Should you form your LLC in Florida? We’ve collected the relevant information that will help you make this decision.
- Large and wealthy population base
- Favorable taxing of LLCs
- Business owners disclosed in original filing
Cost of doing business
- $125 filing fee / $139 periodic report
- LLCs are taxed as partnerships
- Owner is disclosed in original filing
Forming an LLC in Florida
Your company’s official name will need to end with one of the following signifiers (or abbreviation of): “Limited liability company”, “Limited Company”, “L.C.”, “LC”, “LLC”, or “L.L.C.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. There are also restrictions placed on the use of several terms common to the financial industry. Do a FREE name search now.
The owners of an LLC are called “members.” The following information is required regarding your LLCs members:
- Required number of members
Florida LLCs must have at least one member or manager listed in their incorporation documents.
- Age restrictions
LLC members in Florida may be of any age.
- Residence restrictions
There are no residency restrictions imposed on LLC members in Florida.
- What information needs to be included in the articles of organization?
LLC Members in Florida are required to list their name and address in their articles of organization.
Requirements for the articles of organization
The articles of organization is a document that must be filed to form your LLC. It must include:
Registered agent information
All Florida LLCs must have a registered agent on file, and submit their name and physical Florida address (which cannot be a P.O. Box). This agent will be required to be accessible during standard business hours and act as the state’s point of contact with the company. Learn more about registered agents in Florida.
Additional Florida filing requirements
Professional service companies are permitted to form as LLCs in Florida. However, the state does not recognize the professional limited liability company (PLLC) as a formal structure.
Florida LLC taxation and fee requirements
There are several tax and fee requirements that must be addressed by LLCs. They are as follows:
All states have complex taxation requirements. For more information regarding taxes in Florida, it is advised that you visit the state’s official business related website.
Annual report requirements
LLCs in Florida are required to file an annual report every year before May 1st. The cost of this filing is currently $139. Learn more about annual reports.
Tax identification numbers
Florida requires an EIN (Employer Identification Number) for all LLCs that will have employees, and most banks will require one to open accounts. Florida does not require LLCs to obtain state tax ID numbers. Learn more about EINs.
Business license requirements
The business licenses and permits required in Florida vary wildly depending on the county or municipality where your new LLC is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.