We have for closing on a year been experiencing economic and social fallout, all courtesy of the SARS-CoV-19 virus. Thankfully, a vaccine on the horizon, lockdown restrictions are being reduced, and the economy is beginning to strengthen. Now is a better time than ever to start a business, for there is a void in the market with all of the businesses that went out of business due to the first lockdown restrictions being introduced.
In this article, we will answer our titular question: what are four things you must know when setting up an LLC [Limited Liability Company] in the state of Florida.
Here they are:
You Must Locate a Registered Agent
In the state of Florida, it is a requirement that any business operating there [in Florida] must name a registered agent to accept legal, official, and business-related mail for the LLC. This is a fundamental part of creating your own LLC in Florida, and without a registered agent, you will not be able to start your business. It is important to find one quickly, for before long, other businesses will be monopolizing on the void in the market. At the moment, you have an advantage.
You May Have to Obtain a License for Business
In Florida, you may also need to obtain a business license. These business licenses are not hard to come by, and while the application process can be somewhat laborious [to say the least], they are often accepted quite quickly, providing you have met the stated requirements. Some of the businesses that require licenses are architecture, agriculture, real estate, and the healthcare industry. If your business has no interest in any of the previously stated industries, then you can skip onto the next point, for this one is not relevant to you, nor a requirement.
You Will Have to File Your Articles
The next stage in the LLC formation process is to file your articles. This is the most important stage, so it is crucial you give it due diligence and careful consideration. The articles you put forward will officially establish your organization as an LLC in the state of Florida. In Florida, the filing fee is $125.00. These applications take around a week to be processed and filed if done digitally, and if done on paper, a few weeks.
Once your application has been approved, you will be able to download your articles online, print them, and store them. If your articles are rejected, you will be given the chance to correct them and make adjustments and the necessary changes.
An Optional Agreement of Operation
In the state of Florida, LLCs are not required to obtain an operating agreement. With that said, however, business experts recommend that your LLC does obtain one. Operating agreements put into writing your LLC’s operations, daily tasks, and the concept of your business; this can ensure no disagreements occur between shareholders or members of your LLC. Disagreements of this nature are common and can cause a rift in your business. We recommend you obtain an operating license.
With the help of this page, you now know four things about setting up an LLC in the state of Florida. The LLC set-up process differs between states, and this article only applies to Florida. For other states, find help elsewhere, for while the points may be the same as those mentioned here, they may differ in some aspects.