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LLC Formation and Housekeeping Toolkit (FL)
Practical Law Toolkit w-004-4084 (Approx. 6 pages)
LLC Formation and Housekeeping Toolkit (FL)
by Practical Law Corporate & Securities
| Law stated as of 19 Dec 2023 • Florida |
Core resources to assist in forming, maintaining, and dissolving a Florida limited liability company (LLC). For a comprehensive list of other available resources on this topic, visit the Limited Liability Companies practice area.
Forming a limited liability company (LLC) and maintaining its books and records may seem like simple tasks at first. However, seemingly straightforward formation and drafting decisions can have far-reaching consequences. For example, the organizational documents of an LLC can have a significant effect on members' and managers' exposure to liability and on the relationship between members.
When forming a Florida LLC, organizers must consider, among other things:
- What formalities must be observed and what filings are required, including the payment of filing fees and taxes.
- Whether any foreign qualifications are required.
Maintaining LLC status after formation calls for careful attention to reporting and filing requirements in Florida, as well as certain actions required by Florida law, including proper record keeping.
This Toolkit provides certain key resources to help counsel manage the formation, maintenance, and dissolution of a Florida LLC.
Consider the applicability of reporting requirements under the Corporate Transparency Act (CTA) when forming an LLC or making organizational changes. For more information on the CTA, see Practice Note, Corporate Transparency Act Beneficial Ownership Reporting, Corporate Transparency Act (CTA) Rules and Publications Tracker, and the Corporate Transparency Act (CTA) Toolkit.