how to establish an llc in florida [Deep Research]


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Last updated : Sept 21, 2022
Written by : Wilson Ebert
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how to establish an llc in florida


Comment by Edgar Putt

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 Edgar Putt, have a nice day.
- Wilson Ebert, Staff Member


Comment by Micheal

want to quickly start an llc in florida for free i'll help you do just that in this step-by-step tutorial i'll make sure to cover any critical requirements important tricks that you should not miss when forming your llc then also as a bonus later on in the video i'll show you a trustworthy registered agent who'll help set up your llc for free and save you the time and hassle so make sure to stick with me until the end let's first take a look at the steps required for forming an llc by yourself step one name your business before anything else you'll have to think of the llc's legal business name each llc in florida must have a distinct llc name that is not currently in use you must include the terms limited liability company or an abbreviation such as llc you cannot include phrases such as corporation which would lead people to believe you are a different business type finding out if your business name has been taken or not is very easy simply go to google and type in the words business entity records florida secretary of state and click the first search result i'll also leave the link in the description below for your convenience it will lead you to the official page of business entity records in florida scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example i'm typing a very common business name here a1 cleaning service which will give you a list of existing business names the secretary of state must reserve the llc's trade name before filing name reservations are a one-of-a-kind requirement and florida is one of the only states that mandates them which will unfortunately add an extra step to the usual process you can make a name reservation for 25 and this reserved name lasts up to 120 days from the acceptance date of the application there is no form instead send a letter specifying the name to be reserved your name and address to the secretary of state step 2 get a registered agent florida requires llc's to have a registered agent an agent has a physical address as po box is not allowed and is available during normal business hours this agent will serve as the llc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you or someone in your company can become this registered agent however i highly recommend you utilize a professional registered agent as they have much more knowledge of protecting your company in cases of possible issues like problems concerning court schedules filing reports with secretary of state etc besides hiring a professional registered agent is very affordable these days in fact an honest and reliable company i recommend inkfile offers a free registered agent as part of their package when you form your llc through them but i'll talk more in this later in the video step 3 filing the florida llc certificate of formation this next step requires you to file a certificate of formation with the florida division of corporations the florida state filing cost for llc is 125 with the option of online application or through mail to the division of corporations you would have to download and print this document from their official website making sure you read all the requirements carefully so your form gets accepted when physically mailing it through this whole process should take between 10 to 15 business days step 4 prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not required for florida your operating agreement should clarify how your company or business will handle big picture issues these include the transfer of membership interest profits losses and distributions initial investments decision-making powers voting rights team management and lastly dissolving the business step 5 obtain an ein next we need to get an ein for your llc an ein or employer identification number is a federal tax id issued by the irs to your company your ein is issued by the irs to readily identify your firm on tax filings all florida firms pay a business privilege tax and the state requires you to have an ein to file you may also be required to provide your ein when opening a bank account or applying for municipal permits or licenses obtaining an ein is a slightly longer process compared to the previous steps i'm sure you know anything to do with the irs is confusing and tedious first you have to have complete knowledge of your llc such as your company information managing member information business address business information company details and even the critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service and inkfile the service i recommend above is one of the best companies out there to help you form your florida llc you can click on the link in the description or type this into your browser to get access to this package ink file is one of a kind as it offers a free silver package with services such as preparing and filing your articles of organization well you still have to pay 125 dollars for the state fees which you'd have to do anyway if you chose the diy option but looking at the bigger picture all companies will still charge for their service fee on top of state filing fees but infile does not collect this fee this plan already includes a free registered agent for your first year of subscription and 119 dollars annually moving forward if you decide to continue the service after the first year however infile's gold package is the one i would recommend to everyone as it will save you a lot of hassle and time for an extra small fee inkfile will obtain your ein business tax number and create an operating agreement which will eliminate the overall steps of 4 and 5 from above now if you're in a hurry and require expedited filings or you want to have a domain name with a business email address then their platinum package is also worth considering otherwise i would stick with the gold package now i want to guide you on the next step to take when starting your llc so if you have chosen the diy option then i recommend you check out this video which will help you pick the best bank accounts for your business to avoid comingling funds and piercing the corporate veil but if you've chosen option two of using a professional formation service but want more information on ink file then check out this video where i've done an in-depth tutorial and review on them so check it out and i'll see you over in that next video


Thanks Micheal your participation is very much appreciated
- Wilson Ebert


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