LLC Formation

If you live in Florida or do business there, form a Florida LLC. That’s the honest answer to Wyoming LLC vs Florida LLC for most people. A Wyoming LLC that operates in Florida still has to register in Florida as a foreign LLC, so you pay both states every year and keep two registered agents,Continue reading “Wyoming LLC vs Florida LLC: Which State Is Better?”

A multi-member LLC in Florida is an LLC with two or more owners, and it’s the most popular structure for small business partnerships in the state. Filing it is the same as for a single-owner LLC: Articles of Organization and a $125 fee. What’s different is everything you have to agree on with your partners:Continue reading “Multi-Member LLC in Florida: Partnership Guide”

If your Florida LLC makes more than about $60,000 to $80,000 a year and you work in it, electing S-corp taxation will probably save you money. Below that, the payroll and accounting costs usually eat the savings. That’s the short answer to Florida LLC vs S-corp, and the rest of this page shows the mathContinue reading “Florida LLC vs S-Corp: Tax Savings Explained”

For most Florida businesses, the LLC is the better choice. In the Florida LLC vs sole proprietorship decision, taxes are usually a wash: a single-member LLC is taxed exactly like a sole proprietorship by default. The real difference is liability. As a sole proprietor, your house, car and savings are on the line for businessContinue reading “Florida LLC vs Sole Proprietorship: Which Is Right for You?”

Florida LLC taxes start with good news: the state has no personal income tax, so your LLC’s profits aren’t taxed at the state level the way they would be in California or New York. That doesn’t mean you owe nothing. You still owe federal income tax and self-employment tax, and depending on what you sellContinue reading “Florida LLC Taxes: Complete Guide to Tax Requirements”

Getting an EIN for your Florida LLC is free, and if you apply online at IRS.gov you get the number in 5-10 minutes. Apply right after Florida approves your Articles of Organization, because the bank will ask for it before it opens your business account. The name is misleading. It’s an “employer” identification number, butContinue reading “EIN for Florida LLC: How to Get Your Tax ID Number”

Florida doesn’t have a statewide general business license. Florida business license requirements depend on where you operate and what you do, so most LLCs need a local business tax receipt from their city or county, plus whatever state or federal licenses their industry calls for. Some LLCs need nothing beyond the local receipt. Others, likeContinue reading “Florida Business License Requirements: What Your LLC Needs”