How Much Does it Cost to Form an LLC in Illinois

The cost to start an LLC in Illinois is $150. When filing the LLC’s Articles of Organization, this fee is paid to the Illinois Secretary of State.

Illinois LLC Online Filing Fee – $150

$150 is required to form an LLC in Illinois. Although many states require you to file a separate statement for appointing registered agents, Illinois will allow you to do this in the LLC’s articles.

The Basic Costs of Starting an Illinois LLC

There’s more to starting a company than simply filing a legal document. There are many things to take into consideration, and they all cost money. Although you may want to save money, the following section will highlight the costs that you should consider if you want the best start possible.

State Fee is for the LLC’s Articles of Organization

This is the most important legal document for your LLC. Articles are an LLC’s birth certificate. The company isn’t legal if it doesn’t have articles. After the articles of organization have been filed, the company can conduct business, pay taxes and take any other legal action. You must ensure that your LLC’s articles have been completed correctly and first.

It’s not as difficult as it sounds. You can create the Illinois LLC articles from scratch, but it’s not necessary. Illinois offers a basic fill-in-the-blank (LLC-5.5), that provides all the information you need. Use the online system to file your articles with the Secretary of State.

An attorney may be required to draft the Illinois LLC articles of organization if you have a complex business or ownership structure. The form below should work in most cases.

Illinois LLCs – Additional Costs to Be Considered

Your LLC may only need $150 to start up. However, this doesn’t mean you should not plan to spend more. To give your LLC the best start possible, there are other expenses you should consider.

Expedited Filing Services – $100 Articles; other documents may vary

The state of Illinois has a different processing time depending on whether documents are filed online or by mail. If you file documents online, the processing time is approximately 5-10 business days. You will need to allow time for documents to travel through the postal system if you file online.

You don’t want the state to delay processing your legal paper if you have reached this point. You will need expedited service in this case. The type of document you are filing will determine the additional fee. This adds $100 to the filing fee for your articles, totaling $250.

Check the current LLC fee schedule to see how much it costs to speed up filings of other types. All expedited service requests must still be submitted to the Secretary of State.

Requests for expedited service must be made in person, not by mail in the Department’s Springfield or Chicago office. N/A means this service is not available as an expedited service.

Please note that the expedited fee amounts are in addition to the applicable filing fees, franchise taxes, penalties and interest.

Cash is not accepted for filings with the Secretary of State’s office. Make checks payable to the Illinois Secretary of State. For more information, please contact the Department of Business Services, Limited Liability Division at 217-524-8008 ext. 7736 or complete the Business Services contact form.

Business License – $125 per year

An Illinois LLC may need a license depending on the business type and where it is situated. The cost of Chicago business licenses can vary depending on your business type. For exact requirements, contact your county or city governments.

Registered Agent Fee – About $100 per Year

You will need to name your LLC’s resident agent when you file your articles. This is so the state and the general public can communicate with your LLC at a timely pace. This information is necessary if anyone decides to sue you LLC. This may not sound like fun but it is crucial to your business’s success that you are aware of when this happens.

You don’t have to pay any additional fees to the state for naming an agent because your agent’s information is included in your articles. You should still consider hiring a company as your agent.

Many owners feel tempted to act as agents for their LLCs. This is a bad idea. This involves making your address available to anyone who might want to sue you.

Hiring an Illinois registered agent for your LLC is a cost-effective and easier option. These registered agent companies typically charge $100 per annum and will take care of all your needs. It is a good investment.

LLC Operating Agreement – Prices Vary

The operating agreement defines the rules for your LLC. It outlines the rules for your LLC, including who should be in charge, the dates and times of meetings, the entry and exit procedures, and any other matters you may need to discuss.

Although Illinois doesn’t require your LLC to have an Operating Agreement, we recommend it. You have less control over what happens when something happens unexpectedly without an operating agreement.

You don’t need to file an LLC operating agreement with the state if you decide to do so. It is possible to write it yourself but we do not recommend it unless you are a professional lawyer or have a clear idea of what it should look like.

A lawyer will likely charge by the hour for drafting an Illinois LLC operating agreement. This agreement is likely to be good, but it could cost you more than a few hundred dollars and possibly well over a thousand dollars in Chicago. An LLC formation service can help you draft a great agreement for as low as $39.

DBA Fee: $30 per Year

Many LLC owners discover that their LLC’s legal name does not suit their needs after they have filed their articles. It might be difficult to remember, sound too similar to another company, or reflect a change of management or ownership.

These are all common issues. You can apply for your LLC’s assumed name or DBA (“doing business under”) name.

Section 1-20 (Illinois Limited Liability Company Act) outlines the rules for the use of a DBA within Illinois. To apply for a DBA, you must provide the following information to the Secretary of the State:

• Your LLC’s legal name
• The state in which your LLC was established (in this case, Illinois).
• An assertion that your LLC would like to use an assumed name
• Your LLC’s assumed name (DBA).

This form is also available from the state: Application to Adopt Change or Cancel

Renew an Assumed name (LLC-1.20

It is not easy to calculate the cost of a DBA. They must be paid up to the next year divided by five ( , 2025, or 2030), after which they will need renewal. It costs $30 per year. You will need to pay $50 extra if you wish to expedite the filing.

Renewing a DBA can be done by stating so in the annual report of your LLC and paying the renewal fees.

Name Reservation Fee $25

You may have the perfect plan and the perfect name for your business but aren’t ready to launch. You can file an Application To Reserve a Name with Secretary of State to ensure that you have the right name. This costs $25. This document can be expedited for an additional $50

Domain Names – About $20 per Year

Small businesses are required to be online in this digital age. The first step to create a great website is registering your domain name. Although it was expensive in the past, this is now affordable.