Florida LLC Formation Requirements

What are Florida LLC name requirements?

The name of a Florida LLC must be “distinguishable on the record”, meaning that it must not be substantially similar to the name of another LLC, corporation, or other entity registered with the Florida Department of State.

A Florida LLC name must also include "Limited Liability Company," "LLC", or "L.L.C.". (The name for a professional LLC in Florida must include “Professional Limited Liability Company”, “P.L.L.C.”, or “PLLC”.

What is an LLC member vs. manager?

LLCs have the option of being managed by “members” or “managers”. Member is the term used to describe an owner of an LLC. Manager refers to an individual or entity appointed by the members (owners) of an LLC to run day-to-day operations. The following are Florida’s requirements for the members/managers of LLCs:

• Minimum number. LLCs must have one or more members/managers.
• Residence requirements. Florida does not have a provision specifying where members/managers must reside.
• Age requirements. Florida does not have age requirements.
• Inclusion in the articles of organization. Member/Manager names and addresses are required to be listed in the Articles of Organization.

What are the requirements for the Florida LLC Articles of Organization?

The document required to form an LLC in Florida is called the Articles of Organization. The information required in the formation document varies by state. Florida's requirements include:

• Company name and principal office address
• Mailing address (if different from principal office)
• Purpose of the business
• Registered agent
• Manager or authorized representative
• Effective date (if other than the date of filing)

What is a registered agent for an LLC in Florida?

A registered agent is an individual or company that an LLC designates to receive service of process and other legal documents on behalf of the business. To serve as the registered agent for a Florida LLC, the agent must have a physical street address in Florida (no P.O. box addresses) and must be available during normal business hours.

Does Florida allow professional LLCs?

Florida does allow professionals, such as accountants, attorneys and physicians, to form professional limited liability companies (PLLCs)..

Florida LLC tax and fee requirements

After forming a limited liability company (LLC), you must undertake certain ongoing steps to keep your business in compliance. These steps are also important in preserving the limited liability an LLC provides its owner(s).

The following are LLC taxation and filing requirements in Florida:

• Annual report. Florida requires LLCs to file an annual report, which is due on May 1.
• State taxesFlorida corporate income/franchise tax requirements can vary. For example, an LLC classified as a corporation for tax purposes would need to file a Florida corporate income/franchise tax return.
• Federal tax identification number (EIN). An EIN is required for LLCs that will have employees or if they are multi-member LLCs (LLCs with more than one owner). Additionally, most banks require an EIN to open a business bank account.
• State tax identification number. Florida does not require a state tax identification number.