You must first register your firm with the Illinois Department of Revenue in order to apply for a sellers permit in Illinois. You can send Form REG-1 to register your business or register it online utilizing the Illinois Business Registration Application (IBRA). After registering your firm, you can use Form ST-1 to submit an online application for a sellers permit through MyTax Illinois.
A sellers permit in Illinois is free, but depending on the kind of business you run, you might need to put down a security deposit. For instance, a $1,000 security deposit is required if you sell tobacco items or gasoline. If you have a solid track record of compliance, the security deposit is recoverable after a specific amount of time. If you intend to buy products from a manufacturer or distributor and resell them, you might also need to get a wholesale license in addition to a sales permission. A three-year, $150 license for wholesale sales is available in Illinois.
Depending on the kind of business entity you select, Illinois’s business registration fees change. For instance, you just need to file a DBA (Doing Business As) form with your county clerk’s office, which normally costs less than $100, to register a sole proprietorship or partnership. However, you must file articles of organization or incorporation with the Illinois Secretary of State, which can cost several hundred dollars, if you intend to establish a limited liability company (LLC) or corporation.
You can request a copy of your registration online through the Illinois Secretary of State’s website if you have already registered your business there and need a copy of it. To acquire a copy of your registration, you will need to supply your business name and registration number.
In conclusion, getting a sellers permit is crucial if you intend to sell goods or services online in Illinois in order to avoid fees and penalties. A sellers permit is free, but depending on the kind of business you run, you might have to put down a security deposit. Additionally, if you want to buy products from a manufacturer or distributor and resale them, you might need to get a wholesale license. You can acquire a copy of your registration online through the website of the Illinois Secretary of State, and the fee to register a business in Illinois varies depending on the type of business entity you select.