Illinois Small Business Startup Package for LLC

State:
Multi-State
Control #:
US-P108-PKG
Format:
Word; 
Rich Text; 
PDF
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Description

The package is designed to assist a limited liability corporation (LLC) in running the corporation by providing a large selection of necessary and commonly used forms at a greatly reduced price. The forms provided are valuable tools to ensure the smooth operation of typical business affairs. Purchase of this package is a savings of over 75% off the price compared to purchase of the forms individually!


The documents in this package include the following:


Profit and Loss Statement - This is a general Statement of Profits and Losses for a company. It lists in detail, all profits, or gains, as well as all losses the business may have suffered. This form can be used by any type of company, whether a corporation or a sole proprietor.



General Trademark License Agreement - This form is a Trademark License Agreement. The licensor is the owner of certain trademarks and the licensee desires to use the trademark on the terms and conditions set forth in the agreement. The licensor agrees to grant to the licensee an exclusive worldwide right and license to use the trademark in connection with the licensee's product.



Assignment of Member Interest in Limited Liability Company - This form may be used to transfer the interest of a member in a LLC to another party. An assignment of this interest does not dissolve the company or entitle the assignee to become or to exercise any rights of a member. An assignment entitles the assignee to receive, to the extent assigned, the distributions of cash and other property and the allocations of profits, losses, income, gains, deductions, credits, or similar items to which the assignee's assignor would have been entitled. The Assignor ceases to be a member upon assignment of all the assignor's membership interest.



Resolution of Meeting of LLC Members to Sell or Transfer Stock - This form is a resolution of meeting of LLC members to sell or transfer stock.



Notice of Meeting of LLC Members - General Purpose - This form is a Notice of Meeting of LLC members for the purpose as stated in the form.



Limited Liability Company LLC Operating Agreement - This form is a Limited Liability Company Agreement. The parties have agreed to form a limited liability company upon the terms listed in the agreement. However, the form also lists the actions or events which would result in the termination of membership in the limited liability company.



Resolution of Meeting of LLC Members to Authorize Contract - This form is a resolution from a meeting of LLC members to authorize a contact. Provisions are included to describe the purpose of the contract.


Job Invoice-Short - This form is a job invoice form. It contains provisions for a job description, starting date, completion date, date and hours worked, list of materials and costs, and an itemized statement of total due for materials, labor, and other.



Employment Agreement - General - This form is used when an Employee agrees to be employed by Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of Employer services as may be reasonably requested from time to time by the Employer. The agreement contains provisions for compensation, confidentiality, non-competition and breach of contract.



Employment Agreement with Covenant Not to Compete - This form is used when an Employee agrees to be employed by an Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of the Employer as may be reasonably requested from time to time by the Employer. This agreement contains a covenant not to compete clause.



Self-Employed Independent Contractor Employment Agreement - General - A company agrees to hire a contractor to perform work on the terms and conditions set forth in the agreement. The contractor agrees that all financial and accounting records will remain the confidential property of the company. The form also provides that the company will reimburse the contractor for all reasonable and necessary expenses incurred by the contractor with the performance of his/her duties.



Secrecy, Nondisclosure and Confidentiality Agreement by Employee or Consultant to Owner - The first party has possession of proprietary information and know-how relating to an idea, product or service, and wishes to employ the second party but desires that the second party agree not to disclose information learned by second party during such employment. Both parties agree that all information, ideas, products or services, processes, written material, samples, models and all other information of any type, whether written or oral, submitted to the second party by the first party is now, and will remain, the property of first party.



Drug Testing Policy Disclosure and Consent Form - This form explains the drug testing policies of a particular company and includes a consent form.



Employee Permission to Do a Background Check - This is a form signed by an employee or prospective employee granting an employer permission to do a background check.



Employment Position Announcement This form is a business type form that is formatted to allow you to complete the form using Adobe Acrobat or Word. This form allows an employer to announce that applicants for a position with the company are being sought.


Consultant Agreement - This form is a Consultant Agreement for use with consultants exposed to commercial trade secrets or other confidential information as part of their work with a business.


Internet Use Policy - This agreement is to be signed by an employee upon the request of a company concerning the proper uses of internet access. The agreement defines acceptable uses and states that the inappropriate use of the Internet may lead to denial of access or other action by the company.


