Illinois Business Credit Application
Description
How to fill out Illinois Business Credit Application?
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FAQ
Electronically through MyTax Illinois, by calling us at 217-785-3707, or. at one of our offices.
For small businesses under 50 full-time employees: The credit is for $2,500 per job (that can be carried forward) and it must be applied against their Illinois withholding tax. The employer is entitled to a one credit ($2,500) if the position is filled for one year.
Name Your Illinois LLC. Choose a Registered Agent. File the Articles of Organization. Create an Operating Agreement. Get an EIN.
Electronically register through MyTax Illinois (approximately one to two days to process); complete and mail Form REG-1, Illinois Business Registration Application, to us at the address on the form (Form REG-1 is available on our web site as a fill-in and savable form. visit one of our offices.
Choose a Corporate Name. File Articles of Incorporation. Appoint a Registered Agent. Prepare Corporate Bylaws. Appoint Directors and Hold First Board Meeting. File Annual Report. Obtain an EIN.
The State of Illinois requires you to file an annual report for your LLC. You can file the annual report online at the SOS website or by mail using Form LLC-50.1. The report contains mainly some of the same information as the articles of organization.
Small businesses are defined as firms employing fewer than 500 employees.
Illinois Corporation Incorporation: $150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online.
The credit is limited to $500or 50% of your startup costs. You can claim it for the first three years of your plan. To be eligible, your business must: Have fewer than 100 employees who receive at least $5,000 in compensation.
