Setting up an llc florida corporation is not as difficult as some may think. However, there are still a few things one needs to be aware of before one can officially file the papers. There are some specific laws that need to be followed in order to set up an LLC. This article will take a look at how to do that.
First, the name of the LLC must be registered with the Florida Corporation Commission. The name must follow a certain format, such as "limited liability company," which will enable the business to be operated under a unique name, among other requirements. The business will then be able to transact business legally. The LLC owner will be the individual who starts the LLC, along with any additional partners or members. Each member of the LLC must have a direct relationship with the other members of the LLC.
Second, the structure of the LLC is the same as that of a corporation. The name cannot be confusing or misleading. The business will have the ability to issue shares and/or stock. It will also have the same types of tax advantages as a corporation.
Is Forming an LLC in Florida Right For Me?
Third, there are rules on when to file for an LLC in Florida. If the business is a sole proprietorship, then the date that the owner files the paperwork with the Florida Corporation Commission is the first day to begin trading. If the business is a partnership, the partnership must file a letter of assignment with the Florida Corporation Commission also on the first day of operations.
Must read - How To Form An Llc In Idaho
Fourth, there are strict guidelines on the type of logo or name that the LLC can use. All LLC names and logos must be distinctive, official, and easy to remember. Additionally, any use of the word "asset" must relate to the assets of the LLC. For example, an LLC could use the name "A.R.C."
Next - How To Check Routing Number On Wells Fargo App
Fifth, there are some specific laws regarding the management and tax status of an LLC. Any type of business can be treated like a sole proprietorship if the individual managing it has more than two months of the year in their house. Also, any type of business can be treated as an LLC if the majority of the shareholders do not have more than two months of their house in the same residence as the business. An LLC can be created for just about any purpose, but if it is to do business in Florida, it must follow all of the above laws.
Must check - How To Login On Myprepaidbalance
Sixth, it is important to understand that creating a LLC in Florida takes about a week and requires the filing of articles with the Florida Corporation Commission. You may receive notification of your filing status a couple days later. If you are planning on using an attorney to help you with your filing, you should give them about three weeks of notice so that they can file all of the appropriate paperwork with the court. There is a fee associated with this service.
Seventh, although there are a few hoops to jump through to get going, opening up an LLC in Florida is actually easy to do. If you know what you are doing, it is a fast process that does not cost a lot of money. Even if you have never done this before, if you learn from someone who has gone through the process before, it can save a lot of time. So, if you are looking to start up your own business, consider incorporating in Florida.
What about the other questions I asked earlier? Yes, I did ask that question too, and I found that the questions I had were mostly about the tax benefits of incorporating. I didn't realize that there are a few other advantages as well. Some states require that you incorporate as a corporation, and some require that you incorporate as a limited liability company (LLC). There are benefits to both, and here are some examples:
o Forming an LLC in Florida allows me to shield my personal assets from my family's bankruptcy in the event of my death. The probate laws allow my family to redeem their inheritance (if it is not bankrupt) by paying my debts and estate taxes. With an LLC, they cannot access my assets until they are paid.
Forming an LLC in Florida also allows me more control over my business. I do not have to hire employees, pay payroll, and I don't have to deal with the daily operations of accounting, marketing, and sales. This has resulted in a significant increase in the number of clients I can handle within a given period of time. Plus, I have more time to spend with my family. Overall, I think it has been worth the added effort to form an LLC in Florida.
Thanks for checking this article, If you want to read more articles about llc florida don't miss our site - Brokengoldatx We try to write our blog bi-weekly