If you are planning to start a business in Florida, you have the option to create a limited liability company (“LLC”) which is a viable option. When establishing an LLC in Florida, it is important to prepare and file Articles of Organization where the LLC is registered to conduct business.
The Articles of Organization state the basic information of your LLC. Your Florida LLC is officially formed once it is accepted and processed. Here’s the thing, if you are an existing business owner or a potential business owner and intend to form an LLC, you must have an understanding of what an Articles of Organization is and why it is so important.
What are Articles of Organization and why are they important?
Articles of Organization provide your company’s details and important information. The documents set out the structure for your business as well as provide the government with the information it needs to properly analyze your company for its needs. One of the most important steps in keeping the business up and running is to submit the articles.
The Articles of Organization include the name of the company, mailing details, and contact information for its members.
Submitting the Articles of Organization
The Florida Department of State Corporations Division manages the incorporation process. For a profit or non-profit corporation, be sure to find the appropriate documents. The state requires you to have a certain amount of information about your incorporation articles.
Many individuals try to file the Articles of Organization themselves as they seem to be simple for them, but due to a variety of common errors and discrepancies, a vast number of documents submitted by non-professionals without the support of a professional attorney are rejected. Articles filed by non-professionals without the assistance of an attorney also risk missing details or violations of other regulations. We cannot stress this enough – take the time to learn the guidelines to get the business set up properly for the first time and seek help from our attorneys at the Finity Law Firm when you are required to file the Articles of Organization.
Filling out the Articles of Organization
For your brief understanding, the following are some of the important information and details which are to be filled out in the Articles of Organization.
The complete name of your LLC must be listed. The name must end with the words: Limited Liability Company, LLC or L.L.C.
You must list the street address of your company’s principal office and mailing address (if different). Your principal business office is the central location of your company, the office where you keep your official company documents and financial records.
Every business entity in the State is required to appoint a Florida registered agent. You must list your registered agent’s name and their physical street address. You cannot list a PO box, or your filing will be rejected.
The names and addresses of each person approved to make management decisions for your LLC are included in this blog. In exchange for ownership percentages, your representatives have given Florida LLC capital contributions, but this does not necessarily mean that they have managerial rights.
The management of your Florida LLC consists of certain people or entities who have been appointed as your company’s managers. For example, an approved member/manager will have the power to vote to ratify a Florida LLC resolution to open your company’s bank accounts.
This is the date is upon which your LLC will officially exist. This is usually the same day that your filing is accepted by the Department of State, but you are allowed to select a future different day. You can choose a day five business days before the day the Department of State receives your filing or up to 90 days after your filing is received.
We have discussed the major articles that need to be filled out in the articles of organizations, however, it is important to consult with an experienced business law attorney.
Consulting an experienced attorney
Since the number of rejections for people trying to file the articles of organization is significantly high, we strongly recommend that you may consult with our experienced attorney at the Finity Law Firm to help you correctly file your articles of organization in accordance with Florida’s requirements.
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