This guide will walk you through the process of forming an LLC in Orlando step by step.
1.
Choose A Name For Your LLC
The name must include the phrase “limited liability company” or “LLC.” It cannot be the same as the name of another business entity in Florida.
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2.
File Articles of Incorporation with the Florida Department of State
The Articles of Incorporation must include the LLC’s name and address, the names and addresses of the LLC’s organizers, and the LLC’s duration.
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3.
Appoint a registered agent
The registered agent is responsible for receiving legal documents on behalf of the LLC.
The registered agent must have a physical address in Florida and be available during normal business hours.
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4.
Create an operating agreement
The operating agreement is a document that outlines the LLC’s ownership structure, member roles and responsibilities, and rules for running the LLC. It is not required by law but is highly recommended.
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5.
Get an Employer Identification Number (EIN) from the IRS
An EIN is used to identify your business for tax purposes. You can apply for an EIN online, by fax, or by mail.
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6.
Open a business bank account
Once you have your EIN, you can open a business bank account in your LLC’s name.
This will make it easier to keep your personal and business finances separate.
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7.
Comply with other tax and licensing requirements
Depending on your business activities, you may need to obtain other licenses or permits from state or local authorities in order to operate legally in Florida. You will also need to pay state and federal taxes on your income.
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8.
File annual reports with the Department of State
All Florida LLCs are required to file an annual report every year. The report must be filed by May 1st and includes information such as the names and addresses of the LLC’s members and managers.
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9.
Amend your Articles of Incorporation or Operating Agreement as needed
If there are any changes to your LLC, such as changes in ownership or management, you will need to file amended documents with the Department of State.
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10.
Dissolve your LLC when you no longer need it
When you no longer want or need your LLC, you can dissolve it by filing dissolution documents with the Department of State. Once dissolved, your LLC will no longer exist and cannot conduct business in Florida.
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Forming an LLC in Orlando is relatively simple and straightforward, as long as you follow all of the necessary steps and comply with all applicable laws and regulations.