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 catch sits outside the LLC statute: anyone under 18 generally can’t be bound to a contract, and an LLC runs on contracts. In practice that means a minor’s ownership almost always runs through an adult acting on their behalf.
Why Age Doesn’t Appear in the LLC Statute but Still Matters
Florida removes the “disability of nonage” at 18. Below that age, a person can generally 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 The right exists to protect young people from obligations they don’t fully understand, and it doesn’t disappear because the contract happens to be an LLC operating agreement.
That agreement is what governs profit-sharing, voting, capital contributions, and exit rules. If a minor member can disaffirm it, every other member is exposed. A minor could commit capital and then reverse course. Transfer restrictions the minor signed could be voided. That instability is why business attorneys generally steer families away from listing a minor as a direct, unsupervised member.
Florida does carve out narrow exceptions. A minor aged 15 or older can independently enter into an insurance or annuity contract and can’t later disaffirm it.4Florida Senate. Florida Statutes 627.406 – Power to Contract; Purchase of Insurance by or for Minor A court can also approve a specific contract under Florida Statute 743.08, which strips the minor’s later right to back out. Neither exception broadly solves the LLC problem.
How a Minor Actually Holds LLC Ownership
There are three common structures. Which one fits depends on how much operational control the family wants, how much court oversight they’re willing to accept, and when the minor should get the interest outright.
Court-Appointed Guardian of the Property
A circuit court can appoint a guardian to manage the minor’s financial and business interests. The guardian acts as a fiduciary and must put the minor’s welfare first. Florida law requires court approval before a guardian can take significant actions with the minor’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
That approval requirement protects the minor but slows business decisions. If the LLC needs to borrow money, sell an asset, or enter a major contract involving the minor’s interest, the guardian has to petition the court first. Other LLC members should know that going in.
Trust Arrangement
A parent or other adult can create a trust naming the minor as beneficiary and transfer the LLC interest into it. The trustee manages the interest under the terms of the trust document, which can grant broad authority without needing court approval for routine decisions. The document also specifies how distributions work and when the minor gains direct control.
Trusts fit well when the goal is to keep the ownership interest intact while giving an experienced adult full operational authority. The trade-off is setup cost and complexity; you generally need an attorney to draft it.
UTMA Custodial Account
Florida’s Uniform Transfers to Minors Act lets an adult custodian hold and manage property for a minor, and LLC membership interests qualify. The custodian has broad discretion to manage the property for the minor’s benefit without a court order for routine decisions, but owes a fiduciary duty and can’t use the property for personal benefit.6Florida Senate. Florida Statutes 710.116 – Use of Custodial Property
Timing is the piece to think through. Custodial property under the standard UTMA provisions must be turned over to the minor at age 21. The person creating the custodianship can extend that to 25, but the minor can still compel full distribution at 21 if the original transfer was an irrevocable gift.7Florida Legislature. Florida Statutes 710 – 710.123 Termination of Custodianship Ask whether the minor will be ready to run the interest directly at that point.
Emancipation: The Direct Ownership Route
A minor who is at least 16 can petition to have the disabilities of nonage removed by a Florida circuit court.8Florida Legislature. Florida Statutes 743 – 743.015 Disabilities of Nonage; Removal Once emancipated, the minor has the legal status of an adult, including the capacity to sign binding contracts and run a business without a guardian.
The petition is filed by the minor’s parent, legal guardian, or a guardian ad litem, and it has to describe the minor’s character, education, income, mental capacity for business, and how they’ll meet basic needs like housing and food. When a parent files, the court appoints an attorney ad litem to independently represent the minor.8Florida Legislature. Florida Statutes 743 – 743.015 Disabilities of Nonage; Removal
Emancipation reaches far beyond business ownership. The minor takes on all adult legal obligations, loses certain child-specific protections, and can’t undo the order. Courts grant it only when convinced it serves the minor’s best interest, so this is a real option only for a teenager with genuine maturity and a legitimate reason.
The Bank Account Problem
Even after the LLC is properly formed, banking can trip families up. Federal anti-money-laundering rules require banks to verify the identity of whoever opens an account, and when the account is opened for someone who lacks legal capacity, the bank collects identifying information from the adult opening it.9FFIEC BSA/AML Manual. Assessing Compliance with BSA Regulatory Requirements – Customer Identification Program So a parent, guardian, or authorized adult will need to be the primary signer on the LLC’s business account. The minor cannot walk in with the Articles of Organization and open it themselves.
Some banks go further and refuse to list anyone under 18 as an account holder on a business account at all. Call the bank before you file if account access matters.
How the Minor’s LLC Income Gets Taxed
The IRS doesn’t care about age. Income allocated to a minor from an LLC is taxable, and someone has to report it correctly.
Pass-Through Income Reported on the Minor’s Return
Most LLCs are pass-through entities: the LLC doesn’t pay federal income tax, and profits and losses flow to each member’s return. For a minor, that income lands on the minor’s own return, not the parent’s, even if the minor never sees the cash. A parent or guardian usually prepares and files it.
For tax year 2026, the standard deduction for a single filer is $16,100.10Internal 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. Anything above the applicable deduction is taxed.
The Kiddie Tax
If the minor’s LLC income counts as unearned income and exceeds $2,700, the kiddie tax may kick in. It generally taxes a child’s unearned income above that threshold at the parent’s marginal rate rather than the child’s. The rule applies to children under 18, 18-year-olds with earned income below half their support, and full-time students ages 19 through 23 in the same situation.11Internal Revenue Service. Topic No. 553, Tax on a Childs Investment and Other Unearned Income (Kiddie Tax) Whether LLC income is earned or unearned turns on how actively the minor participates in operations, which is a conversation for a tax professional.
Self-Employment Tax
If the LLC is a single-member LLC or a multi-member LLC taxed as a partnership, and the minor materially participates, the minor’s share is subject to self-employment tax for Social Security and Medicare.12Internal Revenue Service. Single Member Limited Liability Companies That’s an additional 15.3% on top of income tax, and it catches many families off guard.
There is a narrow family-business exemption. When a child under 18 works for 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.13Internal Revenue Service. Tax Treatment for Family Members Working in the Family Business The exemption does not apply when the business is a corporation or a partnership that includes non-parent partners.14Internal Revenue Service. Family Employees Whether it reaches an LLC depends on how the LLC is classified for tax purposes.
Florida has no personal state income tax, so pass-through profits don’t create a state income tax bill for the minor.
What It Costs to Set Up and Keep Running
Filing the Articles of Organization with the Florida Division of Corporations costs $100. The LLC must file an annual report each year: $138.75 if filed on time by May 1, and $538.75 if filed late. Missing the annual report entirely can lead to administrative dissolution.15Florida Department of State – Division of Corporations. LLC Fees
Beyond the state filings, budget for an attorney to draft the operating agreement (especially important with a minor involved), the trust or guardianship setup, a registered agent if you’d rather not use a home address, and ongoing tax preparation for the minor’s return. Legal setup runs higher than a typical LLC because the extra layers need to be built correctly the first time.