Table of Contents
Written by : Junita Rinehart
Current : 6451
Write a comment
Write a comment
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 Angeline Auker, have a nice day.
- Junita Rinehart, Staff Member
hey everyone so in today's video we are going to be talking about florida llc's and everything you need to know about them also show you exactly how to set up your llc in florida in the cheapest and fastest way so there are six steps when it comes to forming an llc in florida and i'm gonna go over them briefly right now and in more detail later on first you're going to want to pick a name for your lc 2 you're going to hire a registered agent which is required in florida 3 you're going to follow your florida llc articles of organization 4 you're going to create an llc operating agreement five you're gonna obtain a florida ein for your llc this is basically just gonna be like a social security number for your business and then six you're gonna get an annual resale certificate for sales tax if you are selling things you do wanna bicep a lot of these steps you can actually use something like ink file this is exactly how i set up multiple of my own businesses so yeah we'll go through these steps in detail right now but if you want to use a platform to just do this all for you just skip to the end of this video i'll do a screen share of how you can set up the florida llc in like five minutes so florida does have some state naming guidelines for llc's and the first is that your name must include limited liability company llc or l.l.c dot the name should not cause any confusion with a government agency so you can't use words like fbi treasury or state department and then you also want to make sure that your name is available in florida so you'll want to conduct a state name search and then also something you should consider is is that url domain name available yeah what i would do is i would check online on something like namecheap.com to see if that name is available number two is you're going to hire a registered agent which is required in florida a registered agent is a person or a business that is responsible for sending and receiving important legal documents on your behalf such as tax forms lawsuits government correspondence and more and a rule is that this person or business must be a full-time resident in florida and it can be yourself it could be an employee or it can be a registered agent service i will say that whatever name and address you guys are using that is going to be public information so if you want to be as private as possible you should use a registered agent service think of your registered agent sort of as like your mailing address three is you're going to file your florida llc articles of organization this is going to be form llc one and you're going to follow this with the florida division of corporations you guys can either do this online or you can do it through mail and then you also want to decide if your lc is going to be member managed or manager managed and for 99 of you guys it's going to be member managed because it's going to be managed by you who is a member next is you're going to create an llc operating agreement now this is not required in florida but i do recommend having one an operating agreement is a legal document that outlines the ownership and operating procedures of your llc it basically is going to be to ensure that both owners and employees know what to expect from the company and vice versa this agreement is going to include information about your organization so who the members are when and where your business was created as well as the ownership structure it's also going to have your management and voting structure they'll have capital contributions so which members are actually putting money into this business they'll have info about distributions about membership changes as well as dissolution which is when the llc may be dissolved next is you're going to obtain an ein number in florida for your llc so this is also known as your federal tax identification number and you can think of it sort of as like a social security number for your business you yourself have a social security number well your florida llc is also going to have one as well and that is called the ein it basically allows the irs to identify and keep track of a business's tax status this is required by the state to open up a business bank account and also to hire employees and in florida you can actually file for your ein for free and this is done after you form your company to get your ein you can do this online or you can do it by mail and on six is you may need to obtain additional licensing in florida the most common business license in florida is going to be the florida annual resale certificate or seller's permit this is required if you engage in business in florida and intend on actually selling taxable goods or services you guys can do this yourself or of course you can use a service like ink file to do this for you and then after you form your florida llc you're gonna want to open up a business bank account because this is going to actually separate your personal assets from your business assets you may also want to get a business credit card if you do want to receive or get rewards for spending money in your business and of course hire an accountant so this is gonna help you save money on taxes they're gonna be able to make sure everything is done correctly you'll avoid any penalties or fines if you do something that's incorrect and yeah a smart business move for almost every business owner so i know it does seem pretty complicated to set up an llc and it is right but there are actually services out there that can do this for you and they can do it for you for little to no money so personally i've used ink file to create multiple of my own businesses and every single time i've used them they have been amazing 100 worth the money they'll literally save you hours and hours of your own time and you can take that time and use it to actually you know build your own business so in a little bit i'll show you guys how to set up your llc in florida using ink file and the plan i recommend which we'll go over more is the gold plan and with the gold plan they're just literally going to do everything for you and you guys are gonna see it is well worth the money now let's also talk about some florida tax filing requirements right so there's the florida re-employment tax and this is required if you plan on having employees it's sort of like a type of unemployment tax and you can apply for this through the florida department of revenue new employers also need to pay a 2.7 tax on the first 7 000 paid to employees and then if you guys are in any specific industries you also might require additional state taxes in terms of federal licensing this is only required if your business is regulated by the federal government so most of you guys probably aren't going to need to get a federal license it's only going to apply for businesses that relate to alcohol agriculture fishing and wildlife firearms and ammunition tv broadcasting nuclear energy and more in terms of federal tax filing requirements you must report your income to the irs every single year for multi-member llc's you'll likely use the form 1065 partnership return and then fo
Thanks ke4er2 your participation is very much appreciated
- Junita Rinehart
About the author
I've studied geomagnetism at Northwestern University in Evanston and I am an expert in apologetics. I usually feel amused. My previous job was statement clerks I held this position for 21 years, I love talking about surfing and fly tying. Huge fan of Rita Ora I practice netball and collect bazooka joe comics.
Try Not to laugh !
Joke resides here...