Skip to content
Ask a question
All posts

What are the steps I need to take to legally form a LLC in Illinois?

Picture of Chris Battis By   ·  1 minute read

To form a Limited Liability Company (LLC) in Illinois, you must follow the following steps:

  1. Select a name for the LLC: Your company's name must be unique in Illinois and must include the words "Limited Liability Company" or "LLC."
  2. Choose a registered agent: Your company must have a registered agent in Illinois who is authorized to receive legal notices and documents on behalf of your LLC.
  3. File Articles of Organization: Submit the completed Articles of Organization, along with a filing fee of $150, to the Illinois Secretary of State. These Articles must include the company's name, registered agent’s details, and address, and the purpose of the LLC.
  4. Create an operating agreement: This document defines how the company will be run and spells out the rights and responsibilities of the LLC members. An operating agreement is not a mandatory document in Illinois, but it's a good idea to have one.
  5. Obtain any necessary business licenses or permits: Depending on the type of business you operate, you may need to obtain additional licenses or permits from the State of Illinois or your local government.
  6. File Form LLC-5.5: LLC-5.5 form can be filed online after the LLC has received its approval from the Secretary of State. This form includes the details of the LLC’s registered agent and initial managers or members.
  7. File Annual Report: In Illinois, LLCs must file an Annual Report each year by the first day of the LLC’s anniversary month of formation. The filing fee is $75.

Once all the necessary steps have been taken, your LLC will be legally formed in Illinois. It is always recommended that you consult with a licensed attorney to ensure that the formation process is done accurately, and you have met all legal requirements.

Note that LLCs in Illinois need to pay attention to their corporate formalities, such as holding annual meetings, to avoid losing their limited liability status. Additionally, depending on the tax treatment elected by your LLC, you may need to file additional documents with the IRS, such as Form 8832 or 2553.