How Much Does an LLC Cost in Florida? (FL Annual Fees 2024)

Starting an LLC in Florida involves an initial cost of $125, which covers the state filing fee, and an annual report fee of $138.75, which must be paid yearly to keep your LLC in good standing. This makes Florida relatively affordable compared to other states, but it’s important to understand the full picture when budgeting for your new business.
But there’s more.
In addition to the initial filing fee, you may encounter other costs, such as name reservation, certificate or status, and hiring a registered agent, which is mandatory in Florida and may add to your expenses.
Navigating these fees will help you prepare better and avoid surprises.
Keep reading to uncover everything you need about the costs and fees of starting an LLC in Florida.
How Much Does an LLC Cost in Florida?
Starting an LLC in Florida requires several fees, but the most important fee for new business owners is $125.
This fee covers:
- Florida LLC Filing Fee: The main cost is $100 for the Articles of Organization, which are essential to creating your LLC officially.
- Registered Agent Fee: You must designate a registered agent. This fee is $25 and is necessary whether you do it yourself or hire someone.
There is a $25 name reservation fee to reserve your LLC name before filing. This step is optional but can help ensure your desired name isn’t taken.
Once your LLC is established, you may want a Certificate of Status. This costs around $5 and shows your LLC is active and in good standing.
These fees represent the basic costs of forming your LLC in Florida, ensuring you meet legal requirements while starting your business.
LLC Costs in Florida (Formation Fees)
Below is a table listing the Florida LLC requirements and their associated costs:
Florida LLC Requirements | Cost |
---|---|
LLC Name Search | $0 |
Articles of Organization fee | $100 |
Florida Registered Agent Fee | $25 |
Operating Agreement | $0 (with Northwest) |
EIN Number | $0 (free from IRS) |
Florida Annual Report fee | $138.75/yearly |
LLC Name Reservation (optional) | $25 |
Certificate of Status (optional) | $5 |
Foreign LLC Registration (optional) | $125 |
Florida Fictitious Name (DBA) (optional) | $50 |
Taxes | Varies |
State Business License Fee | Varies |
Registered agent services | $0-$125 (Northwest) |
LLC formation service | $39 |
Total LLC Costs in Florida | $263.75 – $517.75 |
The total cost to set up an LLC in Florida can range from $263.75 to $517.75, depending on your options. If you do everything yourself and skip the optional extras, you might only spend around $263.75. But if you decide to pay for additional services and requirements, your costs could go up to between $400 and $500.
As a reminder, below are the things you must bear in mind:
First, an LLC name search is free and helps you ensure that the name you want is available. Filing the Articles of Organization is a must to form your LLC officially, and it will cost you $100. Then, you’ll need to pay a mandatory registered agent fee of $25, which you pay alongside the Articles of Organization fee, totaling $125.
You might also consider an Operating Agreement outlining how your LLC will be managed. This is optional, and it is free!
Getting an EIN Number is free and necessary for tax purposes and if you plan to hire employees. Each year, you’ll need to file an Annual Report to keep your LLC active, which costs $138.75.
After searching your Florida LLC name and finding it available, you can reserve it for 120 days. This option costs $25. A Certificate of Status, which shows your Florida LLC is in good standing, is also optional and costs $5.
If your LLC was formed in another state but operates in Florida, you must register as a Florida Foreign LLC, which costs $125. If you plan to do business under a different name, a Florida Fictitious Name (DBA) is optional and costs $50.
Taxes are required and will vary based on what your business does.
Lastly, depending on your industry, you might need a State Business License, and the fee for that can vary.
Now, that’s how much it costs to form a new LLC in Florida. If you’re still interested in learning more about these requirements, keep reading as I explore them below.
Florida LLC Business Name Search Cost ($0)
Before you start your LLC, you need a business name. In Florida, conducting a business name search is free. You can check the availability of the name on the Florida Department of State’s website.
Here’s how to do it:
- Visit the Florida Division of Corporations page.
- Use the name search tool provided.
- Enter your desired LLC name to see if it’s available.
Make sure your name is unique and not similar to existing businesses. This step helps you avoid legal issues later on.
