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Illinois a corporation

Illinois a corporation 2025

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The document outlines the organizational minutes for an Illinois Professional Corporation, detailing the actions taken by the incorporators, shareholders, and board of directors in lieu of a formal meeting. It includes resolutions for the election of directors and officers, approval of articles of incorporation and by-laws, establishment of a corporate bank account, and decisions regarding taxation status as an 'S Corporation'. The document serves as a template for recording necessary organizational actions in compliance with the Illinois Business Corporation Act.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can you start a corporation by yourself?

Start a corporation with one person The benefit to a single-member corporation is that you avail yourself of all the benefits like protection from liability without the complexity of a multi-owner corporate structure.

What is an Illinois corporation?

Fundamentals Of The Illinois Corporation. Illinois corporations are governed by the Business Corporation Act of 1983 (805 ILCS 5). A corporation is a form of business organization that is a distinct legal entity separate from its owners, who are known as shareholders.

How do I set up a corporation in Illinois?

To start a corporation in Illinois, youll need to do three things: appoint a registered agent, choose a name for your business, and file Articles of Incorporation with the Department of Business Services. The articles cost $150 to file (plus a $4 online processing fee).

Is it better to start an LLC or corporation?

You might choose an LLC if you want to avoid corporate taxation, dont plan to fundraise with investors and prefer minimal formal regulations. You might choose a corporation, on the other hand, if youre looking to sell ownership, attract investors or go public in the future.

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

Formation StateINC FeesLLC Fees Illinois $180 $150 Indiana $91 $91 Iowa $50 $50 Kansas $90 $16547 more rows

What are the different types of corporations in Illinois?

There are several ways to organize businesses in Illinois. They are Sole Proprietorships, General and Limited Partnerships, Limited Liability Partnerships (LLP), Limited Liability Companies (LLC), S Corporations and C Corporations.

Why incorporate in Illinois?

Advantage#1: The benefits of Incorporation or LLC formation Pass through taxation: If you register a new company in Illinois as an S corporation then the corporation or firm will not pay any income tax. Instead, the income or loss of the corporation will be passed on to the stockholders.

Illinois a corporation 2025

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