What is the florida LLC annual fee [With Pictures]

Last updated : Aug 25, 2022
Written by : Delmer Kojima
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What is the florida LLC annual fee

Is there an annual fee for an LLC in Florida?

Florida LLC Annual Costs After formation, there are two annual costs to maintain a Florida LLC: an annual report fee and a registered agent payment. The annual report fee for a Florida LLC is $138.75 (Florida corporations are $150) due annually between January 1st and May 1st.

Do I need to renew my LLC Every year in Florida?

The State of Florida requires you to file an annual report for your LLC. File your annual report online at the Sunbiz website. To complete the report you mainly just need to confirm preexisting information regarding addresses, your registered agent, and the people authorized to manage your LLC.

How often do you have to renew your LLC in Florida?

Due Date: Florida LLC annual reports are due by May 1 every year. Late Filings: Any annual report received after May 1 will result in a $400 late fee. Failure to file an annual report before the third Friday of September will result in the dissolution of your Florida LLC.

What happens if I don't pay my LLC fee Florida?

This includes the fee required to file your LLC's annual report. This report must be filed with the Florida Department of State for an LLC to maintain an active status. Without paying the fee and filing the necessary forms, the LLC would be fined $400 and/or dissolved, depending on how late it is paid.

Does an LLC expire in Florida?

Florida LLC Renewal is a process that businesses registered as Limited Liability Corporations (LLCs) must undergo each year to remain in good standing with the State of Florida.

Does a Florida LLC file a tax return?

LLC in Florida is not required to file a tax return. Its income passes through to its members, who subsequently pay individual income taxes on their shares. For this reason, there are no tax return filing requirements for LLCs in Florida.

What is required to maintain an LLC in Florida?

In order to maintain your active status with Florida as an LLC, you must e-file an annual report with the Division of Corporations. The filing fee for each report is around $130 and is due between January 1 and May 1 every year to avoid late penalties.

What are the annual requirements of an LLC in Florida?

To keep your Florida LLC in good standing, each year by 11:59 p.m. (Eastern Standard Time) on May 1, you must file an annual report and pay the yearly fee of $138.75 (according to the 2022 fee schedule). This annual report is required even if the LLC's information remains the same as the previous year's.

What happens if you don't file annual report?

Also, if you do not file the Annual Report in a timely manner, the Secretary of State can administratively dissolve your company. If your company is administratively dissolved, your company is no longer in good standing with the State, though it may still be sued.

Who Must File a Florida annual report?

Every Florida business owner has to file the Florida Annual Report. You can lose your business license if you don't. And if you complete it late, you'll have to pay a $400 penalty.

Do you need a EIN to file annual report in Florida?

We recommend filing your annual report online at the Florida Division of Corporations' website, which will require the following: Business Entity Number - assigned to you by the Florida Division of Corporations. Employer Identification Number (EIN) - issued to you by the IRS.

What taxes does an LLC pay in Florida?

Florida is a tax-friendly state that does not impose an income tax on individuals, and has a 6% sales tax. Corporations that do business in Florida are subject to a 5.5% income tax. However, LLCs, sole proprietorships and S corporations are, however, exempt from paying state income tax.

Is Florida a good state to form an LLC?

Yes, Florida is a good state to establish your LLC in. Some of the benefits include: Protection of your personal assets. Pass-through taxation.

Does a single member LLC need financial statements?

Unlike corporations and partnerships (including LLCs treated as corporations or partnerships), a single-member LLC which is a disregarded entity for tax purposes is not required to include a balance sheet in its tax returns.

What happens if you don't file an annual report Florida?

Fact 6: Not Filing Your Annual Report Has Consequences The state of Florida gives you until the third Friday of September to file your Annual Report. If you don't, the state will dissolve or revoke your business entity, and then you have to apply to reinstate the entity.

Can I use an inactive LLC name in Florida?

Yes. You can use an inactive business name in Florida. In the state of Florida, names with an “INACTIVE” or “INACT” status are available, while names with an “ACTIVE”, “ACT”, or “INACTIVE/UA” status are not available for use.

Can I file my LLC and personal taxes separate?

The IRS disregards the LLC entity as being separate and distinct from the owner. Essentially, this means that the LLC typically files the business tax information with your personal tax returns on Schedule C. The profit or loss from your businesses is included with the other income your report on Form 1040.

How do I pay my business taxes in Florida?

Electronically File and Pay with the Department File the Florida Corporate Short Form Income Tax Return (Form F-1120A) File Form F-7004. Pay the corporate income tax due on Forms F-1120 and F-1120A. Pay the tentative tax due on Form F-7004.

What is SunBiz used for?

Sunbiz or Sunbiz Florida (some even call it Florida Biz) is the name of a website managed by the Florida Department of State providing the public information with respect to the formation, registration, lookup, search and management of corporations, LLCs and Florida business filing.

How does an LLC avoid paying taxes?

A general Corporation making a Subchapter “S” Election or an LLC with or without a Subchapter S Election pays no federal tax on its taxable income and no employment taxes on its distributions to stockholders.

