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What steps do I need to take to properly register my business in Illinois?

Picture of Chris Battis By   ·  1 minute read

To properly register a business in Illinois, there are several steps that must be taken. Here is a breakdown of each step:

  1. Determine your business structure: You must first decide what kind of business structure you will have, such as a sole proprietorship, partnership, corporation, or LLC. Each structure has different requirements and tax implications, so it is important to research and choose the structure that best suits your needs.
  2. Choose a name: Your business name must be unique and not already in use by another business in Illinois. You can search the Illinois Secretary of State's website to see if your chosen name is available.
  3. File paperwork with the Illinois Secretary of State: Once you have determined your business structure and chosen a name, you will need to file the appropriate paperwork with the Illinois Secretary of State. Depending on your business structure, you may need to file Articles of Incorporation, Articles of Organization, or a Certificate of Limited Partnership. The Illinois Secretary of State's website has detailed instructions and forms for each business structure.
  4. Obtain necessary licenses and permits: Depending on the type of business you have, you may need to obtain additional licenses and permits from the state of Illinois, your local government, or other agencies. For example, if you are opening a restaurant, you will need to obtain a food service license from the Illinois Department of Public Health.
  5. Register for taxes: You will need to obtain a Federal Employer Identification Number (FEIN) from the IRS, as well as register for state and local taxes. This may include sales tax, employment tax, and other taxes depending on your business type.

In addition to these steps, it is recommended that you consult with a licensed attorney or accountant to ensure that you are following all necessary legal and financial requirements for your business. It is also important to keep accurate and up-to-date records and comply with all applicable laws and regulations.

It is important to note that the registration process and requirements may vary depending on the type of business and the location within Illinois. For more information and specific guidance, visit the Illinois Secretary of State's website or consult with a licensed professional.