In Illinois, an annual report is a regular filing that your LLC must complete every year. By using a registered agent service, you can ensure that your LLC's reports are always filed on time to the appropriate government agency. Without this document, Illinois will not recognize the LLC as a legitimate business. Thank you for subscribing to our newsletter! The purpose of this report is to keep your business records up to date with the state of Illinois. Because state law governs limited liability companies (LLCs), the amount of money it costs to form an LLC varies by state. Get an Illinois LLC and the best of our services today. An owner may wish to outsource all of the duties involved in forming an LLC to a private company. Does an LLC Have Articles of Incorporation? To determine whether your desired name is available, you must contact the Illinois Department of Business Services. BACK TO CYBERDRIVEILLINOIS.COM HOME … The LLC must submit the report before the first day of its anniversary month. Fee: $250 for reports filed on paper and $300 for reports filed online. © LegalZoom.com, Inc. All rights reserved. Our network attorneys have an average customer rating of 4.8 out of 5 stars. Illinois Secretary of State: A Guide for Organizing Domestic Limited Liability Companies, Illinois Secretary of State: Articles of Organization -- Form LLC-5.5, Illinois Secretary of State: Articles of Organization -- Form LLC-5.5(S), Illinois Secretary of State: CyberDriveIllinois -- LLC Articles of Organization. The report is essentially updating your registered agent address and paying a $250 fee for filing online or a $300 … 8 a.m.–4:30 p.m. Chicago office: Instructions: You will need your LLC State ID number. Skip the state fees! Last updated October 12, 2020. We're available Mon-Fri 5 a.m. to 7 p.m. PT and weekends 7 a.m. to 4 p.m. PT. Once you have found an available name, Illinois allows you to reserve it for up to three months. It is due before the first day of the LLC’s anniversary month, starting in the year after formation. Illinois requires LLCs to file an annual report during the 60-day period before the first day of the anniversary month of the incorporation date. This allows creditors and other interested parties to look up your business address in case they need to contact you. ; Or, you can use our free Form an LLC in Illinois … Avoid penalties of late filing: In Illinois, an LLC may be dissolved for failure to file an annual report. Use of our products and services are governed by our The main cost of forming a limited liability company (LLC) is the state filing fee.This fee ranges between $40 and $500, depending on your state.. To file an annual report electronically, an expedited fee of $50 is also required. 6. Learn more about a registered agent by reading our article, What is a Registered Agent? Illinois LLC Annual Report Filing Fee. $100 per corporation; $250 per LLC; $250 per Series LLC plus $50 per cell ‍As you can see, if you … LLCs pay $300 if the payment is 60 days late. The Illinois Secretary of State regards a series LLC as one entity filing a single annual report and paying a single fee. Articles of Organization - $150 filing fee (plus $100 expedited fee, optional) Articles of Organization for an LLC with the ability to establish a series – $400 filing fee (plus a $100 … There are many companies that offer to file the necessary documents for you. A yearly fee when you file your annual report. Penalties for late filings: Illinois charges a $300 fee for late filing. We are not a law firm, or a substitute for an attorney or law firm. If a company … When the state processes and accepts the … There are two options for forming your LLC: You can hire a professional LLC formation service to set up your LLC (for an additional small fee… Foreign LLC Fees by State Foreign LLC: definition, synonyms, and fees. LLC Annual Report Filings. In the event the LLC is filing the Annual Report long before the due date, it's recommended to file by mail to save the $50 expediting fee. The annual fee to be paid by the secretary of state along with your annual report will vary based on your company’s circumstances. Use form LLC 5.5 to establish … Unlike the Limited Liability Company and the S Corporation, a C Corporation is … Not all expenses associated with forming an LLC are mandatory. Without this document, Illinois will not recognize the LLC as a legitimate business. Foreign LLC Registration (or “Foreign LLC Qualification“) is the term used when an LLC formed in one state is registering to do business in a new state.. Foreign LLC registration fees … It used to cost $500 in filing fees to form an LLC in Illinois, and $250 to pay annual report filing fees… Please Enter a Limited Liability Company File Number. This ensures that no one else can obtain the name in the meantime. Illinois LLC Legal Requirements & Fees Depending on the specifics of your Illinois business, you’ll be required to pay certain fees and fulfill different filing requirements. A registered agent service will notify you when reports are due, and they can also submit the filing for you for an additional fee. Learn more about annual reports by reading our article, What is an LLC Annual Report? In Illinois, if you wanted to use multiple Limited Liability Companies (also known as a “Traditional LLC”) and you didn’t want to pay $500 to set up each one and $250 per year to maintain it, you may want to use a Series Limited Liability Company … Illinois requires every LLC conducting business in the state to file an annual report. 351 Springfield, IL 62756 217-524-8008 Hours Mon.