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What is the florida LLC annual fee

Comment by Tyrell Erhart

welcome to the annual report video lesson what is an annual report the annual report is used to keep your business records updated with a division of corporations an annual report must be filed each year for your business to maintain an active status the annual report is required each year what do you need to make changes or not when is the annual report due the report must be filed every year and it is due between January 1st and May first a non-negotiable $400 late fee is imposed if you forget to file your annual report by May 1st if this is your first year filing an annual report annual reports are due between January 1st and May 1st of the calendar year following the year of formation for example if your LLC was formed on April 1st 2010 your first annual report will be due between January 1st and May 1st of 2011 how much does the report cost if your LLC's annual report is filed before May 1st the fee is one hundred and thirty eight dollars and seventy five cents if you file after May 1st you will be charged the non negotiable late fee of four hundred dollars and you will end up paying five hundred and thirty eight dollars and seventy five cents since you have between January 1st and May 1st to file we recommend filing as early as possible so that you are not late the division of corporations does send out annual report and reminder notices to the email address you listed when you formed your LLC but even if you don't receive the reminder notice it is still your duty to file we recommend setting a repeating reminder on your phone email or Outlook calendar so that you can be automatically reminded each year or when it's time to make your new year's resolutions it's also time to file your annual report what happens if I don't file failure to file an annual report by the third Friday of September will result in the administrative dissolution or navigation of your LLC simply put they will shut down your LLC LLC's that have been administratively shut down may be reinstated by submitting the proper paperwork and necessary fees however the names of these shut down LLC's will be made publicly available to new businesses after one year said another way if you wish to stay in business don't forget to file your annual report can I make changes on the report yes the purpose of the annual report is to confirm or update your records with a division of corporations the annual report will allow you to add delete or change the names and/or addresses of the LLC members change the registered agent and registered agents address change the principal office address and/or mailing address of the LLC and add or change your EIN employer identification number also known as your federal tax ID number the annual report will not allow you to change the name of your LLC if you wish to change the name of your LLC you must file what is known as an amendment what are my payment options payment may be made online by credit card or debit card if you are paying with a credit card you must use a Visa MasterCard American Express or Discover if you are paying with a debit card your debit card needs to have a Visa or a MasterCard logo on it although credit and debit cards are the easiest we will also discuss the third option which is to pay with a check or money order by using a payment voucher how long will it take to process if you pay using the debit or credit card your payment and your annual report will be processed within 24 hours if you pay by mail with a payment voucher and check or money order your payment and report will be processed within 3 weeks how do I sign and get a copy for the purpose of filing documents online the typed name of the individual signing the document is sufficient under Florida law electronic signatures have the same legal effect as original signatures note typing someone's name or signature without their permission constitutes forgery once the annual report is processed it will be available for download on WWC sunbaes org if you paid with a debit or a credit card again allow 24 to 48 hours before you can download a copy and if you paid by mail with a check or money order please allow up to three weeks the online application remember the annual report can only be filed online you can click the link below this video or go to www.hsn.com have entered cleaning to perfection janitorial I'm now going to click search now I'm going to look for my LLC in the list of names and then once I find it if you look to the right you'll see the document number is there you have two options you can either write down that document number or for faster way you can click the link double click your document number and then right click and select copy once you've either written that number down or have copied it then click on home underneath efiling services go to the first option which is angle report filing you're then either going to fill in or you can right click and hit paste your LLC's document number then hit submit if you scroll down you'll find the information that was already filled in and associated with your LLC let's start at the top the first thing you're going to do is enter your EIN number if you need a certificate of status and you haven't gotten one already you can click this check box here agree to pay $5 and your certificate of status will be emailed to you if you're not sure what a certificate of status is you can watch the video on our website for this example I do not need a certificate of status scrolling down you will next enter your email address then re-enter it to make sure there are no typos and continuing on you'll see that your principal place of business and your mailing address information has been pulled up if you need to make any changes this is where you will do so now if everything looks fine you can continue on the next section is the name and address of your registered agent if you need to make changes to your registered agent you can change their name and address here and then underneath the registered agent signature you're going to type the name of your registered agent the name you type in this box cannot be the name of a business or a company it needs to be of an individual who represents that company or it could be somebody you know or it could be yourself if you are your LLC's registered agent make sure you have the consent of the registered agent before typing their name in the box in the next section below you'll see the title the name and the address of the LLC's members if you need to add or remove any of the members of the LLC you can do so now if everything looks good you can scroll down to the bottom or you're going to enter your title and you're going to be entering your name which in essence you're signing this document and then you're going to click continue I'm going to enter mg RM and I'm going to enter my name and then hit continue on the next page it says please review the filing for accuracy if you need to make any changes hit the back button going to click okay I'm now going to scroll down make sure that my email my address the address of the registered agent and the names and addresses of all the me

Thanks for your comment Tyrell Erhart, have a nice day.
- Delmer Kojima, Staff Member

Comment by MarnichC

Thanks for this interesting article

Thanks MarnichC your participation is very much appreciated
- Delmer Kojima

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