florida llc setup cost [Expert Advice]

Last updated : Sept 9, 2022
Written by : Sydney Landres
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florida llc setup cost

What is needed to start an LLC in Florida?

  1. Name Your Florida LLC.
  2. Choose Your Registered Agent.
  3. Prepare and File Articles of Organization.
  4. Receive a Certificate From the State.
  5. Create an Operating Agreement.
  6. Get an Employer Identification Number.
  7. Obtain your Florida Business License.
  8. Establish a Bank Account.

Is LLC free in Florida?

In Florida, you must pay the state a $125 filing fee to set up an LLC and designate a registered agent. You'll pay more if you hire someone else to fill out the paperwork.

How quickly can I set up an LLC in Florida?

How long does it take to get an LLC entity set up in Florida? Depending how quickly the state processes the filings, it will take between two and five business days to set up your LLC entity.

Do you have to pay for an LLC Every year in Florida?

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 have to renew my LLC Every year 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.

Do LLCs pay taxes in Florida?

LLCs in Florida Like S corporations, LLCs, except those that are also incorporated, are shielded from state income tax, and their owners pay no tax to the state of Florida on the personal income that passes through to them from the businesses.

Does an LLC need an EIN in Florida?

Taxpayer Identification Number An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below.

Does Florida allow single member LLC?

A single-member LLC can be formed online, by mail, fax or in-person. A Florida SMLLC is no different in its formation and maintenance requirements. You must still designate a Florida registered agent and file a Florida LLC Annual Report each year.

How much does it cost to start a small business in Florida?

The rough estimate for starting a business in Florida is around $400 to $3,000. The bare minimum cost of $400 just covers the registration and paperwork required to start a business in Florida. The cost can go up to $3,000 or more depending on the size, industry, ownership and tax structure of your business.

How much is a business license in Florida?

Generally, you can expect to spend less than $100 on a license. If you are unsure of the specific Florida business licenses and permits that you will need, then incorporate.com can help.

How long does it take Sunbiz to approve LLC?

This depends on how you filed. If your Articles of Organization were submitted and paid for online, they will usually be processed within two to three business days. Submissions and payments made by mail will take three to five business days to be processed.

Can I be my own registered agent?

You can act as your own Registered Agent for a corporation or LLC as long as you have a physical street address in the state where your corporation or LLC is formed. The actual corporation or LLC being formed, however, cannot name itself as its own Registered Agent.

Where do I get an LLC in Florida?

In order to start a business in Florida, you'll need to go through the Florida Department of State's Division of Corporations. The Division of Corporations sets the rules, requirements and costs to form an LLC in Florida.

How do I start a small business in Florida?

  1. Check with your County Tax Collector to see if you need a license.
  2. Register your business with the Department of Revenue.
  3. Register with the IRS.
  4. Corporate entities or fictitious name registrants should register with the Department of State.

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.

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.

Can I file my LLC and personal taxes separate?

Single member LLCs classified as disregarded entities generally do not report their own income separately from their owners. However, they are treated as separate entities for purposes of the annual tax, LLC fee, tax return requirements, and credit limitations.

Can you be your own registered agent in Florida?

A business entity with an active Florida filing or registration may serve as a registered agent. An entity cannot serve as its own registered agent. However, an individual or principal associated with the business may serve as the registered agent. The registered agent must have a physical street address in Florida.

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

In addition, you can change both the principal and mailing addresses of your business, the address of your registered agent, and your business's employer identification number (EIN). But, even if there are no changes in your business information, you are still required to file an annual report.

Does Florida have business income tax?

The Florida corporate income/franchise tax is imposed on all corporations for the privilege of conducting business, deriving income, or existing within Florida. Corporations, including entities that are taxed federally as corporations, are subject to the tax.

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florida llc setup cost

Comment by Ahmed Durphey

subscribe to our channel bpm helps you start and run your remote business and llc is one of the best asset protection tools available to entrepreneurs today it provides stronger credibility liability protection and no state income tax did you know there were over 530 000 llc's formed in the state of florida in 2021 alone before you join the fun in the sun here's everything you need to know about formation and maintenance costs when forming your florida llc cost of forming a florida llc the minimum you'll have to pay is 125 and it's broken up further into these costs the articles of organization for 100 this is a one-time fee to make your llc officially operate like the official birth certificate for your business next florida has a mandatory registered agent designation fee for 25 dollars you must pay this regardless of who you choose as your registered agent it's your placeholder to operate in the state of florida now i'm going to dive into the registered agent options you can be your own registered agent with no additional charge with the 25 but it's not recommended since it can compromise your security because your name and address will be publicly available online or you can use the third party registered agent service but again this isn't recommended because it can get very expensive or you can use a virtual mailbox with a bpm virtual mailbox you can get one for free just pay the virtual mailbox price you can have the best of both worlds with a business address from your virtual mailbox and a service to handle your registered agent responsibilities on your behalf because vpm is a virtual mailbox you'll be able to receive same-day notifications through your online account when service or process or legal correspondence is sent to you this ensures you'll never miss a time sensitive deadline business permits and licenses florida does not require a statewide business license so that's one less thing you'll have to worry about but if you're operating in a regulated industry think real estate food service or anything medical related there's a good chance you'll need to apply for a business license through the florida department of business and professional regulation one last formation fee you may have to worry about is a foreign qualification fee for 125 this is only necessary if your llc was formed in another state and is now expanding to florida for example if you're operating your online business in delaware and in florida what are the costs of maintaining your florida llc you'll have an annual report fee for 138.75 your llc's annual report is due may 1st of each calendar year if you forget you'll incur a hefty 400 late fee there's also an amended report fee for fifty dollars this is if you need to make changes to your articles of organization cost comparison chart if you made it this far in the video you're probably pretty confident in your choice to incorporate in florida but in case you're still on the fence here's a handy chart that displays different llc formation costs between some of the more popular states in the state of california llcs making over 250 thousand dollars in annual profits will have to pay additional fees to find out more details go to the article in the link below with that being said all states offer different benefits so be sure to evaluate what you want to achieve for your business because the location matters now that you've solidified your choice in starting your llc in florida be sure to check out all related articles and videos from our channel and for any more questions or things you want to know be sure to leave a comment in this video learn more

Thanks for your comment Ahmed Durphey, have a nice day.
- Sydney Landres, Staff Member

Comment by Javier

Thanks for this interesting article

Thanks Javier your participation is very much appreciated
- Sydney Landres

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