How Fast Can I Set Up an LLC in Florida?

Depending on how quickly the state processes your filings, it can take two to five business days to establish your LLC.

In order to be properly registered, an LLC must have a Florida registered agent. This individual or firm serves as the company’s official point of contact for governmental and legal matters.

1. Articles of Organization

The Articles of Organization are the official documents that form a limited liability company in Florida. They specify important details about your business, including its name and principal address.

These documents can be filed online, by mail or in person. They’re also available on the Secretary of State website (registration required).

Having the proper information in these documents is crucial. This includes your LLC’s name and principal business address, names and addresses of all LLC members, registered agent, manager, management structure, intended duration, and more.

You’ll also need to make sure that your company’s name is unique and recognizably different from existing entities in the state. You can check Florida’s business name database to see if your proposed name is available before filing your Articles of Organization.

2. Employer Identification Number (EIN)

If you want to open a company bank account or hire staff, your LLC needs a Federal Employer Identification Number (EIN). EINs are free and can be applied online, by fax, or by mail.

You may also need to use it to register for certain business licenses and permits. It’s like your company’s social security number.

Choose your Registered Agent – A registered agent is the person or company that receives and sends legal documents on behalf of your Florida LLC. You can list yourself, a friend or family member, or hire a commercial registered agent.

Set an Effective Date & Register Your Company Name – Finally, you need to register your LLC with the state. In Florida, you need to register your name with the Florida Division of Corporations, including the full name, address, and registered office.

3. Bank Account

If you want to get your business off the ground in Florida, the first step is opening a bank account. There are a number of banks that offer business checking accounts for small businesses, and most will have Florida branches or a customer service representative who can help you with your application process.

The bank will require a stamped and approved copy of your LLC’s Articles of Organization, your Federal Tax ID number and two valid IDs. Some may also request a minimum deposit to activate your account.

Another benefit of having a bank account is that it helps people manage their spending and saving habits, and it can encourage them to save money for the future. This can be helpful in achieving goals such as buying a car or house.

4. Operating Agreement

Once your Articles of Organization are filed and approved, you can start creating an LLC Operating Agreement. Although not required in Florida, it is highly recommended as an internal document that outlines how the business will be operated among its members (and managers).

The operating agreement should include capital contributions, ownership percentages, management structure and fiduciary duties. It should also address buy-out rights, valuation formulas, transfer restrictions and tax matters.

Once you have the operating agreement in place you can begin obtaining an EIN or employer identification number. This number is used to register your LLC with the IRS and is required for many applications such as business loans, credit cards, and opening a bank account.

5. Membership

An LLC combines the limited liability of a corporation with the flexibility and ease of a partnership or sole proprietorship. However, forming an LLC can be a daunting task, especially for new business owners.

An experienced formation company can assist you in establishing your LLC in Florida. They can help you name the company, file articles of organization, and obtain an EIN.

Choosing the right name is crucial to LLC success. It must be unique, memorable, and not contain words that could confuse it with a government agency.

The Florida Department of State Sunbiz website allows you to file your Articles of Organization online or by mail. Depending on the filing method, it can take about a week to finalize your paperwork.