Florida Company Registration - Limited Liability Company - LLC

Company Type	Time to Incorporate	Cost
Corp / LLC	3 days	£700

There are two structures:

• The Limited Liability Company
• The Corporation

A Limited Liability Company is a business entity combining some of the attributes of a corporation with the status of a partnership.

General Information

Any entity that transacts business in Florida as a limited liability company is required by Florida Statutes to file an application for authorisation with the Division (a State Organisation) and pay the filing fee. If the founders are in doubt about any requirements, it is useful to take professional advice.

All limited liability companies must file a uniform business report with the division each year and pay the filing fee.

Operating Agreement

The company does not have standard company statutes. We supply a company kit with a standard operating agreement which can be adapted and then adopted.

Registration details containing the following information

• The name of the limited liability company, which must end with the words limited liability company or limited company or their abbreviation L.L.C,  LLC  or  LC
• The mailing address and the street address of the principal office of the limited liability company
• The name and Florida street address of the limited liability company's registered agent.  The registered agent must sign and state that he is familiar with and accepts the obligations of the position
• If the limited liability company is to be managed by one or more managers, a statement that the limited liability company is a manager-managed company

When a Corporation would be the best model

• If you are trading in the US, you may be subject to self-employment tax on LLC earnings, which you would not be, if you were trading and earning money through a corporation.
• If you are trading in a number of states, be aware that some states do tax LLCs as companies, even though the Federal government does not
• You may be better off having a Corporation for one-off transactions. Since an LLC is considered a partnership for for Federal Tax purposes, be aware of federal legislation for LLCs. If 50% is sold within a 12-month period, the LLC will crease to be a partnership for federal tax reasons