Since you are interested in creating an LLC, then you already know that LLC is an abbreviation for Limited Liability Company. It is not about a corporation or a partnership, which means the owners of such company are neither shareholders nor partners; they are simply “members”. When forming a new business, you are obligated to decide on the structure. The first and most common option is forming an LLC. Many business owners think of this as too costly and time-consuming; nevertheless, neither is the case. First, you must choose a business which is available and also complies with the Florida LLC rules, then file formal paperwork known as organization’s articles and pay the participation fee (the fee in Florida is $125), create an operating agreement in which the responsibilities and rights of each LLC member will be explained, open a bank account for the business as the finances from your business should be separated from your personal bank accounts.
You would most need your specified tax ID number, a copy of the organization’s articles, and a resolution which will identify authorized signers in case the names are not listed in the document. LLCs in Florida file an Annual Report with the Corporations’ Divisions every year (the fee is $139). Although some people tend to hire a lawyer in order to create Florida LLC, if your organization is not complex, you can do all of this by yourself. The benefits of LLC creating include protected assets, heightened credibility, few restrictions, flexible management structure, limited compliance requirements, and pass-through taxation.