Form a Partnership in Florida
Everything you need to know about forming a Partnership in Florida. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Draft Partnership Agreement
Create a comprehensive partnership agreement outlining ownership, profit sharing, and management responsibilities. This is the foundational document for your partnership.
2-4 hours
Choose Business Name
Select a unique business name and check availability with Florida Division of Corporations. Consider registering a fictitious name if needed.
30 minutes
Obtain Federal EIN
Apply for an Employer Identification Number from the IRS for tax purposes and business banking. Required for partnerships with employees.
15 minutes
Register for State Taxes
Register with Florida Department of Revenue for applicable state taxes including sales tax if selling goods or taxable services.
30 minutes
What's Next After Filing
Once your Partnership is officially formed, you'll want to complete these important steps:
- •Obtain Business Licenses — Apply for any required federal, state, or local business licenses and permits specific to your industry and location.
- •Open Business Bank Account — Open a business bank account using your EIN and partnership agreement to maintain separation of business and personal finances.
- •Execute Partnership Agreement — Have all partners sign the partnership agreement and begin business operations according to the agreed terms.
Advantages
- ✓No state filing fees or formal registration required
- ✓Pass-through taxation avoids double taxation
- ✓Simple formation process with minimal paperwork
- ✓Flexible management structure and profit sharing arrangements
Considerations
- •Unlimited personal liability for all partners
- •Partners personally liable for business debts and other partners' actions
- •Business dissolves if a partner leaves or dies
Annual Obligations
What OpenChamber Does
We don't file paperwork for you — we guide you through doing it yourself, which saves money and helps you understand your business from day one.
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Every task you need, organized by priority and tailored to Florida.
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