You must choose a different option if the name you want is taken. Consider variations or keywords that highlight your business.
Once you find an available name, you can proceed with your LLC formation process. Always remember that securing your name early is a smart strategy for your business planning.
Florida LLC Articles of Organization Cost ($125)
You must file the Articles of Organization to start your LLC in Florida. This document is crucial because it officially establishes your LLC. The state filing fee for the Articles of Organization is $125, which covers the Florida filing fee and the registered agent fee.
This is a one-time payment made to the Florida Division of Corporations, ensuring that your LLC is recognized as a legal entity within the state.
You can pay this fee online or by mail using a valid form of payment.
The Florida LLC processing time can vary. Online submissions typically get approved faster, often within a few days. Mail submissions may take longer, so plan accordingly if you need your LLC established by a specific date.
LLC Operating Agreement Cost in Florida ($0)
You do not have to pay a fee to create an LLC Operating Agreement in Florida. The state does not require this document, but it is highly recommended.
An Operating Agreement serves several purposes:
- Ownership Structure: It outlines who owns the company and the percentage of ownership each member holds.
- Management: It specifies how the LLC will be managed and the roles of each member. This includes detailing whether the LLC will be member-managed or manager-managed and defining the responsibilities of each role.
- Profit Distribution details how profits and losses will be shared among members.
- Decision-Making: It establishes the procedures for making important business decisions, including voting rights and the process for resolving disagreements among members.
- Member Changes: It outlines the process for adding or removing members and what happens if a member wants to sell their interest or passes away.
- Dissolution: It provides guidelines for the dissolution of the LLC if the members decide to close the business.
While you can draft this agreement yourself, many consult a lawyer. Legal assistance might add costs, but it ensures that your agreement complies with laws and protects your interests.
You can go online and search for Operating Agreement templates. There are lots of websites where you can download these templates for free. Just make sure you review and customize the template to fit your specific business needs and legal requirements.
Florida Registered Agent Fee ($0-$300/year)
When starting your LLC in Florida, you’ll need a registered agent. The Florida state law requires this. This person or service is responsible for receiving important legal documents and mail for your business, ensuring you don’t miss any critical notices.
The fees for a Florida registered agent can vary greatly depending on your choice.
If you decide to be your registered agent, there’s no fee, which can save you some money. However, many people prefer to use professional registered agent services, which cost around $300 annually.
For example, LegalZoom charges about $249 annually, while ZenBusiness offers its services for $199 a year. Northwest Registered Agent offers a great deal: They offer their services free for the first year if you hire them to form your LLC. After that, it’s $125 annually, which is still a pretty good deal compared to others.
Choosing to be your own registered agent can save you money, but remember you need to meet state requirements, like being a Florida resident or having a business address in the state. On the flip side, using a professional service like Northwest can help keep your personal address private, which is really helpful if you run your business from home.
Hiring a registered agent service is a good idea if you don’t have an address in Florida since the state requires registered agents to have a physical address there.
Plus, if you want to keep your address off public records, some companies let you use their address instead, which can help maintain your privacy.
EIN Cost in Florida ($0 from the IRS website)
Applying for an Employer Identification Number (EIN) in Florida is free. You can obtain your EIN directly from the IRS website at no cost, and no hidden fees are involved.
To apply for an EIN, visit the IRS official website. Once there, fill out the online EIN application form. After completing the form, simply submit it online. The process is straightforward and doesn’t take much time.
Florida Annual Report Fee ($138.75/annually)
If you have an LLC in Florida, you must file an annual report every year. The fee is $138.75, due between January 1st and May 1st.
The annual report keeps your LLC in good standing with the state. It updates or confirms your LLC’s information, such as the names and addresses of members or managers, and ensures that the state has the most current information about your business.
Here are some important points to keep in mind:
- Deadline and Late Fee: If you fail to file by May 1st, a late fee of $400 applies, bringing your total cost to $538.75 for that year. Missing this deadline can also lead to your LLC being administratively dissolved, which can cause significant disruptions to your business operations.
