The Best Way To Form A Florida Limited Liability Company
If the business you’re in now is suffering due to COVID-19 Pandemic restrictions, you might want to consider starting a different type of company. It’s not that hard to get started. There are many different types of Florida business structures to choose from, but most new businesses are the “limited liability company” (LLC) structure because it offers protection from personal responsibility for debts and lawsuits without having to meet onerous requirements. South Florida Legal Doc Prep can prepare and file all the documents necessary to form an LLC for your new company.
Choosing a Name for Your Florida LLC
The legal name of your company must include the words “Limited Liability Company,” “Limited Company,” or have the abbreviations “LLC” or “LC.” The name you choose must be checked for availability with the Florida Division of Corporations, as no two business entities in Florida may have the same name. You can have other names that you use when doing business, known as “doing business as” (DBA’s) or trade names. These must also be registered with the Florida Division of Corporations.
Appointing A Registered Agent
Every limited liability company in Florida must register an individual or business entity to accept legal papers on behalf of the company. The registered agent must have a physical address and be either a legal resident or registered business entity in Florida.
Filing Article of Organization
An important part of the formation process for a Florida LLC is the drafting of Articles of Organization. The requirements are flexible, but must include:
- Mailing address for the LLC’s office
- Name, address and signature of the registered agent
- Names and addresses of all managers for the LLC
- The date of filing (or other effective date)
- The signature of an authorized LLC representative
Preparing an Operating Agreement
An operating agreement is optional for a Florida LLC, but it’s a good idea to have one anyway. Setting out the rights and responsibilities makes sense because you will be fully familiar with your own rules, giving you the ability to plan for how disputes will be resolved. LLC without operating agreements are governed by Florida laws which are sometimes complicated and difficult to interpret, leaving much to chance.
Tax and Regulatory Issues
LLC’s with more than one member must apply for an Employer Identification Number (EIN). This is true even if the LLC has no employees. It’s important to investigate whether the type of business you are operating requires a business license. This information can be found on MyFlorida.com. Businesses that sell goods, collect sales tax or have employees need to register will the Florida Department of Revenue (DOR).
Filing Annual Reports
Florida requires all active LLC’s to file an annual report starting with the year following its formation. Due to the COVID-19 Pandemic, the filing period for this year has been extended.
South Florida Legal Doc Prep
If you want to put the time you have on your hands towards starting the business of your dreams, we can help. Just upload the information that’s needed and we’ll accurately type into the forms that Florida requires to form a new LLC. We can help you file all the proper papers and begin your new business.
This blog does not constitute legal advice and does not establish an attorney-client relationship.
If you need legal advice, please contact a lawyer directly.