Florida Taxes and Fees for Your LLC

Here’s a breakdown of the likely taxes and fees you’ll incur when you start and run an LLC in Florida:

Florida LLC Fees

1. Florida LLC Formation and Filing Fee: A one-off fee of $125 when you first file your Articles of Organization.
2. Florida State Annual Report Fee: A yearly fee of $138.75 when you file your annual report. This must be filed by May 15 every year.
3. Florida Permits and Licenses: Various fees for renewing your licensing and permit fees on a regular basis. These depend on the type of business you are operating and where you are located. They do vary from city to city and industry to industry.

Florida LLC Taxes

• Florida State Tax: Florida does not have a state tax so you will not have to file a Florida state income return or pay Florida state tax.
• Florida Sales and Use Tax: Florida sales and use taxes vary between around 6 percent and 8 percent.
• Other Taxes: You may need to pay other taxes and fees, depending on the type of business you run. Find information on those taxes here.

Federal Taxes

• Self-Employment Tax: You will need to pay self-employment tax (also known as FICA, Social Security or Medicare tax) on your earnings. This is at a rate of 15.3 percent. You will be able to deduct your business expenses from your income when working out how much self-employment tax you owe. Note that if you are an LLC electing to be treated as an S Corp, you can reduce your self-employment tax.
• Federal Income Tax: You will also need to pay regular federal income tax when you file your tax return every year. Note that you will be able to apply your standard deduction, personal exemption and business expenses to this tax.

Ready to Start your Florida LLC?

• Incfile provides a cost-effective service to help you create your Florida LLC. We guide you through the process and handle most of the administrative steps, such as filing the articles of organization on your behalf. Our basic package also provides a free registered agent service for the first year.