Form a Corporation in Illinois

Everything you need to know about forming a Corporation in Illinois. Filing fees, requirements, timeline, and step-by-step guidance.

Want this turned into your personalized Corporation roadmap for Illinois?

Sign up free — we'll track every step, deadline, and what comes after the LLC.

Get My Roadmap
$150
Filing Fee
10-15 business days
Processing Time
$25
Annual Tax
Required
Registered Agent

How to File

1

Choose a Corporate Name

Select a unique name for your corporation that includes a required designator such as 'Corporation,' 'Incorporated,' 'Company,' 'Corp.,' 'Inc.,' or 'Co.' Conduct a name availability search on the Illinois Secretary of State's website to ensure the name is not already in use.

30 minutes

2

Appoint a Registered Agent

Designate a registered agent who has a physical street address in Illinois and is available during normal business hours to receive legal documents and official state correspondence. The registered agent can be an individual Illinois resident or a business entity authorized to do business in Illinois.

15 minutes

3

File Articles of Incorporation

Prepare and file Form BCA 2.10 (Articles of Incorporation) with the Illinois Secretary of State, either online, by mail, or in person. The Articles must include the corporate name, registered agent information, authorized shares, and incorporator details.

1-2 hours

4

Pay Filing Fees

Submit the required filing fee of $150 for up to 60,000 authorized shares along with your Articles of Incorporation. Payment can be made by check, money order, or credit card depending on the filing method chosen.

15 minutes

What's Next After Filing

Once your Corporation is officially formed, you'll want to complete these important steps:

  • Create Corporate BylawsDraft corporate bylaws that govern the internal operations of your corporation, including rules for shareholder meetings, board of directors procedures, officer roles, and voting requirements. While bylaws are not filed with the state, they are legally required under the Illinois Business Corporation Act.
  • Hold Organizational Meeting and Issue StockConduct an initial organizational meeting of the board of directors to adopt bylaws, elect officers, authorize issuance of shares, and address other initial corporate matters. Issue stock certificates to initial shareholders and maintain a stock ledger.
  • Obtain EIN and Fulfill Tax & Licensing RequirementsApply for a federal Employer Identification Number (EIN) from the IRS, register with the Illinois Department of Revenue for state taxes, and obtain any required local business licenses or permits. If electing S-Corp status, file IRS Form 2553 within 75 days of incorporation.

Advantages

  • Limited liability protection shields shareholders' personal assets from corporate debts and legal judgments
  • Easier to raise capital through the sale of stock to multiple investors and access to venture capital
  • Potential for favorable tax treatment through S-Corp election, avoiding double taxation for qualifying corporations
  • Enhanced credibility and established legal structure that may be preferred by investors, lenders, and larger business partners
  • Perpetual existence allows the corporation to continue operating regardless of ownership changes or shareholder death

Considerations

  • Double taxation applies to C-Corporations, where profits are taxed at the corporate level and again as shareholder dividends
  • More complex formation and ongoing compliance requirements compared to LLCs, including mandatory bylaws, board meetings, and detailed record-keeping
  • Higher administrative burden and costs, including annual reports, franchise taxes, and potential need for legal and accounting professionals
  • S-Corp election comes with restrictions such as a maximum of 100 shareholders and only one class of stock allowed

Annual Obligations

Franchise Tax:$25
Annual Report Fee:$75
Report Due:Before the first day of the corporation's anniversary month
Illinois corporations must file an Annual Report with the Secretary of State each year. The annual report fee is $75, and a minimum franchise tax of $25 applies, though the franchise tax is calculated based on paid-in capital and may be higher. Illinois has been phasing out its franchise tax; as of 2024, corporations with franchise tax liability under $1,000 may be exempt, but consult the Illinois Department of Revenue for current rules. Late filing penalties apply if the annual report is not submitted on time.
Last verified: May 2026Source

What OpenChamber Does

We don't file paperwork for you — we guide you through doing it yourself, which saves money and helps you understand your business from day one.

Personalized Checklist

Every task you need, organized by priority and tailored to Illinois.

Vetted Professionals

When you need help, we connect you with professionals we trust.

Progress Tracking

Never lose track of where you are or what's next.

Track Your Progress

Get a personalized checklist for forming your Corporation in Illinois — and everything that comes after.

Get Your Free Checklist

Other Business Types in Illinois

Form a Corporation in Illinois | Filing Guide 2025 | OpenChamber