The Cost of Forming a Limited Liability Company in Illinois

What are the Costs of Establishing a Limited Liability Company in Illinois?

Establishing a limited liability company (LLC) in Illinois can be a great way to minimize the risk associated with business ownership. The LLC structure offers protection from personal liability for business debts and obligations, and can provide tax benefits. But setting up an LLC requires more than just a simple registration process—there are costs associated with establishing an LLC as well.

In Illinois, the costs of forming an LLC include filing fees, legal fees, and other costs such as obtaining an Employer Identification Number (EIN). The filing fees for forming an LLC in Illinois are $500. This fee is paid to the Illinois Secretary of State to file the articles of organization. The filing fee must be paid at the time the articles of organization are submitted.

Legal fees vary depending on the complexity of the LLC formation. Generally

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What legal fees are associated with forming a LLC in Illinois?

Forming a Limited Liability Company (LLC) in Illinois requires the payment of legal fees to cover the costs associated with the filing process. The specific legal fees associated with forming a LLC in Illinois vary depending on the complexity of the LLC and the type of services you require.

The most basic legal fee associated with forming a LLC in Illinois is the filing fee with the Secretary of State. This fee is a flat rate of $500.00 and is required for all LLCs. You may also be required to pay additional fees depending on the type of LLC you are forming. For example, for a limited partnership, you will be required to pay an additional fee of $100.00 if you wish to register as a limited partnership.

In addition to the filing fee, you may also need to pay legal

What are the annual fees for a LLC in Illinois?

The annual fee for a Limited Liability Company (LLC) in the state of Illinois is $500. The fee must be paid by the first day of the anniversary month of the LLC’s formation. For example, if a LLC was formed on June 1st, then the annual fee must be paid on or before June 1st of every year.

The payment must be made to the Illinois Secretary of State, either online or by check. The online payment can be made through the MyTax Illinois portal, while the check payment should be made out to “Illinois Secretary of State” and sent to the Illinois Secretary of State, 501 S. Second St, Rm. 351, Springfield, IL 62756.

The LLC itself is responsible for paying the annual fee and failure to

Are there any other costs when setting up a LLC in Illinois?

When forming a Limited Liability Company (LLC) in Illinois, there are a few additional costs to consider beyond the formation fees. These costs include the following:

1. State Filing Fees: All LLCs must pay a filing fee when submitting their Articles of Organization to the Illinois Secretary of State. The filing fee will depend on the type of LLC you are forming and is typically between $150 and $500.

2. Professional Fees: If you hire a lawyer or other professional to help you with your LLC formation, you will need to factor in their fees as well.

3. Registered Agent Fees: Most LLCs are required to appoint a registered agent to accept service of process on their behalf. In Illinois, registered agents typically charge an annual fee of around $100.

4. Operating Agreement

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