In Florida, getting your own limited liability company can seem like just the ticket to enjoying life to the fullest. With its ever-changing climate and steadily improving economy, Florida is worth a lot of entrepreneurial attraction. If you're interested in venturing into this new field, then Florida is a great place to start a brand new company heading towards financial independence. Here are some tips on how to get an LLC set up in Florida.
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Most people are aware that Florida requires new businesses to file a fictitious name registration for tax purposes. Filing an abbreviated form called an "infrantial notice" doesn't let you call yourself a LLC in Florida, though. You will need to use an actual Florida corporation that has a s licensed agent. Both types of filings are valid, but they have different requirements to follow.
One important detail that must be in your filing for an LLC in Florida is a complete and accurate list of its creditors. This information is required by both the state and the IRS. The IRS will use this information to make your new business look more legitimate. You will also need to include a complete set of financial documents, including the latest year's income statement and an organizational document for your new business. In addition, you'll have to provide a copy of your operating agreement for the limited liability company.
How to Get an LLC in Florida
Once you meet all the requirements to file for an LLC in Florida, you will have to select a registered agent. Your registered agent will be responsible for receiving any and all returns from your business entity. He or she will also be required to handle any disputes involving your company. If your registered agent doesn't know how to properly fill out the forms, he or she can hire a lawyer to help complete the necessary paperwork. A lawyer will also be able to protect your interests should anything go wrong with the filing process.
You will also need to determine what type of operation your limited liability company will have. Florida, like many other states, allows for "pass-through" taxation. This means that profits will be taxed like regular income and you will not need to pay corporate taxes on them. There are differences, however, when it comes to capital contributions.
Limited liability companies in Florida cannot incorporate as a sole proprietorship. As a result, there are some hoops to jump through if you want to incorporate a business through the state of Florida. A registered agent may be able to help you find the appropriate filings and also help you select a qualified tax consultant for your business formation. You will also need to ensure that the Registered Agent's office receives all of the necessary documents and paperwork in a timely fashion.
Once you know the basic information about how to get an llc in florida, you can start putting the pieces back together. First, you need to select a qualified CPA. The best way to do this is to go to an online tax service and request a free quote for your new business address. Then, use the quote along with your requirement data (i.e. capital investments, owner identification information, business name, etc.)
Next, you will need to complete and file your articles of incorporation. If you already have a business name, you should choose one that can easily be typed into a computer or written on an index card. A good idea for an initial filing is to name both your new LLC and your previous corporation the same. This will help the IRS recognize that you have operated both corporations concurrently. Finally, you will need to file your financial statement and any other tax documents that are required by your state.
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