How is a single-member LLC taxed in Florida?

By default, the IRS treats it as a disregarded entity, so profit is reported on your personal return on Schedule C. You pay federal income tax plus self-employment tax. Florida has no personal income tax, so there's no state income tax on that profit.

Does a Florida single-member LLC pay Florida corporate income tax?

Generally no. A single-member LLC owned by an individual and treated as a disregarded entity isn't subject to Florida corporate income tax. That changes if the LLC elects to be taxed as a C-Corporation.

How much self-employment tax does a single-member LLC pay?

15.3% on 92.35% of net profit: 12.4% Social Security up to the annual wage base ($184,500 for 2026) plus 2.9% Medicare on all of it, and an extra 0.9% Medicare above $200,000 single or $250,000 married filing jointly.

Do I need to make quarterly estimated payments?

Usually yes, if you expect to owe $1,000 or more in federal tax for the year. Payments are due in April, June, September, and January.

When should a single-member LLC elect S-Corp status?

Often once net profit is consistently above roughly $50,000 to $80,000, because the self-employment tax savings start to outweigh payroll and accounting costs. Your income, salary, and QBI deduction determine the real answer.

Single-Member LLC Taxes in Florida, Explained (2026)

Florida has no state income tax, but a single-member LLC still owes federal income tax and 15.3% self-employment tax on its profit. Here's exactly how SMLLC taxes work, and when an S-Corp election changes the math.

"I formed an LLC, so how do I pay taxes now?" It's one of the most common questions new Florida business owners ask. The short answer: forming a single-member LLC (SMLLC) gives you liability protection, but by default it doesn't change your federal taxes at all.

The Default: A Disregarded Entity

The IRS treats a single-member LLC owned by an individual as a disregarded entity. For income tax purposes, the LLC doesn't exist separately from you:

Business income and expenses go on Schedule C of your personal Form 1040.
Net profit is subject to federal income tax at your personal rates.
Net profit is also subject to self-employment tax.

The Florida Advantage

No personal state income tax. Your SMLLC's profit isn't taxed again at the state level, unlike California or New York.
No Florida corporate income tax for a disregarded SMLLC owned by an individual.
You still pay the $138.75 annual report fee each year. See our annual report guide.

Self-Employment Tax: The Big One

Self-employment tax is how self-employed people pay Social Security and Medicare. It's calculated on 92.35% of your net profit:

12.4% Social Security up to the wage base ($184,500 for 2026)
2.9% Medicare on all of it
0.9% Additional Medicare above $200,000 (single) or $250,000 (married filing jointly)

On $100,000 of profit, that's roughly $14,100 in self-employment tax before income tax. You get to deduct half of it on your return, but it's still often the largest single tax bill a new owner sees. See your exact number with our self-employment tax calculator.

Deductions That Lower the Bill

Ordinary business expenses: software, equipment, marketing, professional fees. See tax write-offs for Florida small business owners.
Home office deduction if you use part of your home regularly and exclusively for business.
Self-employed health insurance deduction for premiums you pay.
Retirement contributions to a Solo 401(k) or SEP-IRA. See Solo 401(k) for the self-employed.
QBI deduction of up to 20% of qualified business income, subject to limits. See our QBI guide.

Quarterly Estimated Payments

No employer withholds tax for you. If you expect to owe $1,000 or more for the year, the IRS expects estimated payments in April, June, September, and January. Skipping them leads to underpayment penalties. See our quarterly estimated tax guide.

When an S-Corp Election Changes the Math

An SMLLC can elect to be taxed as an S-Corporation. Then you:

Pay yourself a reasonable salary through payroll (subject to payroll tax)
Take the rest as distributions, which aren't subject to self-employment or payroll tax

For profitable owners, that split often saves thousands a year. It also adds payroll, a separate business tax return (Form 1120-S), and more bookkeeping. Read how to set a reasonable S-Corp salary and compare scenarios in our S-Corp calculator.

Quick Example

A Fort Lauderdale consultant with $150,000 in net profit as a default SMLLC owes roughly $21,200 in self-employment tax plus federal income tax. As an S-Corp paying a $75,000 salary, payroll tax on the salary is about $11,500, before payroll costs and the effect on the QBI deduction. Your numbers will differ; that's what the calculators are for.

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