Also included in this package are: Employment Termination Agreement, Cash Disbursements and Receipts, Check Request form, Daily Accounts Receivable, Yearly Expenses by Quarter, Petty Cash Form and Purchasing Cost Estimate

The Illinois Small Business Startup Package for LLC is a comprehensive set of resources and services designed to assist entrepreneurs in setting up and establishing their limited liability companies (LCS) in the state of Illinois. This package is specifically tailored for small businesses and provides all the necessary tools, guidance, and documentation to get an LLC up and running efficiently. The Illinois Small Business Startup Package for LLC includes a range of essential services and features that are crucial for any new LLC owner. These packages typically offer assistance in matters such as entity name availability checks, preparation and filing of necessary legal documents, obtaining an Employer Identification Number (EIN) from the IRS, and drafting of an operating agreement, among other provisions. One type of Illinois Small Business Startup Package for LLC is the Basic Starter Package. This package is designed for entrepreneurs who are just starting their LLC and need the fundamental resources to establish a legal entity. It often includes assistance in name availability checks, preparation, and filing of Articles of Organization with the Illinois Secretary of State, and obtaining an EIN. The Basic Starter Package is ideal for individuals who want a streamlined and hassle-free process without additional features. Another type of Illinois Small Business Startup Package for LLC is the Comprehensive Package. This package provides a more extensive range of services and features to accommodate the needs of small business owners looking for additional support. It typically includes everything offered in the Basic Starter Package, along with extras such as a custom operating agreement tailored to the specific requirements of the LLC, assistance in obtaining required state and local licenses and permits, and compliance with ongoing filing requirements. The Comprehensive Package caters to individuals seeking a more comprehensive solution that covers various aspects of LLC formation and establishes a strong foundation for their businesses. Apart from the Basic Starter and Comprehensive Packages, some providers may offer additional customizable packages or options based on specific business needs or industry requirements. These may include services such as trademark registrations, obtaining professional licenses, or registered agent services. Overall, the Illinois Small Business Startup Package for LLC streamlines the often complex and time-consuming process of setting up an LLC, allowing entrepreneurs to focus on building their business. It provides entrepreneurs with essential services, guidance, and documentation necessary to establish a secure and compliant LLC in the state of Illinois. Whether choosing the Basic Starter Package or the more extensive Comprehensive Package, obtaining a startup package is a prudent step for any small business owner looking to ensure a smooth and legal entry into the business world.

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FAQ

"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.

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.

Distinguishable: The Illinois Limited Liability Company Act provides that you may choose any name so long as it is distinguishable from: (1) any domestic or foreign limited liability company name or assumed LLC name; (2) any domes- tic or foreign corporate name or assumed corporate name; or (3) a name that is currently ...

Each member of a limited liability company needs to pay 12.4% of the LLC's profits for Self-Employment taxes, in addition to 2.9% for Medicare. Furthermore, they must pay the flat rate Illinois State Income Tax, 4.95%. See the Illinois Department of Revenue for more information on the Illinois LLC tax rate.

Starting an LLC in Illinois will include the following steps: #1: Choose a Name for Your Illinois LLC. #2: Choose Your Registered Agent. #3: File Your Articles of Organization. #4: Draft an LLC Operating Agreement. #5: Obtain Your Employer Identification Number (EIN)

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.

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.

More info

This guide will inform you of various legal requirements and direct you to additional resources. If you have any questions contact the First Stop Business ... Nov 1, 2023 — LLCs electing S-Corp treatment will need to first file a Form 2553 which will tell the IRS that the LLC wants to be taxed as a small business ...Jul 4, 2022 — 1. Choose an idea for your LLC · 2. Name your Illinois LLC · 3. Create a business plan · 4. Get a federal employer identification number (EIN) · 5. Apr 17, 2023 — Once you set up your LLC, you can then complete Form LLC-50.25 to receive a Certificate of Good Standing. This document verifies that your ... 1. Name your Illinois LLC · 2. Choose your registered agent · 3. Prepare and file Articles of Organization · 4. Receive a certificate from the state · 5. Create an ... Jul 28, 2023 — You can apply for an Illinois LLC online by registering the Articles of Organization with the Secretary of State. The cost to create an LLC ... Oct 28, 2020 — Step 1: Choose a name for your Illinois LLC · Step 2: Appoint an Illinois registered agent · Step 3: Check if you need an Illinois business ... File an Annual Report File an annual report for a Corporation, Not-for-Profit, or Limited Liability Company online. Incorporate a business or terminate an LLC ... This form is a handy checklist for the owner of a new business to use as a helpful tool in forming a new business. The form covers the stages of background ... Learn how to start an LLC in Illinois in 6 easy steps. Get all the information you need to form a limited liability company in Illinois online today!

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Illinois Small Business Startup Package for LLC