How to Start Your LLC in Florida
Legal Bueno helps with everything you need to start your business. We take care of all the paperwork so you don't have to worry about it. Want to learn more about the process we handle? Keep reading!
Quick Summary:
- Filing Fee: $125
- Turnaround time: 5 business days
How do I start an LLC in Florida?
Thinking about starting an LLC? The process is pretty similar across the states. You'll start by picking a unique name for your business (you'll need to check to make sure it hasn't been taken!) and then filing some paperwork—usually called Articles of Organization or a Certificate of Formation—with your state's agency.
If you want to check the name availability for Florida, visit https://search.sunbiz.org/Inquiry/CorporationSearch/ByName.
After that's taken care of, you'll want to draft a governing doc for your business called an operating agreement & find any licenses you might need. Just keep in mind that each state has its own little quirks, so it's always a good idea to double-check specific requirements for your area.
What are the costs & processing times of starting a business in Florida?
Here's the rundown for Florida:
- The filing fee is: $125
- There are ongoing fees of $138.75 (every year)
- It usually takes 5 business days if you're filing online or 12 business days (plus mail time) if by mail.
Why Florida is a great state for your LLC
Starting a company in Florida presents several compelling benefits that can enhance the experience of entrepreneurs and business owners. Here are some key advantages:
- Business Incentives: Florida provides a range of business and tax incentives, making it financially attractive to launch a company. Notably, the Brownfield Incentives offer bonuses and tax refunds up to $2,500 for each job created at designated Brownfield sites, encouraging job growth and economic development.
- Favorable Business Structure: Creating a Florida Limited Liability Company (LLC) is a straightforward process, ideal for startups and small- to medium-sized businesses. An LLC offers a blend of liability protection and operational simplicity.
- Limited Personal Liability: An LLC structure separates your personal assets from the business's liabilities. This means that personal debts are safeguarded from business challenges, offering essential protection to entrepreneurs.
- Affordable Formation Costs: The initial filing fee for establishing an LLC in Florida is only $125, which is relatively low compared to many other states. This includes the $25 fee for designating a Registered Agent.
- Streamlined Compliance: The management and compliance requirements for an LLC in Florida are less cumbersome than for larger corporate entities. This allows business owners to focus more on growth and less on regulatory red tape.
- Tax Benefits: Florida's tax policies can present advantages during filing. The potential for favorable tax treatment helps businesses allocate more resources to expansion and operations, rather than taxes.
These factors collectively create an environment that is not just conducive to starting a business, but also supports long-term growth and sustainability.
Legal Requirements
Remember! Legal Bueno will handle all of these requirements for you, but if you're interested, here are the legal requirements for Florida:
Articles of Organization
The articles of organization must include:1. The name of the LLC;
- The street and mailing addresses of the company's principal office;
- The name, street address in Florida, and written acceptance of the company's initial registered agent.
The articles of organization may contain statements on other matters, but may not be inconsistent with the provisions specified in Fla. Stat. § 605.0105(3) (limitations on operating agreements).
Fla. Stat. § 605.0201
Filing fee: $100
Filing Process
After you've prepared the initial formation documents, you need to file it! Here is what Florida laws require for filing:
A record authorized or required to be filed with the Department of State must be captioned to describe the record's purpose, be in a medium authorized by the department, and be delivered to the department. If all filing fees are paid, the department will file the record unless the department determines that the record does not comply with the filing requirements.
If the department has prescribed a mandatory medium or form for the record being filed, the record must be in the prescribed medium or on the prescribed form.
Except as otherwise provided by the department, a document to be filed with the department must be typewritten or printed, legible, and written in the English language. An LLC name does not need to be in English if written in English letters or Arabic or Roman numerals, and the certificate of existence required of a foreign LLC does not need to be in English if accompanied by a reasonably authenticated English translation. The department may require filers and registrants to furnish e-mail addresses when presenting a document for filing.
Fla. Stat. § 605.0206
Additional Legal Considerations
Here are some additional relevant laws that might be useful when operating your business in Florida:
Operating Agreement
Fla. Stat. § 605.0105
Operating agreement–effect on LLC and person becoming member; preformation agreement; other matters involving operating agreement
Fla. Stat. § 605.0106
Operating agreement–effect on third parties and relationship to records effective on behalf of limited liability company
Fla. Stat. § 605.0107
Annual report for department
Fla. Stat. § 605.0212
Certificate of status
Fla. Stat. § 605.0211