The filing fee is $75. If the LLC is waiting until the last minute to file, it's highly recommended to file the report online for rapid processing. Corporation Reinstatement Filing; Driver's License Reinstatement Fees; Emergency Contact Database; International Registration Plan (IRP) License Plates Renewal; LLC Annual Report; LLC Articles of Amendment; LLC Articles of Organization; ... the official website of the Illinois … There is a filing fee for all LLCs in Illinois and your business might need licenses and permits. You can also switch to a new IL Registered Agent later. The LLC has no Illinois income tax filing requirements. You will need to pay a small fee of $25 to do this. The new law amends the Illinois Limited Liability Company Act’s Section 50-10 which pertains to LLC fees. Get an EIN for Your Illinois LLC Through Incfile, Get a Foreign Qualification/Certificate of Authority Through Incfile, Incfile’s Illinois Annual Report Filing Service, Incfile’s Illinois Business License Research Package, Incfile’s Illinois Registered Agent Service, Incfile’s Illinois Certificate of Amendment Service, Incfile’s Illinois Certificate of Good Standing Service, The industry your Illinois LLC operates in (e.g., restaurants will need health permits), The location of your Illinois LLC (state, county or city) (e.g., a license to conduct business from the city of Chicago), The type of business that you run (e.g., healthcare providers must meet HIPAA requirements), Adding, removing or changing an Illinois LLC member or manager, Changing the business address of your LLC, Altering the stated business activities of your Illinois LLC. Who Will I Need to Get Business Licenses and Permits from for My Illinois LLC? While Illinois doesn't prohibit business owners from acting as their own registered agents, many people choose to appoint a professional for the sake of privacy, convenience, and discretion. When you file your IL LLC annual report, you may need to pay a fee. It explores all of these areas for you and provides a comprehensive overview of exactly what your Illinois LLC needs to be compliant. This fee is paid to the Illinois Secretary of State when filing the LLC’s Articles of Organization. An operating agreement is a governing document that outlines the ownership and management structure of an LLC. If you want your IL business to trade under a different name, you can file a form with the Illinois Secretary of State. Articles of Organization - $150 filing fee (plus $100 expedited fee, optional) Articles of Organization for an LLC with the ability to establish a series – $400 filing fee (plus a $100 expedited fee, optional) Every state has different LLC filing fees and filing times. You can find out more on the compliance page for your state. Some of these costs are payable to the Illinois Secretary of State, while others are due to the federal or Illinois government. These are provided by the Internal Revenue Service and you use them when filing taxes, opening a business bank account and paying employees. You can choose to make changes to the template based on your unique requirements. The filing fee for … If you’re looking to maximize your time in the early phases of your business, we recommend checking out Incfile's $99 business license research package. The following expenses are recommended but not required for, If you’re ready to officially form an LLC in Illinois, check out our. This can be done online, by mail, or in-person. Upon forming an LLC, you’ll need to obtain an EIN (or Employer Identification Number)—essentially a social security number for your business. The annual report fee is $250. The Illinois … Click here to find the Limited Liability Company file number. Illinois requires LLCs to file an annual report with the Illinois Secretary of State. of Revenue. Legal business registration—and keeping your business in good standing—involves some necessary expenses. In addition to filing your articles of organization, LLC formation providers offer other services that can help you start your new business faster and more efficiently. Illinois governor Bruce Rauner signed into law Public Act 100-0571, effective December 20th, 2017, which reduces many Illinois LLC filing fees (including new LLC formations and annual report fees) by up to 70%.. "Providing actionable and accessible guides and tools to help you succeed", All federal business licensing requirements can be found on the, To learn about state permits & licenses and get started on the application process, head to Illinois's Department of Financial and Professional Regulation. Depending on the specifics of your Illinois business, you’ll be required to pay certain fees and fulfill different filing requirements. Below we’ll discuss the ongoing costs involved in maintaining an Illinois LLC. That’s why our business license research package is so useful. Make an LLC Operating Agreement Illinois leaves it up to you to decide if you want an LLC Operating Agreement, though it’s highly encouraged to create one. Most states need to file an annual (or other periodic) report with their department of state. Illinois charges a late fee of $75 by mail and $125 online. Each of the services below will make the process of setting up your business easier, but they aren't required. Do I Need to Pay a Franchise Tax Report Fee Every Year? The first phase for Illinois … If you’d prefer not to apply for your EIN directly through the IRS, you can delegate this task to your formation provider for an extra fee. Some businesses will be required to pay ongoing maintenance costs and taxes. These business permits and licenses might be issued by Illinois , regional or federal organizations. There are two options for forming your LLC: HAVE A PROFESSIONAL SERVICE FORM AN LLC FOR YOU. LLC registrants are required to complete and submit Articles of Organization with