M-MTax
Level 12

After you file

On the downside, if your spouse and you are members of the LLC (a multi-member LLC), you will have to file a 1065 - partnership return - with the IRS each tax year. No filing will be required in Florida, however.

 

On the upside, multi-member LLCs provide asset protection whereas single-member LLCs in Florida do not.

 

Ref https://www.alperlaw.com/blog/single-member-llc-in-florida

 

If you're a single-member LLC, you might want to secure legal advice with respect to your choice of entity since you're in Florida.