Florida LLC registration is a crucial first step for new business owners. This simple process involves submitting Articles of Organization to the state and obtaining an Employer Identification Number (EIN), which is like a Social Security number for your business.
You’ll also need to choose a Registered Agent for your LLC. This person or company will receive legal and government notices for your business.
Articles of Organization
If you’re starting a Florida LLC, you’ll need to file articles of organization. These are documents that lay out the basic information about your company, including its purpose and members or managers.
They also include the name and address of your registered agent, a person who can receive legal documents (including lawsuits) on behalf of your business. This is a crucial step because it establishes that your LLC is a separate entity—meaning that if the business gets sued, the plaintiff can’t come after the owners’ personal assets.
While you can draft the articles of organization yourself, it’s often faster and easier to hire a professional service that handles all the state paperwork for you. This way, you can focus on your business, and you’ll have the peace of mind knowing that your documents are being filed correctly. It’s also important to note that the articles of organization do not establish your LLC’s operating agreement—that comes later.
Bylaws
A Florida LLC must have an internal document describing how the company will be run. This is known as the bylaws and helps set important procedures for resolving disagreements or addressing disputes among Members. It also explains the way an LLC will be managed and how its profits will be distributed.
The bylaws must include the name of the LLC, its registered agent, and the address of its place of business. It must also list the people who will manage it and how they will be chosen. Florida law allows an LLC to have one or more managers who are not its Members.
Finally, the bylaws must indicate whether ownership can be transferred and whether the consent of other members is required. This is a crucial aspect of an LLC, especially if you intend to sell it in the future or transfer its assets into another type of entity like a land trust.
Registered Agent
A registered agent is a person or business entity that agrees to accept legal papers on behalf of an LLC in the event it is sued. Florida requires all businesses to have a registered agent and it is a violation of state law to operate an LLC without one.
The registered agent must have a physical street address in Florida and be available during normal business hours. They are responsible for forwarding legal papers and official mail to the LLC representatives. They can be a domestic or foreign (licensed to do business in Florida) natural person or an artificial legal entity such as an LLC, corporation or LP.
You can serve as your own registered agent or appoint someone else to do so, but it is typically more cost-effective to use a professional service. They can help you prepare your Articles of Organization and file them with the state, as well as provide a premium Florida registered agent that is on hand during regular business hours.
Shareholders
Florida law does not require LLCs to have an internal operating agreement. However, one can be helpful for any LLC with creditor issues or that wants to take advantage of customized asset protection provisions. An attorney-drafted agreement will be the most expensive option, but it can save members time and money in the long run by resolving many of their disputes up front instead of in court.
A completed form must include the LLC name and principal place of business, the registered agent’s name and Florida street address (P.O. boxes are not acceptable), the names and addresses of the LLC members and its manager, if applicable. The form must also state the purpose of the LLC, and the authorized representative must sign it.
LLCs with employees or multiple owners, and those that elect to be taxed as corporations, must obtain an employer identification number (EIN). This is required when filing federal taxes and opening a bank account or applying for a business loan.