Llc Operating Agreement Florida With S Corp Election
Description
How to fill out Florida Limited Liability Company LLC Operating Agreement?
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FAQ
The laws in Florida don't require an LLC to use an Operating Agreement. Instead, the owners of the LLC can operate the business as they choose, as long as they follow the requirements and limitations of business laws in the state.
A properly drafted Florida LLC operating agreement should include: The names of the LLC members. The members' duties to contribute money or services to the LLC. The members' economic interest in LLC property and profit. Provisions for the distributions to members of LLC profit.
Step 1: Name Your Florida LLC. ... Step 2: Choose a Registered Agent. ... Step 3: File the Florida Articles of Organization. ... Step 4: Create an Operating Agreement. ... Step 5: File Form 2553 to Elect Florida S Corp Tax Designation.
Florida doesn't require that you have an Operating Agreement for your Limited Liability Company (LLC), but it is recommended that you have one. When setting up your company, it's beneficial to seek legal advice from a Florida LLC Business litigation attorney.
An S corporation is simply a Florida corporation that has elected a special tax status. Most Florida businesses elect S corporation status when filing. S corporation status permits the income of the corporation to be passed through to the shareholders.