Creating An Llc In Illinois – Get fast and simple services to quickly and accurately file your Illinois LLC online, with prices starting at $0 plus state fees
Are you ready to start your own business as a limited liability company (LLC)? Illinois is a great place for this. With its large population, high-quality universities and vibrant culture, this country offers many opportunities for ambitious entrepreneurs.
Creating An Llc In Illinois
To form a limited liability company in Illinois, you must follow certain steps. If you want to get protection from LLC liability while avoiding costly penalties or delays, you need to complete these steps carefully and accurately.
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However, the thought of trying to start a business does not mean that someone can call the name of your state “Or-
Along the way, we’ll even explore how our services can handle much of this process for you and help cut red tape. This way you can focus on what you do best: running your business.
To form an LLC, you must register your business with the Illinois Secretary of State. This involves filing formation documents known as Articles of Incorporation. However, before you can file these formation documents, you must name your business and appoint a registered agent.
After you complete your Articles of Incorporation, you will also need to create an LLC Operating Agreement. Finally, you will set up with the Internal Revenue Service (IRS) by obtaining an EIN.
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Below we’ll show you how to form an Illinois LLC in five basic steps. We will also include lots of useful information to help you set your new business up for success.
Note that these instructions apply to a domestic LLC operating in your state of residence. A foreign LLC is an LLC that originates from another country. To register a foreign LLC in Illinois, you must file an application for admission with Transact Business and follow another process.
The first step is to name your Illinois LLC. Your business name gives potential customers and investors the first impression of your brand. Make sure you choose a name that conveys the image you want to project and that you’ll want to stick with long-term.
In addition to choosing an appropriate name for your brand, you must also follow the Illinois LLC naming rules and requirements.
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Under Illinois state law, an LLC name must contain one of the following identifiers (separate and distinct from any other words or abbreviations):
Unlike most states, Illinois requires LLC business names to be “Ltd.” Note that it does not allow the inclusion of shortcuts. or “Co”.
The name of your LLC also cannot have a name that sounds like a corporation or limited partnership. This means that the words “Corporation,” “Co.,” “Corp.,” “Incorporated,” “Inc.,” “Limited Partnership,” or “LP” are not allowed in your business name.
Your business name must be different from other business names registered with the Illinois Secretary of State. Use our Illinois business entity search page to check online to see if your desired business name is available. (Note: In Illinois, the name of an administratively dissolved LLC cannot be used by another business until three years have passed from the date the notice of dissolution was issued.)
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Your Illinois LLC name cannot contain words or phrases that imply it is a government agency or is organized as:
Finally, the use of any words that could be considered offensive is prohibited in the Illinois LLC name. Consult the Department of State’s Business Services Division for additional naming guidelines.
Found the perfect business name but not ready to start your LLC yet? Instead, you can reserve your name for up to 90 days. This way, no one else can take it before you’re officially ready to get in shape.
Much of running a successful brand today is available online. So it’s a good idea to make sure the name you want is also available as a URL.
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For example, if your first choice of business name is not available as a domain, but your second choice is, this may influence your decision. Need inspiration or want to check domain availability? Use our domain search tool.
Note: You may also want to check for existing social media usernames that match your desired business name and record them before someone else does.
If you want to operate under a name other than your official company name, you will need an Illinois assumed business name. Standard business names must also be registered with the State Department.
A fictitious business name is often used when an LLC wants to do things like sell/launch new product lines or open a store without having to create an entirely new business entity.
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Note: Standard business names are also known as doing business as (DBA) names, fictitious business names or trade names in other states.
Even if the State Department’s database shows that the LLC name you want is available, that doesn’t mean you’re open to using it. Business names can be registered as trademarks at both the state and federal levels.
So it’s also a good idea to check with the US Patent and Trademark Office. By using the website’s search engine, you can check if the name you want is already federally protected.
All LLCs in Illinois must have a registered agent. A registered agent is an individual or business entity who receives important legal notices on behalf of your business.
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You can legally serve as the registered agent of your own LLC, but there are several reasons why this may not be the best idea. Just two of the pitfalls are:
Many LLC owners choose to use a professional registered agent service. The benefits of registered agent services like ours include:
A professional service can go a long way in giving you peace of mind and more freedom to focus on running your business. Use our Illinois registered agent services to keep your LLC organized and in compliance with state requirements.
If the registered agent’s office address cannot be reached, you may incur the wrath of the state. Not having a registered agent can even result in the forced dissolution of your LLC.
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Not having a registered agent confidential address on file may also result in you not receiving notice that your business is being sued or that legal action is being taken against your business.
That’s why acting as your own registered agent or asking a friend or family member to do so can be risky.
To avoid problems with your registered agent’s address, many business owners choose to use professional registered agent services. When you sign up for our registered agent service, our registered agent partners will always be ready to receive important legal, tax and other government notices on behalf of your LLC.
Using our services will not only help you comply with Illinois registered agent requirements, but will also allow you to avoid the embarrassment of receiving a legal notice in front of others.
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Finally, our registered agent services will help you stay organized. When you receive notifications, we’ll let you know quickly so you can manage them as you see fit (by viewing, downloading or printing at any time).
The next step is to file the Articles of Incorporation. Your Illinois Articles of Incorporation (Form LLC-5.5) are the formation documents that officially record your LLC. To form your LLC, you will file these documents with the Illinois Department of State, Division of Business Services, Division of Limited Liability, and pay your filing fee ($150 at the time of this writing). You can submit your Articles of Incorporation by mail, in person, or by completing the online application.
Illinois requires that the entire Articles of Incorporation be submitted in duplicate and that all responses be typed or printed in black ink.
LLC can be formed by one or more organizers. The organizer can be a person over 18 years old or a business entity. Each individual acting as an organizer must sign the Statute. The name of each organizer should also be written or printed in the correct section.
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If the business organization acts as organizer, the full name of the business must be provided, as well as the typed or printed name and signature of the person acting on behalf of the organization.
It usually takes about 10 days for the Secretary of State to process and approve the Illinois Articles of Organization. However, for an additional fee, you can expedite your application to 24-hour service (excluding weekends and holidays).
You only need to file your Articles of Incorporation once. However, if you need to make changes later (such as changing the address of your registered agent), you will need to file an LLC Articles of Amendment.
If you need to submit an amendment, we have an amendment submission service that can handle this for you as well. Our worry-free compliance service also includes two change submissions per year.
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Under current state law requirements, any LLC providing professional services located in Illinois and licensed by the Illinois Department of Financial and Professional Regulation (IDFPR) must now register as a professional.
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