If you’re considering forming an LLC in Florida, it’s important to know what it costs. Starting a business isn’t a walk in the park, and fees can add up quickly.
One of the biggest expenses for any new business is registering the proper licenses and permits. In Florida, there are many licenses and permits that you’ll need to obtain before conducting business.
Articles of Organization
The articles of organization are one of the most important documents you need to file in order to establish a limited liability company (LLC). They outline what your LLC is, who its managers and members are, and how it will be managed.
They are also required by law, so they should be reviewed and prepared carefully. Filing errors can lead to problems down the road that could be costly to fix.
Whether you are a new business owner or a long-time entrepreneur, it’s a good idea to get help with your LLC articles of organization. An experienced lawyer can ensure that you have filed all of the paperwork necessary for your business.
Registered Agent Fee
The cost to register your Florida LLC depends on several factors, including the type of business structure you choose, how many members it will have, and whether you plan to hire an attorney. While you aren’t required to hire an attorney, it is a good idea for some businesses, particularly those that have complex ownership or management structures, investors, or require industry-specific documentation.
The first step to registering your Florida LLC is to file Articles of Organization with the state. This document lists your company’s name, address (if different), and other information.
Once you’ve filed, the registered agent you assign to accept legal mail for your Florida LLC will be available to receive all correspondence from the state on behalf of your company. They will also be your point of contact for receiving annual reports, tax notices, payment reminders, and other important compliance documents.
Fictitious Name Fee
In Florida, business owners who don’t want to use their official legal name must register a fictitious name (or DBA). This process requires a $50 filing fee and is valid for five years.
Besides protecting consumers from fraudulent businesses, DBA registration is also important for keeping a company’s legal name from being used as an alias by others.
The Florida Division of Corporations lets people file DBA names online using the Online Fictitious Name Registration system. You can choose from a list of available DBAs or create your own. Once you have your choice, you can order a certified copy of the DBA to use as proof of registration and for opening bank accounts.
Reserved Name Fee
When forming a Florida LLC, you’ll pay a name reservation fee to ensure the name you want is available. This will protect your chosen name until you file formation documents with the state and will be valid for 120 days.
The first step is to perform a name search to make sure the name you desire isn’t already in use by another entity or a government agency. You can do this by searching through the business entity database of the state of Florida.
After settling on a name, you’ll need to set up the structure of your LLC. It’s important to do this properly, so you can avoid future problems down the line. To save time, many business owners choose to form an LLC online using a service that can take care of all the key steps. This saves them time and money in the long run.
Annual Report Fee
All LLCs and corporations in Florida must file an annual report before May 1 of each year. Filing your report is an important part of maintaining good standing with the state and avoiding penalties.
The Florida Division of Corporations uses this information to make sure your business is in compliance and to help you track any applicable state taxes. You must include the principals’ names and addresses, along with their authorized representatives’ or managers’ addresses.
You must also include your company’s FEIN number, which is similar to a federal employer identification number. You must also list the registered agent and any changes to the registered agent’s name, physical address, and electronic signature.
You can pay the annual report fee online or by mail. Regardless of payment method, the annual report must be filed by May 1.