You formed an LLC. Now what?

Good Morning!

1. Feature: You formed an LLC. Now what? (4 min)

2. From the Archive: Need an Attorney for your Business? A Guide to Selecting Carefully (Read it here)

Have a productive Thursday.

-TCoL

Missed our last feature article? Template Tuesday: Use Contract Assumptions to Protect Your Deal and Profit (Read it here)

You did the hard thing. Now do the smart things in the right order so you stay bankable, compliant, and flexible as you grow. This guide focuses on the five popular jurisdictions you asked about — Florida, Texas, Delaware, Wyoming, and Nevada — and walks you through what matters next, including management structure, registered agents, foreign registration, EIN basics, BOI reporting, and your early annual filings. Where it helps, we point out the .gov sources so you can click, file, and move on.

Choose and confirm your management structure

Your formation document asked whether the LLC is member managed, or manager managed. In a member managed LLC, the owners run the day to day. In a manager managed LLC, members appoint one or more managers to run operations; managers might be members or non-owners. You typically disclose this in the formation document and on certain state filings. Texas explains the two models this way and requires you to specify which one in the certificate of formation.

Florida uses short titles on filings: MGR for manager and MGRM for managing member. If you filed in Florida, review your public record to ensure the right people and titles are listed and aligned with your operating agreement.

Make sure your registered agent is correct

Every one of the five states requires a registered agent with a real street address in that state. PO Boxes will not cut it.

• Florida requires a Florida street address for the registered office.

• Texas requires a physical address in Texas where the agent can be personally served during business hours.

• Delaware also requires an in state registered agent with a physical street address.

• Wyoming requires a Wyoming street address where the agent can accept service.

• Nevada recognizes registered agents and maintains a public listing; you will designate one when you file your lists.

If your agent or its address changes, file the state change form right away so you do not miss service of process. Florida and Texas both publish those change procedures and forms.

Not sure if you want to be your own registered agent? Read our prior article: Should You Be The Registered Agent Of Your LLC?

Formed in one state, operating in another? Register as a “foreign” LLC

If you formed outside your home state and are doing business in your home state, you generally must register in your home state as a “foreign” LLC and maintain a registered agent in both places.

• Florida requires a certificate of existence or good standing from your formation state dated within 90 days when you register a foreign LLC.

Pro-tip: when forming an out-of-state LLC, order a good standing certificate in the portal while you are paying for your initial formation filing; that way, you are ready for your home state registration. Doing so typically saves time and money versus ordering it separately.

• Texas requires foreign LLCs transacting business in Texas to file an application for registration and maintain a Texas registered agent and office. Penalties include late fees and the inability to sue in Texas courts until you register.

The Co. Letter Premium gives you access to a growing library of proven templates designed to help you and your LLC save time, improve cash flow, and protect your business. All are professionally prepared. 

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Get your EIN the right way

Use the IRS online EIN application only. It is fast, free, and available on irs.gov. The IRS limits you to one EIN per responsible party per day, and you must update the responsible party within 60 days if it changes using Form 8822 B.

Understand today’s BOI reporting status

FinCEN’s beneficial ownership rules changed in 2025. As of March 26, 2025, FinCEN adopted an interim final rule that removed federal BOI reporting for U.S. companies formed under state law, while continuing to require reporting for foreign reporting companies that register to do business in the United States.

Pro tip: Even though you no longer have to register a domestic LLC with FinCEN, they will accept a voluntary filing. Don’t do it.

Knock out early state maintenance filings

Here are the recurring filings and deadlines that trip up new LLCs in these five states:

• Florida. File your annual report between January 1 and May 1 to stay active. Late fee after May 1, and you may be administratively dissolved if your annual report is still missing by the third Friday in September.

• Texas. File the franchise tax report every year by May 15. Most entities also file the Public Information Report with the franchise tax filing. Extensions are available if requested and paid properly.

• Delaware. Delaware LLCs do not file an annual report but must pay a $300 annual franchise tax by June 1.

• Wyoming. File an annual report each year based on your anniversary month and pay a license tax with a $60 minimum or 0.0002 of Wyoming assets, whichever is greater.

• Nevada. File the initial list and state business license with formation, then file the annual list and renew the state business license by the last day of your anniversary month. For LLCs, the state business license fee is typically $200.

If you miss a deadline, use your state’s reinstatement path promptly; Florida and Delaware both provide clear reinstatement and “return to good standing” instructions.

File the practical paperwork that keeps you bankable

• Operating agreement. Even single member LLCs should adopt one. The SBA recommends having an operating agreement to define ownership, management, and procedures. Banks often ask for it. Not sure? Read our prior article: Your LLC Is Missing Its Most Important Document.

• Initial resolution. Capture the actions you already took: adopting the operating agreement, appointing managers or managing members, authorizing the bank account, selecting tax treatment, approving leases, and appointing your registered agent. Keep this with your company records. Read our prior article: Template Tuesday: The Initial Resolution You Need After LLC Formation.

• Banking setup. Open the business account with your EIN, operating agreement, and resolutions. Many banks will also want to see proof of filing and the names of managers or managing members as shown on the public record. Read our prior article: Like You Mean Business: Your LLC’s Credit Blueprint.

• S Election. Thinking about an S Election for payroll tax savings? File IRS Form 2553 within two months and 15 days after the start of the tax year you want the status to begin. If you miss it, the IRS has late relief paths, but on-time is best. Talk with your CPA before filing. Read our prior article: Should Your LLC Elect S Corporation Status? The Real Deal.

• Hiring and vendor paperwork. Complete Form I-9 for each employee on day one. Collect Form W-9 from vendors and file 1099 NEC for qualifying payments.

• Sales and employer tax registrations. If you sell taxable goods or certain services or will have employees, register with your state tax agency. For example, Florida businesses register with the Department of Revenue; you will do this before collecting and remitting sales tax or withholding.

If you picked a formation state different from where you work

When you form in Delaware, Wyoming, or Nevada for governance or privacy reasons but operate in Florida or Texas, foreign registration in the home state is still required. Plan for the double maintenance: a registered agent and annual or license taxes in the formation state plus the annual filings and taxes where you actually do business.

Quick clean-up checklist

• Confirm your management structure is correct on the public record and in your operating agreement. Florida and Texas tell you exactly how to reflect managers or managing members.

• Verify your registered agent’s physical address and update immediately if anything changes.

• If you formed out of state, gather a fresh certificate of good standing and register as a foreign LLC where you operate. Florida’s 90-day rule for valid certificates of good standing is a common standard.

• Get or confirm your EIN on the IRS site, remember the one per day rule, and calendar a 60-day deadline to file Form 8822 B if the responsible party might change.

• Calendar your IRS S Election deadline (see above).

• Calendar your first annual filings: Florida by May 1, Texas by May 15, Delaware by June 1, Wyoming on your anniversary month, and Nevada by the last day of your anniversary month.

Wrap up

Great companies die from boring problems. Calendar the recurring filings. Keep your registered agent current. Put an operating agreement and initial resolutions in your company binder. File your foreign registration if you crossed state lines.

Try to use the IRS and state portals, not third-party sites, whenever you can.

Do these things early and build a clean paper trail that keeps banks cooperative, investors confident, and you focused on customers, not catch-up.

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