Florida LLC Fees and Annual Reports
The LLC filing fee in Florida is $100, paid once-off to the Florida Division of Corporations. In addition, the registered agent fee is $25, bringing the total filing fee to $125. This is usually the largest cost when forming an LLC.
Foreign LLCs doing business in Florida need to pay a $125 registration fee to the Department of State. Obtaining an Employer Identification Number is free when starting a Florida LLC. This unique number is used for filing taxes, reporting income, and record-keeping.
To remain in good standing, Florida LLCs must file annual reports with the Department of State costing $138.75 for domestic and foreign LLCs. LLC annual reports are due May 1. Late fees are $400 after May 1 and dissolution after the third Friday in September if unpaid.
Benefits and Drawbacks of LLC Structure
The LLC structure allows pass-through profits to owners, avoiding double taxation of company profits and personal income. Benefits include flexibility of taxation, less paperwork than a C-corporation, and liability protection for owners. Drawbacks include annual renewal fees and limits on how members can pay themselves.
LLC Fees and Renewal Process
All Florida LLCs need to pay $138.75 per year for the Florida Annual Report to the Department of State to keep the LLC in good standing. If you hired a Registered Agent service, you’ll have an annual subscription fee to pay each year, usually about $125.
When you form a limited liability company in Florida, you must pay the state filing fee of $125. You may also be required to pay an annual report fee of $138.75. It’s crucial to be aware of all fees and taxes associated with owning and operating a Florida LLC.
Florida LLC Name Approval and Revival
You can make the process for getting your LLC name approved easier by picking an identifiable name that includes required words.
To revive your Florida LLC, you’ll need to submit a completed reinstatement application and pay a $500 reinstatement fee for each revoked year plus a $500 filing fee for each report year due. State licenses are not required unless conducting certain regulated activities.
After approval, create an operating agreement, get an EIN, and meet other business requirements. Renewal cycles for licenses vary, but cosmetology licenses renew on October 31st every 2 years.