What Is the Price of Forming a Florida LLC?

Florida’s Secretary of State charges a $125 state filing fee to form an LLC. They also charge annual fees to keep that LLC in good standing. That cost is $138.75 payable to the Florida Secretary of State. Each Florida LLC must also appoint a registered agent. If you are not located in Florida, you will be required to have a third party serve as the company’s registered agent, such as a commercial registered agent service. Often it is convenient to have a registered agent, because they can handle the formation agent paperwork for a nominal additional fee and be available to receive service of process if your company is served service of process, such as a summons and complaint or a subpoena.

Initial Costs to Form a Florida LLC

There are a few basic fees associated with forming a Florida LLC:

• $125 Florida State Filing Fee, to file the Articles of Organization
• Fees due to your registered agent to form the LLC and draft the Operating Agreement

Florida LLC Annual Costs

After formation, there are two annual costs to maintain a Florida LLC: an annual report fee and a registered agent payment.

The annual report fee for a Florida LLC is $138.75 (Florida corporations are $150) due annually between January 1st and May 1st. A late fee of $400 is applied by the state if the fee is not paid by May 1st.

The registered agent fee is $99 which is due annually on receipt, but no later than January 1st beginning the year after formation.*

*If a company is formed after July 1st, your registered agent fee includes the remainder of the year and the following year.

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Nevada LLCs may also conduct business in nearly every country. Nevada LLCs that do business in other countries should go on record with those countries through the registration process required in those countries. Frequently, the countries require document legalization or an Apostille if the country has signed the Hague Treaty. Nevada LLCs may not operate in prohibited countries listed with the U.S. Office of Foreign Asset control.

The post Are Nevada LLCs able to do business in other states? appeared first on IncNow.

There are two annual costs or fees associated with keeping a Delaware LLC in “Good Standing”. The first is Delaware Franchise Tax, which is $300 due annually on June 1st. It is first due the calendar year after your LLC is formed. The franchise tax is a flat rate required to keep the entity active in Delaware. Failure to pay on time results in a late fee that accrues interest, and the entity ceases being in Good Standing. Should the entity fall three years behind on the franchise tax the state will void the entity and render it inactive.

The second cost is a Registered Agent (“R.A.”) fee. The IncNow® fee of $109 is due annually on January 1^st. This fee begins the year following the date of formation.* A Registered Agent is required by the state, and failure to maintain one can result in the entity going inactive with the state.

*If an LLC is formed after July 1st, IncNow will waive your Registered Agent fee for the remainder of the year, and the Registered Agent fee you pay upon formation covers the following calendar year.

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The first way is to submit an order to IncNow and we will check the name that business day.

The second way is to call us at 1-800-759-2248 or email agents@incnow.com, where a representative can check the availability of a desired entity name at no charge.

Doing a Delaware LLC Search Online Can Be Misleading

Checking the State of Delaware’s website for availability can be misleading because the business search tool shows former names that are no longer conflicts but does not display some names which may pose conflicts, for example when the corporate ending is different.  An IncNow representative will have additional information to what is available on the state’s website and can use their experience to give you the most accurate information about name availability.

You Don’t Need to Reserve a Name to Search for It

You can use the “name reservation” tool at corp.delaware.gov to confirm availability. However, we do not believe it is usually necessary because it costs $75 and it would be easier and ultimately cheaper to just file the company to see if the name is available.

Delaware LLC Name Requirements

Title 6, Section 18-102 of the Delaware Code sets forth the requirements of LLC names in Delaware. The main requirement is that the name contains “LLC,” “L.L.C.,” or “limited liability company. The section also states that an LLC name may contain the following words: “Company,” “Association,” “Club,” “Foundation,” “Fund,” “Institute,” “Society,” “Union,” “Syndicate,” “Limited” or “Trust”. Beyond those rules, the code does not set forth any further explicit requirements or limitations on LLC names. In general, most names are accepted by Delaware if they are not already taken or directly conflict with another type of entity. However, the Secretary of State will enforce certain policies and departmental rules for naming. Names that could be interpreted as obscene are typically rejected. Company names that contain the names of drugs are also rejected. Beyond those rules, IncNow can provide guidance on whether your proposed name will be approved.

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Can You Help Me Open a Bank Account for My LLC?

If you locate a bank, we can work with you to help you obtain any additional documents required, which may include a Statement of Organizer or EIN. If you need a referral for a specific bank in Delaware, we can also provide referrals. We cannot act as an intermediary because of federal “know your customer” banking laws.

Our customers find that opening a bank account after forming a company with us is normally remarkably easy. We expect opening a bank account for you would be just as easy. You may also consider advantages of opening a Delaware bank account. This can include additional creditor protection based on a Delaware special exception that protects bank accounts from attachment by most types of creditors. Once an account is opened in Delaware, you can use the local branches where you are located for everyday banking and still have the protection of Delaware law. If however you open an account in your home state that state’s laws will apply to the bank account.

The post Do I Need an LLC Bank Account? appeared first on IncNow.

Can You Find the Members of an LLC Online?

No, the members of an LLC cannot be found on its public filings unless the members choose to include them on the Certificate of Formation or other state filings. Delaware only requires an LLC to include the name of the LLC and the name and address of its Delaware Registered Agent on the Certificate of Formation, which will be available to the public. Since Delaware LLCs are not required to file annual reports, the state does not receive owner or manager information on a recurring basis either.

The formation service will designate an authorized person or organizer in the office, who will sign the initial filing document, rather than a member or manager of the LLC. The Registered Agent, such as Agents and Corporations, Inc. (IncNow®), is required to maintain a contact person’s name, address, and phone number, which is available to assist in government investigations and is subject to subpoena in discovery during a pending lawsuit.

When you submit your order to us, the order form information is for our records and will not be part of the incorporation filing (unless you request us to list the member or manager’s name) on the formation document.

In Delaware, the annual franchise tax payment also does not require member or manager information. Delaware only requires a payment to keep the company in Good Standing, not an annual report filing. If you do not want to pay the state directly and provide it your name, address, and credit card number, you can have IncNow pay LLC franchise tax through this page. This way you do not disclose your name or private credit card details to the State of Delaware directly.

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Why Delaware Is Considered the Best State to Form an LLC

Generally, if you want the strongest protection, you should form your LLC in Delaware.

The Delaware LLC is easy to maintain and allows for members to choose how the LLC is taxed.  Delaware’s reputation of protecting business owners from creditors is widely known by businesses of all sizes. Delaware also protects managers from member lawsuits because Delaware protects virtually all business decisions, provided the decision is not self-dealing.

The post What is the Best State to Form an LLC? appeared first on IncNow.

Agents and Corporations (IncNow®) offers this “foreign qualification” service to LLCs in every state and can help you register your Delaware LLC to do business outside Delaware.

The post Are Delaware LLCs Able to do Business in Other States? appeared first on IncNow.

Most states have similar requirements for qualification, such as having a name that is distinguishable from other entities in the state, and providing formation and Good Standing documents from the state of incorporation. Incnow® can provide these documents for Delaware companies.

Other states often have substantial penalties for doing business in their state without qualifying to do business there. This can be avoided by researching the state in question’s definition of business and making sure that your corporation or LLC qualifies if it needs to do so. Because these penalties can be higher than the cost of qualifying to do business, it is wise to qualify in states even if you are unsure that your activities qualify as “business.”

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