If you’re looking to start a business in Florida, then an LLC may be the right option for you. However, before forming your new company, it’s important to understand how long it takes to get approved in the state of Florida.
The time it takes to form an LLC varies depending on the process you choose and the timing of filing your formation documents. The total time can range from two to six weeks, but delays can occur if there’s an issue with your application or some other part of the process.
Articles of Organization
When you set up a business, one of the first steps is to file Articles of Organization. These are the basic documents that create a business entity, and they outline all of the details about your new company.
Depending on your state, the articles may include information about the name of the business, its state and physical address, the registered agent, who LLC members or managers are, and a number of other pieces of vital information.
If your company is formed in Florida, the state will require you to submit a hard copy of the articles of organization by mail or in person to the Division of Corporations. You’ll also need to pay a $125 filing fee.
Once the articles of organization are filed, you’ll need to get your employer identification number (EIN) from the IRS. This is like a Social Security number for your company, and it’s essential for registering with the IRS and opening business bank accounts.
Registered Agent
Using a registered agent service for your Florida LLC is an important way to keep up with the paperwork and legal requirements of forming and maintaining your business. They will be able to handle any mail and notifications that arrive for your company, and can help you stay on top of the due dates and renewals that need to happen each year.
A registered agent can be a person or a company, but they must be available during normal business hours and have a physical address in Florida. This street address is part of the public record and is on file with the state.
An individual may choose to serve as their own registered agent, but it is an additional responsibility that takes up time and attention away from other work. Many entrepreneurs prefer to use a registered agent service instead, as it can be a much more convenient option.
Annual Reports
Every year, LLCs in Florida must file annual reports with the state. These reports are a standardized way for the state to keep accurate records about each business entity that exists in Florida.
The report includes information about your company’s name, address, FEIN (business tax ID number), and registered agent. It also lists any changes to your business’s officers, directors, managers, or owners.
It is important to file the annual report on time to avoid late fees. If you do not, the state may administratively dissolve your company.
You can file your annual report online using Florida’s Sunbiz system. The process is fast and easy, but you’ll need to know your 12 digit document number before you begin. You can find this number by searching for your LLC’s record in the Florida Sunbiz database.
Taxes
Florida is a popular state for forming an LLC, and it is a good choice for those who want to limit their personal liability in the event of a business lawsuit. However, there are some important aspects to keep in mind before registering your company in Florida.
First, you need to name your LLC properly. It is best to choose a short, unique name that will help your company stand out from the competition and make customers remember it.
Next, you need to register your LLC with the Department of Revenue for sales tax purposes. This is required for any company that sells goods or services in the state of Florida.
Additionally, you need to pay Florida employment taxes on any new employees that you hire or rehire. These taxes are based on how much you pay your employees per year.