To form an LLC in Illinois, you must follow these steps:
Step 1: Choose a Name
Select a unique name for your LLC. The name should end with “LLC” or “Limited Liability Company.” You can check the name’s availability on the Illinois Secretary of State website.
Step 2: Appoint a Registered Agent
The LLC must appoint a registered agent who can receive legal documents on behalf of the LLC. The registered agent must have a physical address in Illinois.
Step 3: File Articles of Organization
Submit Articles of Organization to the Illinois Secretary of State. The document must include the LLC's name, registered agent's name and address, the LLC's purpose, and the names and addresses of its organizers.
Step 4: Obtain Employee Identification Number (EIN)
You can apply for an EIN through the Internal Revenue Service (IRS) website. An EIN is necessary for tax purposes and must be obtained before hiring employees.
Step 5: Obtain Business Licenses and Permits
Depending on the nature of your business, you might need to obtain additional state and local licenses and permits.
Step 6: Register with the Illinois Department of Revenue
All LLCs in Illinois must register with the Illinois Department of Revenue.
Step 7: Create an Operating Agreement
Although not legally required, it is advisable to create an operating agreement that outlines the management structure and ownership of the LLC.
It is advisable to consult with an attorney when forming an LLC in Illinois to ensure compliance with all necessary legal requirements. Additionally, there may be specific industry regulations or tax implications that should be addressed.
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