What is the process for forming a limited liability company (LLC) in Florida?
How to Form an LLC in Florida
To form a limited liability company (LLC) in Florida, the following steps must be taken:
- Select a name for the LLC. The name should include the words "limited liability company" or the abbreviations "LLC" or "L.L.C." and should not be the same as, or similar to, the name of another Florida LLC or corporation.
- File Articles of Organization with the Florida Department of State, Division of Corporations. The Articles of Organization should include the name of the LLC, the registered agent's name and address, the LLC's principal place of business, and the names and addresses of each manager or member of the LLC.
- Obtain any necessary licenses or permits that may be required for the LLC's specific business activities.
- Create an operating agreement that outlines the management structure, member responsibilities, and voting procedures for the LLC. Although an operating agreement is not legally required in Florida, it is strongly recommended and may be required by certain banks, investors, or business partners.
- Obtain an Employee Identification Number (EIN) from the Internal Revenue Service (IRS) if the LLC has more than one member, hires employees, or files certain federal tax returns.
- Register for state and local taxes, such as sales tax, if applicable.
- File an annual report with the Florida Department of State, Division of Corporations, by May 1st of each year. The annual report should include the LLC's name and address, the name and address of the registered agent, and the names and addresses of each manager or member of the LLC.
Potential limitations or exceptions to the advice may include specific requirements for certain types of LLCs, such as professional LLCs. Further action may be required depending on the specific circumstances of the LLC, including obtaining additional licenses or permits, complying with zoning regulations, or fulfilling federal reporting requirements.
It is important to note that this advice is intended for general informational purposes only and should not be relied upon as a substitute for legal advice from a licensed attorney.