Perhaps you are hoping to form a Florida LLC. People assume how to start an LLC is difficult and costly. However, it’s generally not difficult, and the cost would vary across states. We have all the info you need to know about the cost of forming an LLC, particularly the LLC cost in Florida.
On this page, you’ll learn about the following:
Florida LLC Cost of Filing
Here are the costs involved in forming an LLC in Florida.
Cost of Filing Formation Certificates
The Florida Certificate of Formation is responsible for the majority of the cost, which could also vary depending on whether you’re forming a domestic LLC or a foreign LLC. Still, you can file both at the Florida Secretary of State.
Florida Domestic LLC
- Online Filing Fee costs $100.00
- Registered Agent Fee $25.00
- Certified Copy (optional) costs $30.00
- Certificate of Status (optional) costs $5.00
- Annual Report Fee costs $138.75
- Fine on late report costs $400
- By Mail: Fill out the application form, and sent it to New Filing Section, Division of Corporations, P.O.Box 6327, Tallahassee, Florida 32314. Costs $125
Florida Foreign LLC
- Online Application Filing Fee $100.00
- Designation of Registered Agent $25.00
- Certified Copy (optional) $30.00
- Certificate of Status $5.00
By Mail: Fill out the application form, and sent it to the Division of Corporations, Registration Section, P.O.Box 6327, Tallahassee, Florida 32314. Costs $125
Note that filing online is ideal, not only because you need to go to the Secretary of State office, but also it would be faster. You won’t have to wait in a queue in doing so.
Florida LLC Formation Service or Registered Agent Fee
You need a registered agent to form an LLC in Florida, hence, added costs for service fees. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
Business Permits and Licenses
The business licenses depend on your business’s activity and location and are renewed yearly. As such, the cost will vary. Check the Florida Department of Revenue for regulatory boards or agencies requiring licensing.
Florida LLC Taxes to be Paid
Florida is a tax-friendly state and provides numerous exemptions and low rates of taxes to business entities conducting their operations in the State.
Personal Income Tax
Florida does not impose any local county income tax on businesses and corporations.
Federal Income Tax
The Federal Income tax in the State of Florida varies between 10% to 39.6%.
State Business Tax
The Corporation income tax in Florida is generally at the rate of 5.5% of federal taxable income.
The State imposes the sales tax at a standard rate of 6%. After the addition of local taxes, the general rate of sales is considered to be 7.01%.
The State imposes a tax at the rate of 0.98% on property.
Cost Comparison Among States
Every state has different costs of filing for an LLC to their respective State Authorities. If you wish to gain a better understanding of the costs of opening an LLC in a different state in comparison to Florida, read the table below:
|State||Filing Fee||Annual Fee/Biennial Fee||Sales Tax|
|Florida LLC||$125||$138.75 (Annual)||6%|
|Georgia LLC||$100||$50 (Annual)||4%|
|Delaware LLC||$90||$300 (Annual)||no sales tax|
|Tennessee LLC||$300||$300 (Annual)||7%|
|North Carolina LLC||$125||$200 (Annual)||4.75%|
Florida’s economy is listed among the world’s largest economies. The five significant sectors in Florida are transportation and utilities, trade, professional business services, education and health services, and hospitality. It is one of the States with a very little tax burden.
- Florida Name Reservation: $35
- Doing Business As (DBA): $50 for online filling or filing by mail
- Certified Document Copies: $30
- Certifificate of Good Standing: $5
- Business Domain Name and Website: depend on your preference, but domain name could be as low as $2.99/yr at NameCheap, and web hosting is at least $30/mo at Kinsta.
- Online workspace: at least $4.20/mo for GSuite.
- Business Insurance: would vary depending on insurance type–whether general liability insurance or professional liability insurance–and coverage.
- Dissolution of Florida LLC: $25
How Much Does It Cost to Maintain an LLC in Florida
To maintain an LLC in Florida you will need to pay an annual fee of $138.75 along with sales tax, state business tax and federal taxes.
The costs to start an LLC in Florida vary depending on the type of business and state you choose to register it. While the registration fees are low, there are other ongoing costs associated with operating an LLC in Florida. Below we will outline the costs to start an LLC in Florida and how to maintain it. In addition, we’ll provide some useful tips for starting a business in Florida. To keep your costs as low as possible, it is a good idea to check with your state’s office or attorney’s office for a fee comparison.
Filing fees are the biggest factor in maintaining an LLC in Florida. The fees for filing articles of organization are one-time and cost $100. You can also pay an additional $25 to hire a registered agent. You may want to check out the full list of fees and how much they cost before making your decision. Once you’ve made your decision, you can choose which option works best for your business. In any case, it will be well worth it to consider all the costs associated with starting and maintaining an LLC in Florida.
Operating agreements are another factor to consider when setting up an LLC in Florida. While they are not required by law, operating agreements help keep your business on the right track and preserve its limited liability status. These documents are also important for future transactions, such as obtaining business licenses. Finally, you’ll need to obtain the “certificate of good standing” or “certificate of organization.” Once your LLC is formed and registered in Florida, you must keep a copy of this document in your business records.
Filing annual reports is another important aspect of maintaining an LLC. The state requires a mailing address and primary business address. Failure to file them can lead to administrative dissolution. And, if you’re not sure what your annual report should be, consider hiring a professional to file them for you. Remember, the more time you spend preparing for an annual report, the more likely you’ll have to deal with legal issues.
To register an LLC in Florida, you should first obtain a fictitious business name. It’s an important step that requires a small fee, but the benefits outweigh the costs. An LLC can operate under many different brand names or product lines. If you decide to use a DBA name, you’ll need to register it with the Florida Division of Corporations. A DBA name will be valid for five years.
An EIN is another important step for establishing an LLC in Florida. The Internal Revenue Service will assign your business an EIN, which is basically a social security number for your business. However, some LLCs don’t need an EIN. However, many banks won’t allow you to open a bank account for your company without it. An EIN will also streamline the process of obtaining credit for your business.
It is possible to form an LLC without professional help, but forms still have associated costs, regardless of where your LLC is formed.
It is difficult to say whether forming an LLC is expensive. Nevertheless, the cost could be anywhere from $40 to $500. If you refuse to hire professionals, you’ll still have expenses like form fees to cover.
The need to separate personal money from business funds, thus necessitating the creation of a business bank account for your LLC.
The cost of Florida is much lower compared to other forms of business. Apart from the state filing fees and annual taxes, you might bear the cost of the registered agent. Compare the price of professional LLC services and choose the most affordable one.