To form a limited liability company (LLC) in Illinois, you will need to complete the following steps:
- Choose a name for your LLC that complies with Illinois law. The name must be distinguishable from other LLCs and registered entities in Illinois. You can search for available names at the Illinois Secretary of State’s website.
- Register your LLC with the Illinois Secretary of State by filing the Articles of Organization. This document requires you to provide basic information about your LLC, such as its name, address, and registered agent. You will also need to include the name and address of the LLC’s organizer. The filing fee for the Articles of Organization is $150.
- Once your Articles of Organization have been approved, you should obtain an Employer Identification Number (EIN) from the IRS. This tax identification number is required for all LLCs that have employees.
- Draft an operating agreement for your LLC, which outlines the rights and responsibilities of the members, how profits and losses will be allocated, and how the LLC will be managed. Although an operating agreement is not required by Illinois law, it is highly recommended. Having a well-drafted operating agreement can help avoid disputes among members and provide clarity in the event of any legal issues.
- Register for any necessary licenses or permits required for your LLC to operate in Illinois.
While these are the basic steps required to form an LLC in Illinois, there may be additional requirements depending on the nature of your business. For example, if your LLC will be providing professional services, such as legal or medical services, you may need to obtain additional licenses or certifications.
It is important to note that every situation is unique, and there may be particular aspects of your LLC formation that require additional legal advice. If you have any questions or concerns about forming an LLC in Illinois, it is highly recommended that you consult with a licensed attorney.
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