- Submission: You can submit the annual report online through the Florida Division of Corporations’ website. The online process is straightforward, allowing you to update your LLC’s information and pay the fee quickly.
Fictitious Name/DBA Cost in Florida ($50)
You don’t have to get a DBA (Doing Business As) for your LLC in Florida, but it can be really useful in certain situations.
If you plan to do business under a name other than your LLC’s legal name, you’ll need to register a fictitious name, also known as a DBA. The registration fee for this is $50.
Here’s what you need to know about the costs:
- Registration Fee: $50
- Certified Copy: If you want a certified copy of your registration, it costs $30.
- Certificate of Status: A Certificate of Status for your fictitious name registration is available for $10.
You have a few options for filing your DBA in Florida.
One convenient way is to complete the process online using the SunBiz Fictitious Name Portal and pay with a credit card.
If you prefer, you can also file by mail by completing a fillable PDF form and sending it along with your payment. Lastly, you can file in person by printing a PDF form, filling it out by hand, and submitting it directly to the appropriate office.
LLC Name Reservation Fee ($25)
Securing your business name is an important step when starting an LLC in Florida. The name reservation fee is $25.
This fee allows you to reserve your name for up to 120 days. It ensures that no one else can use the name during this period.
To complete the name reservation, submit a form to the Florida Department of State. For convenience, this can often be done online.
Paying the name reservation fee is optional. If you’re confident your desired name is available, you may proceed directly with your LLC filing without reserving it first.
Certificate of Status Cost in Florida ($5)
Obtaining a Certificate of Status for your LLC will cost you $5 in Florida. This certificate shows that your business is legally registered and compliant with state requirements.
This document may be needed when opening a bank account or applying for loans.
Florida Foreign LLC Registration Fee ($125)
If you want to register a foreign LLC in Florida, you need to pay a registration fee of $125. This fee allows your business, formed outside of Florida, to operate legally within the state.
Here are the basic steps to follow:
First, check the Florida Division of Corporations website to ensure your desired LLC name is available.
Next, appoint a registered agent in Florida to handle legal documents for your foreign LLC. Once these steps are complete, complete the registration form and submit it along with the $125 fee to the Florida Division of Corporations.
In addition to these steps, you’ll need to provide information about your LLC’s formation state and other basic details.
Florida State Business License Fee ($0 but varies by industry and locality)
The basic cost for an annual business license in Florida can be $0. However, this can vary significantly based on your industry and location.
Different counties and cities set their fees. Here are some key points to consider:
- Local Fees: Many local governments charge fees ranging from $15 to several hundred.
- Business Type: Certain industries, like restaurants and retail, may have higher fees due to additional regulations.
- Permit Requirements: Some businesses need special permits, which can add to the overall cost.
To ensure your business complies with all licensing requirements and stays updated on any changes, it’s important to consult agency resources and state and local government guidelines. For a clearer understanding of potential fees, it’s also helpful to check with your specific city or county.
Florida LLC Taxes (varies)
When owning an LLC in Florida, you must be aware of several taxes that may apply to your business. Here’s a breakdown of those taxes:
- Federal Taxes: LLCs are pass-through entities. This means profits are taxed on your tax return.
- State Income Tax: Florida does not have a state income tax, which can benefit your LLC.
- Local Income Tax: Some local governments may impose taxes depending on your location.
- Business Taxes: Your LLC may be subject to various business-related taxes based on what it does.
- Self-Employment Tax: As a member of an LLC, you may owe self-employment tax on your earnings.
- Sales and Use Tax: If your LLC sells goods or services, you must collect sales tax from customers.
- Payroll Tax: If you hire employees, you must handle payroll taxes.
- Property Tax: If your LLC owns property, it will be subject to property taxes.
Florida does not levy franchise or entity taxes on LLCs. This means the profits from your LLC go directly to you, and you are responsible for federal income tax on those earnings.
Florida LLC Reinstatement Fee ($100)
If your LLC in Florida has been dissolved, you can reinstate it for a fee of $100. This is the base fee required to file a reinstatement application.
