According to Florida statutes, a LLC is a kind of business entity which is carrying a character of both a corporation as well as of sole proprietorship. As per chapter 608 of Florida statutes, there are certain laws with respect to a Limited Liability Company that makes it mandatory for them to maintain certain financial records as follows.
Department Of State Filing: All Florida LLCs are required to maintain a copy of filings that they do with Florida Department of State. This may include articles of organization, certificates regarding conversions, power of attorney and all other documents that a LLC has filed with the Department Of State. The LLC should also maintain an annual report which is to be submitted yearly to the Department Of State. This annual report should contain the formal name and address of the LLC, date of formation, and date of getting business licence. Full address of registered business and name of registered agent must be mentioned in the annual report.
Department Of State Filing: All Florida LLCs are required to maintain a copy of filings that they do with Florida Department of State. This may include articles of organization, certificates regarding conversions, power of attorney and all other documents that a LLC has filed with the Department Of State. The LLC should also maintain an annual report which is to be submitted yearly to the Department Of State. This annual report should contain the formal name and address of the LLC, date of formation, and date of getting business licence. Full address of registered business and name of registered agent must be mentioned in the annual report.
Financial Records: A LLC in Florida must maintain records related to their financial statements for last three years. Statements of financial records may include details of cash the LLC is having, total value of LLC's total assets and properties, details of amount each member contribute to the LLC. Last but not the least is that a LLC must maintain a record of procedures by which the LLC would stop functioning. The LLC is also required to maintain an agreement letter for the condition when company is dissolved and there is a division of assets amongst members. They are obliged to keep a record of times and locations of all the meetings the LLC members conducted in the past one year.
Tax Records: According to rules laid by chapter 608 of Florida statutes, a Florida LLC is advised to keep all records pertaining to taxation of the last three years. These documents may include income tax statements of federal, state and local area taxes. This totally depends on the Board of Directors of the LLC to decide whether to get taxed as a corporation or as a sole proprietorship company. In any case, the LLC must keep all their tax related documents intact of the last three years.
Personal Information: A LLC in Florida is required to keep all the details of their personal information at their registered office. This personal information includes full names and addresses of the members, managers, the resident agents and all other important members holding important designations. Members of LLC are basically the owners or those shareholders who hold equal number of shares. Since a LLC is more like a hybrid business entity these shareholders can also manage the company.
Article Source: Travis Henry
it is true tha LLC in California is needed to keep all information of their private information at their authorized workplace.t
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteHi,The government has recognized this and set the country up as a transshipment center. This means that products can be shipped through Qatar with no tax. Add to this the fact that fuel is very cheap in case of Registered Agents in Qatar in the country and it is a popular place for companies doing business in the Middle East to ship their supplies.Thanks...
ReplyDeleteI came across through your blog. Thanks for sharing.
ReplyDeleteAccounting Firms in Perth
Very nice and interesting post. Beautifully structured and very close to facts. I found myself lucky to go through it. Hope to have more post in future like this. Please also Visit followings :
ReplyDeleteTax preparer in Indianapolis
Accounting services in Cleveland
Restaurant accounting in Chicago
Accounts payable services in Chicago
CPA in Chicago
CPA in Indianapolis
Restaurant Accounting services in Chicago
It is a very informative and useful post thanks it is good material to read this post increases my knowledge. Investment Advisor Perth
ReplyDeletenow not simplest the writing however also the creativeness power of creator of this blog is surely swish. Use of terminology seemed great as i'm also a creator but i'm not able to find out any mistakes after studying this text. Small Business Accountant Perth
ReplyDeleteI gained new knowledge from well written content of this blog. It is showing some different kind of strategy to keep work better and improve with every new assignment. Gracefully written blog Tax Accountant Perth
ReplyDeleteWow! This is the perfect blog I am looking this type of blog its awesome blog here , share great information about this topic. This informative blog helps many readers with their decision-making regarding the situation. Great articles and will look forward for more!
ReplyDeleteHow to form an LLC in Ohio
It is worthwhile reading this blog. I was searching such kind of blog for a long time but now I think I got a blog of my interest. I am thankful for these all suggestions mentioned under this blog.
ReplyDeletehow to get an ein number
creativity of writer is purely impressive. It has touched to the level of expertise with his writing. Everything is up to the mark. Written perfectly and I can use such information for my coming assignment. Perth Accountants
ReplyDeleteVery interesting blog Awesome post. Your article is really informative and helpful for me and other bloggers too. Click here:
ReplyDeletebookkeeping services in London
Amazing content with so much has been put on sharing information is just immense. Keep sharing such post.
ReplyDeletebookkeeping service in London
CPA in san francisco Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors.
ReplyDeleteCalifornia estimated tax payments A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post.
ReplyDeleteCalifornia estimated tax payments A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post.
ReplyDelete