Illinois create 2025

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In both 1997 and 2021, Illinois largest industry category was Finance, Insurance, Real Estate, Rental and Leasing. This sector totaled $213 billion in 2021, which made up 22.5% of total GDP This was 1.4 percentage points higher than its share in 1997.
Following U.S. independence in 1783, which made the Mississippi River the national boundary, American settlers began arriving from Kentucky via the Ohio River. Illinois was soon part of the United States oldest territory, the Northwest Territory, and in 1818 it achieved statehood.
The fastest way to get an LLC in Illinois is to file it yourself online and pay $100 for expedited processing. This option has the fastest approval time.
6 Steps to Form an Illinois LLC Select a name for your LLC. Appoint a legal registered agent. File Articles of Organization. Create an operating agreement. Obtain an EIN for your Illinois LLC. File your Beneficial Ownership Information Report.
Revenue Level: While theres no specific income threshold for forming an LLC, many small business owners consider forming one when their annual revenue reaches around $50000 to $100000. This is often when the benefits of liability protection and potential tax advantages become more significant.
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As mentioned above, the initial fee for filing an LLC in Illinois is $150, with an annual $75 renewal fee. Sole proprietorships and general partnerships are not required to register, so there is no registration cost.
When they decide to incorporate or form an LLC, they see using a home business address as a simple solution. Technically, it is legal to use your home address for your LLC, Sole Proprietorship, Limited Liability Company, C Corporation, or other business entity.

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