the Secretary of State Department of Business Services. It’s free for the first year if you incorporate with us, and $119 a year after. For more information on Illinois … Only $0 + state fee to launch your business. Expedited processing (typically 1 business day) is also available for an additional fee. To create your business in Illinois, you’ll file an LLC with the IL Secretary of State and pay an associated LLC formation fee. Incfile provides a complete Foreign Qualification service for any state. Fees. The cost to start an Illinois limited liability company (LLC) is $150. Two of the most popular add-on services for LLC owners are operating agreements and EIN registration. To start an LLC in Illinois, you’ll need to do three things: appoint a registered agent, choose a name for your business, and file Articles of Organization with the Department of Business Services, Limited … In order to form an LLC in Illinois, you'll be required to file the articles of organization with the Secretary of State. Illinois LLC Legal Requirements & Fees Depending on the specifics of your Illinois business, you’ll be required to pay certain fees and fulfill different filing requirements. Reports can be filed starting 60 days prior to the due date. It will take a few more … Start Your LLC Today for $0 + State … The report is essentially updating your registered agent address and paying a $250 fee for filing online or a … These are typically necessary if you have a physical presence, employees or banking in a different state than Illinois. https://www2.illinois.gov/rev/localgovernments/Pages/replacement.aspx. The fee for filing by mail is $250 and $300 for filing online. If you decide that electing a professional is right for your LLC, we recommend ZenBusiness. $250 per Series LLC plus $50 per cell ‍As you can see, if you have 2 businesses the Series LLC is already more cost-effective from a Secretary of State perspective than filing 2 LLCs. If your … If you need to prove you have met your commitments, you will need a “Certificate of Good Standing” from the Illinois Secretary of State. If you’re expanding your Illinois LLC beyond the borders of the state, you will need a Foreign Qualification or Certificate of Authority to operate in another state. Their registered agent services are free for the first year and $119 every following year. There are several other fees or requirements that you may need to meet during the life of your Illinois LLC. our business formation documents state certain facts about your Illinois business when it was originally formed. In some unusual circumstances, there may be other one-off, periodic or ad hoc fees not listed above. For example, if the LLC is treated as a sole proprietorship for federal tax income tax purposes and its income is reported on its owner's U.S. Form 1040, U.S. It’s simple. It normally takes 3-4 weeks for the LLC paperwork to be approved in Illinois. Step 3. $150 filing fee / $75 annual report; 1.5% PPR Tax; Starting Your Illinois LLC. We’ll walk you through the entire process. Keep in mind that if you assume this role, you’ll be responsible for maintaining normal business hours at the address provided on your formation documents, and receiving service of process notices in the event that your LLC is sued. A limited liability company that provides professional services and requires registration with the Department may convert to a professional limited liability company by filing the appropriate forms with the Secretary of State. to find out about the licensing requirements of your specific county/municipality. We’ve summarized the most common requirements and fees here. The state of Illinois charges a $150 … If you’re ready to officially form an LLC in Illinois, check out our step-by-step guide. Some of the associated fees only need to be paid once, while others have ongoing charges. There may be a filing fee and a franchise tax fee. A registered agent is the individual or business entity responsible for receiving and processing legal documents on behalf of your business. You can get one yourself at no cost from the IRS or have Incfile obtain one on your behalf. Online services like ZenBusiness ($39 + State Fee) and LegalZoom ($79 + State Fee) will take care of the filing process on your behalf for a fraction of the cost of a business attorney. Usually, yes. Should you decide to submit the articles online, … Illinois LLCs are required to pay 1.5% of their net income to the IL Dept. You'll need to designate a registered agent for your Illinois LLC when you complete the articles of organization. Initial LLC Filing Fees – $150 . In addition, LLCs will be dissolved after 180 days for failure to file an annual report. Every Illinois LLC is required to have a … Illinois Filing Fee: $150 In order to form an LLC in Illinois, you'll be required to file the articles of organization with the Secretary of State. For complete … Find more details below. We charge you for this fee at cost and then pay the fee to the Secretary of State on your behalf when forming your Illinois business. When the state processes and accepts the Articles of Organization, the LLC officially forms. While it’s possible to form an LLC in Illinois without the help of a professional, many business owners choose to hire a service. The fee to organize a Series LLC used to be $750, as opposed to the $500 fee for a Traditional LLC. You will need to pay an Illinois filing fee. The extra $50 is added … Most states require you file a report for your LLC every year. Note that Illinois business licenses and permits might need to be paid when you first form your business, on an ongoing schedule or on an ad hoc basis. You can research these permits and licenses yourself or use Incfile’s Business License Research Package, which includes: A complete report on all the licenses, permits and tax registrations