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How long does it take for an LLC to be approved in Illinois?

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.

What is a series LLC in Illinois?

Generally, a Series LLC is a limited liability company that has separate "mini-LLCs" within the larger entity, each with separate members, managers, assets and liabilities, and business interests. The LLC itself, and not the individual series, is now treated as the legal entity under Illinois law.

Does each Series LLC need its own EIN in Illinois?

Usually, only one tax return is filed for the LLC, to include the net income or loss from each series. However, each series must have its own EIN number and keep separate books and records.

How do I form an LLC in Illinois?

Just follow these eight steps, and you'll be on your way. Name Your Illinois LLC. ... Choose Your Registered Agent. ... Prepare and File Articles of Organization. ... Receive a Certificate From the State. ... Create an Operating Agreement. ... Get an Employer Identification Number. ... Register your LLC with the Illinois Department of Revenue.

How much does it cost to create an LLC?

Filing costs will vary depending on the state laws but generally range from around $40 to up to $500 . Along with filing the articles of organization, most states require that businesses obtain a business license. Business license costs range from around $50 to $100 in most states.

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