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How much does it cost to register a business in IL?

Your main cost when starting an LLC in Illinois will be the states LLC registration fee, which is $150. On top of that, youll need to shell out $75 each year to file your Illinois annual report. Youll also have additional expenses to think about, like hiring a registered agent and purchasing business insurance.

How long does it take to get your business license in Illinois?

If you register by mail or fax, you should receive your Certificate of Registration or License electronically or through the mail, depending on the tax type, in approximately six to eight weeks.

Do I need to pay business income tax in Illinois?

Illinois also requires traditional corporations, S corporations, LLCs, and partnerships to pay a personal property replacement tax. This tax is based on a businesss net income. For traditional corporations, the tax is 2.5% of net income, and for other forms of business, the tax is 1.5% of net income.

What qualifies as a small business in Illinois?

Small business means any for profit entity, independently owned and operated, that grosses less than $4,000,000 per year or that has 50 or fewer full-time employees. For the purposes of this Act, a small business has its principal office in Illinois.

Do I have to register my business with the state of Illinois?

You must register with the Illinois Department of Revenue if you conduct business in Illinois, or with Illinois customers. This includes sole proprietors (individual or husband/wife/civil union), exempt organizations, or government agencies withholding for Illinois employees.

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How do I register as a retailer in Illinois?

To register as a reseller, you may choose one of the following options: Register electronically using MyTax Illinois. Complete and mail Form REG-1, Illinois Business Registration Application. Visit a regional office.

How do I get a vendors License in Illinois?

Steps to Getting Your Illinois Business License Name and form your company. Apply for your Illinois business license. Determine which other local licenses may be applicable. Apply for any additional statewide license(s) you need. Apply for federal licenses and tax treatment (as necessary)

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Do I have to register my business with the state of Illinois?

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