How To Register Small Business In Illinois

In illinois businesses structured as corporations llcs and limited partnerships that intend to operate under an assumed business name must register the name with the sos.

How to register small business in illinois. Apply for business licenses permits. For most small businesses registering an llc is a great option. The division of corporations could take anywhere from 2 3 business days for e filing to 3 to 5 days for mail filings to process the paperwork. To obtain information contact. Sole proprietorships and general partnerships must register assumed business names with the county clerk in each county where they do business.

Choose a business idea. You can set up an llc in illinois for 500. To register your business you must electronically register through mytax illinois approximately one to two days to process. Register a business name. A limited liability company llc s corporation s corp c corporation c corp or sole proprietorship.

Your next major task is going to be registering your business with the state of illinois. Online applications have a two day processing time. 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. Write a business plan. File the correct paperwork with the illinois division of corporations called articles of incorporation.

Processing time for mailed applications is six to eight weeks. If you plan to hire employees buy or sell products wholesale or retail or manufacture goods you must register with the idor. This may increase during peak periods. Starting a business in illinois simple step by step guide. If you prefer to register by mail download the illinois business registration application form reg 1 for completion and submission to the illinois department of revenue.

Before you can do that though you have to figure out what type of business structure you want to form. Illinois department of revenue. Open a business bank account. In illinois most business are required to be registered and or licensed by the idor. In comparison to other business entities llcs are easier to set up and manage and they have favorable tax treatment.