7 Simple Steps
To secure and register your brand name it must be unique, not too similar to another registered name, and shouldn’t contain any restricted wording. To check, conduct a Business Entity Search through the state.
Keep in mind your LLC name should contain the words ‘Limited Liability Company’ or ‘Limited Company’. Abbreviations for these words like ‘L.C.’ or ‘L.L.C’ are also acceptable. Also, because there is no name reservation offered by the state, only register your name when you’re ready to organize your business.
A Registered Agent is an intermediary, responsible for receiving and helping you to handle/process all official documentation like state filings, tax forms, legal notices, and so on. This agent can be an individual or a corporate entity, but they need to be a Florida resident (with FL address, non-P.O. Box) and be able to legally conduct business in the state.
You can hire an outside professional service and pay up to $160/year, or get a Florida Registered Agent free of charge when you start your LLC with a service like IncFile or CorpNet. They handle this along with so much more depending on your startup package.
This document seals the deal with the state in as much as it is a declaration of your brand, who owns it, how it’s structured, and so forth. The basics of your business for the public record books.
Head on over to the Division of Corporations and get in touch with them, or download the Florida Articles of Organization directly and fill them out. Read the instructions and ensure everything is 100% correct before filing!
Filing Fee: $125.00
Your EIN, or Employer Identification Number, is a unique identifier like a personal social security number. But it’s not just for tax season, it also makes it possible to legally hire employees and set up a business bank account in the next step.
Almost every transaction your business engages in will require an EIN. That said, you can get one quickly, easily and free of charge by applying online through the IRS Website.
To avoid any tax, asset, or financial confusion as an LLC, open a separate checking account for your brand that isn’t mixed with any other account of any kind. This is a huge mistake entrepreneurs make that’s 100% avoidable. Plus, these days there are tons of perks to opening business bank accounts. In fact, some banks will literally pay you to do business with them!
Shop around at both state and national banks to see who offers the best deal and most convenience. For a brief breakdown on some of our favorite options check out this short Checking Account Guide.
This is a document that our readers, plenty of experts, and ourselves advise you think about creating. It’s not mandatory or a legal requirement, but what it does is add a layer of safety for everyone involved (including the company) and lays out duties/responsibilities. It also, “defines each member or manager’s rights, powers, and entitlements. This includes capital accounts, membership interest, distributions of profit and allocated tax responsibility, etc.”
To get started, consider using a nifty Operating Agreement Template which you can customize yourself online.
How complex the “red tape part” gets depends on the nature of your business, whether you work with or serve the public, how many employees you have, location, etc. It could be swift and simple. Once you’re through these woods it’s easy sailing!
To get started bookmark the Miami district office of the Small Business Administration, and the Division of Corporation’s Sun Biz website because they’re likely going to be go-to sources for a variety of things along the way. If you need help, consider leveraging professional Business License Research packages that quickly source all documents for you.
If you’d like help forming an LLC in Florida, feel free to read our reviews of the two most popular services available.