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Illinois LLC taxes and fees The following are taxation requirements and ongoing fees for Illinois LLCs: Annual report. Illinois requires LLCs to file an annual report during the 60-day period before the first day of the anniversary month of the incorporation date. The annual report fee is $250.
Illinois-based LLCs are required to file an Annual Report every year. The filing fee for your annual report is $75, and there is a $100 fee if it is not filed within 60 days of its due date.
Illinois is one of only eight states where businesses can establish Series under limited liability companies (LLCs). This gives Illinois businesses an interesting option. A Series LLC is a unique structure that combines the flexibility of a partnership with the liability limitation of an LLC.
The formation of an LLC broadly requires filing the articles of organization which is a document including basic information like business name, address, members. The filing is done with the Secretary of State for most states and has an associated filing fee.
​Illinois recently enhanced their online filing portal to include the Illinois LLC 5.5(S) form (Articles of Organization Series LLC). The service provides for routine filing (typically a 10 day turn-around) or expedited filing (24 - 48 hour turn-around). Either service type can be secured online with a credit card.
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Illinois does not require an operating agreement in order to form an LLC, but executing one is highly advisable.
Illinois Series LLC LLCs are considered pass-through entities for taxation, which means that the owner or owners report business profits and losses on their individual tax returns. Although an LLC provides the limited liability of a corporation, this entity is easier to form.
To form an LLC in Illinois, you must file Form LLC-5.5, or the Articles of Organization, with the Secretary of States Department of Business Services. You could choose to make the formation effective on the filing date or at a later time, as long as it does not exceed 60 days. The filing fee is $150.
If the LLC is a corporation, normal corporate tax rules will apply to the LLC and it should file a Form 1120, U.S. Corporation Income Tax Return. The 1120 is the C corporation income tax return, and there are no flow-through items to a 1040 or 1040-SR from a C corporation return.
Illinois LLC Approval Times Mail filings: In total, mail filing approvals for Illinois LLCs take 3-4 weeks. This accounts for the 10-15 business day processing time, plus the time your documents are in the mail. Online filings: In total, online filing approvals for Illinois LLCs take 7-10 business days.

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