The Internal Revenue Service (IRS) issues firms an Employer Identification Number (EIN), a nine-digit number used for tax identification. You might need to get an EIN if you’re opening a new company in Illinois. But how much does an Illinois EIN number cost? The unfettered nature of it is the answer.
Yes, an EIN for your company can be obtained in Illinois for free. On the IRS website, you can submit an online application for an EIN. The procedure is really simple, and it usually only takes a few minutes to finish. You’ll get your EIN right away after submitting your application. You can only apply for one EIN every day, so keep that in mind.
A business must pay to register in Illinois even if getting an EIN is free. Depending on the kind of business you’re creating and the organizational structure you pick, registering a business in Illinois will cost you a different amount. A limited liability company (LLC) must pay $150 to be registered in Illinois, for instance. The fee for forming a corporation is $150 as well. Partnerships and sole proprietorships are exempt from state registration requirements, but they may need to apply for additional licenses and permissions, which will raise the cost of launching a firm overall.
You must give specific information about your company, including the legal name, physical address, and type of business entity, in order to obtain an EIN in Illinois. Additionally, you must include the owner of the business’s name and social security number. Usually, the owner or a selected officer is in this position. You’ll get your EIN right away after submitting your application.
You can monitor the status of your filing if you’ve already registered an LLC in Illinois by visiting the Illinois Secretary of State website. To access your filing details, you must enter your LLC name or file number.
A business that specialized in assisting companies with compliance difficulties, such as obtaining and keeping their EIN, is Harbor Compliance. They provide a variety of services, such as licensing, compliance management, and business registration. Harbor Compliance might be able to help if you need help obtaining your EIN or with other compliance-related problems.
To sum up, getting an EIN for your company in Illinois is free, but registering with the state will cost money. Getting an EIN is a fairly simple process that may be completed online via the IRS website. Companies like Harbor Compliance can help if you need assistance with compliance-related concerns.