The following table sets forth a comprehensive summary of this state’s LLC laws, filing requirements, taxation and more.
Keep in mind though, that the information in this table is subject to the whim of each state’s lawmakers, so the information is constantly changing.
It’s a good idea to do a reality check with the Secretary of State’s office to confirm that the information is still current.
|Secretary of State Contact Information||Department of Business Services
Illinois Secretary of State
501 S. Second St.
Springfield, Illinois 62756
|LLC Filing and Assistance Website Address||www.sos.state.il.us|
|LLC Filing Fees||The fee for filing Articles of Organization is $500. Foreign LLCs must register by filing an Application for Admission to Transact Business along with a filing fee of $500.|
|LLC Name Reservation Information and Fees||Illinois organizers may reserve a LLC name by filing form LLC-1.15 and paying a $300 fee per reserved name the highest name reservation fee in the nation. The name reservation remains effective for 90 days. Available names can be searched at the Department of Business Services website.|
|Where to Get LLC Formation Forms|| Cyberdrive Illinois
|Periodic LLC Reporting Requirements||LLCs must file an Annual Report (Form LLC-50.1) each year prior to the anniversary date of the LLCs initial filing with the Section. The filing fee is $200.|
|Link to Get LLC Tax Forms||Franchise Tax is reported on the annual report form, discussed above. Income tax forms can be found at http://tax.illinois.gov/Businesses/index.htm|
|LLC Tax Summary||Most LLCs must file an Illinois Partnership Replacement Tax Return (Form IL-1065). The Replacement Tax rate is 1.5% of the LLCs net income. LLCs classified as corporations for federal tax purposes must file an Illinois Corporation Income and Replacement Tax Return (Form IL-1120).|
|LLC Statute||Chapter 805, Subheading 180 of the Illinois Compiled Statutes|
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Michael Spadaccini is the author of 8 books on self-help legal matters such as, Ultimate LLC Compliance Guide: Covers All 50 States (Ultimate Series), Ultimate Book of Forming Corps, LLCs, Partnerships & Sole Proprietorships, and Ultimate Guide to Forming an LLC in Any State, Second Edition (Ultimate Series).
You can view his Amazon Author Profile Here.