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A domestic limited liability company is a legal entity that establishes a company within the business owner's state. Domestic limited liability companies are limited liability companies that register in the state they intend to do business in.
What is an Illinois service corporation?
A professional service corporation organized under the Illinois Professional Service Corporation Act (\u201cthe Act\u201d), 805 ILCS 10/ et. seq. , is organized solely for the purpose of rendering one category of professional services or related professional services.
How do I file a foreign entity in Illinois?
To register a foreign corporation in Illinois, you must file an Illinois Application for Authority with the Illinois Secretary of State, Department of Business Services. You can submit this document by mail or in person. The Application for Authority for a foreign Illinois corporation costs $175 to file.
What is a foreign corporation in Illinois?
DEFINITION. A foreign corporation is a corporation organized under the laws of a state or country other than Illinois.
What is the difference between a foreign corporation and a domestic corporation?
\ufffd\ufffd\ufffd\ufffd\ufffd Domestic Corporation: A corporation incorporated in a given state and doing business in that same state. \ufffd\ufffd\ufffd\ufffd\ufffd Foreign Corporation: A corporation doing business in a given state, but incorporated in another state.
il form bca 14 05
illinois bca 14.05 instructionsillinois form bca 14.05 due dateillinois bca 14.05 foreignillinois franchise tax instructionshow to calculate illinois franchise taxillinois annual report instructionspay illinois franchise tax online
Related forms
About Form 8865, Return of U S Persons With Respect to
This method is based on the amount of money your business earns from its shareholders in exchange for stock. The first year, you'll pay 0.15% of your total paid in capital. Afterwards, you'll pay 0.1%.
Do I need to register as a foreign corporation in Illinois?
According to Illinois's LLC Act, you are required to register your foreign company with the state of Illinois if you are "transacting business" in Illinois.
What is a domestic BCA corporation in Illinois?
\u200bDomestic 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.
How do I dissolve a foreign corporation in Illinois?
To withdraw your foreign corporation in Illinois, you must complete and submit BCA 13.45, Application for Withdrawal and Final Report form in duplicate, by mail or in person to the Illinois Secretary of State, with the filing fee.
What is the purpose of franchise tax?
The term franchise tax refers to a tax paid by certain enterprises that want to do business in some states. Also called a privilege tax, it gives the business the right to be chartered and/or to operate within that state.
Related links
Domestic and Foreign Corporations Publications/Forms
FeeExpedited Fee; in addition to feePhotocopy/Certified CopyVariesVariesBCA 1.15Statement of Correction$50N/ABCA 1.17Petition for Refund or Review$5N/A
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