If you want to form a business entity that earns a profit, but limits taxes and personal liability, you may want to consider forming a Limited Liability Company (LLC). LLCs also have the same powers afforded to a corporation. Forming an LLC in Illinois is easy, fast, and affordable.
| Illinois LLC Costs | |
|---|---|
| TotalLegal Fee | $99 |
| Illinois Filing Fee | $153.38 |
| Total | $252.38 |
The name of the limited liability company must contain the words “limited liability company” or the abbreviation “L.L.C.,” or “LLC”. The LLC name may consist of letters of the English alphabet, Arabic or Roman numerals, or symbols capable of being readily reproduced by the Office of the Secretary of State. The word "trust", "trustee", or "fiduciary" may be used by a limited liability company only if it has first complied with Section 1-9 of the Corporate Fiduciary Act.
You will need to provide the name of your LLC, the address of the LLC's principal office, the business purpose, the Registered Agent's name and physical address, and the name of the member(s) (the owners of the LLC).
When approved, TotalLegal will upload your Articles of Organization to your account, and send you an email letting you know you are approved to do business in Illinois.
It's not hard at all. Each Illinois LLC is required to file an annual report. The annual report is due each year in the month your LLC was initially formed. The annual fee is $300, and the fee can be completed and paid easiy online.
Making changes to your LLC in Illinois is pretty inexpensive compared to other states. Most changes you need to amend your LLC and/or change your Registered Agent can be done online and range from $50-$100.
TotalLegal provides your LLC with a free Operating Agreement. Since your approved LLC's Articles of Organization do not list the owners (members) of the LLC, having all of this information in your Operating Agreement will make opening a bank account for your LLC in Illinois very easy.
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