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Limited Partnership (LP) in Florida

Limited Partnership (LP) in Florida

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Looking for a flexible business structure where some partners can invest without taking on personal risk? A Limited Partnership (LP) in Florida off...

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Looking for a flexible business structure where some partners can invest without taking on personal risk? A Limited Partnership (LP) in Florida offers a strategic solution for entrepreneurs who want to divide responsibilities and liability between active managers (general partners) and silent investors (limited partners).

At 100Services, we help you form a Florida LP the right way โ€” quickly, legally, and with the full support you need to stay compliant and focused on growth.

๐Ÿค What Is a Limited Partnership (LP)?

A Limited Partnership is a business structure consisting of at least:

  • One general partner who manages the business and is personally liable for debts and obligations.
  • One or more limited partners who invest in the business but do not participate in day-to-day operations โ€” and have liability limited to their investment.

This structure is ideal for real estate projects, investment...

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Looking for a flexible business structure where some partners can invest without taking on personal risk? A Limited Partnership (LP) in Florida offers a strategic solution for entrepreneurs who want to divide responsibilities and liability between active managers (general partners) and silent investors (limited partners).

At 100Services, we help you form a Florida LP the right way โ€” quickly, legally, and with the full support you need to stay compliant and focused on growth.

๐Ÿค What Is a Limited Partnership (LP)?

A Limited Partnership is a business structure consisting of at least:

  • One general partner who manages the business and is personally liable for debts and obligations.
  • One or more limited partners who invest in the business but do not participate in day-to-day operations โ€” and have liability limited to their investment.

This structure is ideal for real estate projects, investment groups, family-owned businesses, and startups looking for passive capital without giving up operational control.

๐Ÿ“Œ Key Features of a Florida Limited Partnership

โœ”๏ธ Two Classes of Partners

  • General Partners manage the business and assume full personal liability.
  • Limited Partners provide funding but have no managerial authority and are not personally liable for business debts.

โœ”๏ธ Liability Protection for Limited Partners

Limited partners benefit from legal protection, meaning their personal assets are shielded as long as they donโ€™t take part in management decisions.

โœ”๏ธ Formal Filing Required

Unlike General Partnerships, Limited Partnerships must be registered with the Florida Division of Corporations and follow specific filing procedures โ€” and 100Services handles all of that for you.

๐Ÿ›  Whatโ€™s Included in Our Florida LP Registration Package

We offer a complete service to properly form your Limited Partnership and ensure legal compliance from day one.

โœ… 1. Business Name Search

  • We search for your desired name and check for availability.

โœ… 2. Filing the Certificate of Limited Partnership (Form LP-1)

  • We prepare and submit the official formation document, including all legally required partner information.
  • Ensure compliance with Chapter 620 of the Florida Statutes.
  • Deliver proof of your official LP registration.

โœ… 3. EIN Registration

We apply for and obtain your EIN (Employer Identification Number) from the IRS โ€” required for taxes, bank accounts, and hiring employees.

โœ… 4. Business License and Permit Support

Identify and help file any local, county, or state licenses required based on your industry and location.

โœ… 5. Ongoing Compliance Support

Reminders and assistance for annual reports, changes to partnership structure, and renewals.

๐ŸŒด Why Form a Limited Partnership in Florida?

Florida offers a pro-business climate that makes it easy to set up and grow your LP.

Top benefits:

  • Liability protection for limited partners
  • Clear separation of roles between management and investment
  • Easy capital raising from passive investors
  • No personal state income tax in Florida
  • Formal structure with flexibility for custom agreements

Itโ€™s a wise choice for business owners who want to retain control while working with passive investors who seek protection.

โš ๏ธ Risks and Considerations

  • General partners are personally liable for all business debts and legal obligations โ€” just like in a general partnership.
  • If a limited partner becomes actively involved in management, they risk losing their liability protection.
  • LPs require more formal maintenance than a sole proprietorship or general partnership.

With 100Services, you can be confident that your LP is structured correctly โ€” and your liability shield remains intact.

๐Ÿ’ป 100% Online Registration โ€“ Done for You

You donโ€™t need to figure out the process or navigate complex legal documents. We handle your entire Florida LP formation online, securely, and efficiently.

