The LLC (limited liability company) is the most common way to start a business in Florida: it separates your personal assets from the company's and is simple to maintain. These are the steps, in the order we take them with every client.
1. The name and the Sunbiz filing
The name must be available on Sunbiz, the state business registry, and end in "LLC". The articles of organization cost $125: $100 to file and $25 to designate the registered agent, per the Division of Corporations fee schedule.
2. The registered agent
Every LLC needs a person or company with a physical Florida address to receive official notices. If you live outside the state or the country, this step is not optional.
3. The operating agreement
It is not filed with the state, but it defines who owns what, how profits are split and what happens if a partner leaves. Banks often ask for it.
4. The EIN
It is the company's number with the IRS and you need it for the bank, payroll and taxes. The IRS does not charge for it. With a Social Security number it is obtained online; if the owners are foreign, it is requested with Form SS-4 and takes longer.
5. Bank, licenses and insurance
With the articles, the agreement and the EIN you open the business account. Depending on your activity and city you will need the county and city Local Business Tax, and the insurance your industry requires.
What almost nobody explains
- The annual report is due every year between January 1 and May 1 and costs $138.75. After May 1 it costs $538.75.
- A single-member LLC with a foreign owner has its own IRS information filings even with no sales.
- In the general case the LLC does not pay tax on its own: profits pass to the owners' returns, unless it elects to be taxed as a corporation.
This guide is general information. Your case may be different: book a call and we will review it with you.