The cost for registering an Illinois foreign LLC is $150. You can register a foreign LLC in Illinois by filing an Application for Admission to Transact Business (Form LLC-45.5).
Does a foreign LLC need to register in Illinois?
Transacting Business in Illinois
According to Illinois’s LLC Act, you are required to register your foreign company with the state of Illinois if you are “transacting business” in Illinois.
How do I register a foreign LLC in Illinois?
A foreign LLC registration begins by filing an Application for Admission to Transact Business. The form is submitted in duplicate to the Secretary of State Department of Business Services. It must be accompanied by a Certificate of Good Standing or Existence authenticated in the last 60 days. Pay the Filing Fee.
How much does it cost to register an LLC in Illinois?
How much does it cost to form an LLC in Illinois? The Illinois Secretary of State charges $150 to file the Articles of Organization. You can reserve your LLC name with the Illinois Secretary of State for $25.
How much does it cost to register a business in the state of Illinois?
Incorporation: $150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online. Franchise tax is calculated as $1.50 per $1,000 on the paid-in capital represented in this state.
Can a foreign LLC own property in Illinois?
State permission is not required for foreign investors to acquire or own real property in Illinois. While foreign companies “transacting business” in Illinois must get authority from the Illinois Secretary of State, mere ownership of real estate does not constitute transacting business (see Question 1).
What does foreign LLC mean?
It is a classification used for companies that do business in states other than the home state where the LLC was formed. States require companies to register as foreign LLCs to ensure they meet regulatory and tax requirements, and the term “foreign” simply means the company was set up in a different state.
How do I apply for a foreign qualification?
If you need to file a foreign qualification, you will have to register in the state(s) by submitting a Certificate of Authority application (sometimes called “Statement & Designation by a Foreign Corporation”) with the particular state’s Secretary of State office.
Can I be my own registered agent in Illinois?
Can I Be My Own Registered Agent In Illinois? Yes, any owner or employee of a business can be its registered agent in Illinois as long as they are over the age of 18, and have a street address in Illinois.
What is a foreign BCA in Illinois?
A corporation organized in another state who is requesting the authority to transact business in Illinois by filing the BCA 13.15 form is considered a foreign corporation in the State of Illinois.
How much is an EIN number in Illinois?
Applying for an EIN for your LLC is free ($0)
Applying for an EIN for your Illinois LLC is completely free. The IRS doesn’t charge anything for applying for an EIN.
Can you start an LLC in another state?
Yes. You can register your LLC in a different state if you comply with the laws and regulations of both states.
What is the cheapest state to form an LLC?
Cheapest States to Form an LLC
- Hawaii — Filing fee: $50. …
- Michigan — Filing fee: $50. …
- Iowa — Filing fee: $50. …
- Montana — Filing fee: $70. …
- Utah — Filing fee: $70. Renewal fee: $20. …
- California — Filing fee: $70. Renewal fee: $800. …
- Delaware — Filing fee: $90. Renewal fee: $300. …
- Indiana — Filing fee: $100. Renewal fee: $50.
How long does it take for an LLC to be approved in Illinois?
It normally takes 3-4 weeks for the LLC paperwork to be approved in Illinois. Expedited processing (typically 1 business day) is also available for an additional fee.
How do I register my business in Illinois for free?
- 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.
How do I establish an LLC?
Steps to Form an LLC
- Choose a name for your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on member vs. manager management.
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
- Out of state LLC registration.