–Fri. Recommended: Northwest Registered Agent provides free registered agent service for the first year as part of their LLC Packages. Get the right guidance with an attorney by your side. For complete details on state taxes for Illinois LLCs, visit Business Owner's Toolkit or the State of Illinois . The cost to start an Illinois limited liability company (LLC) is $150.This fee is paid to the Illinois Secretary of State when filing the LLC’s Articles of Organization.. Forms. Doing so maintains the LLC's good standing with the state. In addition, LLCs will be dissolved after 180 days for failure to file an annual report. If you do not know your i.d. There are two main types of tax that you will pay to the Illinois Department of Revenue: Illinois state income tax and Illinois state sales tax. Filing an LLC and Fees. A request for expedited services must take place in person at either the Springfield office or the Chicago office. Click here to find the Limited Liability Company file number. Articles of Organization legally create an LLC. The Illinois LLC Annual Report fee is $75 regardless of the method of filing you choose. Illinois offers expedited service for those in a hurry to form an LLC. Prior to the new legislation, Illinois was one of the most expensive states to operate an LLC. Following are the forms and fees that are required when starting an LLC in Illinois: 1. The State of Illinois has reduced many of the Limited Liability Company (LLC) filing fees ... not filed within 60 days of the due date requires payment of the late filing penalty mandated by Section 50-15 of the Limited Liability Company Act. There is a late fee that is assessed for late filing of Illinois annual reports. Includes EIN, hassle-free maintenance, business address & mail forwarding, Privacy by Default®, local Corporate Guide® … All LLCs are required to file their annual report with the Illinois Secretary of State. The report is essentially updating your registered agent address and paying a $250 fee for filing online or a $300 fee for filing in paper. Springfield office: Limited Liability Division 501 S. Second St., Rm. One of the requirements of forming an LLC is to pick a name not already in use by an existing business. Privacy Policy. Illinois LLC Annual Report by mail If you file your Annual Report by mail , it takes the … Once you have formed your Illinois LLC, it is important that you stay on top of your state’s filing deadlines in order to stay in good standing and avoid unnecessary fines and penalties. The fee … $500 per LLC; $750 per Series LLC plus $50 per cell Secretary of State Cost for Annual Fees. Start Your LLC Today for … If an owner submits the Articles of Organization with a business name already in existence, Illinois will reject the application. Taxes. The content is not legal advice. You can file your LLC’s annual report through the Illinois Secretary of State website. The fee for processing Articles of Organization for an LLC is $500.00. Terms of Use and Senate Bill 867 LLC Filing Fee Reductions Old fee New fee Articles of Organization $500 $150 Application for Admission $500 $150 Restated Articles of Organization $500 $150 Articles of Organization-Series $750 $400 Application for Admission-Series $750 $400 … In Illinois, there are generally two types of costs associated with setting up an LLC: mandatory and optional. Illinois has recently become a much more business-friendly state.. number, you can use the business entity search to find it. Illinois Permits and Licenses. Illinois State Annual Report Fee. If you have previously consulted with an attorney about whether to form an LLC, this also requires additional fees. Optional costs can include fees for professional services, name reservation, or outsourcing duties to a private company. If the LLC is waiting until the last minute to file, it's highly recommended to file the report online for rapid processing. Updated June 30, 2020: To set up an LLC in Illinois, costs include a $150 fee for filing your articles of organization, as well as other government and filing fees.You can also … The filing fee for this step is typically between $150 to $200. There are two options for forming your LLC: You can hire a professional LLC formation service to set up your LLC (for an additional small fee). This form does not create a limited liability company. The government uses this information to track the payment of your LLC's state taxes. Note that if you file any document electronically, Illinois charges an additional fee because it considers this an expedited service. Fees vary, but they tend to be more costly if submitted electronically. For example: • If your Illinois LLC was formed on November 15th 2018, then your first Annual … Articles of Organization legally create an LLC. This article contains the following sections: In Illinois, an annual report is a regular filing that your LLC must complete every year. The annual report fee is $250. As of December 2017, the fee for reserving an LLC name is $25. These mandatory costs typically include fees associated with filing documents the state requires to legally establish the organization. Illinois Series LLC Statute On August 16, 2005, the Series LLC Statute (805 ILCS 180/37-40) was added to Illinois' Limited Liability Company … An LLC Annual … Here are the three main advantages to using a registered agent service for your LLC: 1. Illinois requires a business owner to pay certain fees to form an LLC. Illinois LLC Annual Report • Every LLC in Illinois is required to file an Annual Report every year. Corporations pay a fee that is based on the annual franchise tax. This portion of the site is for informational purposes only. 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