The Florida Division of Corporations sets the rules and requirements to form an LLC. The state requires that your LLC name be distinguishable from other names on file with the division. You must also choose how the LLC will be taxed. The default option is to be a pass-through entity, meaning the company’s earnings and losses are reported on individual tax returns.
Articles of organization
The articles of organization are the documents that officially establish your LLC. They contain basic information about the company, including its purpose and owners. You may file your articles online or by mail. It takes about a week for the state to process articles filed online, and two weeks for articles mailed in. Once the state approves your articles, you will receive an email from Sunbiz with a link to download the approved filing.
You will also need to obtain an Employer Identification Number (EIN). An EIN is like a Social Security Number for your business. It is used to open bank accounts and file taxes. You can get an EIN online or by using a service that will handle the entire process for you. You should also draft an operating agreement, which will outline the manager and member roles and the ownership structure of your LLC. This is not required by law, but it will help you avoid conflicts and lawsuits in the future.
The operating agreement is required for all Florida LLCs and is a legal document that regulates the internal affairs of your company. It also helps prevent misunderstandings between owners and sets out each member’s ownership stake, voting rights, and profit share. You can create an operating agreement with free tools offered by BetterLegal, which offers a Florida LLC operating agreement template and other business documents.
In addition, if you plan on hiring employees, you need to register your business for workers’ compensation insurance and file an I-9 form for each new employee. You should also decide if your business will be taxed as a pass-through entity or as an S-corporation.
You should also choose a registered agent for your Florida LLC, which is a person or company in the state where you’re doing business. You can use a service like Northwest Registered Agent or find one yourself. You’ll also need to pay state fees. Once your articles of organization are approved, you can apply for an Employer Identification Number (EIN) with the IRS. This nine-digit number is similar to a Social Security number for your LLC and will be used for tax purposes.
Employer identification number
A federal tax ID number, also known as an employer identification number, is needed to start an LLC in Florida. This nine-digit number acts like a business’s social security number and is used for tax purposes, annual reports to the state and workers’ compensation insurance coverage. You can obtain an EIN by submitting a form online or by mail.
The articles of organization are the key document that registers your business as an LLC in Florida. They must include the company name, address of the registered agent (which must be a physical address and cannot be a PO Box), names and addresses of members or managers, and an effective date.
You must also choose how your LLC will be taxed. Generally, LLCs file as pass-through entities, but you can also choose to be a C-corporation or S-corporation. If your LLC hires employees, you must register for workers’ compensation insurance and pay additional state taxes. You may also need to register for a business license, depending on the type of business you conduct.
Before you begin operating your Florida LLC, you need to obtain a business license. This will allow you to open a business bank account and keep your personal assets separate from the assets of your company. You can get the necessary information by visiting the Florida Department of State’s website. You will need to provide your contact information, name and address of the registered agent, the function of the company, and its management structure.
You will also need to list your preferred business name and the effective date of the articles of organization. The effective date must be at least 90 days after the filing date. You may also choose a date that is one year after the year of formation.
You must appoint an agent for service of process who will be available during normal business hours. The agent can be an individual or a company that provides registered agent services. The agent must have a physical address in Florida, and it cannot be a PO box.