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Does IL require a business license?

In Illinois, most business are required to be registered and/or licensed by the IDOR. If you plan to hire employees, buy or sell products wholesale or retail, or manufacture goods, you must register with the IDOR. To obtain information contact: Illinois Department of Revenue.

How do I find information on a business?

Bloomberg News Service and Lexis/Nexis provide news stories about a company. Dun Bradstreet, Moodys, Hoovers Profiles, and Standard Poors Corporate Profiles provide financial data about companies. These and other sources are available in many libraries or law and business school libraries.

How do I find out if a business is legitimate in Illinois?

You can find information on any corporation or business entity in Illinois or another state by performing a search on the Secretary of State website of the state or territory where that corporation is registered.

How do I look up a sole proprietorship in Illinois?

The Illinois Secretary of State website keeps a registry of Illinois business entities that exist or have dissolved through the corporation division. The database is free to use and makes it easy to find existing businesses or see if a business name may be available.

How much does it cost to start a business in Illinois?

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.

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