How to Incorporate in Illinois
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5 Steps to Incorporate or Form an LLC in Illinois
1. Make sure your company name choice is available.
Your company name must include the correct corporate or LLC identifier:
Corporations: “Corporation”, “Incorporated” or an abbreviation.
LLC’s: “Limited Liability Company” or an abbreviation.
Name Restrictions: The word “trust”, “trustee”, or “fiduciary” may be used by a corporation only if it has first complied with Section 1 9 of the Corporate Fiduciary Act. The word “bank”, “banker” or “banking” may only be used by a corporation if it has first complied with Section 46 of the Illinois Banking Act. LLC’s cannot use: “Corporation,” “Corp.,” “Incorporated,” “Inc.,” “Ltd.,” “Co.,” “Limited Partnership” or “L.P.”
2. File the correct paperwork with the State’s filing office.
For Corporations you must file “Articles of Incorporation”, for LLC’s you must file “Articles of Organization”.
3. Hold the “Organizational Meeting” and adopt the company’s Bylaws (Corporations) or Operating Agreement (LLC’s).
4. Obtain a Federal Employer Identification Number (FEIN) for your company and open a company bank account.
5. Get a local business license from the city (or county) where you will be doing business.
MyNewCompany.com can assist you will all the steps above. Our service includes:
In Illinois, you can authorize an unlimited number of shares of No Par Value stock.
Annual Report due annually prior to the month of original filing.
Annual Report Fee: $75 for corporations; $250 for LLCs.