your Illinois LLC will need, The application forms you will need to file with the Illinois, regional and federal licensing authorities. An Illinois limited liability company is formed by submitting in duplicate the Certificate of Organization for Limited Liability Company, LLC-5.5 and paying the filing fee to Illinois Secretary of State, Department of … Here are the annual filing requirements for Illinois: Your Illinois LLC may need certain licenses and permits to comply with specific requirements. Use the resources below to find out what permits & licenses are required of your business, or have a professional service do the legwork for you: The following expenses are recommended but not required for Illinois LLCs. However, once you have a Series LLC started, you can file a Certificate of Designation, and pay a $50 filing fee … In Illinois, an annual report is a regular filing that your LLC must complete every year. View up to date information on Illinois’ Covid-19 vaccine plan and vaccination eligibility from the State of Illinois Coronavirus Response Site This website will be undergoing maintenance from 10pm Saturday … Filing Fees: At the time of the writing of this article, the Illinois Secretary of State’s fee for processing Articles of Incorporation for a Corporation is $181.25. Recurring Fees – $75 Annual Report Fee. Your Illinois LLC needs a Registered Agent, which must be appointed when you first incorporate your LLC. Areas you might want to file an Illinois Certificate of Amendment for include: Some organizations will request that you prove your Illinois LLC’s compliance with laws and tax requirements. . The fee for processing Articles of Organization … You will also need to complete an “Application for Authority to Transact Business in Illinois” (Form BCA 13.15). Whether you’re starting a single-member or multi-member LLC in Illinois, it’s important to have an operating agreement in place. Have Incfile do all the paperwork for you for free. It is due each year prior to the first day of the month in which the LLC was formed. Filing a report late (more than 60 days after due date) incurs an additional $100 penalty. Illinois is one of the states that does not require you to have an operating agreement—but it can still be extremely helpful in making sure you’re organized and prepared. Illinois requires LLCs to file an annual report during the 60-day period before the first day of the anniversary month of the incorporation date. Registered Agent Service: $0-$125 per year. Doing business in Illinois just gets better! You can do this yourself or have Incfile complete the filing on your behalf. Please Enter a Limited Liability Company File Number. Without this document, Illinois will not recognize the LLC as a legitimate business. Starting an Illinois LLC? Although it may seem complicated, the process to start an LLC in Illinois is much less difficult than you think. Every Illinois LLC should have a unique employer identification number (EIN). The state of Illinois charges a $150 fee to process and record this document. Here is the current information for Illinois: When you form your IL LLC through Incfile, we automatically charge you this fee and forward it to the Illinois Secretary of State when we file your incorporation paperwork. Sales and Use Taxes. Purchasing a custom operating agreement from an online formation service is an easy way to ensure you’ll have a thorough and legally-binding document governing your new LLC. There shall be no fee … While not necessary for every business owner, these services can be helpful to busy entrepreneurs looking to save time on the research and paperwork. If your LLC requires several federal, state, and local permits or licenses in order to legally operate, you might want to consider hiring a professional business license research service. There is a filing fee for all LLCs in Illinois and your business might need licenses and permits. Illinois LLC Costs . Remember that operating your business without the required licenses can expose you to risks and fines from federal, Illinois and local governments. Incfile Can File Your Incorporation Paperwork for You for Free, Some States Allow You to Form Your LLC More Quickly by Paying a Rush Fee, Incfile Can Also Complete and File Your Illinois Public Information Report on Your Behalf, If You’re Interested in Having Your Operating Agreement Created for You, Incfile Can Draft a General Operating Agreement Template When You Choose to Form Your Illinois Business, Incfile Can File Your Fictitious Name / DBA Forms on Your Behalf, Have Incfile Serve as Your Registered Agent for You, Incfile Can Obtain a Certificate of Good Standing on Your Behalf. LLC Processing Time . What Happens to the State Fees That I Am Charged When Forming My Illinois LLC? These ad hoc fees will only be payable in specific circumstances, which we’ve listed below. Establishing individual series requires an additional state filing called the Illinois LLC Certificate of Designation (Form LLC-37.40), which must be filed for each series within your Series LLC that you wish to form. An Operating Agreement is a business document that covers how the business will be run, how managers and members are chosen, rights and duties of members and several other key areas. Over time, these facts might change — if they do, you need to file “Articles of Amendment” (Form BCA 13.15) with the Illinois Secretary of State. The fees listed above detail all the charges that a standard IL LLC will be required to pay. Of course, your Illinois LLC will also probably need to pay self-employment, payroll, federal, state and sales taxes, but we will cover that when we talk about taxes for IL LLCs. Taxes. We’ll walk you through the entire process. The report can be filed online or by mail with Form LLC-50.1. 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