How to form an LLC in Florida
Florida is a 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 for forming 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:
1. Name your LLC
You’ll need to choose a company name that complies with Florida naming requirements,
and do a name search on the State of Florida Sunbiz website to make sure the name isn’t already taken.
You should go ahead and register the URL for your business website and email as well.
2. Choose a registered agent.
Florida requires that you nominate a registered agent for your LLC,
who is your 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.
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 MyFlorida Sunbiz website or by mail.
When filing, you will need to consider the management structure of your LLC.
We recommend learning more about member-managed vs manager-managed LLCs before you file.
In Section IV 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.
4. Create an Operating Agreement.
You should also create an operating agreement to establish ownership terms and member roles.
This is an internal document for reference, and does not need to be filed with the state of Florida.
This foundational document is the core of your LLC, and will help you maintain your
organization, as well as further establish your LLC as a separate legal entity.
5. Obtain an EIN.
Lastly, then 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 important for taxes and banking.
EIN’s are free of charge, and can be obtained from the IRS online or through the mail.
And with that, you will have formed a Florida LLC on your own.
Option 2. Hire a Professional Service
The second way to create a Florida LLC is to hire a 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 50 to 150 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:
a 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 formation service is an
easy way to accomplish this.
Research your options
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 5 professional formation
services, or get more information on how to form a Florida LLC on your own.
We offer a host of free templates and tools to help accelerate your small business,
from operating agreements to business plans - all free of charge.
Visit us at HowtostartanLLC.com