How much is the LLC fee in Illinois?

The most important step for forming an LLC in Illinois is to file articles of organization with the Illinois Secretary of State. You can either file your articles online for faster processing or mail in Form LLC-5.5. The filing fee is $150.

What fees do LLC pay?

The main cost of forming a limited liability company (LLC) is the state filing fee. This fee ranges between $40 and $500, depending on your state. There are two options for forming your LLC: You can hire a professional LLC formation service to set up your LLC (for an additional small fee).

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

Is there a filing fee to dissolve or cancel an Illinois LLC? To dissolve your LLC or corporation in Illinois, there is a $5 filing fee required.

Is there an annual fee for LLCs?

Every LLC that is doing business or organized in California must pay an annual tax of $800. This yearly tax will be due, even if you are not conducting business, until you cancel your LLC. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.

Are LLC fees tax deductible?

You are only able to deduct legitimate business expenses. Legitimate expenses can include: Advertising. Business tax, fees, licenses, and dues.

How long does an LLC last in Illinois?

five years
To do so in Illinois, you must register your assumed name with the Illinois Secretary of State. You may register online, or by postal mail by filing an Application to Adopt, Change, Cancel, or Renew an Assumed Name (Form LLC-1.20). The registration is good for up to five years.

How do I terminate an LLC in Illinois?

Step 1: Follow Your Illinois LLC Operating Agreement

  1. Holding a vote with LLC members to dissolve the LLC.
  2. Recording the dissolution vote in the LLC’s meeting minutes.
  3. Determining the formal date of dissolution.
  4. Distribution of LLC assets.
  5. Notifying creditors and settling any business debts.

What happens if you don’t pay LLC fee?

If you don’t pay it on time, the state can dissolve your limited liability company. These fees usually run about 101 dollars as an average, though they do vary from state to state. Annual LLC fees can be as low as 50 dollars and as high as 750 dollars per year.

How do you become a LLC in Illinois?

Forming an LLC in Illinois Is easy Name your Illinois LLC. Choosing a company name is the first and most important step to starting an LLC in Illinois. Choose an Illinois Registered Agent. You are required to appoint an Illinois registered agent for your LLC. File the Illinois LLC Articles of Organization. Create an Illinois LLC Operating Agreement. Get an Illinois LLC EIN.

What is the annual fee for a LLC?

The table below shows LLC annual fees by state. As of 2021, the average LLC annual fee in the US is $91 . Most states call this the Annual Report, however, it has many other names: Annual Certificate; Annual List of Members; Annual Registration Fee; Biennial Report; Biennial Statement; Business Privilege Tax Return; Decennial Report; Franchise Tax Report

How do you establish a LLC in Illinois?

How to Start an LLC in Illinois. To start an LLC in Illinois, you must file Articles of Organization with the Department of Business Services, Limited Liability Division. You can file the document online or by mail. The Articles of Organization cost $150 to file. Once filed with the state, this document formally creates your Illinois LLC.

What is LLC state fee?

State Filing Fees. The main cost when forming an LLC is typically the fee of filing your Articles of Organization with the State. This fee ranges between $40 and $500, depending on your state.