In addition to the reinstatement fee, you must pay for any overdue annual reports. The cost for each annual report is $138.75. This fee applies for each or part of your LLC’s inactive year.
Remember that even if your LLC has been dissolved for just a few months, you are still responsible for the annual report fees for inactive years.
Florida LLC dissolution fee ($25)
When you decide to dissolve your LLC in Florida, there is a filing fee of $25. This fee must be paid when you submit the Articles of Dissolution to the Florida Department of State.
You must fill out and submit the Articles of Dissolution. This document officially ends your LLC’s existence.
After submitting, you will receive a letter of acknowledgment and a certificate of dissolution from the state.
Remember, this fee is just for the dissolution process. You may have other expenses related to closing your business, such as taxes or debts.
Florida LLC amendment fee ($25)
If you need to change information in your Florida LLC’s original filing, you can do so by filing a Certificate of Amendment. This process requires a fee of $25.
Here are some common reasons you might need to file an amendment:
- Change of your LLC’s name
- Change of business address
- Change of registered agent
- Changes to the management structure
Florida LLC Change of Registered Agent fee ($25)
If you need to change your registered agent in Florida, there is a $25 fee. This is a common step for many business owners as their needs evolve.
You may want to change your registered agent for several reasons. If you relocate your business, your current agent might no longer be valid. You might also find a registered agent with better services or pricing. Personal reasons, such as wanting to keep your home address private, can prompt you to change.
Florida LLC Annual Report Late Fee
If you do not file your Florida LLC annual report by May 1, you will face a late fee of $400. This fee significantly increases your total filing cost.
Here’s a breakdown of the costs:
- Annual Report Fee: $138.75
- Late Fee: $400
- Total if late: $538.75
If you submit your report on time, this late fee can be avoided. The Florida Division of Corporations strictly enforces this deadline.
If your report is received after the deadline, you will owe the full amount. If you let your LLC go into administrative dissolution, you can reinstate it later for less.
What is the Cheapest Way to Start a Florida LLC?
If you’re looking to start an LLC in Florida on a budget, you’ve got a few options to consider.
First up, you can go the DIY route and file everything online yourself.
Head to the Florida Division of Corporations website and complete the necessary documents. The filing fee for the Articles of Organization is $125. This is the cheapest way to get your LLC up and running because you won’t have to pay any extra service or attorney fees.
Another option is to use an online/professional service.
There are plenty of companies out there that will handle the LLC formation for you, but they do charge a fee. Typically, you’ll be looking at an additional $50 to $200 on top of the state filing fee. While this is more expensive than doing it yourself, it can save you some hassle.
Another method is hiring an attorney. Legal fees can vary, but they usually start around $500. This is the priciest option, but it comes with the peace of mind that all the legal details are covered. But I wouldn’t recommend it.
So, what’s the cheapest way to start your LLC in Florida? Doing it yourself. You’ll pay the $125 state filing fee, and that’s it! This method keeps costs low and ensures you’re handling the registration process correctly. However, there are a few downsides.
However, going the DIY route can be time-consuming since you’ll need to complete forms and double-check everything for accuracy. Plus, without professional guidance, you might miss some important steps.
And let’s not forget the potential for errors, which could lead to delays or rejections.
Should You Use an LLC Formation Service in Florida? (here’s why)
When starting an LLC in Florida, you might wonder if using a formation service is worth it. Here are some points to consider.
- Expert Guidance:
When forming an LLC, having access to expert guidance can make a significant difference. With services like Northwest Registered Agent, you benefit from their extensive knowledge in LLC formation.
As far as I know, their team is well-versed in the nuances of Florida’s business regulations and can answer your questions, helping you navigate the process smoothly. For instance, if you’re unsure about the required documents or the best practices for your LLC, Northwest can provide clarity and ensure you make informed decisions.
- Privacy Benefits:
One key advantage of using a formation service is the enhanced privacy protection it offers. Services like Northwest Registered Agent use their address as your LLC’s registered office address, which means your address isn’t publicly listed in state records.
This helps shield your personal information from public view and reduces the risk of unwanted solicitations or privacy breaches.
