It’s time to renew your Illinois corporation annually by filing a Corporate Annual Report form. The state distributes this by mail and email. The filing fee is $100 for corporations and $75 for LLCs.
Reinstatement and Dissolution
An administratively dissolved corporation may reinstate by paying $200, plus delinquent fees. To distribute assets, file a statement mentioning provisions. To dissolve a partnership, file a statement and pay debts. File the Application for Reinstatement form and franchise taxes owed to reinstate a corporation. To dissolve a corporation, shareholders file consent. To dissolve a corporation or an LLC, submit the Articles of Dissolution form. To end an LLC, owners approve then file the Certificate of Dissolution. LLC registrations last 5 years.
Business Operations
LLCs also file annual reports in Illinois. Multi-member LLCs take distribution draws. To use an assumed name, file Form LLC-1.20. Visit Illinois offices to close a business and discuss tax liabilities. Applying for an EIN is free. PINs are on MyTax Illinois.
Frequently Asked Questions
How do I reinstate a corporation in Illinois?
To reinstate a corporation, you must submit the Application for Reinstatement and pay any owed franchise taxes.
How much is Illinois corporate annual report?
The filing fee for the Illinois corporate annual report is at least $100.