How to Create an LLC in Florida
Small business owners, independent contractors, or entrepreneurs with significant risks, may choose to create an LLC to provide extra protection from liability. LLC registration separates a person’s individual assets from their business, protecting their personal assets. In the eyes of the state, the LLC becomes an autonomous identity that can own its own property, money and agreements separate from the business owner. An LLC allows for limited liability, simple startup, and avoids corporate-level taxes.
How to Form an LLC
To file an LLC in Florida, there are a few requisites you must satisfy. First and foremost, one must decide a name for their LLC in compliance with Florida naming laws. These laws require each business name to end in an indication that it is a limited liability company (LLC or L.L.C.). Additionally, the laws exclude any names that could confuse the business with a government entity such as “state” or “department.” Finally, some keywords including “bank” or “law” may require proof of a license. To ensure that all LLC names are compliant with these naming laws and that the name is actually available, it is important to inquire with a professional attorney before beginning the LLC application form.
Once the LLC has an official name, the owner must determine whether or not they will outsource a company to serve as their registered agent or if they will handle the taxes, important documents, lawsuit notices, or government correspondence. Outsourcing the duties relieves the owner of many tasks, and the case-by-case nature of LLC business registration makes a professional opinion incredibly valuable.
With a registered agent in place, the owner may begin setting up an LLC. In Florida, the filer must fill out Form LLC-1 - Articles of Organization either by mail or online with a $125 fee payable to the Florida Department of State. Once this step is completed and approved, the LLC may begin operation. At The Saade Law, P.A., we highly advise creating a company agreement to assist in the effective and transparent management of an LLC. This comprehensive document outlines ownership, member-operated versus manager-operated status, and all terms and conditions of operations to ensure each member agrees on all matters concerning the new LLC. Our experienced attorneys thoroughly understand how to generate legal, fair, and binding agreements that help prevent or resolve future conflicts.
How an Attorney Can Help
Registering an LLC can be exciting, however, it is important that you do not rush the process. It is advised to seek legal advice every step of the way, especially when multiple people are involved. Our Miami-based law firm has the experience and knowledge to ensure a smooth, legal transition to an LLC status and provide trusted legal advice. Therefore, the LLC’s members can focus on their business while The Saade Law, P.A. handles the backend agreements and legalities of applying and creating the formation and operating documents for an LLC.