LLC in Florida needed if already have a New Mexico LLC?

Question

I'm a resident of Florida and need to a create a LLC for liability protection. My business will solely be an online business. I would like to form the LLC in New Mexico as they have no annual report requirements and the fees are among the lowest.
My main concern is that would I need to create an LLC in Florida anyway? What would happen if I don't and I only use the New Mexico LLC?

gaefan · Answer

I don't know Florida laws, but you will likely need to register your LLC in Florida as a foreign company.  This generally means an annual fee (maybe the same as the annual fee for a Florida LLC) and annual reporting requirements.
In most situations, small businesses should register an LLC in their home state.
I don't know what would happen if you disregard Florida law and don't register your LLC there, but it probably isn't worth taking the risk.

LLC in Florida needed if already have a New Mexico LLC?

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