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Florida Limited Liability Company Benefits
 
 

 

The Florida limited liability company is the entity of choice for most persons who are starting a business in Florida.  This is because it was specifically designed to provide the benefits of other legal entities but not have the disadvantages of those same entities.

 

This Article summarizes the major benefits and advantages:

 

Limited Liability Protection

 

The most common reason for forming a Florida LLC for operating a business is to protect its owners from being personally liable for business debts, obligations and lawsuits.   This is the same protection afforded by corporations.  Without the use of an asset protection vehicle, a business is known as a sole proprietorship or general partnership and owners are completely at risk.

 

Business ownership is a wonderful thing that can bring great rewards of financial and time freedom as well as personal satisfaction.  But it is not without risks.  Small business lawsuits are an epidemic in the United States with millions of lawsuits filed every year. 

 

And, as your business becomes more successful, the chances of lawsuits rise dramatically.  Protect yourself from inception by operating through a Fla LLC.

 

 

Tax Benefits and Choices

 

Both the Federal government and the Florida Department of Revenue have granted the limited liability company the best tax status over other entities.  For federal income tax purposes, a Florida LLC by default automatically qualifies for a single layer of taxation.  Profits and losses are passed through to the members and not taxed at the entity level.

 

If for some reason, a corporate tax structure is more beneficial, an LLC can elect corporate taxation so it has more choices and options than any other legal entity.  However, given that Florida has no individual income tax but imposes a corporate state tax, most individual owners of a Florida LLC will opt for the default pass through structure.

 

Simple to Maintain 

 

A Florida LLC is not subject to legally required governance formalities and meetings.  This is a great benefit for the small business which may not need to hold meetings and raise every business decision to a governing body.  Now, it is recommended that every entity including LLCs maintain a minimal level of paperwork to evidence its existence but the same detail of formalities required of other entities is not mandated.

 

Most Flexible Legal Entity

 

The Florida LLC laws allow for the owners of an entity to determine what management structure and operational rules it needs for its particular business.  Because every business can differ significantly and have different requirements imposed on it by owners, investors, banks, customers, and its industry, the flexibility granted to the Fla LLC is a huge benefit.

 

In summary, you can run your business the way you want.

 

Professional Image

 

Having a legal entity as your operating business goes a long way when it comes to business credibility.  The public is very suspect of businesses given the number of scams and fly by night purported business out there.  After all, anyone can call themselves a business without any requirement to form a legal entity.

 

By forming an official business entity like a Florida LLC and representing your business to the public with the LLC designation, your business will be raised to a higher level of trust and credibility.

 

The public understands that an LLC is an official entity which required planning and an official formation process with the State.  This fact reduces any suspicion or doubt about your business' legitimacy.  

 

Continuity of Life

 

An LLC is its own person, separate and apart from its owners.  As a result, an LLC business is not subject to the uncertainties of its owners.  Many sole proprietorship businesses face major obstacles when its owner dies or becomes sick.  The LLC has a continuous life and the laws have mechanisms in place to facilitate business continuity despite the status of its owners.

 

 

 

 

CLICK HERE NOW for more details about our guaranteed 3 Business Day Service for Forming a Florida LLC.

 

 


 

Please note that we are not accountants and tax laws may change often so please seek the advice of your accountant to make sure you fully understand the tax consequences and requirements for your particular LLC situation.

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Fast: Your LLC filing is prepared and filed with Florida within 2 business days as an expedited filing (Total Formation Time 3 Business Days).  You cannot get faster processing at our low price.

Easy: We have perfected the process of a Florida LLC Formation. It only takes 5 Minutes of Your Time after Purchase to Complete a Simple Online Questionnaire. We Handle Everything Else.
Guaranteed: We know and keep up to date with Florida State LLC Requirements. Your Florida limited liability company is guaranteed to meet formation rules + our services are backed with a 100% Satisfaction Guarantee.
 
Disclaimer: The Florida LLC Formation website is operated by The LLC Expert to provide a document preparation and filing service related to the Florida limited liability company.   No information provided on this sites constitute legal advice. A document preparation and filing service is not the substitute for legal advice.  If you need legal or professional advice regarding new business legal entity, tax or other legal matters, please consult with a licensed attorney or accountant.



 

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