{"id":9969,"date":"2022-05-31T08:45:00","date_gmt":"2022-05-31T08:45:00","guid":{"rendered":"https:\/\/juradolawfirm.com\/?p=9969"},"modified":"2022-05-31T13:03:08","modified_gmt":"2022-05-31T13:03:08","slug":"how-do-i-sell-my-llc-in-florida","status":"publish","type":"post","link":"https:\/\/juradolawfirm.com\/how-do-i-sell-my-llc-in-florida\/","title":{"rendered":"How Do I Sell My LLC in Florida?\u00a0"},"content":{"rendered":"\n

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In a limited liability company<\/a> (LLC), each owner (referred to as a “member”) has a membership interest in the company. A membership interest refers to each member’s percentage of ownership.\u00a0<\/p>\n\n\n\n

When an LLC is sold, the members of the company must transfer their membership interests to the new owner. In this article, you will discover the steps involved in the sale of a Florida LLC<\/a>.\u00a0<\/p>\n\n\n\n

How Do I Sell My LLC in Florida? – Step-by-Step <\/h2>\n\n\n\n

Reviewing the Operating Agreement  <\/h3>\n\n\n\n

The operating agreement<\/a> is the document that outlines the financial and functional structure of an LLC.\u00a0\u00a0<\/p>\n\n\n\n

The transfer of business ownership often occurs through a buyout or buy-sell procedure specified in the document. If an LLC has no operating agreement, Florida law has statutory rules to conduct the process.  <\/p>\n\n\n\n

Assessing the Value of the Business <\/h3>\n\n\n\n

The next step is to work with an experienced business attorney<\/a> to assess the value of the business. Depending on how the company was formed, the transfer of ownership may occur in distinct ways.\u00a0<\/p>\n\n\n\n

It is possible to transfer ownership<\/a> of a single-member LLC using a bill of sale, selling the owner’s interests for an agreed sales price. Conversely, transferring membership interests in multi-member LLCs may be a more complex task.\u00a0<\/p>\n\n\n\n

For example, LLCs members may create an operating agreement to maintain the business value at a certain amount, or certain members may disagree with the sale based on rights of refusal. <\/p>\n\n\n\n

Negotiation Process <\/h3>\n\n\n\n

Once the members have consulted with an expert attorney to guarantee everything is in place for the sale, they can search for prospective buyers. After filtering the best offer, it is possible to negotiate a price both parties can agree on. <\/p>\n\n\n\n

Members of Florida LLCs tend to look at comparable businesses recently sold in their area to identify the amount paid for them.  <\/p>\n\n\n\n

Upon submitting a Letter of Intent (LOI) with a commitment to buy the company, the buyer may want to proceed with due diligence by examining the company’s books and other similar actions. <\/p>\n\n\n\n

Depending on the situation, the buyer may want to purchase only the LLC’s assets instead of buying the company as a whole. <\/p>\n\n\n\n

Preparing the Paperwork  <\/h3>\n\n\n\n

Once the negotiation is over, it is time to work with a Florida business attorney <\/a>to:\u00a0<\/p>\n\n\n\n