Goal: Create an LLC for your new business and receive a Federal Tax Identification Number, also known as a FEIN or Employer Identification Number (FEI/EIN). The FEIN is a unique nine-digit corporate ID number that works the same way a Social Security number does for individuals.
If you already have formed your Limited Liability Corporation (LLC) or a similar type of entity recommend by your attorney or tax preparer you can take the step to just add your new Broker of Record as a manager.
If you remember a test question for the real estate exam is when forming a real estate corporation at least one member of the board must be an active broker. Here’s how you do it.
HOW TO CREATE AN LLC
Goal: Register your newly created LLC with the Department of Business Professional Regulations.
To do this, you need to:
Register for a license with the Department of Business Regulations (DBPR) for your newly formed LLC using form RE 7. You will need to pay a fee of $77. Additionally, register your new broker of record license number with the DBPR using form RE 13, and pay the fee of $77.
You can download these forms from the website myfloridalicense.com.
However, for detailed guidance, here is step-by-step guide to register your n created LLC with the Department of Business Professional Regulations.
Verify eligibility: Before starting the registration process, make sure your business is eligible to register as an LLC with the Department of Business Professional Regulations in your state.
Choose a name: Select a unique name for your LLC that meets the naming requirements set by the Department of Business Professional Regulations.
- Obtain and complete necessary forms: Obtain the required forms from the Department of Business Professional Regulations (DBPR) or their website, and fill them out completely and accurately.Pay the required fees: Pay the fees associated with registering your LLC with the Department of Business Professional Regulations.File the forms: Submit the completed forms and fees to the Department of Business Professional Regulations. This can usually be done online, but may also require physical submission in some cases.
Wait for approval: Wait for approval from the Department of Business Professional Regulations. Processing times can vary depending on the state and workload of the department.
Receive confirmation: Once your LLC has been approved by the DBPR, you will receive confirmation of your registration, which will include your LLC’s registration number.
Obtain any necessary licenses and permits: Depending on your business type and location, you may need additional licenses and permits to operate legally. Check with your state and local authorities for any additional requirements.
Note: To become the Qualifying Broker of Record and register your company as a licensed real estate corporation with DBPR (Department of Business and Professional Regulation) in Florida, you need to submit two basic forms through myfloridalicense.com. However, it’s important to note that this step can only be completed after your corporation is properly set up.