When you’re starting a new business, it’s important to have an idea of what expenses may come your way. For instance, if you want to open an LLC in Florida, there are a few fees that you’ll have to pay.
These include the Articles of Organization, registered agent fee and annual report. You may also have to pay for other state services or business licenses and permits.
The Articles of Organization
The Articles of Organization are the legal documents that establish your LLC as a separate business entity. They detail your business name, address, mailing information, and the names and addresses of your LLC members.
They also list your LLC’s registered agent. This person must have a physical street address in Florida and be available during normal business hours to accept important legal and tax notices for your company.
You may file your LLC’s articles of organization by mail or online via the Florida Secretary of State’s Sunbiz portal. You’ll pay a $125 fee to file.
After filing your Articles of Organization, you will have to complete several other steps to formalize your LLC and ensure that it is in compliance with state law. These steps are necessary to help you keep your LLC in good standing and protect your limited liability.
The Registered Agent Fee
Besides the state filing fee, there are other costs associated with starting and maintaining an LLC in Florida. These include business expenses like building a website, hiring a registered agent, and getting insurance.
One of these expenses is the registered agent fee, which ranges from $50 to $300 per year. This is based on the type of service you choose and how many states you need support in.
A registered agent is required by law to receive legal notices from the state on behalf of a limited liability company. The registered agent can be an individual or a corporation.
The registered agent must have a physical address in the state and be available to accept service of process. A post office box is not acceptable. Moreover, registered agents must be over 18 years old and based in the state of Florida.
The Annual Report
The Annual Report is the most important document that every LLC or corporation needs to file each year. It gives state governing authorities important information about your company, including the names and addresses of directors and managing members.
Many states also use the information in your annual report to determine the amount of franchise tax you owe. It’s important to update your information on an annual basis because the details of your business can change over time.
You have the opportunity to make changes to your company’s name, address and registered agent. You can also add, delete or change the names and addresses of officers, directors, managers, general partners and authorized members.
The filing date for your LLC’s annual report varies from state to state, but is usually determined by either a fixed date according to entity type or a due date based on the anniversary of your company’s formation in that state. In recent years, more states have moved toward this anniversary date as the due date.
The EIN
The EIN is a nine-digit number issued by the IRS that allows your LLC to open business bank accounts. It is also useful for filing taxes and obtaining federal contracts.
If you are a single-member LLC or you don’t want to use your Social Security number, you can apply for an EIN online. This application process takes just a few minutes and is free.
Whether you’re creating an LLC in Florida or you’ve already set up your company, it’s important to get an EIN as soon as possible. This will help you open bank accounts for your business, make it easier to hire employees, and ensure that the government can verify that you are banking on behalf of your business instead of your personal finances.