- Stay Compliant:
Maintaining compliance with state requirements is crucial for the smooth operation of your LLC. Formation services often offer compliance assistance, including reminders for important deadlines and annual filings.
For example, Northwest Registered Agent and Harbor Compliance provide ongoing compliance support, ensuring that you stay on top of required reports and renewals, which helps you avoid potential penalties or legal issues.
Peace of Mind: Handling LLC formation paperwork correctly can be stressful. With LLC formation services, you can know that all necessary paperwork is completed accurately and submitted on time.
- No Headaches About Paperwork:
One of the most significant benefits of a formation service is the relief from paperwork headaches. They literally take care of the entire filing process for you. This means you don’t have to spend time navigating state forms, tracking down information, or worrying about deadlines.
Frequently Asked Questions
How much does opening and filing an LLC in Florida cost?
The cost to open an LLC in Florida is $125. This includes a $100 filing fee and a $25 fee to designate a registered agent. When you submit the Articles of Organization to the Florida Division of Corporations, these fees are required.
Is there a recurring annual fee for maintaining a new LLC in Florida?
Yes, there is an annual fee for maintaining your LLC in Florida. You must file an annual report that costs $138.75. This report is due each year between January 1 and May 1.
What is the process to set up an LLC in Florida?
To set up an LLC in Florida, you must file the Articles of Organization with the Florida Division of Corporations. You must also choose a registered agent and provide their information in the filing. After this, you may need to create an Operating Agreement for your LLC.
Should I hire an LLC formation service in Florida?
Hiring an LLC formation service can simplify the process. They can help ensure that all paperwork is completed correctly and submitted on time. While this service comes with additional fees, many find it worth it for peace of mind.
Do I need to hire an attorney to form an LLC in Florida?
You do not need to hire an attorney to form an LLC in Florida. However, consulting with an attorney can be beneficial if your situation is complex or you have questions. They can provide guidance specific to your business needs.
What Are The Ongoing LLC Operational Costs in Florida?
In Florida, an LLC’s ongoing costs include a $138.75 annual report fee, registered agent fees from $50 to $300, and various business license renewal fees. While there’s no state income tax, federal and local taxes apply. Additional costs may include legal fees for operating agreement updates and miscellaneous expenses like accounting services.
Are there any additional costs associated with renewing an LLC in Florida?
In addition to the annual report fee of $138.75, you may incur costs related to updating your registered agent or changing your LLC’s structure. These changes can have additional fees ranging from $25 to $85.
Can you establish an LLC in Florida at no cost?
Unfortunately, you cannot establish an LLC in Florida at no cost. The minimum fee to start an LLC is $125, which covers necessary filings. There are ongoing fees associated with maintaining your LLC, including annual reports.
What are the annual requirements for an LLC in Florida?
Annual requirements include filing an annual report and paying the associated fee of $138.75. This report updates your LLC’s information with the state and keeps your business in good standing.
Are there penalties for paying my fees late in Florida?
Yes, there are penalties for late payments in Florida. If you do not file your annual report by the May 1 deadline, you will incur a late fee of $400. Your LLC may also risk being dissolved if fees are unpaid for an extended period.
How much does it cost to reinstate an LLC in Florida?
If your LLC is dissolved due to non-payment, you will face a reinstatement fee of $300. You must also pay any outstanding fees and possibly penalties to bring your LLC back into good standing.
How much does it cost to dissolve an LLC in Florida?
To dissolve an LLC in Florida, you must file Articles of Dissolution, which costs $25. This filing formally ends your LLC’s existence and helps prevent future fees or liabilities.
Is Florida an excellent state to start an LLC?
Many consider Florida a great state for starting an LLC due to its favorable tax environment and business-friendly regulations. The state has no personal income tax, which can benefit business owners.
What happens if I do not file my Florida LLC annual report?
Your LLC may face penalties if you do not file your annual report. After some time, your LLC could be administratively dissolved. This means you would lose your legal protections and may incur costs to reinstate your business.
How long does it take to get my LLC approved in Florida?
Once you submit your filing, it typically takes 2-5 business days for your LLC to be approved in Florida.
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