Under State Law: Florida Car Dealers: affiliate Dealer License
FLORIDA CAR DEALERS LICENSE: Affiliate Dealerships are setup as Limited Liability Companies (LLC's), within the state of Florida. One person is listed as the manager and is responsible for the daily operations of the dealership. Individuals are then added as members and listed with the Secretary of State.
This affiliate structure affords each member all the legal rights associated with the LLC, including the right to buy and sell cars for a profit. Each Florida Car Dealers Affiliate is properly setup, maintained and meets all state level requirements to operate as a LLC.
IRS: Florida Car Dealers Affiliate License
Every Affiliate within Florida Car Dealers maintains accurate bookkeeping records in accordance with GAAP
(The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information.) All member's sales are registered and reported to the Internal Revenue Service (IRS). All of the LLC's within Florida Car Dealers system accept partnership status, both with the Secretary of State and the IRS. This allows for all income generated by each member to flow directly to the individual for tax reporting purposes. Each member opens and maintains a corporate bank account under the A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. Number of the LLC and uses that bank account to conduct his or her used car business. A tax return is filed each year at the company level with each affiliate being responsible for there own tax return separately.
Integrity: Florida Car Dealers Affiliate License
Every Florida Car Dealers Affiliate used car dealership meet's all the legal requirements, as mandated by the Florida Department of Motor Vehicles, for obtaining a used car dealer license. Dealer courses or testing that the manager or members are required to take, any bond or insurance requirements, as well as any location requirements. Florida Car Dealers works closely with all of our affiliate Used Car Dealerships to ensure their compliance with all DMV's regulations and laws. Each member is required to follow state statues and laws when conducting their business and are promptly removed from the used car dealer license if any violations occur on their behalf.all used car sales are conducted in accordance with any and all governing laws.
Associate Forms Needed To Process Used Car Transactions (Login Required)