How to Form a Limited Liability Company (LLC) in Illinois
If you're looking to form an LLC in Illinois, follow these steps:
- Choose a name for your LLC: Select a unique name that isn't already in use by another business registered with the state of Illinois.
- File Articles of Organization: This legal document establishes your LLC with the state. You'll need to provide information such as your business's name and address, the name and address of a registered agent, and the names and addresses of the LLC's members (if applicable).
- Obtain necessary licenses and permits: Depending on your business, you may need licenses or permits from local or state authorities.
- Create an LLC operating agreement: While not required by law, it's recommended that LLCs create an operating agreement outlining member rights, responsibilities, decision-making procedures, and dispute resolution.
- Register with the Illinois Department of Revenue: If your LLC sells goods or services in Illinois, you'll need to register with the department of revenue and obtain necessary tax identification numbers.
Remember that forming an LLC doesn't guarantee protection from all liability, and exceptions to the limited liability protection offered may exist. It's recommended that you speak with a licensed attorney to discuss your business and any potential limitations or exceptions to the LLC structure.
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