Form a LLC in Illinois
Everything you need to know about forming a LLC in Illinois. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose LLC Name
Select an available name that includes 'LLC' or 'Limited Liability Company' and comply with Illinois naming requirements.
1-2 hours
Appoint Registered Agent
Designate a registered agent with an Illinois address to receive legal documents on behalf of the LLC.
30 minutes
File Articles of Organization
Submit Form LLC-5.5 to the Illinois Secretary of State with required information and filing fee.
1 hour
Create Operating Agreement
Draft an operating agreement outlining member roles, profit distribution, and management structure.
2-4 hours
What's Next After Filing
Once your LLC is officially formed, you'll want to complete these important steps:
- •Obtain EIN — Apply for an Employer Identification Number from the IRS for tax purposes and banking.
- •Open Business Bank Account — Establish business banking accounts using your Articles of Organization and EIN.
- •Obtain Required Licenses — Apply for necessary business licenses and permits based on your business activities and location.
Advantages
- ✓Limited personal liability protection for members
- ✓Pass-through taxation avoiding double taxation
- ✓Flexible management structure and profit distribution
- ✓Enhanced business credibility with customers and vendors
Considerations
- •Annual report filing requirement with fees
- •Self-employment taxes on member earnings
- •Limited life span if not properly maintained
Annual Obligations
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.
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Every task you need, organized by priority and tailored to Illinois.
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