We send you:

  • Your official LP registration certificate
  • Your EIN and licensing guidance
  • Compliance reminders and updates

๐Ÿš€ How It Works with 100Services

โœ… Step 1: Tell Us About Your Partnership

Share your goals, roles, and vision โ€” weโ€™ll recommend the best setup for general and limited partners.

โœ… Step 2: We File All Legal Documents

We complete the Florida LP registration and obtain your EIN.

โœ… Step 3: Get Licensed and Compliant

We guide you through local permits and help with any licensing you need.

โœ… Step 4: Run Your Business with Confidence

Start operating with the proper documents, protection, and structure in place.

๐Ÿ† Why Choose 100Services?

  • Complete LP formation service
  • Fast online process, no hassle
  • Ongoing compliance and support
  • Best conditions to start your business in Florida

We go beyond filing โ€” we set your business up for long-term success.

๐Ÿ“ž Ready to Start a Limited Partnership in Florida?

Donโ€™t leave your legal setup to chance. Let 100Services help you build a secure, compliant Limited Partnership from the ground up.

๐Ÿ“ง Contact us at sales@100services.com

๐ŸŒ Or get started online in just a few clicks!

๐Ÿ‘‰ Register your Florida LP with experts โ€” simple, fast, and legally sound.

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FAQ

A Limited Partnership (LP) in Florida is a business structure that includes both general partners and limited partners. General partners manage the business and are personally liable for debts, while limited partners are passive investors whose liability is limited to their capital contribution. LPs are ideal for real estate projects, investment ventures, or businesses where owners want to separate control from capital. Unlike a general partnership, LPs require formal registration with the state. At 100Services, we help you form your Florida LP correctly, ensuring you get both flexibility and legal protection.

In a General Partnership (GP), all partners are actively involved in management and personally liable for business debts. In a Limited Partnership (LP), at least one partner takes on the role of general partner (with full liability and control), while other partners can be limited partners, contributing funds but not participating in daily operations. LPs offer liability protection for limited partners, which GPs do not. If you're looking for a structure that allows silent investors to join without risking personal assets, an LP is the better choice โ€” and 100Services will help you set it up properly.

Pros include:

  • Liability protection for limited partners
  • Clear separation between investors and management
  • Ability to raise capital from passive investors
  • Flexible structure with a custom partnership agreement

Cons include:

  • General partners have no liability protection
  • Requires formal filing and maintenance
  • Limited partners lose protection if they get involved in management

100Services ensures you understand every detail before you commit, and we help you manage the risks and maximize the benefits.

Yes โ€” while not legally required, a written partnership agreement is essential for Limited Partnerships in Florida. It outlines each partnerโ€™s rights, responsibilities, capital contributions, profit distribution, management rules, and exit strategies. Without it, conflicts can arise, especially between active and silent partners. We provide a customized Florida partnership agreement tailored to your business needs โ€” ensuring all partners are protected and aligned from the start.

To register an LP, you must file a Certificate of Limited Partnership (Form LP-1) with the Florida Division of Corporations. You'll also need to appoint a registered agent, draft a partnership agreement, and obtain an EIN from the IRS. If operating under a business name, you must register a fictitious name (DBA) as well. At 100Services, we handle every step โ€” including filings, name registration, and EIN application โ€” all online and stress-free.

Yes, most Limited Partnerships in Florida will need one or more local, county, or state business licenses, depending on their industry and location. Even passive investors must ensure the business complies with Florida licensing laws. 100Services identifies all the necessary permits for your LP and guides you through the application process so you can focus on growing your business legally and confidently.

Yes โ€” limited partners are protected from personal liability as long as they remain passive investors and donโ€™t get involved in day-to-day operations or decision-making. However, if a limited partner begins managing the business or representing the LP, they could lose that protection and be treated like a general partner. This is why having a detailed Florida partnership agreement is so important. We help you define each partnerโ€™s role clearly to maintain that protection.

At 100Services, we provide the best conditions for registering your Florida LP. We take care of everything โ€” from preparing and filing your Certificate of Limited Partnership to drafting your custom agreement, applying for your EIN, and guiding you through licensing. You get fast, affordable service with expert support, 100% online. Plus, we offer ongoing compliance assistance to help you maintain your LP and avoid costly mistakes. We make starting a Limited Partnership simple, secure, and legally sound.

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