Yes, a minor can own an LLC in Florida. The Florida Revised Limited Liability Company Act sets no minimum age for members, and the Articles of Organization filed with the Division of Corporations don’t ask for anyone’s age.1Florida Legislature. Florida Statutes 605 – Florida Revised Limited Liability Company Act – 605.01022Florida Department of State – Division of Corporations. Instructions for Articles of Organization (FL LLC) The complication is everything that surrounds membership. A minor generally can’t be held to a contract, and an LLC runs on contracts, starting with the operating agreement. In practice, that means a minor’s ownership almost always has to be held and managed through an adult: a court-appointed guardian, a trustee, or a custodian under Florida’s Uniform Transfers to Minors Act.
The Capacity Problem
Florida removes the “disability of nonage” at 18. Below that age, a minor can generally disaffirm (walk away from) most contracts they sign.3Florida Legislature. Florida Statutes 743 – 743.07 Rights, Privileges, and Obligations of Persons 18 Years of Age or Older
An operating agreement is a contract. It governs capital contributions, voting rights, profit allocation, and transfer restrictions. If a minor member could cancel their agreement at will, every other member would be exposed. A minor could commit to a capital call and then back out. They could accept transfer restrictions and then disaffirm them. That instability is why most Florida business attorneys structure a minor’s ownership so an adult is the one signing.
Florida does create a few narrow carve-outs. A minor age 15 or older can enter into certain insurance and annuity contracts and cannot later disaffirm them.4Florida Senate. Florida Statutes 627.406 – Power to Contract; Purchase of Insurance by or for Minor A judge can also approve a specific contract for a minor under Florida Statute 743.08, after which the minor loses the right to walk away from that contract. Neither exception solves the general LLC problem.
Three Ways to Structure a Minor’s Ownership
If you want a minor to hold an interest in a Florida LLC, you’re really choosing among three structures.
Court-Appointed Guardian of the Property
A Florida circuit court can appoint a guardian of the property to manage the minor’s financial and business interests. The guardian acts as a fiduciary and must put the minor’s welfare first.
The trade-off is court oversight. Florida law requires court approval before a guardian can take significant actions with the ward’s property, including selling or mortgaging assets, performing or settling contracts, and continuing an unincorporated business.5Florida Legislature. Florida Statutes 744 – 744.441 Powers of Guardian Upon Court Approval If the LLC wants to take on debt, sell an asset, or enter a major contract tied to the minor’s interest, the guardian has to petition the court first. Other members going into business with a minor should know that in advance.
Trust
A parent or other adult can create a trust naming the minor as beneficiary and transfer the LLC membership interest into it. The trustee manages the interest under the trust document, which can grant broad authority without routine court involvement. The document can also control when the minor takes direct control, how distributions work, and what the trustee may and may not do.
This is often the most flexible option when the goal is giving an experienced adult full operational authority while preserving the minor’s economic ownership. The downsides are the setup cost and the need for a lawyer to draft something that actually fits the business.
UTMA Custodial Account
Florida’s Uniform Transfers to Minors Act lets an adult custodian hold property for a minor, and LLC membership interests qualify. The custodian has broad discretion to manage the custodial property for the minor’s benefit without a court order for routine decisions.6Florida Senate. Florida Statutes 710.116 – Use of Custodial Property The custodian still owes a fiduciary duty and cannot use the property for personal benefit.
The timing matters. Under the standard UTMA provisions, custodial property transfers to the minor at age 21. The person who created the custodianship can push that out to age 25, but if the original transfer was an irrevocable gift, the minor can still compel full distribution at 21.7Florida Legislature. Florida Statutes 710 – 710.123 Termination of Custodianship Think about whether a 21-year-old is ready to run or sell their share of the business before locking this choice in.
Emancipation If the Minor Is 16 or Older
A minor who is at least 16 can petition for removal of the disabilities of nonage. If a Florida circuit court grants it, the minor gains the legal status of an adult and can sign binding contracts and operate a business without a guardian.8Florida Legislature. Florida Statutes 743 – 743.015 Disabilities of Nonage; Removal
A parent, legal guardian, or guardian ad litem files the petition. It must describe the minor’s character, education, income, and mental capacity for business, and explain how the minor will meet basic living needs. When a parent files, the court appoints an attorney ad litem to represent the minor independently.8Florida Legislature. Florida Statutes 743 – 743.015 Disabilities of Nonage; Removal
This is a serious step. Emancipation reaches far beyond business ownership: the minor takes on all adult legal responsibilities, loses certain protections available to children, and can’t undo the order. Courts grant it only when they’re convinced it serves the minor’s best interest.
