The Costs of Creating an LLC in Florida

Starting a limited liability company (LLC) in Florida offers many advantages, including personal liability protection and flexibility in management. However, it's important to consider the costs involved in the formation process. In this article, we will explore the various expenses associated with starting an LLC in Florida to help you plan your budget effectively.

  1. Filing Fee for Articles of Organization

To establish an LLC in Florida, you must file Articles of Organization with the Florida Division of Corporations. As of the time of writing, the filing fee for the Articles of Organization is $125. This fee is subject to change, so it is advisable to check the Florida Division of Corporations website for the most up-to-date fee information.

  1. Name Reservation Fee (Optional)

If you want to reserve a specific name for your LLC before filing the Articles of Organization, you can do so by paying a name reservation fee. The fee for reserving a name in Florida is $50. This step is optional but recommended if you want to secure your desired LLC name before others can claim it.

  1. Registered Agent Fee

In Florida, every LLC is required to designate a registered agent who will receive legal and official documents on behalf of the company. You have the option to serve as your own registered agent or hire a professional registered agent service. If you choose to use a registered agent service, their fees typically range from $100 to $300 per year, depending on the provider and the level of services offered.

  1. Annual Report Fee

LLCs in Florida are required to file an annual report with the Florida Division of Corporations. The annual report fee is $138.75. The report must be filed each year by May 1st, regardless of whether the LLC is actively conducting business. Failure to file the report on time may result in late fees or other penalties.

  1. Professional Services (Optional)

While not mandatory, seeking professional services such as legal or accounting assistance can provide valuable guidance throughout the LLC formation process. Attorneys can ensure compliance with state regulations, help draft legal documents, and offer personalized advice. Accounting services may also be necessary to manage financial aspects of your LLC. The fees for these services can vary based on the complexity of your business structure and the rates of the professionals you engage.

Summing Up Florida LLC Creation

Starting an LLC in Florida comes with various costs that should be considered when planning your budget. These include the filing fee for the Articles of Organization, optional fees for name reservation and registered agent services, annual report fees, and potential expenses for professional services. Understanding these costs upfront allows you to budget effectively and ensures a smooth and compliant formation process for your Florida LLC.

It is important to stay informed about current fees and requirements by visiting the Florida Division of Corporations website or consulting with a legal professional. By doing so, you can navigate the process of starting an LLC in Florida while being mindful of the associated costs and obligations.