file il llc annual report [Expert Review]

Last updated : Sept 3, 2022

Does an LLC need to file an annual report in Illinois?

Illinois requires LLCs to file an annual report during the 60-day period before the first day of the anniversary month of the incorporation date. The annual report fee is $250. Taxes.

How do I file an annual report in Illinois?

1. Determine your filing fee and due date.
2. Complete your annual report online OR download a paper form.
3. Submit your report and fees to the Illinois Secretary of State.

Do you have to renew your LLC Every year in Illinois?

The State of Illinois requires you to file an annual report for your LLC. You can file the annual report online at the SOS website or by mail using Form LLC-50.1.

Are there annual fees for an LLC in Illinois?

After you form an LLC in Illinois, you must file an Annual Report and pay a $75 fee every year. You need to file your Annual Report in order to keep your Illinois LLC in compliance and in good standing with the Illinois Secretary of State.

How much does it cost to maintain an LLC in Illinois?

To maintain an LLC in Illinois you will need to pay an annual fee of $75 along with sales tax at 6.25%, income tax at 4.95% and federal taxes.

Where do I mail my Illinois annual report?

Make all forms of payment payable to "Secretary of State." Mail the fee and completed Annual Report to: Secretary of State Department of Business Services Limited Liability Division, 501 S. 2nd Street, Room 351, Springfield, IL 62756.

Do I need a certificate of status for my LLC in Illinois?

Please be aware that corporations, LLC's and other business organizations in Illinois are NOT required by law to obtain said "Certificate of Status". THIS IS A SCAM! It is recommended that business organizations in Illinois ignore this solicitation and do NOT reply to the solicitation.

How do I check the status of my LLC in Illinois?

For LLC availability, please call 217-524-8008.

What happens if you don't file annual report for LLC in Illinois?

Penalty. An annual report not filed within 60 days of the due date requires payment of the late filing penalty mandated by Section 50-15 of the Limited Liability Company Act.

How do I get a copy of my annual report in Illinois?

For information on corporate annual reports and changing your registered agent, contact the Illinois Secretary of State at 1 217 782-6961 or visit their website at https://www.ilsos.gov.

How do you write an annual report Example?

1. Start off with the shareholder's letter.
2. Add a general description of the industry.
3. Include audited statements of income.
4. State your financial position.
5. Give details about cash flow.
6. Provide notes to the statements for line items.

Who Must file IL 1065?

You must file Form IL-1065, Partnership Replacement Tax Return, if you are a partnership, as defined in "Definitions to help you complete your Form IL-1065" in the Form IL-1065 instructions, and you have base income or loss as defined under the Illinois Income Tax Act (IITA) allocable to Illinois.

How do I renew my Illinois business license?

1. electronically through MyTax Illinois,
2. by calling us at 217-785-3707, or.
3. at one of our offices.

What is required for LLC Illinois?

To form an Illinois LLC you'll need to file the Articles of Organization with the Illinois Secretary of State, which costs $150. You can apply online or by mail. The Articles of Organization is the legal document that officially creates your Illinois limited liability company.

How much does an EIN cost in Illinois?

Obtain an EIN If you form a one-member LLC, you must obtain an EIN for it only if it will have employees or you elect to have it taxed as a corporation instead of a sole proprietorship (disregarded entity). You may obtain an EIN by completing an online application on the IRS website. There is no filing fee.

How much does a EIN number cost in Illinois?

Applying for an EIN for your Illinois LLC is completely free. The IRS doesn't charge anything for applying for an EIN.

How much is an Illinois business license?

How much does it cost to get a business license in Illinois? There's no fee to receive a Certificate of Registration and activate your MyTax Illinois account. But if you plan to register an LLC, you'll pay a $150 fee to file your Articles of Organization, plus $75 every year to file an annual report.

Can I be my own registered agent in Illinois?

Yes, you can be your own registered agent in Illinois. However, after considering the registered agent requirements most business owners elect to hire a registered agent service instead.

Can I be my own registered agent?

You can act as your own Registered Agent for a corporation or LLC as long as you have a physical street address in the state where your corporation or LLC is formed. The actual corporation or LLC being formed, however, cannot name itself as its own Registered Agent.

How much does it cost to expedite LLC in Illinois?

Corporations are charged the $100 expedite fee for online formation, as well as a $6.25 processing fee. This means the minimum corporation formation fee online is $281.25. If you are forming an Illinois corporation, you will be required to pay the Illinois Franchise Tax.

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Write a comment

Thanks for this great article

Thanks for your comment Jamey Pomposo, have a nice day.
- Melba Griesmeyer, Staff Member

your state will require you to file an annual report in order to keep your LLC in compliance your contact information updated and your LLC in good standing fees and due dates vary by the state once your LLC has formed paperwork with the state is not over as a part of the ongoing requirements for your LLC your state requires that you file an annual report and pay a filing fee the ein report can take many names such as the annual report annual statement statement of information periodic report biennial statement decennial report and many more and not all annual reports are annual so may be required to file every year some every two years and some may be lucky enough to only have to file every 10 years it just depends on your state and their requirements since most states refer the report as the annual report will do so as well just for simplicity the purpose of the Yankee report is to keep your LLC in compliance and in good standing additionally it keeps the state updated with your LLC's contact information if you fail to file your annual report the state will automatically dissolve or shut down your LLC your anger report will include your LLC name your office address your registered agent information and an LLC number from your Secretary of State the LLC number is just a number that your state uses to reference and identify your LLC so how do you file and pay your annual report generally there are two ways you can file your annual report with your state you can file it by mail or you can file it online if you file by mail you will fill out your annual report on your computer or fill it out by hand next you'll make a copy for your business records and then mail the original to the state along with a check or money order to pay the filing fee if you file online you'll prepare and submit your anger report on the state's website and pay the filing fee with a debit or credit card regardless of what option you choose it's important that you file your anger report on time most states will send you a reminder to pay and file your anger report prior to the deadline but not all of them do that for this reason we recommend that you keep a repeating reminder on your calendar what are the consequences for not filing your anger report if you don't file your anger report on time the state will charge you a late fee if you continue to ignore this requirement the state will automatically dissolve and shut down your LLC some states are stricter than others so it's best not to push your luck here so where do you get your annual report if you have formed an LLC but are not sure how to get your anger report from the state you can visit your state's website and contact them for guidance the links to the various states websites can be found on our website if you hired a company to form your LLC then you need to verify whether they will file it on your behalf and charge you to do so or if you need to file it on your own remember just because you paid a company to form your LLC the annual report is ultimately your responsibility in order to keep your LLC in compliance and in good standing if you have not formed your LLC yet don't worry you only have to file your annual report after your LLC is formed if you hire a company to form your LLC just make sure to find out whether they will follow your on report for you or if you need to do it yourself if you join our online video course we'll show you how to file your annual report step-by-step we'll also give you the specifics on filing fees and due dates for your state in summary it's important to make sure you file your annual report on time so your LLC remains in compliance and in good standing with your state

Thanks Colby your participation is very much appreciated
- Melba Griesmeyer

About the author

Melba Griesmeyer

I've studied athletic director at Iowa State University in Ames and I am an expert in systems engineering. I usually feel uncomfortable. My previous job was funds development administrator I held this position for 19 years, I love talking about experimenting and bouldering. Huge fan of Kevin Gates I practice hockey and collect fossils.