How to Incorporate in Illinois

Instructions on Illinois Incorporating
by Drake Forester

What will it cost to incorporate in Illinois?

$150 Illinois articles of incorporation filing fee and $25 minimum franchise tax fee.

What are the costs involved in forming an Illinois LLC?

Illinois LLC articles of organization will cost $500.

Do I need to reserve a name before I can incorporate in Illinois?

No, Illinois doesn’t require name reservations. However, when starting a business in Illinois, you will need a unique name. You can conduct a free business name search online to find one.

How long will it take to get my Illinois Incorporation or Illinois LLC processed?

It will take the Illinois Secretary of State 2-3 weeks to process your Illinois articles of incorporation if you file by mail. You can fax the form if you have a pre-paid account with the SOS.

Illinois has online filing but they make you pay an additional $100 fee for expedited processing plus an additional payment processing fee. Online filings are completed in 1-5 days.

What am I going to be looking at for ongoing fees to Illinois?

Illinois corporate annual reports are due the day before the first day of the anniversary month you initially filed in. The filing fee is $75, and a minimum $25 franchise tax.

Additional fees may apply for annual reports in Illinois.

An Illinois LLC annual report is due the day before the first day of the anniversary month you initially filed in and the fee is $250.

What are the Illinois business taxes?

The Illinois corporation net income tax rate is 9.5%.

The Illinois personal net income tax rate is 5%.

The average Illinois sales tax rate is 8.4%. The state has a 6.25% tax, but the average local tax is 2.15% making a total of 8.4%.

When we incorporate your business in Illinois, our service includes:

  • Drafting custom articles for an Illinois LLC or Illinois corporation.
  • The Illinois incorporator initial resolution for a corporation, or Illinois organizer if Illinois LLC.
  • Ratified Illinois corporate bylaws, or operating agreement if Illinois LLC.
  • The state of Illinois incorporation filing fees.
  • Resident agent service for Illinois.
  • Our service fees are: $100 for Illinois incorporation service and $125 for Illinois registered agent.

All for a total of only $725 for an Illinois LLC or $400 for an Illinois corporation.