State Information


Selecting the Illinois Corporation or LLC Name

The name will be unique and will identify you as a separate entity transacting business in the state of Illinois. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.
Since the name will be identifying your corporation or LLC as a unique entity, the name will not be accepted if it is likely to mislead the public or if it too closely resembles the name of another corporation or LLC formed in Illinois.
Illinois requires that you do not use any type of punctuation such as dashes, asterisks, periods or commas in name selection. It is advantageous to try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A Illinois corporation can have several members listed as directors but is only required to have one. Since the board is responsible for managing the corporation, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. There is no minimum age requirement for a director in Illinois.

Illinois Taxes

Corporations based in Illinois are expected to file the Illinois Corporation Income and Replacement Tax return, Form IL 1120 annually, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors and there is no minimum tax.
An LLC within Illinois is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Illinois maintains an individual income tax so employers are expected to withhold state income tax and unemployment tax. Illinois maintains a sales and use tax of two rates, 1% and 6.25%.

Registered Agent

The registered agent must have a physical street address within Illinois state. PO boxes are not acceptable, within Illinois.
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