Making the best business structure selection is just one of many crucial choices that must be made when starting a firm. The Limited Liability Company (LLC) is one of the most widely used company formats for startups and small companies. An LLC offers flexibility of a partnership-style management structure along with personal liability protection for the owners. You might be curious about the price if you’re considering creating an LLC in Illinois.
The registration fee and the yearly report fee are the two main costs involved in incorporating an LLC in Illinois. The filing fee for an LLC in Illinois is $150 as of 2021. When you submit your articles of organization, you must pay this fee to the Secretary of State’s office in Illinois. Illinois LLCs must submit an annual report along with the filing fee each year. Illinois charges an annual report cost of $75 for LLCs.
– Your LLC’s name
– Your LLC’s duration (if it is not perpetual)
– The names and addresses of each manager or member
You must complete a Michigan Articles of Organization LLC if you’re incorporating an LLC in Michigan. Similar details to those in the Illinois LLC Article 2 are required in this document, including your LLC’s name, its purpose, and the name and address of your registered agent. A Michigan LLC must pay a $50 filing cost and a $25 yearly report charge.
The articles of organization, which are submitted with the state and contain fundamental information about your LLC, such as its name and purpose, are significant legal documents that establish and govern the functioning of your LLC. The operating agreement, on the other hand, is a private contract that describes internal operations of your LLC. Both of these documents must be in place for your company to be protected and run effectively.
You can submit your articles of organization online through the Texas Secretary of State’s website if you’re incorporating an LLC there. Texas LLC filing fees are $300, and yearly report fees are $0. However, Texas LLCs must submit a Public Information Report annually, which costs $5 to file.
In conclusion, the filing charge for an LLC in Illinois is $150, and the annual report fee is $75. In order to complete an LLC Article 2 in Illinois or Michigan, you must include some basic details about your company and registered agent. To protect your company and make sure it runs effectively, you need have both operating agreements and articles of organization in place. You can submit your articles of organization online for $300 if you’re founding an LLC in Texas.