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What steps do I need to take to form a limited liability company (LLC) in Illinois?

Picture of Chris Battis By   ·  1 minute read

Forming a Limited Liability Company (LLC) in Illinois

Steps to Follow:

  1. Choose a name for your Illinois LLC:

    2. The Illinois LLC name should be unique and not already in use by another Illinois LLC or corporation. You can check the availability of a name by searching the Illinois Secretary of State's online database.

  2. Appoint a registered agent:

    3. Illinois requires LLCs to have a registered agent in the state. The registered agent is responsible for receiving legal papers and official government documents on behalf of the LLC. The registered agent must have a physical address in Illinois and be available during normal business hours.

  3. File Articles of Organization:

    4. You need to file Articles of Organization with the Illinois Secretary of State's office to form your LLC. The Articles of Organization must include the LLC's name, registered agent's name and address, the LLC's business purpose, and the name and address of the LLC's organizer.

  4. Create an Operating Agreement:

    5. An Operating Agreement is a legal document that outlines the structure and operating procedures of the LLC. Although not required by law, it is highly recommended to create an Operating Agreement to avoid disputes and maintain the liability protection of the LLC.

  5. Obtain necessary licenses and permits:

    6. Depending on the nature of your business, you may need to obtain licenses or permits from the state of Illinois, counties, or municipalities. The Illinois Department of Commerce & Economic Opportunity provides information on licensing and permitting requirements.

  6. Register for taxes:

    7. LLCs in Illinois are subject to state and federal taxes. You may need to register for a Federal Employer Identification Number (EIN) from the IRS and obtain an Illinois Business Tax number from the Illinois Department of Revenue.

  7. Obtain insurance:

    8. It is advisable for LLCs to obtain liability insurance to protect against any potential lawsuits, accidents, or damages that may arise in the course of business.

It is important to note that regulations and procedures related to forming an LLC can change over time. It is recommended to consult with an attorney who specializes in business law to ensure that you comply with current state regulations and requirements.