You might be asking how to register an out-of-state business in Illinois if you’re planning to expand your company there. Thankfully, the procedure is not too complicated. We’ll go over the procedures you must follow to register your business in Illinois and respond to some frequently asked questions regarding opening a business in the state in this post.
Step 1: Verify the Name’s Availability Make sure the name you want to use is available before registering your business in Illinois. On the website of the Illinois Secretary of State, you can perform a name availability search. You must select an alternative name if the one you want is taken.
Step 2: Declare Your Company
You must submit a Foreign LLC Registration to the Illinois Secretary of State in order to register your company in that state. Online or mail-in filing is an option. There is a $150 filing fee.
Obtain an Illinois Registered Agent in Step 3 To receive court documents and formal communication on behalf of your company in Illinois, you must designate an Illinois Registered Agent. The representative must be accessible during regular business hours and have a physical address in Illinois.
Step 4: Obtain an Illinois Business License
You might need to do this depending on the kind of business you’re running. On the website of the Illinois Department of Revenue, you can look out the criteria for your particular type of business.
LegalZoom: Is It Legit? LegalZoom is a reputable online law firm that can assist you with a range of legal requirements, including company registration. It’s crucial to keep in mind, though, that using their services can cost more than submitting paperwork to the state directly. Additionally, they might not provide the individualized service and guidance that an attorney can.
How much does an Illinois LLC’s annual fee cost? In Illinois, an LLC must pay a yearly charge of $75. On the anniversary of the day your LLC was founded, you must pay this charge. How Can I Launch My Own Business Without Any Money? Although it can be difficult, starting a firm without any money is not impossible. Starting a service-based firm with low startup expenses is one alternative. You might also think about doing some crowdsourcing or obtaining a small business loan. You can also search for tools and initiatives intended to support the launch of small enterprises. How Much Does a DBA in Illinois Cost? Depending on the county where you file, a DBA in Illinois might cost anywhere from $100 to $500. For instance, the cost in Cook County is $47. The cost in DuPage County is $30. It’s crucial to confirm the exact cost in your location with the county clerk’s office.
In conclusion, there are a few procedures involved in registering an out-of-state business in Illinois, including confirming the availability of the name, submitting a Foreign LLC Registration, locating an Illinois Registered Agent, and applying for an Illinois business license if required. LegalZoom is a reputable option for business registration, but it might not be the most economical or individualized choice. Illinois has a $75 yearly fee for an LLC, and each county has a different DBA price. Starting your own business in Illinois can be beneficial if you put some effort and research into it.
Any company that conducts business inside the boundaries of Chicago must have a City of Chicago business license. This comprises companies with an out-of-state headquarters but a physical presence or operations in Chicago.
An LLC may have greater taxes than other business entities like a sole proprietorship or a partnership, which is a drawback of the LLC. Self-employment taxes are applicable to LLCs, which can be a major cost for the business owner. Additionally, LLCs can be subject to more complicated tax laws and filing requirements, which would add to the administrative work required of the business owner.