Cost to Incorporate in Illinois
- State Fee: $125.00
- Franchise Tax: $1.50 per $1,000 of paid-in capital
- Expedited Filings Fee: Additional
Process of Incorporation in Illinois
To officially incorporate your business in Illinois, you need to file the Articles of Incorporation with the Illinois Secretary of State. This document includes essential details about your business, such as its name, purpose, registered agent, and initial directors.
Additional Details and Requirements
- Total cost to incorporate a business in Illinois ranges from $175 to over $1000.
- Filing cost for Articles of Incorporation: $150.
- Minimum cost for franchise tax: $25.
- Retail businesses must collect sales tax and register with the Illinois Department of Revenue.
- Completion of the REG-1 State of Illinois Business Registration Application is mandatory.
- Annual report filing fee for LLCs: $75.
Registration and Other Considerations
- Rough initial business setup cost in Illinois: $75 – $215.
- If your business is in another state, filing a foreign qualification with the Illinois Secretary of State is necessary.
- You can act as your own Registered Agent in Illinois.