Services
FEIN and state ID application
Apply for the federal and state employer tax ID numbers required for opening a business bank account, building a credit profile, hiring employees, and starting payroll.
Business license
Business licenses
My Florida PEO can help identify the license requirements that apply to your business, and provide you with the application forms and where to send them.
Trademark and copyrights
Protect your business name or logo by applying for a trademark, and safeguard your creative work by filing copyright registration.
Corporate Compliance
Get everything you need to help you stay in good standing with state laws and store, access, and manage all your corporate documents from one online location. Special pricing available –contact us for details.
Bylaws
Get help obtaining internal documents necessary to operating your business. My Florida PEOhas customized packages that include corporate bylaws'
S-corporation Filing
Possibly save on taxes by incorporating under& Subchapter S of the IRS code. This allows any income earned to pass through the corporation untaxed, directly to shareholders.
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What are the Advantages of an LLC?
Protect Your Personal Assest
Starting an LLC designates your business as a separate legal entity, preventing you from being personally responsible for the debts of your business.
We Help you with paperwork
We make filing your business quick and painless. Answer a few simple questions about your business and we complete all the required filings.
Build Credibility
Establishing a professional identity provides the benefit of showing potential customers and investors that your business is legitimate and here to stay.
Save Money on Taxes
Set your business up to take advantage of potential tax deductions and savings designed to help your LLC to grow and flourish.
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Frequently Asked Questions about an LLC
What is an LLC ?
An LLC (limited liability company) is one of the most popular entity types chosen by new business owners and start-ups. It's of the easiest entity types to set up and maintain with few annual requirements or ongoing filings.
One of the reasons that forming an LLC has become so popular among small business owners is because it limits your personal liability for the debts of the business, while still being very easy to operate and maintain.
What kinds of businesses typically choose to file as a limited liability company?
Limited liability companies are easy to maintain while remaining extremely flexible, so it's not surprising that it is a popular choice among businesses of all different shapes and sizes. Often, owners of an LLC are self employed or run smaller businesses, where the simplicity of pass through taxation and a lack of annual requirements makes a lot of sense.
Since the profits and losses are reported directly on the owners personal tax returns, filing taxes is much easier.
For businesses in industries like construction or real estate, where unforeseen circumstances and hazardous conditions may hold the owner responsible, consider starting an LLC. The protection gained means you will not be held personally liable, protecting you and your family from litigation or the debts of the business.
An LLC may not be the best choice for business owners who plan on raising capital through outside investment. LLCs are not public structures and do not have shareholders, so taking a company public is not an option either. However, in the event that you'd like to take your business public you may switch to a public legal structure, like a C corporation, later on.
What kinds of businesses typically choose to file as a limited liability company?
Limited liability companies are easy to maintain while remaining extremely flexible, so it's not surprising that it is a popular choice among businesses of all different shapes and sizes. Often, owners of an LLC are self employed or run smaller businesses, where the simplicity of pass through taxation and a lack of annual requirements makes a lot of sense.
Since the profits and losses are reported directly on the owners personal tax returns, filing taxes is much easier.
For businesses in industries like construction or real estate, where unforeseen circumstances and hazardous conditions may hold the owner responsible, consider starting an LLC. The protection gained means you will not be held personally liable, protecting you and your family from litigation or the debts of the business.
An LLC may not be the best choice for business owners who plan on raising capital through outside investment. LLCs are not public structures and do not have shareholders, so taking a company public is not an option either. However, in the event that you'd like to take your business public you may switch to a public legal structure, like a C corporation, later on.
What are the maintenance requirements of an LLC?
LLCs have fewer ongoing requirements compared to their corporation counterparts. For example, an LLC is not required to keep minutes or hold annual meetings. An LLC also does not have a board of directors, and isn't held to the same record keeping standards of a corporation. Keep in mind that the state of incorporation in will have its own set of annual requirements. That includes filing the required business licenses and permits, which vary from state to state.
Be sure to check in with your Secretary of State to ensure you don't accidentally miss any required filings.
Are there tax advantages for LLCs?
Depending on how your business is structured, the amount of revenue your business earns, and several other factors, forming an LLC can provide potential tax benefits for business owners. LLCs are allowed to choose how they want to be taxed, either as an S corporation or C corporation. These options are not available when you are operating as a sole proprietorship.
LLCs don't pay their own taxes directly, the income of the business its passed on to the members of the LLC through "pass through taxation." This means that a member is subject to self-employment taxes, but at higher levels of income, the LLC can often pay a lower base tax rate than a C Corporation. The best way to determine your potential tax benefits is to consult an accountant.
Does an LLC have flexible ownership?
Even though many LLCs only have a single member (owner), the LLC structure itself allows for an unlimited amount of owners. This also gives the power to you, the owner of the business to determine its structure.
