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The short answer is yes, an LLC will still need to obtain a business license in Illinois. The exact type of business license or licenses will depend on your location and the type of business you operate, but an LLC is not the same as a business license and instead establishes the legal tax identity of your business.
Illinois Corporation Incorporation: $150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online. Franchise tax is calculated as $1.50 per $1,000 on the paid-in capital represented in this state.
This application is used to create an Illinois Limited Liability Company. An LLC formed in another state or jurisdiction cannot use this application.
FeeLLC 50.1Limited Liability Company Annual Report$75LLC 50.25LLC Request Form for Certificate of Good Standing and/or Copies of DocumentsLWCA 1.36Illinois Limited Worker Cooperative Association Act Statement of Change of Registered Agent and/or Registered Office$2547 more rows
LLCs have fewer compliance requirements than corporations. LLC earnings arent subject to double taxation in the way that C-corporation income is. LLCs can choose to be taxed as a pass-through entity or corporation. Illinois LLCs pay a lower personal property replacement tax than corporations.
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How much does it cost to form an LLC in Illinois? The Illinois Secretary of State charges $150 to file the Articles of Organization. You can reserve your LLC name with the Illinois Secretary of State for $25.
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.
A general Corporation making a Subchapter S Election or an LLC with or without a Subchapter S Election pays no federal tax on its taxable income and no employment taxes on its distributions to stockholders.
Just follow these eight steps, and youll be on your way. Name Your Illinois LLC. Choose Your Registered Agent. Prepare and File Articles of Organization. Receive a Certificate From the State. Create an Operating Agreement. Get an Employer Identification Number. Register your LLC with the Illinois Department of Revenue.
The LLC has no Illinois income tax filing requirements.

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