Overview of Illinois Certificate of Good Standing
In Illinois, a certificate of good standing verifies that you’re a legally registered business entity that is up to date on all filings and fees and permitted to do business in the state. Obtaining and maintaining Illinois Certificate of Good Standing is an indispensable step in this journey. It is a testament to your business’s credibility and commitment to upholding state regulations.
Importance of Business Compliance in Illinois
Although launching a business in Illinois is an exciting undertaking, you must realize that adhering to state laws is critical to the stability and long-term success of your company. Following all state regulations, including those pertaining to business licenses and taxes, is essential to ensuring that your company remains in good standing in Illinois.
Reasons for Loss of Good Standing
A business entity can lose its good standing for several reasons. Failure to file a required document, such as an annual report or renewal form, and failure to pay various types of state business taxes or fees are common causes. In many states, a company that is not in good standing cannot file a lawsuit until good standing is restored.
Obtaining and Maintaining Illinois Certificate of Good Standing
An Illinois Certificate of Good Standing can be valid up to a year depending on the requirements of the requester. To obtain one, your company must be registered as a legal entity with the Illinois Secretary of State, and cannot be in default of Illinois corporate rules. The certificate is signed by the Secretary of State and bears the official Seal of Illinois. It can be presented in a courtroom to prove one or more facts relating to an organization’s standing.
Verifying Business Entities in Illinois
Business Entity Name Search
To verify a business name in Illinois, you’ll have to conduct a business availability search. You can use the Illinois SOS official search tool or a free business entity name search service like Swyft Filings. Registering a business in Illinois by following specific steps for business registration is essential for maintaining compliance with state regulations.
Foreign Corporation Registration
In order to register as a Foreign Corporation in the state of Illinois, you must first prove that you are registered in another state as a Domestic Corporation. The state of Illinois requires a certified copy of the formation documents from the home state of the Foreign Corporation, usually called Articles of Incorporation.
Additional Resources
- Illinois Department of Revenue: The department is dedicated to safeguarding tax dollars and ensuring correct refund amounts, implementing new security measures to verify refunds accurately.
- Illinois Secretary of State Business Entity Search: This function of the Secretary of State website allows users to find Illinois corporations and LLCs by name, keyword, partial word, or file number, as well as partnerships. Searching for a business entity with an Illinois business entity search is free of charge for all users.
- CPA License Verification: Verification of a CPA license can be done through the State Board of Accountancy or tools like NASBA CPA Verify.
Frequently Asked Questions
How to Look Up an LLC in Illinois?
Visit the Illinois Secretary of State’s website to look up an LLC in Illinois.