Florida Double LLC™ FAQs
How much does a Florida Double LLC™ package cost?
Our Double LLC package costs $390 Total. $250 of your overall costs come from setting up two Florida LLCs. The rest is our formation fee and Florida registered agent service fee. (See the section titled “Transparent Pricing: Here’s Where Your Money Goes” above.)
How long does it take to form my Florida LLCs?
Florida processes online filings in around 5 business days, and paper filings take about a week or longer. These time-frames are no different for a Double LLC (which simply consists of two Florida LLCs) than for a traditional LLC formed in Florida.
When you sign up for our Florida Double LLC™ package, we’ll use the online filing method and have the Articles of Organization for both companies filed with the state within 5 business days.
Can I Open a Bank Account For My Double LLC?
Yes, but not at every bank. While there are many benefits to owning two LLCs that manage each other, you could run into difficulties when you try to open a bank account because the bank might get confused about who is authorized to act on each LLC’s behalf.
Before signing up for our Double LLC package, we recommend that you speak with the bank you intend to do business with, explain that you’re starting two Florida LLCs that will manage each other, and find out if the bank is willing to work with you. To assist you, our guides keep an updated list of banks operating in Florida that have started accounts for our Florida Double LLC™ clients.
Does a Double LLC pay taxes in Florida?
Florida doesn’t have a state income tax, so you won’t pay state income taxes on earnings for either company that makes up your Double LLC. But, as with any limited liability company, you’ll still have federal and local tax obligations to deal with.
You can learn more about the tax benefits to forming an LLC in Florida at our Florida LLC Taxes guide.
Can Sunshine Corporate Filings File My Double LLC’s Annual Reports?
Yes! At Sunshine Corporate Filings, we provide annual renewal services for $100 per year per business entity. You will have the option to include this service for both of your Florida LLCs on the sign up form.
Hiring Sunshine Corporate Filings LLC® to file your Florida annual reports will help ensure that your companies never falls out of good standing with the state.
What About Nevada or New Mexico or Wyoming? Aren’t They Anonymous?
There are states where you can, in theory, form an anonymous LLC. Nevada, however, is not one of them. A member must sign Nevada Annual Reports. Much higher formation and annual fees in Nevada also make the state a poor choice.
On the other hand, New Mexico and Wyoming collect no “beneficial ownership” information, either during formation or annual reporting. Unfortunately, the days of not collecting “beneficial owners” information is quickly ending. Public outcry over anonymous shell corporations is putting heavy pressure on states and federal governments to change current laws.
The Incorporation Transparency and Law Enforcement Assistance Act has been introduced multiple times in the US Congress, and numerous presidential budgets have included the closing of reporting loopholes.
The truth is this: the anonymity offered in New Mexico and Wyoming will soon come to an end. If you want true privacy, you will need to take advantage of a legal, legitimate process, which is exactly what we endorse.
The Florida Double LLC™ is the best solution for real business privacy.