How to Form an LLC in Florida

Whether you’re starting a new business or are already a seasoned professional, it’s important to understand the process of forming an LLC in Florida. Understanding the process can help you avoid legal pitfalls, save money, and ensure that your business remains in compliance.

To form an LLC, you must file Articles of Organization with the Florida Division of Corporations. These documents will declare your LLC’s existence and outline its purpose.

Articles of Organization

Florida LLC Articles of Organization are the documents that form your corporation. They lay out the company’s structure and provide the government with important information about your business to assess its needs.

The articles must include the name of the company, its registered agent, and a mailing address for your business. They also contain other provisions, such as the effective date of the LLC.

Once the articles are filed, your company is officially incorporated and can do business in Florida. However, you should still have an operating agreement to define your company’s ownership and member roles.

You can file your Florida LLC articles online or by mail. Either way, you’ll need to pay the state’s filing fee of $125.

Before filing, it’s a good idea to check the availability of your business name. The Florida Secretary of State has a free name search tool that can help you choose a name that is available and valid in the state.

Annual Report

An LLC in Florida is required to file an annual report. This document allows the Department of State to keep accurate records for every business entity registered in the state.

This report, also called the Franchise Tax Public Information Report (FTPIR), is due each year between January 1st and May 1st. An LLC that fails to file by this deadline will be assessed a $400 late fee.

The yearly report contains important information about your business, including the names and addresses of your members and managers. It also lets the government know when your company changes its address or has new members & managers.

Whether you’re filing online or by hand, the Florida Sunbiz system makes it easy to complete and submit your report. Plus, it’s a fast and efficient way to get updated information on your company in just minutes!

Registered Agent

When setting up an LLC in Florida, one of the first things you’ll need to do is designate a registered agent. This is a person or business that accepts service of process (lawsuit papers or legal documents) on behalf of your LLC.

A good registered agent will have a physical address in Florida where certified mail can be received during regular business hours. They’ll also forward legal documents to your LLC representatives promptly.

They’ll also receive tax notifications and annual report reminders from the state and promptly forward them to you.

If you don’t keep your registered agent updated, your business could lose its legal recognition from the state. In addition, the Secretary of State may administratively dissolve your company.

Taxes

If you’re looking to form a Florida LLC, you’ll need to be aware of the Taxes associated with doing so. These taxes can vary based on the type of business you’re running and the makeup of your LLC’s members.

In general, LLCs are considered pass-through entities, which means that they’re taxed like partnerships or sole proprietorships on their profits. However, in some cases, an LLC can elect to be treated like a corporation for tax purposes.

This choice is made by filing IRS Form 2553 with the IRS, and it requires the company to file a separate tax return. The tax rate is generally a flat 5.5% of the LLC’s federal taxable income, with some exemptions.

Florida has some of the most generous tax policies for businesses, and this is one of the main reasons why LLCs are popular in the state. While there are other factors to consider, the fact that an LLC can be formed with a minimal amount of paperwork and a very affordable cost is certainly reason enough for many entrepreneurs to start one.