Illinois LLC

Are you a young entrepreneur looking to open your first business in Illinois? If so, you should do so under the LLC structure.

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Filing a Illinois LLC

When creating your first business, you’ll find that there are a few different corporate structures from which you can choose. However, forming an Illinois LLC is likely to be most beneficial. Not only is it relatively easy to create an Illinois LLC, but doing so could protect owners from liabilities related to the business.

Steps To Filing a Illinois LLC

Choose A Name

Once you’ve decided that you would like to form an Illinois LLC, you’ll need to choose a business name. The state of Illinois requires owners to include an indicator in their title like, “Limited Liability Company,” “L.L.C.,” or something similar. Additionally, potential owners will want to ensure that the name they’ve chosen is not already in use. To do so, they can use DoMyLLC’s Name Availability Check Page.

Choose A Registered Agent

Illinois LLC owners are also required to keep a registered agent on file with the Secretary of State’s office. The registered agent is an integral part of the company’s operations, as they are responsible for accepting legal correspondence on behalf of the business and passing it along to the entity’s owners. Because of how important this role is, many Illinois LLC owners opt to hire a third-party company like DoMyLLC. Learn more here.

File Articles Of Organization & Pay Filing Fees

After securing a name and registered agent, prospective owners can begin filing the Articles of Organization. Additionally, they must pay a filing fee of $150 to file this document. Some of the information necessary includes:

  • The company name and address of the principal place of business where records will be kept
  • The effective date
  • The registered agent’s name and registered office address
  • The purpose for which the LLC is organized
  • Dissolution date, if desired
  • Name and business addresses of the managers
  • Signature of the organizer who completed the document

File Initial Report

Illinois LLCs do not have to file an Initial Report, but owners should pay attention to future annual reporting deadlines.

Create An Operating Agreement And Hold Meetings

New LLC owners should draft an operating agreement, which will outline their organizational structure and how they will conduct meetings. Once in place, the business can begin holding meetings.

Obtain Employer Identification Number

Business owners must also obtain an Employer Identification Number from the IRS. This number not only allows the business to file taxes, but it also allows owners to secure a bank account for the company.

File State Required Annual Reports

Each year, Illinois LLCs must file an Annual Report with the Secretary of State’s office. The form is due before the first day of the registration anniversary month. There is a filing fee of $75 to do so, although companies can expedite their submission for an extra $50. If not filed within 60 days of the due date, businesses are subject to a $300 penalty. Owners can learn more about Illinois LLC requirements here.

Ongoing Maintenance

Illinois LLC owners are also responsible for filings that help keep them operational. Examples include having to file federal, state, and local taxes each year and having to secure business licenses and permits.

How DoMyLLC Can Assist With Streamlining The Process

When it comes to your Illinois LLC, DoMyLLC is the company you can trust. No matter if you need help starting your business or running things smoothly, we are here for you with services such as:

  • Name availability check
  • Articles of Organization preparation
  • Filing of the Articles of Organization with the Secretary of State’s office
  • Sample documents, including a sample Operating Agreement, meeting notices, and meeting minutes
  • Dedicated account manager
  • Unlimited customer support

If you’re interested in learning more about the services DoMyLLC can offer and how we can help you grow a successful business, be sure to contact us today.