How much does it cost to set up an LLC in Illinois?
The least expensive route possible to start an LLC in Illinois is $150. However, that is the 1 month+ processing time, DIY filing option. If you hire someone to start your LLC for you, who you hire, and the state processing method you select will all contribute to the total cost to start your LLC in Illinois. Illinois Registered Office charges $254 for standard, 10 day processing, or $356 for expedited processing.
Are there ongoing costs or requirements?
Yes. Illinois LLC are required to file an annual with the IL Secretary of State each year. This report is due the month prior to the business’s anniversary month. So, if an LLC was formed on October 4th, their report would be due in September of the following year (and every year after that). If you miss the deadline, you’ll be charged a late fee and, depending on how overdue your filing is, possibly face administrative consequences.
To help prevent you from missing a report, we include enrollment in our Annual Report Compliance Service with LLC formation. The service costs nothing upfront. You’ll receive reminders about your report as the deadline nears and can choose to keep the service or cancel and file on your own. Compliance service is $100 plus the state fee, charged only at filing.
Do LLCs pay taxes in Illinois?
Just like at the federal level with the IRS, the LLC itself will not pay a general, company-level state tax. Instead, the tax responsibility passes through to the individual members who will file individual income taxes. Some LLCs may have other taxes to consider such as sales tax, or industry specific taxes, so check the Illinois Department of Revenue business page for more information.
Do I need a website for my Illinois LLC?
It’s not a requirement to have a business website, just as there’s no requirement to have a brick-and-mortar store. However, having a website is one of the easiest and most important marketing strategies for small businesses.
Similar to having a storefront, having a website gives you your very own slice of the internet, where customers and clients will find you, make purchases, and learn more about what you do as a company. Not only will you have the ability to connect to way more people than you would at a single physical location, but you’ll be able to do so for a fraction of the cost.
Can I get a DBA for my Illinois LLC?
Yes. Well, kind of. Here in Illinois, our “DBA names” are called trade names. But either way it’s the same thing: a name your company uses to conduct business that is not listed on your Articles of Organization.
The process to adopt a tradename for your LLC is a little weird in Illinois. Tradename registrations are based on 5 year increments and pro-rated accordingly. You can find more information on the IL Secretary of State website, or take the easier route and hire us to obtain your tradename(s) after your LLC is formed through your online account with us. Our fee is always $125 plus the state’s filing fee. Check out the chart below for detailed pricing:
Years ending in
|
State fee + Processing fee
|
Our fee
|
Total
|
0 or 5
|
$150 + $3
|
$125
|
$278
|
1 or 6
|
$120 + $3
|
$125
|
$248
|
2 or 7
|
$90 + $3
|
$125
|
$218
|
3 or 8
|
$60 + $3
|
$125
|
$188
|
4 or 9
|
$30 + $3
|
$125
|
$158
|