LLC Florida Cost: Everything You Need to Know
The state of Florida, in the southeastern corner of the United States, is often a good choice for a business that wants to incorporate or form a limited liability company (LLC).3 min read
2. Limited Liability Company
3. Naming the Florida LLC
LLC Florida cost refers to how much an individual would pay in fees to form a limited liability company in the state of Florida. In general, the cost to file articles of organization is $100, and if you would like to register an agent for the LLC, then that is an additional $25. All payments by credit card must be done online.
Forming a Limited Liability Company in Florida
The state of Florida, in the southeastern corner of the United States, is often a good choice for a business that wants to incorporate or form a limited liability company (LLC). Florida boasts the fourth biggest population of any state in the country. In addition, there is a robust business community. Affordability and ease of process are notable in the Florida practice of forming a limited liability company.
There are some requirements in the state of Florida for limited liability companies.
Florida has a Division of Corporations within the Department of State. Registration with the Florida State Division of Corporations entails:
- Filing appropriate forms
- Paying fees ($100 for articles of organization and $25 to register an agent)
- Meeting formation and naming requirements
Limited Liability Company
LLCs are a hybrid of a limited liability partnership and corporations. Members (owners) are afforded the protections of their personal assets from liability and then, depending on their election, they may avoid double taxation. Limited liability companies (LLCs) are a corporate business structure.
There are advantages and disadvantages to every corporate structure. One advantage of the LLC is that there are no ownership restrictions on a small business. Membership of the LLC may be one or more than one hundred members. Corporations, non-resident aliens, trusts, partnerships, pension plans, or non-profit organizations may all hold membership in the LLC.
The Internal Revenue Service may determine that the LLC is a pass-through instrument and therefore not subject to tax exception at the member level. There are both manager-managed LLCs and member-managed LLCs. In a member managed LLC, all of the members can bind the LLC legally to commitments and debt.
In a manager managed LLC, the member or non-member who is designated as the manager can bind the LLC legally to commitments and debt. All these arrangements should be spelled out in the LLC Management Agreement. While a management agreement is not required, it is highly recommended no matter in which state you form your LLC.
Naming the Florida LLC
Deciding on a name for a new company is an important step. The name should tell customers what the business does (i.e. plumbing) and possess short words that are easy to say and spell. Florida does have some requirements for the name:
- The name must end with “Limited Liability Company” or an abbreviation of it such as Ltd. Co. or L.L.C. or LLC.
- Must not contain restricted words (i.e. Attorney, Doctor or Bank) without the appropriate licensure and additional paperwork.
- Must never contain misleading words connecting the company inappropriately to the government or a government entity (i.e. Treasury, FBI or Secret Service)
- The name must be distinguishable from already registered LLCs in the State of Florida.
In addition, the name of the LLC should be checked for availability. You can accomplish this, one of two ways.
- Go to the Florida Department of State Division of Corporations website to check to see if the name you have selected is already in use.
- Begin filling out an online articles of organization for Florida on their website and if your name is already in use then the system will tell you. You may have to select another name if your desired name is already in use or is significantly similar to another registered name.
It is also highly recommended that you check to see if your desired name is already being used on the internet. You can do search through a vendor to find out if it’s already in use. You may not even want to have a website right away by registering the name so that no one else does.
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