The Bank Account Will Be a Problem
Even once the LLC is properly formed, opening a business bank account trips families up. Federal anti-money-laundering rules require banks to verify the identity of the person opening the account, and when the beneficial owner lacks legal capacity, the bank collects identifying information from the adult who opens it.9FFIEC BSA/AML Manual. Assessing Compliance with BSA Regulatory Requirements – Customer Identification Program A parent, guardian, or custodian will need to be the primary signer. The minor can’t open the account alone.
Some banks go further and refuse to list anyone under 18 as an account holder on a business account at all. Call ahead and ask about the specific policy before choosing where to bank.
Who Actually Runs the Business
LLC members normally vote on major actions, participate in management, and owe fiduciary duties to one another. A minor can’t meaningfully fulfill those roles without an adult standing in for them, and that adult has split loyalties by design. A guardian or trustee has to protect the minor’s financial welfare, which sometimes means saying no to decisions the LLC’s other members want. If the LLC needs a capital call the guardian considers too risky, the duty to the minor wins. Prospective partners should go in with their eyes open on that point.
If the minor will actually work in the business, child labor rules apply. Under federal law, a parent can employ their own child under 16 in most non-hazardous occupations when the business is a sole proprietorship or a qualifying partnership of parents.10eCFR. 29 CFR 570.126 – Parental Exemption Manufacturing, mining, and occupations deemed hazardous for 16-to-18-year-olds are excluded. If the LLC’s tax classification doesn’t qualify for the parental exemption, ordinary child labor restrictions on hours and types of work apply.
Taxes the Family Needs to Plan For
The IRS doesn’t care how old a member is. Income allocated to the minor is taxable, and someone has to report it correctly.
Pass-Through Income
Most LLCs are pass-through entities, so profits and losses flow to each member’s individual return. A minor’s share goes on the minor’s own return, not a parent’s, even if the minor never touches the money. A parent or guardian typically prepares and files it.
For tax year 2026, the standard deduction for a single filer is $16,100.11Internal Revenue Service. IRS Releases Tax Inflation Adjustments for Tax Year 2026 A minor claimed as a dependent gets a smaller standard deduction calculated from earned income. Income above the applicable deduction is federally taxable.
Kiddie Tax
If the minor’s share qualifies as unearned income and exceeds $2,700, the kiddie tax may apply, taxing the excess at the parent’s marginal rate. It covers children under 18, children who are 18 with earned income below half their support, and full-time students ages 19 through 23 in the same situation.12Internal Revenue Service. Topic No. 553, Tax on a Childs Investment and Other Unearned Income (Kiddie Tax) Whether LLC income is “earned” or “unearned” depends on how actively the minor participates, which is a question for a tax professional.
Self-Employment Tax
In a single-member LLC, or a multi-member LLC taxed as a partnership, a materially participating minor’s share is subject to self-employment tax covering Social Security and Medicare: 15.3% on top of income tax.13Internal Revenue Service. Single Member Limited Liability Companies
A narrow exemption helps some families. When a child under 18 works for a business structured as a sole proprietorship owned by a parent, or a partnership where both partners are parents, the child’s wages are exempt from Social Security and Medicare taxes.14Internal Revenue Service. Tax Treatment for Family Members Working in the Family Business It does not apply when the business is a corporation or a partnership with non-parent partners.15Internal Revenue Service. Family Employees Whether it reaches an LLC depends on the LLC’s tax classification.
Florida State Income Tax
Florida does not impose a personal state income tax, so there’s nothing owed at the state level on a minor’s pass-through share.
What It Costs to Form and Keep the LLC
Filing the Articles of Organization with the Florida Division of Corporations costs $100. Each year after, the LLC must file an annual report. The fee is $138.75 if filed by May 1 and $538.75 if filed late.16Florida Department of State – Division of Corporations. LLC Fees Missing the annual report entirely can lead to administrative dissolution.
Beyond state fees, budget for an attorney to draft an operating agreement that actually accounts for the minor’s involvement, the setup cost of any trust or guardianship, a registered agent if the family prefers not to use a home address, and tax preparation for the minor’s return. Setup costs run higher than a standard LLC because the layers protecting the minor need to be built correctly the first time.