How to Form a Corporation in Illinois
- Choose a Corporate Name.
- File Articles of Incorporation.
- Appoint a Registered Agent.
- Prepare Corporate Bylaws.
- Appoint Directors and Hold First Board Meeting.
- File Annual Report.
- Obtain an EIN.
How do I register an S Corp in Illinois?
How to Form a Corporation in Illinois
- Choose a corporate name.
- File your Articles of Incorporation.
- Appoint a registered agent.
- Start a corporate records book.
- Prepare corporate bylaws.
- Appoint initial directors.
- Hold first Board of Directors meeting.
- Issue stock to shareholders.
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.
How are S corporations taxed in Illinois?
S corporations are subject to the Personal Property Tax Replacement Income Tax (replacement tax), but do not pay Illinois income tax. The income tax is paid at the shareholder’s level. Generally, income from an S corporation is passed on to the shareholders.
How do I register my business with the Secretary of State?
Create & File Registration
- Visit the Secretary of State’s online services page.
- Create a user account.
- Select “create or register a business”.
- Fill out the required information about your business entity (listed above).
- Pay the $100 filing fee by approved credit card: Visa, MasterCard, American Express, or Discover.
How much does it cost to start an S Corp in Illinois?
File the articles of incorporation to create your corporation. Agency Fee: $150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online.
How much does it cost to register my business name in Illinois?
You may submit both LLC filings and corporation filings online with a $50 filing fee or by mail to the Illinois Secretary of State.
How to register a corporation in the state of Illinois?
First, you will need to choose a name that complies with Illinois Secretary of State naming guidelines: Your name must contain the word “corporation,” “company,” “incorporated,” “limited,” or an abbreviation of one of those words. Your name must be distinguishable from any existing business in your state.
How to become a registered agent in Illinois?
When incorporating in Illinois, you are required to designate a registered agent to handle official documents on behalf of your business. They must be a resident of Illinois or a business entity legally registered to operate in the state.
How do I update my business registration in Illinois?
If your business is already registered and your information changes (e.g., address change, ownership change, additional tax responsibilities, new location), update your registration information electronically through MyTax Illinois, by calling us at 217-785-3707, or at one of our offices.
How to look up an entity in Illinois?
In order to lookup an entity in Illinois, you will need to visit the Secretary of State’s Website and use the CyberDrive System to Search By: Corporation or LLC (Limited Liability Company) Limited Partnership (LP), Limited Liability Partnership (LLP), or Limited Liability Limited Partnership (LLLP)
