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What is an Illinois LLC?

Under Illinois law, the name of your Illinois LLC must end with one of the following words: Limited Liability Company, L.L.C., or LLC. Businesses that require professional certification, such as doctors and lawyers, must have Professional Limited Liability Company, P.L.L.C. or PLLC at the end of their company name.

What is an Illinois corporation?

Illinois Corporation or Illinois INC, is a business formation registered with the Illinois Secretary of State. The Illinois Corporation will be able to issue shares of stocks to employees and investors, unlike an LLC in Illinois. Illinois Corporation Requirements. State Filing Fee of $150.

Who is the largest employer in Chicago?

Largest employers #EmployerEmployees1U.S. Government49,4002Chicago Public Schools39,0943City of Chicago30,3404Cook County, Illinois21,48221 more rows

Is an LLC free in Illinois?

Cost to Set Up an LLC in Illinois The filing fee to create a domestic LLC in Illinois is $150. The cost to file a foreign LLC in Illinois is the same as a domestic LLC, $150. After setting up your LLC, you will then need to pay an annual filing fee of $75.

Is Illinois a good state to form an LLC?

An Illinois LLC is considered advantageous because it offers the same limited liability as a corporation, but with less formality in its creation and operation.

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