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What is a domestic BCA in Illinois?

How much does a foreign LLC cost in Illinois? Applying for foreign qualification in Illinois comes with a filing fee of $150, plus an extra fee if youll also be applying for an assumed name. Your home state may also charge a fee for a Certificate of Good Standing, which is required with the registration application.

What does domestic BCA mean in Illinois?

Domestic BCA: Any company that files Articles of Incorporation in the State of Illinois under the Business Corporation Act of 1983, as amended is considered a domestic corporation in the State of Illinois.

What is considered a domestic partner in Illinois?

C Corporation vs. The profit distribution in LLCs is not bound by the number of shares held by each member, unlike C Corporations. Additionally, LLCs typically enjoy pass-through taxation, whereas C Corporations are subject to corporate tax rates.

What is the difference between an LLC and a C Corp in Illinois?

The BCA 13.15 Foreign Corporation Requirements allow entities domesticated in a State other than Illinois to conduct business in Illinois. Corporations formed in a State other than Illinois are considered Foreign Corporations.

How much does it cost to register a foreign LLC in Illinois?

Illinois franchise tax is calculated by multiplying 0.001 by an estimate of the portion of your business that takes place in Illinois, multiplying that by Paid-in Capital, before adding penalties/interest (if applicable) and a Filing Fee. The annual report form has a worksheet to calculate what you owe.

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