The LLC in Florida cost for registration is $100, including a $25 fee for adding a registered agent. Before deciding to register a business in Florida, you must first determine if an LLC structure would suit your business goals. An LLC is a business entity that gives business owners certain flexibilities and tax advantages. It combines the structure of a corporation with the benefits of a limited liability partnership.

Its most notable quality is that it affords LLC owners with personal liability protections and protects the personal assets of members.

Another prime quality is that LLCs are easy to register in Florida, and they are affordable to create. Also, state authorities do not place restrictions on the number of members, and the IRS does not tax LLCs. LLCs operate under pass-through taxation, where profits and losses pass from the business to individual members. Members would then note such losses and profits on their individual returns and only pay taxes from the income they receive from the LLC. LLCs also do not pay business income taxes.

Florida does come with unique requirements when it comes to LLC regulation. You would register the LLC via the Florida Division of Corporations through the filing of forms and paying the applicable fines. The most important document to keep in mind is the articles of organization, which creates your LLC.

Articles of Organization

The document must be accompanied with the following:

  • Cover letter
  • Applicant name
  • Email
  • Address
  • Contact number
  • LLC name

Also, you need to note if your LLC is manager-managed or member-managed. Fees may change, which is why should check with the Corporations Division before submitting payment. You can submit the paperwork online or via mail.

You should ensure that your articles of organization contains the necessary information:

  • LLC address and name
  • Registered agent name, signature, and address
  • Address, title, and names of managers and/or members
  • Creation date
  • Signature of representative

Once you submit the paperwork, an acknowledgement letter will be sent to your address once you register the business. The processing time ranges from two to 14 business days, which depends on such factors as how you pay the fee or submit the document.

Name Your LLC

The first step when creating your LLC is the naming process. You should do your research to ensure that the name suits your business properly and that the name is not already in use. The best way to ensure that your name is unique to make sure it’s distinguishable, does not sound too similar to other names, and easily findable. You may also choose any name you like, so long as it ends with such designators as “LLC,” “L.L.C.,” or “Limited Liability Company.”

Moreover, you must be aware of certain restricted words:

  • Bank
  • Attorney
  • University

Such names come with additional licensure, and restricted words should be avoided to prevent confusion from the public.

Also, you must be aware of prohibited words:

  • FBI
  • Treasury
  • Secret Service

You cannot use words that associate your LLC with government agencies.

When it comes to name reservation, Florida does not have a reservation system. Instead, you have to search for your intended name to see if it’s available. Also, you should get the domain as well, even if you have no intention of creating an online presence. Getting the domain name prevents businesses and individuals from using your name online.

Operating Agreement

An operating agreement is not mandatory in Florida, but you should have one in place. An operating agreement establishes the management structure of your LLC. It should contain such provisions as:

  • Roles and responsibilities
  • Voting rights
  • Managerial staff
  • Admission and removal of members
  • LLC dissolution procedures
  • Amending the agreement

Florida officials recognize operating agreements as government documents, and you do not have to file it with authorizes.

LLC Taxation

Since LLCs do not have a specific tax code, you would choose a tax classification. LLCs are taxed as partnerships or sole proprietorship by default, but you can choose a corporate tax classification as well. For instance, you may choose a C-corp tax classification, which is the standard corporate entity, and an S-corp classification. With that, you should know that choosing a C-corp classification comes with double taxation, while an S corp offers the same pass-through taxation method.

To learn more about an LLC in Florida cost, submit your legal inquiry to our UpCounsel marketplace. UpCounsel’s attorneys will give you a helping hand in all matters pertaining to the registration process in Florida, including the necessary maintenance procedures you need to be aware of. Moreover, they will help you find the right tax structure that suits your business goals, including whether an LLC is the right move for your business goals.