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Old 01-08-2010, 10:43 PM   #1
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Question Anybody familiar with Florida LLC/Tax rules?

I do not live in Florida, so I have no idea.

If I have a basic LLC, Other than Federal and Self-Employment tax... does Florida induce any other sort of Business tax?

For example, in my state, a basic LLC gets federal and self-employment tax, but if I generate over 82k in revenue, they charge an additional 7.5%.

Thanks!
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Old 01-08-2010, 10:50 PM   #2
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A FL single member LLC pays no State taxes. I'm pretty sure you do not even have to file a State tax return. If the LLC has a corporate owner, then it's different.

If you are sole owner, then the only fees you're looking at is formation and I believe a small annual fee to remain in good standing.

Obviously, all activity of the LLC passes through to you personally so you'll owe State taxes to your State.. assuming they have them.
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Old 01-08-2010, 11:00 PM   #3
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A FL single member LLC pays no State taxes. I'm pretty sure you do not even have to file a State tax return. If the LLC has a corporate owner, then it's different.

If you are sole owner, then the only fees you're looking at is formation and I believe a small annual fee to remain in good standing.

Obviously, all activity of the LLC passes through to you personally so you'll owe State taxes to your State.. assuming they have them.

I will have to contact a CPA obviously, but in my state (my numbers were wrong above, good thing I don't do my taxes) but if you generate over 50,000 in revenue, they tax you 8.5%, they are looking to increase it to 13.5% AND make it retroactive to Jan. 1st, 2009. Fucking fuck. Live free or die, my ass, NH is the new Massachusetts. My business is moving!
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Old 01-08-2010, 11:06 PM   #4
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It would be between DE, NV, WY or FL. Ask your CPA which he recommends. WY is good because you can use a nominee owner.. if anonymity appeals to you.

There are services there which will move your LLC, give you a registered agent and a local mailing address and phone number.. for $600 or so total.
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Old 01-08-2010, 11:49 PM   #5
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One word, accountant.

Don't take anybody's advice here. Contact a local, reputable accountant and listen to them. If something smells fishy, contact a second, reputable accountant and go with your GUT feeling, not what sounds best.
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Old 01-09-2010, 12:22 AM   #6
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One word, accountant.

Don't take anybody's advice here. Contact a local, reputable accountant and listen to them. If something smells fishy, contact a second, reputable accountant and go with your GUT feeling, not what sounds best.
I know that. I already own an LLC... I am looking to move said LLC. Just casually looking for others input first.
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Old 01-09-2010, 02:55 PM   #7
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I will have to contact a CPA obviously, but in my state (my numbers were wrong above, good thing I don't do my taxes) but if you generate over 50,000 in revenue, they tax you 8.5%, they are looking to increase it to 13.5% AND make it retroactive to Jan. 1st, 2009. Fucking fuck. Live free or die, my ass, NH is the new Massachusetts. My business is moving!
Article 1 section 9 of the United States Constitution prohibits the passage of Ex Post Facto laws....so you can tell them to take their retroactivity and shove it up their ass!
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Old 01-09-2010, 03:43 PM   #8
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Article 1 section 9 of the United States Constitution prohibits the passage of Ex Post Facto laws....so you can tell them to take their retroactivity and shove it up their ass!
Uhm, haven't heard that argument, but I will be sure to research it before they have a public hearing near my area. They tried to pass this law before any public hearing because they added it into the new State Budget. Now it is hearing TONS of backlash.
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Old 01-09-2010, 03:50 PM   #9
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You fuck with my money and I will rip you a new asshole. You are in spain dude, move your company to BVI or Channel Isles.
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Old 01-09-2010, 03:55 PM   #10
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You fuck with my money and I will rip you a new asshole. You are in spain dude, move your company to BVI or Channel Isles.
I am a US citizen who lives half the year in Spain. My LLC is based in the US.
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Old 01-09-2010, 04:36 PM   #11
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I am a US citizen who lives half the year in Spain. My LLC is based in the US.
hopefully you're in Spain during those cold NH winters (OMotM RIP btw)
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Old 01-09-2010, 05:21 PM   #12
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hopefully you're in Spain during those cold NH winters (OMotM RIP btw)
In NH now, will be back that way in exactly 50 days.

NOMotNom?
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Old 01-09-2010, 06:25 PM   #13
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I'm in NH as well and my advice is talk to a fucking CPA. The amount of incorrect information in this thread is insane. Taking the advice of unqualified idiots on forums is a great way to fuck up your taxes.
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Old 01-09-2010, 07:11 PM   #14
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I'm in NH as well and my advice is talk to a fucking CPA. The amount of incorrect information in this thread is insane. Taking the advice of unqualified idiots on forums is a great way to fuck up your taxes.
I guess you fail to read as well.

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I know that. I already own an LLC... I am looking to move said LLC. Just [double-bold]casually[/double-bold] looking for others input first.
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Old 01-09-2010, 07:14 PM   #15
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I read that my point is asking for advice, even casually, is useless because 50% of what you hear will be wrong and without professional advice there is no way to tell what the real story is.
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Old 01-09-2010, 07:18 PM   #16
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I read that my point is asking for advice, even casually, is useless because 50% of what you hear will be wrong and without professional advice there is no way to tell what the real story is.
No shit, pablo. Casual is better than nothing. Have a meeting with my CPA Monday. Let me guess, you have never casually looked for information online?

Why do you actively participate in this forum anyhow? A majority of the information is hearsay and assumptions.
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Old 01-09-2010, 09:10 PM   #17
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OMotM Old Man of the Mountain
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Old 01-09-2010, 09:12 PM   #18
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OMotM Old Man of the Mountain
lol. More like... What used to be... I remember driving by it awhile before it fell while going to Bretton Woods, I think it was.
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