Illinois LLC Agreement - Open Source
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How to fill out LLC Agreement - Open Source?
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FAQ
Filling out the Form LLC-5.5, which is the articles of organization, is perhaps the most important step of creating an LLC. You must file articles of organization with the Illinois Secretary of State to keep documentation of your company and record the essential information about your new business entity.
The state of Illinois doesn't require LLCs to have an LLC operating agreement, but it's highly recommended. The operating agreement is a legally binding document that breaks down the management structure of the LLC and each owner's duties and profit share.
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.
Follow this 5-step guide. Step 1: Choose a Name for Your Illinois LLC. ... Step 2: Choose Your Registered Agent. ... Step 3: File Your Articles of Organization. ... Step 4: Draft an LLC Operating Agreement. ... Step 5: Obtain Your Employer Identification Number (EIN)
If you have a street address located in Illinois (such as a home or office), and are available during regular business hours, you can list yourself as the Registered Agent. If you don't have a street address in Illinois, you can use a friend or family member's address and they can be your Illinois Registered Agent.
An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.
To form an LLC in Illinois, you must file Form LLC-5.5, or the Articles of Organization, with the Secretary of State's Department of Business Services. You could choose to make the formation effective on the filing date or at a later time, as long as it does not exceed 60 days. The filing fee is $150.
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.