How To Create An Llc In Illinois – The Articles of Organization of an Illinois LLC must be amended and the amended Articles must be filed with the Illinois Secretary of State, Department of Commercial Services, Division of Limited Liability. Additionally, you must submit a $50 application fee. Below, you will find a step-by-step guide to editing an Illinois LLC.
Because your business will grow over time, you will need to update your initial organization. In many cases, these changes can be made by filing an amendment to the Illinois Articles.
How To Create An Llc In Illinois
Illinois LLC Records Amendments to update the LLC’s name, principal address, or term. In addition, you can change delegates or members with administrative access, add or remove delegates from your Illinois records, or set up authorization families. If you started the outgoing series with an upgrade, you will pay an additional $300, bringing your total deposit to $350.
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You can submit revised articles by mail or in person. If you are only changing the name of the entity, you can file your amendment, all other amendments require paper documentation.
The application fee may be paid by check made payable to “Secretary of State” if submitting a paper form, or by credit card if submitting online.
To file online, go to the Illinois LLC Amendment page and click “file” at the bottom of the page. Enter your Illinois application number into the search box. If you don’t know your phone number, you can easily find it by searching the Illinois business database. Your current LLC information will appear on the screen. After confirmation, select “Continue”. Then complete the form and pay the $50 application fee.
The filing fee for article amendments is $50 per signature process. If it needs to be expedited, you will be charged an additional $100.
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Additionally, you may file the Illinois Confirmed Articles of Organization (Form LLC 5.30) to file amendments. However, the filing fee is higher – $100.
The Illinois Amendment has been filed with the Illinois Secretary of State, Division of Commercial Services, Division of Limited Liability.
Dura (Statutory) Power of Attorney – usually gives a representative broad financial powers that will continue even if the settlor is deemed incapacitated.
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General (Financial) Power of Attorney – Grants a representative broad financial resources, but the power of attorney will lapse if the principal is deemed incapacitated.
Limited Power of Attorney – This type is limited to a specific transaction or time period and expires once the transaction or time period is completed.
Minor (Child) Power of Attorney – This allows you to appoint someone to represent your minor child during your temporary absence.
Medical Power of Attorney – Allows you to name someone to make health care decisions for you if you are unable to do so. Download: Adobe PDF
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Tax Power of Attorney (IL-2848) – Can be used to designate someone to handle tax matters for you.
Signature Requirement: If the attorney or certified public accountant (CPA) is represented, two (2) witnesses are required. Two (2) witnesses and a notary (if different attorneys).
Vehicle Agent – This allows you to appoint someone to handle vehicle registration and title on your behalf.
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Starting today. You can learn more about LLCs and their advantages in our What is an LLC guide. To learn how to form an LLC in Spanish, read our Cómo crear una LLC en Illinois guide.
For more information on how to form an LLC in any state, visit our How to Start an LLC guide.
Choosing a business name is the first and most important step in opening an LLC in Illinois. Be sure to choose a name that meets Illinois LLC naming requirements and is easily searchable by potential clients.
2. Is this name available in Illinois? Make sure the name you want has not been removed by an Illinois LLC search on the Illinois Secretary of State Cyberdrive website.
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3. Do you have an address? We recommend that you check out businesses online to see if your web business name is available. Even if you don’t plan to do business with the website right now, you may want to buy a URL to prevent others from getting it.
Now that you have verified your name and secured your address, you can choose professional services for the LLC formation process. We recommend one of the following professional services:
You have been required to register as an Illinois agent for the LLC. A registered agent is also known as an attorney or resident agent because process services are well known in other states.
What is a Registered Agent? A registered agent is the person or business responsible for serving your business with important forms, legal documents, notices of litigation, and official government correspondence. Think of your registered agent as your business’s liaison to the state.
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Who can be relevant? A genealogy agent must be a resident of Illinois or a company authorized to do business in Illinois as a registered agent service. Pick a person in a company you own.
Recommended: Northwest offers first year free LLC written proxy services ($29 + state fee) Step 3: File Illinois LLC Articles of Organization
To register an Illinois LLC, you will need to sign LLC-5.5 – Articles of Organization with the Secretary of State. Or you can apply online by mail.
If you are extending your existing LLC into Illinois, you will need to form a foreign LLC.
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In Illinois, an LLC is not required to have an operating agreement, but it is desirable to have one.
What is a Work Agreement? The operating agreement is a legal document that outlines the ownership and operating procedures of the LLC.
Why are contracts so effective? A comprehensive operating agreement ensures that all owners are on the same page and reduces the risk of future conflicts.
What are EINs? EIN stands for Employer Identification Number. An EIN is a nine-digit number assigned by the Internal Revenue Service (IRS) to help identify a business for tax purposes. Social Security numbers are for business by nature.
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An EIN is sometimes called a Federal Employer Identification Number (FEIN) or Federal Tax Identification Number (FTIN).
What if I already have an EIN for my only property? The IRS requires sole proprietors to obtain a new EIN when converting to an LLC.
Where do I get my EIN? You can get an EIN from the IRS for free. An EIN is a simple process that can be done online or by mail.
International EIN Applicants: You do not need an SSN to obtain an EIN. For more information, read our guide on how to meet strangers.
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LLC is short for Limited Liability Company. It is a simple business structure that offers greater flexibility than a traditional corporation while providing many of the same benefits. An LLC is one of several business structures, such as sole proprietorships, partnerships, and corporations (C corp and S corp). For more information, read our What is an LLC guide.
If you’re having trouble coming up with a name for your LLC, use our LLC name generator. Not only will you find a unique name for your business, but an available URL to match.
After getting a business name, the next step is a unique logo. Get your own unique logo with our free logo generator.
Most LLCs do not require a DBA. As an LLC, you can register your name and receive checks and other payments in that name. However, if you wish to do business under a different name, please register as a DBA.
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Yes. You or someone else in your county can act as the registered agent for an Illinois LLC.
Using the office of a professional registered agent is an affordable way to manage your Illinois LLC government filings. For most businesses, the benefits of using professional services far outweigh the annual costs.
Organizing articles online or by mail takes 10 days, but can be processed for an additional fee.
When an LLC does business in the state in which it is incorporated, it is called a “domestic LLC.” Northerners and LLCs
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