How Much Does a Seller’s Permit Cost in Illinois?

A seller’s permit, commonly known as a resale certificate, is required if you want to sell goods or services in Illinois. As a result, you are able to legitimately collect sales tax from your clients and send it on to the state. A seller’s permit is free in Illinois, although there are other costs involved in getting one.

You must complete an application form and submit some basic information about your company, including your tax ID number and the kinds of goods or services you intend to sell, in order to apply for a seller’s permit in Illinois. You can submit an application by mail or online through the Illinois Department of Revenue website. You must provide a $5 processing fee with your application if you submit it by mail.

You might also need to register your business name with the state in addition to the seller’s permit. A DBA, or “doing business as” name, is what this is. A DBA is not the same as an assumed name, which is what a business owner does when they want to use a name other than their own to conduct business. In Illinois, registering a DBA costs $150.

Whether it is preferable to establish many LLCs or DBAs depends on how many firms you intend to operate under various names. The response is based on your particular circumstance. Since each LLC is an independent legal entity, having many LLCs often gives your personal assets additional protection. However, keeping many LLCs active can also be more expensive and time-consuming. DBAs, however, do not offer the same level of liability protection as LLCs do, while being simpler and less expensive to set up.

And finally, an LLC can be the owner of another LLC. This is referred to as an LLC subsidiary. The parent LLC would be in charge of the subsidiary LLC and accountable for its deeds. However, creating a subsidiary LLC might be difficult, and an accountant or lawyer could be needed.

In conclusion, obtaining a seller’s permit in Illinois is free, however establishing and running a business in the state entails additional costs. Before beginning, it’s crucial to perform your homework and comprehend the expenses and prerequisites.