The formation of an LLC in Florida can be a complicated process, so it’s important to do your research before you begin. A Florida attorney can help you navigate these complexities and ensure your business is compliant before it starts operating.
The first step is selecting a name for your LLC. Be sure to select a name that’s available in Florida and isn’t already being used by another company.
Articles of Organization
If you’re a new limited liability company (LLC) in Florida, the first thing that you need to do is file Articles of Organization. This is an essential document that outlines all the rights, duties, powers, and obligations of LLC members.
It also identifies the registered agent of the company and their address. It can be filed in person, by mail, or online.
The articles of organization are required by law to be submitted to the secretary of state in order to form an LLC. They also must include a statement that the LLC will abide by all relevant state laws.
The process of filing articles of organization in Florida is fast and simple. You can file them online, by mail, or in person at the office of the Florida Secretary of State.
Certificate of Formation
The Certificate of Formation is a document that formally establishes your Florida LLC. It outlines your business name and purpose.
In addition, it reveals the names of your managing members and their addresses. This can be helpful when filing your first annual report.
It also shows your registered agent’s address and where your company records are kept. You can use this address to send legal documents or official notices to your LLC.
A registered agent can help keep your business up-to-date with all of the latest legal developments and changes. They’ll also answer any questions you may have about your business.
The process for forming an LLC in Florida is simple and quick. There are a few steps you’ll need to take, but the entire process only takes about two weeks or less once your articles of organization are filed.
Operating Agreement
An operating agreement is an internal document that outlines the ownership structure and management procedures of a limited liability company. While not required by state law, it can help protect members’ personal assets in a lawsuit and help create a legitimate perception for investors or partners.
The operating agreement should include details about each member’s LLC ownership percentage and their economic interests. This is important for income taxes and knowing each member’s contribution to the company.
A Florida LLC operating agreement should also list the management structure – member-managed or manager-managed. It should also provide duties and authority for each manager and member.
An operating agreement is not filed with the state, but it must be kept where company records are stored. It is recommended that a copy be given to all LLC owners.
EIN
Before your Florida LLC can do business, you must get an EIN. This is a nine-digit number issued by the IRS that you can use to identify your business. It is similar to your social security number and can be used for business taxes, licenses, and bank accounts.
The EIN is important if your business has more than one member or employee and you will need to file tax returns with the IRS. It may also be used to open a bank account or make purchases with a company card.
You can obtain an EIN from the IRS on your own, or you can hire a third party to do it for you. However, you must give them authorization to do so by completing Form SS-4 and signing it.
A business can need a new EIN if its structure or ownership changes. This includes changing from a sole proprietor to a corporation or vice versa. It can also be a good idea to get an EIN when you’re thinking of starting up a second location or forming a brand-new business.