Business For Status In Illinois

State:
Multi-State
Control #:
US-0046-CR
Format:
Word; 
Rich Text
Instant download

Description

The document titled 'Resolution' serves as a formal record for a corporation in Illinois to elect S Corporation status, allowing for potential tax benefits under the Internal Revenue Code and state tax code. This resolution is crucial for corporations considering a change in their tax structure, and it outlines the authority granted to corporate officers to execute necessary paperwork. The key features include the detailed authorization for officers to act on behalf of the corporation, the approval of prior actions, and the requirement for undersigned certification by the Secretary. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this document essential for compliance, ensuring that all necessary actions are legal and binding. The form should be filled accurately, with users replacing placeholder text with specific names and dates. It serves as a tool for facilitating the transition to S Corporation status and supports effective corporate governance. By following the provided format and instructions, users can ensure that their resolution meets both legal standards and their organizational goals.
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  • Preview Obtain S Corporation Status - Corporate Resolutions Forms

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FAQ

Illinois Domestic Entity Certificate of Good Standing LLCs: An Illinois Certificate of Good Standing for an LLC certifies the LLC's formation date; that the LLC is a domestic entity; that the LLC has appeared to have complied with state statutes governing LLCs; and that the LLC is in good standing.

Start Your Illinois Business Registration Now Step 1: Choose an Illinois Entity Type. Step 2: Find the Name for Your Business. Step 3: Register Illinois DBA, LLC, or Corporation. Step 4: Apply for an Employer ID (EIN) Step 5: Open a Business Bank Account and Establish Credit. Step 6: Apply for Illinois Licenses and Permits.

Please allow 6 to 8 weeks for processing if you complete and mail Form REG-1 to us. If applicable, you will be issued a Certificate of Registration or License and taxpayer ID (i.e., your “tax” number).

You will receive a Certificate of Registration (or a License, if your business needs special tax licenses) and a taxpayer ID. The Certificate of Registration and taxpayer ID are required to do business in the state, and the Illinois taxpayer ID is different from your LLC's federal EIN number.

Your newly-created business (employing unit) must register with IDES within 30 days of start-up. Employers can register electronically through the MyTax Illinois ​website. Submit a completed and signed REG-UI-1 form, "Report to Determine Liability Under the Illinois Unemployment Insurance Act".

Commercial licenses can be obtained online after registering with the IDNR.

In general, what constitutes doing business, or qualifying to do business, ultimately revolves around the ability to sue and be sued. Which is why there is a statutory requirement to maintain a registered agent that resides in Illinois for the sole purpose of accepting service of process and State correspondence.

The Illinois business registration process involves the following steps: Choose a business idea. Choose a legal business entity. Choose a business name. Form your business with the State of Illinois. Register for business taxes and apply for relevant licenses and permits. Select a location and check zoning regulations.

Illinois requires that all sole proprietorships, general partnerships, corporations, limited liability companies (LLCs), limited partnerships (LPs), limited liability partnerships (LLPs), or out-of-state companies that regularly transact business in Illinois under a name different from their legal name, must file a DBA ...

Illinois requires each LLC to have a registered agent and an office with a physical street address (no PO Boxes) in Illinois in order to receive service of process and any official correspondence from the Illinois Secretary of State.

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Business For Status In Illinois