If you put a rental in a LLC, do you need a business license?

[Tanner M.]

This will be for a property in Jacksonville, Florida.  I will establish the llc, then buy the property via the llc.  I read some states require you to have a business license. I want to make sure that isn't required in this instance. 

Thank you guys!

[Marty True]

The LLC is first and foremost is for legal protection and also tax sheltering. There are some more granular things to ask here too, like will the LLC be solely for that one property and no other business purpose but to own the property? If so, then you shouldn't need a "business license" (which is an obsolete term now). If you are setting up your REI business and the LLC will conduct general RE business or own multiple properties, then that could change the answer to your question.

Even though the property will be owned by your LLC and even if you have a PM rather than manage yourself, you can elect to have the rental income written to your LLC or to you personally. The "business license" is now called a "Tax Receipt" and you do not pay City/County taxes on rental income in FL.

Disclaimer: I am neither an attorney or tax professional so it may be best to consult one or the other, to determine the best strategy/formation for your case.