Starting an LLC

If you are thinking of starting an LLC in Florida, you might be wondering what steps you need to take to make it official and how to avoid making mistakes in the process. If that is the case, then this article is for you.

Here is what you need to know:

What Is an LLC and Why Should You Form One?

An LLC is a legal entity that has its own existence separate from its owners, who are called members. An LLC can have one or more members, who can be individuals or other entities. The main benefits of forming an LLC are:

  • Limited liability: This means that the members are not personally responsible for the debts and obligations of the LLC, unless they have personally guaranteed them. This protects your personal assets from creditors and lawsuits.
  • Flexibility of taxation: An LLC can choose how it wants to be taxed by the federal government. It can either be taxed:
    • As a pass-through entity, which means that the profits and losses are reported on the membersā€™ personal income tax returns; or 
    • As a corporation, which means that the LLC pays corporate taxes, and the members pay taxes on their distributions.
  • Less paperwork than a corporation: An LLC does not have to follow the same formalities as a corporation, such as holding annual meetings, keeping minutes, issuing shares, etc. This reduces the administrative burden and costs of running your business.

How to Start an LLC in Florida in 3 Steps

Starting an LLC in Florida is relatively simple and affordable. You can do it yourself online or hire a service to do it for you. However, we recommend that you consult with a qualified attorney before you start, as there may be some legal issues or implications that you are not aware of. 

Here are the three basic steps to start an LLC in Florida:

  1. Choose your LLCā€™s name: Your LLCā€™s name must be unique and distinguishable from any other existing business name in Florida. You can check the availability of your desired name by using the Florida Department of Stateā€™s business entity search engine. Your name must also include the words ā€œlimited liability companyā€ or the abbreviation ā€œLLCā€ or ā€œL.L.C.ā€
  2. Designate a registered agent: A registered agent is a person or a company that agrees to receive legal documents and notices on behalf of your LLC. Your registered agent must have a physical address in Florida and be available during normal business hours.
  3. File your Articles of Organization: This is the document that officially creates your LLC with the state of Florida. You can file it online or by mail with the Division of Corporations. The Articles of Organization must include:
    • The name of your LLC
    • The name and address of your registered agent
    • The names and addresses of your members or managers (if applicable)
    • The effective date of your LLC (if different from the filing date)
    • The signature of an authorized person

Once your Articles of Organization are processed and approved, you will receive a confirmation letter and a certificate of status.

Key Tasks after Creating Your Florida LLC

After you have successfully formed your LLC in Florida, there are some additional tasks that you should complete to ensure that your business runs smoothly and legally. These include:

  • Obtaining an Employer Identification Number (EIN): This is a nine-digit number that identifies your business for tax purposes. You will need an EIN if you plan to hire employees, open a bank account, file taxes, or apply for licenses and permits for your business.
  • Opening a bank account: Having a separate bank account for your business is essential to keep your personal and business finances separate and avoid commingling of funds. To open a bank account for your LLC, you will need your EIN, your Articles of Organization, and your certificate of status.
  • Obtaining licenses and permits: Depending on the type of business you operate and where you are located, you may need to obtain various licenses and permits from federal, state, county, or local authorities. These may include occupational licenses, sales tax permits, zoning permits, health permits, etc.
  • Creating an operating agreement: An operating agreement is a document that outlines the rules and regulations for how your LLC will be managed and operated. It covers topics such as the roles and responsibilities of the members or managers, voting rights and procedures, the distribution of profits and losses, etc. 

Starting an LLC in Florida is Easy When You Work with Experts

Starting an LLC in Florida is not a complicated process; however, it does involve some legal and financial decisions that can have a significant impact on your business. That is why you should not take any risks and hire a professional law firm to assist you. 

At Jurado & Associates, P.A., we have the experience and expertise to help you start your LLC in Florida the right way. If you are ready to start the business of your dreams, do not hesitate to contact us today. You can reach us by phone at (305) 921-0976, by email at [email protected], or by WhatsApp at +1 (305) 921-0976.

Romy Jurado

Business & Immigration Lawyer to Entrepreneurs, Start-ups, Small Business and Foreign Investors. Romy Jurado grew up with the entrepreneurial dream of becoming an attorney and starting her own business. And today, she is living proof that dreams really do come true. As a founder of Jurado & Associates, P.A., a reputable business, real estate, and immigration law firm, Romyā€™s practice is centered primarily around domestic and international business transactions ā€“ with a strong emphasis on corporate formation, stock and asset sales, contract drafting, and business immigration. In 2011, Romy earned her Juris Doctor degree from the Florida International University College of Law. She is fluent in two languages (English and Spanish) and is the proud author of Starting a Business in the US as a Foreigner, an online entrepreneurial guide. Call 305-921-0976 or email [email protected] for a consultation.

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