If you’re planning on starting a business in Florida, an LLC is one of the best options. It’s simple to set up and offers a number of benefits, including tax flexibility and legal protection for owners.
However, the process of setting up an LLC can take some time. How long it takes to get approved varies by state.
1. File Articles of Organization
An LLC is a fairly new business structure that combines the best aspects of two older structures, like corporations and sole proprietorships. An LLC is a great choice for owners who want tax benefits and liability protection.
The process of setting up your LLC in Florida starts with filing Articles of Organization. These documents lay out the structure of your LLC and provide the government with information about how it will operate.
You must include the company’s name, address, and effective date (if you’re forming a corporation), and an authorized representative must sign the document. You’ll also need to list a registered agent who can accept legal papers on your behalf.
You can file your LLC articles by mail or online. The filing fee is $125, and the process can take anywhere from two to 14 days, depending on the state.
2. Pay the filing fee
You can quickly set up your LLC in Florida with just a few clicks. But before you can officially register your business, you must pay the state filing fee.
To make things easier, a registered agent service offers an online filing platform that allows you to complete the required documents and pay your state fees in a matter of minutes.
You can also hire a lawyer to prepare the LLC formation documents and draft an operating agreement. This will help your new LLC lay the groundwork for its future growth.
3. File a Certificate of Registration
Florida LLCs are a popular business structure for many reasons. They offer tax flexibility, legal protection and a number of other benefits.
The most important step in forming an LLC is to file your Articles of Organization. This is the document that establishes your authority to operate as an LLC in Florida and sets out your specific company’s details.
You can file your Articles of Organization online with the Division of Corporations, or you can mail them in if you prefer. Depending on how you choose to file, the process can take 1 to 7 days.
4. File an Annual Report
When filing the necessary documents to set up your Florida LLC, it is important to comply with all state requirements. Failing to do so could result in your business’s application being rejected by the Florida Secretary of State.
Once you have the documents in hand, the next step is to file your Annual Report. This is a mandatory filing that can be done online or via mail.
You will also need to establish a Registered Agent for your Florida LLC. This person or company will receive legal documents like service of process and tax notices on behalf of your Florida LLC.
Once you have your Florida LLC in place, you will need to keep it in good standing by filing annual reports. Failure to do so will cause the Division of Corporations to administratively dissolve your LLC, which can have serious consequences for your business.
5. Establish a Registered Agent
Whether you filed online or offline, you should get confirmation of your LLC being accepted within a few days after you complete your application. This confirmation is your proof that you are ready to go and can begin using your new business entity.
One of the first things that you need to do as an LLC is to establish a registered agent. In Florida, a registered agent is a person or business that receives legal documents and notifications from the state on behalf of a company.
When choosing a registered agent, make sure they’re reliable and always available during normal business hours. Otherwise, you could miss important notifications that come in the mail. And they should be able to accept service of process, which is when a lawsuit is served on your company.