Initial Formation
To form an Illinois LLC, you will need to file the Articles of Organization with the Illinois Secretary of State, which costs $150. You can apply online or by mail. The Articles of Organization is the legal document that officially creates your Illinois limited liability company.
Annual Compliance
Every year, LLCs must file an Annual Report and pay a $75 fee to keep the Illinois LLC in compliance and in good standing with the Illinois Secretary of State. Additionally, as an owner of an LLC, you’ll generally pay yourself through an owner’s draw, transferring a portion of the business’s cash reserves to you for personal use.
Dissolution
To dissolve/terminate your domestic LLC in Illinois, you must submit the completed form LLC-35-15, Statement of Termination in duplicate to the Illinois Secretary of State by mail or in person, along with the filing fee.
If you don’t renew your LLC in Illinois, it can be involuntarily dissolved.