Professional Corporation Package for Illinois
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How to fill out Professional Corporation Package For Illinois?
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FAQ
The main difference between a professional corporation and a limited liability company (LLC) lies in their structure and purpose. A professional corporation is designed specifically for licensed professionals, whereas an LLC can be used for a broader range of businesses. Additionally, professional corporations have stricter regulatory requirements in Illinois. Our Professional Corporation Package for Illinois can help you navigate these complexities and choose the right structure for your needs.
A professional corporation is a variation of the corporate form available to entrepreneurs who provide professional servicessuch as doctors, lawyers, accountants, consultants, and architects.In a professional corporation, the owners perform services for the business as employees.
To form an Illinois LLC you will need to file the Articles of Organization with the Illinois Secretary of State, which costs $150. You can apply online or by mail. The Articles of Organization is the legal document that officially creates your Illinois limited liability company.
To form an Illinois LLC you will need to file the Articles of Organization with the Illinois Secretary of State, which costs $150. You can apply online or by mail. The Articles of Organization is the legal document that officially creates your Illinois limited liability company.
The articles must include the corporate name; the name and street address of an agent for service of process; its purpose; the number of shares the corporation is authorized to issue and the consideration (money or property) the corporation will receive for the shares; and the names and addresses of the incorporators.
A PLLC, or professional limited liability company, is a special type of LLC that may only be formed by licensed professionals for the purpose of rendering professional services. While this is not required, doing so can be beneficial for tax, liability, financing, and other reasons.
In most cases, business owners can amend the articles of organization of an LLC to change to a PLLC. For example, the state of Arizona requires that a company complete a form to amend its articles of organization and change the name of the company from LLC to PLLC.
How much does it cost to form an LLC in Illinois? The Illinois Secretary of State charges $150 to file the Articles of Organization. You can reserve your LLC name with the Illinois Secretary of State for $25.
Step One) Choose a PLLC Name. Step Two) Designate a Registered Agent. Step Three) File Formation Documents with the State. Step Four) Create an Operating Agreement. Step Five) Handle Taxation Requirements. Step Six) Obtain Business Licenses and Permits.
A professional corporation is a corporation organized under the Professional Service Corporation Act solely for the purpose of rendering one category of professional service or related professional services and which has as its shareholders, directors, officers, agents and employees (other than ancillary personnel)