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.
Sales Tax
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%.
Property Tax
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.
Other Costs
- 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
F.A.Qs
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.
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.
One of the primary costs associated with maintaining an LLC in Florida is the annual filing fee. Florida requires all LLCs to submit an annual report with the Secretary of State, along with a fee, which can range from $138.75 to $500 depending on the size of the business. Failure to file the annual report can result in penalties and administrative dissolution of the LLC, which can be costly to rectify.
In addition to the annual filing fee, LLC owners in Florida must also consider other ongoing expenses such as registered agent fees. A registered agent is required for every LLC in Florida and serves as the point of contact between the business and the state. Hiring a professional registered agent can cost anywhere from $50 to $300 per year, depending on the services offered.
Another significant expense for LLC owners in Florida is the cost of compliance with state regulations. Florida has strict requirements for LLCs, including maintaining a physical address in the state, keeping accurate financial records, and filing annual tax returns. Business owners may need to hire legal or accounting professionals to ensure compliance, adding to the overall cost of maintaining their LLC.
Furthermore, LLC owners in Florida must also consider the costs of liability insurance. While LLCs offer limited liability protection to their owners, they are still at risk of lawsuits and other legal claims. Purchasing liability insurance can help mitigate these risks, but it comes with a price tag that varies depending on the size and nature of the business.
Overall, the costs of maintaining an LLC in Florida can add up quickly for business owners. It is important for entrepreneurs to carefully budget for these expenses and factor them into their overall financial plan. Failure to adequately budget for ongoing LLC maintenance costs can result in financial hardship and potential business failure.
In conclusion, while setting up an LLC in Florida may be a relatively affordable process, maintaining the business can be costly in the long run. From annual filing fees to registered agent expenses to compliance and insurance costs, LLC owners in Florida must be prepared to invest in the ongoing maintenance of their business. By understanding and budgeting for these expenses, entrepreneurs can help ensure the long-term success and profitability of their LLC.
In Conclusion
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.
Hola quiero saber que nesecito para tener una licencia para arreglar casas , no construir sino remodeler. Gracias
Se necesita tener licencia para regristar una compañia de roofing