FAQ: How To Register Your Business Name In Illinois?

How much does it cost to register a business name in Illinois?

Top 5 Tips on Registering a Business in Illinois Forming an LLC costs $500 and a $250 annual fee. The fee for a corporation varies, but is usually $125 to start and $100 annually.

How do I register a business name in Illinois?

Registering a business name in Illinois is done when you form your business entity (LLC or corporation) with the state. You must first choose your business structure, then do a business name search to ensure name availability. Afterward, you must form your entity with your business name with the state.

What is the first step in registering your business?

How to Register a Business

  1. Choose business structure. The first step is to decide on a business structure.
  2. Find a location.
  3. Register your business name.
  4. Register with the IRS.
  5. Register with state and local agencies.
  6. Apply for licenses and permits.
You might be interested:  FAQ: Who Is The Representative Of Illinois?

How much does an LLC cost in Illinois?

Registration costs. Forming an LLC in Illinois involves filing articles of organization with the Secretary of State, and paying a registration fee of $150. Illinois LLC annual fees are $75.

How long does it take for an LLC to be approved in Illinois?

It normally takes 3-4 weeks for the LLC paperwork to be approved in Illinois. Expedited processing (typically 1 business day) is also available for an additional fee.

Is my business name available in Illinois?

How do I check to see if a Corporation/LLC name is available? The Illinois Secretary of State Department of Business Services provides a database at http://www.ilsos.gov/corporatellc/ where you can do a preliminary search. LLC’s – 217-524-8008.

Do I have to register my business in Illinois?

In Illinois, most business are required to be registered and /or licensed by the IDOR. If you plan to hire employees, buy or sell products wholesale or retail, or manufacture goods, you must register with the IDOR.

What are the 4 main types of business organization?

An overview of the four basic legal forms of organization: Sole Proprietorship; Partnerships; Corporations and Limited Liability Company follows.

Where can I check if a business name is taken for free?

Use the USPTO’s free trademark database and to get yours registered. Simply go to http://www.uspto.gov/main/trademarks.htm and click “Search.” Then follow the instructions you see on the screen.

How do I register with enterprise?

Four major steps to register a company/ startup in India:

  1. Step 1: Acquire Digital Signature Certificate (DSC)
  2. Step 2: Acquire Director Identification Number (DIN)
  3. Step 3: Create an account on MCA portal- New user registration @ mca.gov.in.
  4. Step 4: Incorporate or Apply for the company to be registered.
You might be interested:  FAQ: How To Open Llc In Illinois?

Do LLC pay taxes in Illinois?

The LLC has no Illinois income tax filing requirements. If the LLC is a subchapter S Corporation for federal income tax purposes, and files a U.S. Form 1120S, U.S. Income Tax Return for an S Corporation, for Illinois purposes the LLC will file Form IL-1120-ST, Illinois Small Business Corporation Replacement Tax Return.

What are the benefits of an LLC in Illinois?

Briefly, the benefits of starting an Illinois LLC include:

  • Separating and limiting your personal liability from your business liability and debts.
  • Quick and simple filing, management, compliance, regulations and administration of your Illinois LLC.
  • Easy tax filing and potential advantages for tax treatment.

How much does it cost to expedite an LLC in Illinois?

If you would like to create your Limited Liability Company online, pay a $100 fee to expedite the process along with a $5 fee to process the payment. Starting a Limited Liability Company is more costly than a corporation — forming an LLC is $500, whereas forming a corporation is $150.

Leave a Reply

Your email address will not be published. Required fields are marked *