Florida LLC Cost
The fee for forming a Florida LLC is $125. You'll also need to pay $138.75 every year to file the state's annual report. These are the two main costs for forming an LLC in Florida, but there will be other expenses you'll need to budget for, such as business insurance, hiring a registered agent, or reserving a name for your business. When starting a new business, it’s important to know what kind of expenditures you’ll have in store. Here we break down the costs of starting an LLC in Florida, beginning with required expenses.
What You’ll Find In This Article:
- Florida LLC Formation Filing Fee: $125
- Florida Annual Report Fee: $138.75
- Florida Registered Agent Fee
- Florida State Business License Fee
- Florida Professional Licensing Fees
- Local Business License Fees in Florida
- Optional LLC Fees in Florida
- Business Insurance Premiums
- Cost to Register a Foreign LLC in Florida?
Florida LLC Formation Filing Fee: $125
Forming a Florida LLC requires you to file Articles of Organization with Florida’s Division of Corporations and pay a$125 fee. However, if you’re interested in forming a Florida Series LLC, which is a unique type of LLC that involves a parent LLC and any number of so-called “child” LLCs, you’ll have to pay more. The filing fee for a Florida Series LLC starts at $125, but will climb as you add “child” LLCs. You can file your articles by mail, in person, or online. Filing your articles officially forms your LLC.
Florida Annual Report Fee: $138.75
All LLCs in Florida need to file an annual report. The report costs $138.75. This is an annual fee, so while it won’t be due immediately, it is a cost you’ll have to add to your budget. Plus, if you file your annual report even one day late, Florida will hit you with a $400 fine. If you have a Florida Series LLC, you’ll need to file an annual report individually for each series LLC you’ve registered in Florida.
Find out how to file your Florida Annual Report.
Florida Registered Agent Fee
Forming an LLC in Florida comes with the legal requirement of appointing a Florida registered agent. Registered agents are responsible for accepting state and legal notices on behalf of the LLC. You can be your own registered agent, you can appoint a friend, family member, or anyone with a street address in Florida.
Many people choose to hire a registered agent service because it ensures that they won’t miss a legal summons or tax document when out of the office. Beyond that, a professional registered agent coupled with an LLC can help business owners live privately. The fees for registered agent services vary. At Northwest, we charge $125 per year for superior registered agent service. Even better, our price never goes up.
Florida State Business License Fee
Businesses that plan to make sales in Florida will in most cases need to register with Florida’s Department of Revenue and obtain a sales and use tax permit, which will allow your business to collect the state sales tax. There is no cost to apply for a permit online. You can also print out and complete your Business Tax Application (DR-1) and mail it in. Mailed applications come with a $5 fee.
Florida Professional Licensing Fees
Florida has two main professional licensing agencies. The first is the Department of Business and Professional Regulation (DBPR), which issues licenses to veterinarians, real estate agents, engineers, architects, certified public accountants, barbers, and many others. Then there’s the Department of Agriculture and Consumer Services (DACS), which is responsible for issuing licenses to agricultural businesses, food establishments, grocery stores, and more. Professional license fees range from $100 to be a barber, to $230 for engineers, and even higher in some cases.
Local Business License Fees in Florida
Licensing and fees don’t end at the state level. In fact, every jurisdiction in Florida will require some sort of business license and accompanying fee, the most common of which is called a Business Tax Receipt. Basically, you’ll need to pay a local tax each year where your business does business. For example, if you have a hardware store in New Smyrna Beach, you’ll need to pay between $6 and $1,250 for a business tax receipt from Volusia County. The amount your business owes is tied to the revenue and size of the business.
Beyond a business tax receipt, your business will also need to pay for licenses and permits to operate a business from home, sell home-churned butter at the local farmer’s market, or even sling Cuban sandwiches from a food cart. Each one of these licenses carries with it a fee. Some are as affordable as $50, but some permits and licenses can reach a few hundred, even a thousand dollars or more.
Optional LLC Fees in Florida
We’ve given you a glimpse of some of the expenses you can expect when starting your LLC in Florida. In some cases, that’s all you’ll need to budget for. However, there are other expenses that might be necessary for your business.
Florida doesn’t have a form for reserving a business name. Instead, you’ll need to submit a letter to the Florida Secretary of State that states your name, address, and the business name you want to reserve. If the name is available, the SOS will reserve it for you for 120 days. The fee to reserve a business name is $25.
DBA (Doing Business as) Name
Florida calls DBAs “fictitious names.” You can obtain a fictitious name for your LLC by submitting an Application for Registration of Fictitious Name online or by mail. There is a $50 fee to register your fictitious name. However, that’s not all. Florida law (FL Stat. § 865.09) says that you’ll need to publish a notice of your fictitious name in a local newspaper at least once before you actually register the name. This newspaper must be located in the same county as your business.
Certified Copies of Business Documents
Running an LLC means that you’ll have a lot of copies of important documents laying around. At some point you may need a certified copy of some of the most important ones. Certified copies of documents for Florida LLCs cost $30, and are generally ready in seven business days. You can order your documents online, by mail, or in person. In-person documents can be expedited, which will cut your wait time by about five days, but they may come with added fees.
Florida Certificate of Status
A Florida Certificate of Status proves to potential investors, banks, loan officers, and other states that your LLC plays by the rules and has filed and paid all taxes and state reports. Commonly called a Certificate of Good Standing or Certificate of Existence, a Florida Certificate of Status costs $5. You can file online, by mail, in person, or by fax.
Here’s how to get a Florida Certificate of Status.
Business Insurance Premiums
LLCs are structured so that they protect the personal assets of their members. However, in many cases you’ll probably still want insurance to protect the actual assets of the business. If you’re running an Etsy store from home, you might feel confident that your customers won’t be suing you. You might even decide business insurance isn’t what you need. But if you own a trucking company or trim trees for a living, you’ll want, and in many cases, be required by Florida to carry some type of insurance.
One of the main types of insurance you’ll need to budget for is workers’ compensation insurance. Employers with four or more employees are required to carry workers’ compensation insurance. Construction employers with one employee and agricultural employers with six or more employees are also required to have coverage for their workers. Florida doesn’t have a state administered workers’ compensation fund, which means you’ll need to get insurance from a private insurer that has been approved by Florida’s Office of Insurance Regulation. Rates range from $1.50 for low-risk businesses to upwards of $9 per $100 of payroll for more risky endeavors like roofing or asbestos removal contractors.
Learn more about LLC Business Insurance.
How much does it cost to register a foreign LLC in Florida?
If your LLC was formed in another jurisdiction but you want to do business in Florida, you’ll need to register as a foreign LLC in Florida. You’ll need to file an Application by Foreign Limited Liability Company for Authorization to Transact Business in Florida with Florida’s Division of Corporations. The cost to register as a foreign LLC in Florida is $125. Beyond the cost to register as a foreign LLC, you’ll need to budget for any Florida business licenses or permits that your business might need.