On the paid-in capital represented in this state, the franchise tax is $1.50 per $1,000 of paid-in capital. For a fee of $25, you may reserve your company name with the Illinois Secretary of State’s office. Depending on your state, the cost of incorporating ranges from $45 to $300.
Before hiring any employees or making any sales or purchases, you must complete the REG-1 State of Illinois Business Registration Application with the Illinois Department of Revenue. It is illegal to run a business without a license, but the extent of the legal infraction varies depending on the location, industry, and licensing requirements.
Just ensure your LLC name complies with the Illinois naming requirements and isn’t already being used by another business. A DBA is filed with the county in Illinois, so the cost of a DBA will vary depending on where your LLC does business.
You will need to file the Illinois Articles of Incorporation to set up a corporation in Illinois. You can file it online, by mail, or in person with the Illinois Secretary of State. The filing cost is $150. This document will cover the basics of your corporation.
If you are a retail business, you must collect sales tax and register with the Illinois Department of Revenue. The registration is free. All LLCs in Illinois must file an annual report with the Secretary of State. The annual filing fee is $75.
Illinois has a range of incentives for new business owners. When you’re ready to join the ranks of entrepreneurs in the prairie state, create a business plan.
The state of Illinois charges a $150 filing fee for the Articles of Incorporation, plus an initial franchise tax with a minimum cost of $25. There is a 10-day filing time, and an optional $100 expedite fee if you’d like your Articles of Incorporation to be reviewed within 24 hours.
In Illinois, state fees can vary depending on the type of entity you choose to form. Expect to pay roughly $75 – $215 to start a business in Illinois. If your business is located in another state, and you would like to register in Illinois, you will need to file a foreign qualification with the Illinois Secretary of State. You can act as your own Registered Agent in Illinois.
Businesses in Illinois need to be registered, but there is not a general business license. Instead, specific types of businesses and industries require permits or licenses to operate.
How much does it cost to incorporate in Illinois with MaxFilings? High volume allows MaxFilings formation specialists to prepare and file necessary paperwork very economically.
Working with business experts in the state, we’ve spent the past four weeks looking into the Illinois LLC formation process to learn what documents you need to file and how much they cost. Here’s a breakdown of all the essential filing costs that you should anticipate during the process:
- Illinois LLC Initial Registration: $150
- Illinois Corporation Initial Registration: $150
- Annual Report Filing Fee: $75
You can get an LLC in Illinois approved in 5-10 business days if you file online. Filing by mail takes about 7-14 business days (plus mail time).
The Illinois Secretary of State charges $150 to file the Articles of Organization. You can reserve your LLC name with the Illinois Secretary of State for $25.