To form a Limited Liability Company (LLC) in Florida, the following steps must be taken:
- Choose a name for the LLC that is not already in use by another registered entity in Florida. The name must end with either "LLC" or "Limited Liability Company".
- Draft and file Articles of Organization with the Florida Department of State. The Articles of Organization typically include the LLC's name, principal address, registered agent information, management structure, and a statement of purpose. The filing fee is $100.
- Prepare an Operating Agreement, which sets forth the ownership structure, management responsibilities, and distribution of profits and losses among the LLC's members. While an Operating Agreement is not required by law, it is highly recommended to clarify the LLC's internal operations.
- Obtain any necessary licenses and permits required for the LLC's operations in Florida. The requirements depend on the type of business activity conducted by the LLC and may vary by county or municipality.
- Obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). An EIN is required to open a business bank account and pay taxes.
- Register to pay state sales tax if the LLC engages in sales of taxable goods or services in Florida.
Potential limitations or exceptions to the above advice may depend on the specific circumstances of the LLC. For example, if the LLC has foreign owners or conducts business outside of Florida, additional filings and registrations may be required. It is recommended to consult with a licensed attorney to ensure compliance with all applicable laws and regulations.
In summary, the steps to form an LLC in Florida are: choose a name, file Articles of Organization, prepare an Operating Agreement, obtain necessary licenses and permits, obtain an EIN, and register to pay state sales tax if applicable.
By