how much is an llc in florida [Solved]

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Last updated : Aug 8, 2022
Written by : Pauline Skevofilakas
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how much is an llc in florida

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how much is an llc in florida

Comment by Leonore Litteral

how to form an LLC in Florida Florida is an excellent place to form a new LLC the Sunshine State has the lowest income taxes in the country and is number one in economic growth prospects every state has slightly different requirements performing an LLC follow along closely to learn the required steps for creating your own limited liability company in the state of Florida there are two ways to form an LLC in Florida you can form one yourself or you can hire a service to do it for you let's start by looking at the five basic requirements to form an LLC in Florida on your own you can also find these steps in more detail on our website linked in the description below 1 name your LLC every state has its own rules about what kind of names are allowed for LLC's in general you will need to observe these naming guidelines your name must include the phrase limited liability company or one of its abbreviations LLC or LLC with a period following H letter restricted words such as Bank Attorney law office etc may require additional paperwork and may also need a licensed professional to be part of the LLC your name cannot include words that could confuse your LLC with a government agency such as FBI Treasury State Department etc you cannot use a name that has already been registered to see if your name is available in your state you'll need to do a name search this free service is available on your state's Secretary of State website check out our free guide for finding the direct link to your state we also recommend that you check to see if your business name is available as a web domain even if you don't plan to make a business website today you may want to buy the URL in order to prevent others from acquiring it to choose a registered agent Florida requires that you nominate a registered agent for your LLC who is the business's point of contact with the state the registered agent can be an individual within the company including yourself or you can hire a professional service authorized to do business in Florida they will send and receive legal papers on your behalf these documents include official correspondence like legal summons and document filings which your registered agent will receive and forward to you your registered agent will help remind you to file the nest Cerie reports failure to properly maintain your LLC can result in fines and dissolution so this assistance is valuable 3 file the articles of organization to register your LLC you will need to file the articles of organization with the state of Florida this can be done online at the my Florida Sun biz website or by mail when filing you will need to consider the management structure of your LLC we recommend learning more about member managed versus manager managed LLC's before you file in Section 4 of the articles of organization you will be asked about your LLC's management structure this section can be left blank however if you plan to open a business banking account the bank may require you to list the name of at least one authorized representative this can be a manager or member in your articles of organization since it's important to open a separate bank account for your LLC most people add the name of the person who will open the account you do not need to list every member for create an operating agreement although not every state requires it you should always create an operating agreement to establish ownership terms and member roles for your LLC this foundational document is the core of your LLC and will help you maintain your organization as well as further establish your LLC is a separate legal entity there are six main sections of an operating agreement organization outlines when and where the company was created who the members are and how the ownership is structured management and voting addresses how the company is managed as well as how the members vote capital contributions covers which members financially support the LLC and how more funds will be raised in the future distributions outlines how the company's profits and losses are shared among members membership changes describes the process for adding or removing members as well as if and when members can transfer their ownership shares and dissolution which explains the circumstances in which the LLC may be dissolved an operating agreement is an internal document it does not need to be filed with the state however it should be updated every time there is a change in membership or management at the company you can download a free sample operating agreement or create a custom one using our free operating agreement tool at how to start an LLC com 5 obtain an ein lastly you'll need to get an employer identification number or ein from the IRS also known as a federal tax identification number your EIN is like a social security number for your LLC and is how the IRS tracks your business for tax purposes an ein is also necessary to open a business banking account and legally hire employees Aeons are free of charge and can be obtained from the IRS online or through the mail and with that you'll have formed a Florida LLC on your own option to hire a professional service the second way to create a Florida LLC is the hire professional service to create your LLC for you hiring a professional service to file your forms and act as your registered agent for the LLC will cost you an additional fifty to one hundred and fifty dollars however there are several benefits to working with a pro a hired registered agent helps with getting your reports filed on time helps you stay organized by keeping your business mail separate and is available at all regular business hours to accept official mail and legal papers on your LLC's behalf a final and important additional benefit of using a service is privacy the professional service will provide a level of privacy by withholding your personal name and home address from the LLC's contact information there are many reasons you might not want your personal information easily accessible and associated with your business hiring a professional LLC for mation service is an easy way to accomplish this now that you have seen the different requirements and ways you can form an LLC in Florida visit our site and take some time to research your options and establish a solid foundation for your business activities click on the links in the description below to research the top five professional formation services or get more information on how to form a Florida LLC on your own now you know all the steps to form an LLC in your state for a more detailed guide go to how to start an LLC com you can also create an operating agreement and use our business plan tool free of charge give the video a like if you found it useful and subscribe if you'd like to see more and if you have questions or encounter any roadblocks leave a comment below good luck and starting your small business you

Thanks for your comment Leonore Litteral, have a nice day.
- Pauline Skevofilakas, Staff Member

Comment by hepigynolb

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 hepigynolb your participation is very much appreciated
- Pauline Skevofilakas

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