Table of Contents
Written by : Dominick Charette
Current : 8519
Write a comment
Write a comment
yo what's up guys let me give you a video on how to apply for the LLC when you apply for the LLC it'll be different for every state unlike the Ein which is the same for every state if you need a video on how to apply for LLC in your state please leave a comment below and I will be sure to do a video for you when you get to this page you want to read over it it'll tell you all about the LLC it'll tell you the fees exactly what you're needed for and everything and when you get done reading over this just click file when you get to this part they're asking you if you want a standard limited liability company or one with series we're going to pick the one with standard we don't want the one with Series this is for like if you have a bigger company with a bunch of small companies inside of it so you just want to click the standard and then click continue for the provisions you want to agree to this click yes and then continue now for your limited liability company name you want to make sure you get a name that's very unique that no one has if you put a name in here that someone has or someone has that's close to it it will automatically pull that name up and you can say yes or no if this is your name or not if not then you want to start over and get another name and as you can see you need to put a LLC behind this LLC or L.L dot C then once you get to the principal place of business you want to put your address in your city your state and your ZIP code for this application you want to put your name everywhere when they get to the register agent you want to put your name again unless you really have someone that will handle all of the paperwork for you that will get all of the mail for you and actually tell you that the mail is there and tell you what it's all about and everything but other than that you just want to put your name because you don't want to get anyone else involved but you put your name your address your city your state your ZIP code if they don't pick your address up automatically just follow these steps too now for the manager's part this is the part you have to be careful for this is the part where I messed up that and I put an ex-fiancee's name and I was basically giving her the rights to my business so I had to call and get the application deleted and resubmit it and put my info on everything now when you get to this part for the organizer you want to put your information again you want to put your name your address your city or state your zip code and then click continue remember you want to put your name for everything your name your address right here you can look over everything and you can make sure everything is right then you can choose to get an expedited service or you can choose to get a no expedited service are not extra data service will take about 10 days in an expedited service will literally take less than 24 hours put your billing information in here which is the same information that's on your credit card and then click continue then after you get done with that information you'll come to the payment information and then you want to put your credit card your name and everything that's so associated with your credit card and then you're done so this is exactly how you follow LLC in Illinois if you want to get it really quick you just want to do the expedited service and you can get it within 24 hours once again thanks to all you guys and peace out
Thanks for your comment Tosha Olarte, have a nice day.
- Dominick Charette, Staff Member
are you wondering how to start an LLC in Illinois today you will learn about the most common ways to start your business including the correct forms you'll need how to register your LLC critical naming requirements and all other vital tips and tricks then as a bonus later in the video I will reveal a trustworthy registered agent who will help set up your LLC for free so make sure to stick with me until the end the state of Illinois like other states has several specific LLC requirements there are three main ways you can start an LLC in Illinois first is the DIY or do-it-yourself process where you mostly depend on Illinois State's website the second way is hiring a professional service that practically offers more efficiency and Security in the process of creating your LLC while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an LLC on your own Step 1 choose a name for your Illinois LLC your llc's name must be recognizably different from the names of other business entities already on file with the Illinois Secretary of State you can check to see if a name is available by searching the Secretary of State Business Services name database you can reserve a name for up to 90 days by filing an application to reserve a name form LLC 1.15 the filing fee is 25 dollars under Illinois Law an LLC name must contain as the last words limited liability company LLC or LLC the abbreviations limited and Company are not allowed in Illinois the name must also not include the words Corporation Corp Incorporated and limited company limited partnership or LP Step 2 Illinois requires LLC to have a registered agent every Illinois LLC must have an agent for service of process in the state this is an individual or business entity that agrees to accept legal papers on the llc's behalf if someone sues the company a registered agent can be an individual who resides in Illinois or a domestic or foreign corporation authorized to do business in Illinois if it's a corporation its articles must authorize it to act as an agent the registered agent must have a physical street address in Illinois step 3 file articles of organization with the Illinois Secretary of State after that you must file the certificate of formation with the Illinois Secretary of State's business entities Division and the office of the judge of probate to officially incorporate a domestic Illinois limited liability company the Illinois State filing cost for LLCs is one hundred and fifty dollars for both domestic llc's and for foreign LLCs basically a domestic LLC means that you are already a resident of Illinois and you want to build a business in Illinois foreign LLC on the other hand is for people living outside Illinois but wanting to start a business or a franchise of their business in Illinois with that said most businesses would be applying for a domestic LLC you can file the certificate of formation online or by mailing it to the Secretary of State expect the LLC certification process to take approximately two weeks this is three to four days for the judge of probate and 10 days for the Secretary of State step 4 prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your LLC has more than one member although a limited liability company operating agreement is not necessary for Illinois your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial Investments decision-making Powers voting rights and management and lastly dissolving the business step 5 of file annual reports with the Illinois Secretary of State all llc's doing business in Illinois must file an annual report with the secretary of state the report is due each year prior to the first day of the llc's anniversary month the month in which it was organized for example if your LLC was created on July 15th then your report would be due by July 1st you can file the report online or by mail with form LLC to 50.1 the filing fee is 75 dollars filing a report late more than 60 days after the due date incurs an additional 100 penalty step 6 obtain an EIN an EIN or employer identification number is a federal tax ID issued by the IRS your EIN is used by them to readily identify your firm and tax filings all Illinois firms pay a business privilege tax and the state requires you to have an EIN to file you may also be required to provide your EIN when opening a bank account or applying for municipal permits or licenses obtaining an EIN is a slightly longer process compared to their previous steps I'm sure you know anything to do with the IRS is confusing first you have to have complete knowledge of your LLC such as your company information managing member information business address business information company details and even critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service now let's talk about the second option to form an LLC and that is hiring a professional formation service professional formation services do all the steps you should be doing on your own from filing necessary forms to acting as your registered agent you usually have to allocate a specific budget for this option as I already mentioned earlier Inc file is one of the best companies out there to help you form your LLC you can click on the link in the description to get access to this deal Inc file is one of a kind as it offers a free package with services such as preparing and filing your articles of organization well you still have to pay 237 dollars for the state fees which you would have to do anyway if you chose the DIY option but looking at the bigger picture all other companies will still charge their service fee on top of State filing fees Inc file does not collect this fee this plan already includes a free registered agent for your first year of subscription and 119 annually moving forward if you decide to continue the service after the first year Inc file's next packages are the gold and platinum packages which both have package fees already on top of the 237 dollar State fee each package has its own set of services which are all worthy of the subscription you are paying for the gold package offers you the benefits of filing reports and taxes for your LLC every year USA LLCs are required to file a state annual report this report is essentially an information update of your file so that the state knows who is now in charge and how to contact your company USA LLCs are also required to file state tax returns to make matters even more complicated your annual report and business privilege tax share a document and are due at the same time each year with the ink files
Thanks Kasey your participation is very much appreciated
- Dominick Charette
About the author
I've studied robotics at University of Washington in Seattle and I am an expert in ancient middle eastern history. I usually feel cynical. My previous job was adult literacy and remedial education teachers I held this position for 31 years, I love talking about computer programming and nadar. Huge fan of The Chainsmokers I practice mountaineering and collect military items.
Try Not to laugh !
Joke resides here...