When you decide to start a limited liability company (LLC), you can choose to form your company in any state, regardless of where you are based. But in most circumstances, your home state is going to be your most-effective option.

Should I incorporate in Illinois?

It makes sense for you to incorporate where you’re going to do business. If you’re not doing business in a state, there’s generally little sense in creating a domestic or foreign LLC there. If you live or do business in Illinois, you should form a business with the Illinois Secretary of State.

How much does it cost to incorporate in Illinois?

Illinois Corporation Incorporation: $150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online. Franchise tax is calculated as $1.50 per $1,000 on the paid-in capital represented in this state.

What is the annual fee for an LLC in Illinois?

$250
Illinois requires LLCs to file an annual report during the 60-day period before the first day of the anniversary month of the incorporation date. The annual report fee is $250. Taxes. For complete details on state taxes for Illinois LLCs, visit Business Owner’s Toolkit or the State of Illinois .

How to form a limited liability company in Illinois?

Forming an LLC in Illinois Is easy. 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.

Do you have to file Articles of incorporation in Illinois?

Bylaws cannot be inconsistent with your corporation’s articles of incorporation or Illinois law. Costs of Incorporating in Illinois. The Illinois Secretary of State requires a fee when filing articles of incorporation or reserving a corporation name. When the articles are filed, an initial franchise tax is also due.

How to register a foreign LLC in Illinois?

Register as a Foreign LLC in Illinois. Forming a foreign LLC allows your company to operate as one entity in multiple states. If you have an existing LLC and want to do business in Illinois, you will need to register as a foreign LLC. This can be done by mail.

Do you need a bylaw to form a corporation in Illinois?

Bylaws are required, and they may be adopted by the board of directors or the shareholders. Bylaws cannot be inconsistent with your corporation’s articles of incorporation or Illinois law. The Illinois Secretary of State requires a fee when filing articles of incorporation or reserving a corporation name.