the financial and operational management of a limited liability company. It includes details on how profits and losses are shared, who is responsible for paying taxes, and how decisions are made within the company.
The LLC Operating Agreement should also include specific voting rights for each member of the company. This will vary depending on the type of management structure you decide to use.
The drafting of your Florida LLC Operating Agreement should be done with the assistance of an experienced business attorney to ensure compliance with the law. In addition to ensuring your LLC operates effectively, an operating agreement can help protect the assets of its members in case of creditor claims.
Shareholders’ Agreement
The Shareholders’ Agreement for a Florida LLC is not required by state law, but it’s essential for laying the foundation of your business. It provides a clear definition of the rules that will govern your company, how finances will be handled and how decisions will be made.
It also protects your personal assets and helps to avoid disputes over finances and other issues that may arise. Your local attorney can help you create a written shareholder agreement that is customized to meet your specific business needs.
It should include each member’s ownership stake, voting rights and profit share as well as the management structure of your company. It should also clearly detail how the business will pay taxes and distribute profits between members.
Registered Agent
If you’re forming a limited liability company (LLC) in Florida, your articles of organization must include the name and address of the entity’s registered agent. This is a legal requirement for all business entities and is an important step in establishing credibility and protections as a Florida LLC.
The registered agent is the legal person or business that agrees to accept service of process and other important legal mail on behalf of your LLC. They also serve as the general point of contact for receiving compliance information and tax notices from the state.
It can be a family member, an accountant, or an attorney. But it’s important to consider a few things before selecting a registered agent.