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Form an Illinois Corporation: Name Your Corporation. Designate a Registered Agent. Submit Articles of Incorporation. Get an EIN. Write Corporate Bylaws. Hold an Organizational Meeting. Open a Corporate Bank Account. File State Reports & Taxes.
All street peddlers must obtain an Illinois Department of Revenue Account ID (i.e. Illinois Business Tax) Number; register at tax.illinois.gov. Street Peddlers must be at least 16 years of age. Street Performers must provide proof that the applicant is at least 18 years of age.
"Small business" means any for profit entity, independently owned and operated, that grosses less than $4,000,000 per year or that has 50 or fewer full-time employees. For the purposes of this Act, a "small business" has its principal office in Illinois.
REG-1 - Illinois Business Registration Application.
Home based businesses are licensed under the Regulated Business License for Home Occupation (Municipal Code 4-6-270) and applies to individuals who operate a business in their primary place of residence.
Every business operating in the City of Chicago requires a City of Chicago business license. A Department of Business Affairs and Consumer Protection (BACP) business consultant is available to help you obtain a City license.
Though Illinois does not require a statewide business license, your business is required to obtain a Certificate of Registration or License, sometimes referred to as a seller's permit, if it intends to sell or lease taxable goods or services within the state.
Your main cost when starting an LLC in Illinois will be the state's LLC registration fee, which is $150. On top of that, you'll need to shell out $75 each year to file your Illinois annual report. You'll also have additional expenses to think about, like hiring a registered agent and purchasing business insurance.