LLC License Florida: Everything You Need to Know
Getting an LLC license in Florida is a popular way to start a business3 min read
2. Advantages of LLC License Florida
3. Frequently Asked Questions About LLC Licenses in Florida
4. Steps to Getting an LLC License in Florida
What is an LLC License Florida?
Getting an LLC license in Florida is a popular way to start a business. LLCs are flexible in organization with known tax efficiencies and liability protections. Unlike some business structures, the members of an LLC could include individual people, other LLCs, and corporations.
Advantages of LLC License Florida
1. In Florida, LLCs are easy and very inexpensive to form.
2. There is no limit in place in terms of the number of members in an LLC in Florida.
Frequently Asked Questions About LLC Licenses in Florida
How long does it normally take to process LLC paperwork?
In most cases it takes 2-14 business days, depending on your business, your payment method, and if you correctly submitted all of the necessary documents.
What are the naming requirements for LLCs opened in the state of Florida?
In the state of Florida, LLCs must have distinguishable names from other LLCs. You can choose to have your preferred LLC name checked to see if it is available using the Florida Division of Corporation's online database or by contacting this office directly.
Is an operating agreement required for LLCs that operate in the state of Florida?
While an operating agreement is not required by the state of Florida for LLCs, LLC owners are advised to have one. A good operating agreement outlines:
- Member roles and responsibilities
- Voting rights
- LLC management
- How to remove or add new members
- How to dissolve the LLC and under what conditions
- How to amend the LLC operating agreement
Does the state of Florida allow for name reservations?
Unlike some other states, Florida does not allow for name reservations for business entities through any government office. If your preferred name is available, it is important to go ahead and process your LLC paperwork to reserve your chosen name.
What fees are required to form an LLC in Florida?
- Fee to file Articles of Organization
- Certified copies
- Change of Registered Agent
- Articles of Correction
- Annual report fees
Does Florida have local licenses?
Depending on where your business operates, you may have county and city license fees to pay. Check with local government offices to learn about any special requirements that your business may have in terms of local fees and licenses.
When can I legally start operating under my LLC's business name?
You can start operating as your business name once you have filed all of your paperwork with the state, paid applicable filing fees, and received a copy, either digitally or physically in the mail, of your business license. You will need this information to get an Employer Identification Number (EIN) from the Internal Revenue Services (IRS), rent business space, secure financing, and hire employees. The EIN number is free and should be handled as part of the start-up process.
Do I need to renew my business licenses?
How often you need to renew your business licenses depend on the type of business you operate and its industry. Some industries require you to renew your LLC license more often than others.
How do I know when my business license expires?
Most business licenses have their expiration date printed on the document.
Steps to Getting an LLC License in Florida
- Include a cover letter with your name, business address, email address, phone number, and LLC name, as well as the effective date, registered agent, and signatures.
- This costs around $125 to file.
2. When the LLC is successfully registered, you will receive a letter of acknowledgment.
3. Apply for an EIN number from the IRS.
- Getting an EIN number is free and can be completed online.
4. Write an operating agreement for your LLC, as the state recognizes this document as a governing document for your LLC.
5. Open a business banking account at a Florida bank.
6. Secure relevant permits and licenses for your business type, including building permits.
7. Learn about your LLC's ongoing legal obligations. This includes:
- Annual reports
- Filing fees of around $140 each year
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