How long does it take to get an LLC in Illinois?

The time it takes to form an LLC in Illinois can vary depending on the method you use to file and whether all your paperwork is in order. Here’s what to expect: Online Filing: This is the quickest method. If you file your Articles of Organization online through the Illinois Secretary of State's website, the processing time can be as short as 24 to 48 hours. This method is efficient and preferred for its speed. Mail Filing: If you opt to file by mail, the processing time is longer. Typically, it can take about 10 to 15 business days from the date the office receives your documents. This time frame can vary depending on the volume of filings being processed. Expedited Service: Illinois also offers expedited services for an additional fee. If you need your LLC to be processed quicker than the standard times, you might consider paying for this service. Expedited filings can be processed within the same day or the following day, depending on the time the documents are received and the specific expedited service chosen. To ensure a smooth process, make sure your Articles of Organization and any other required forms are filled out accurately and completely. This will help avoid any delays due to corrections or additional information requests.

LLC setup services in Mokena, IL

New Business Formation

New business formation is something many individuals work toward their whole lives. With so much at stake, a new business owner should seek the services of an accountant who understands the intricacies of business development. Our firm provides services that not only take into account all aspects of the initial formation, but the specifics of your daily operations as well.

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Why Incorporate?

Unlock Tax Savings: The Power of Incorporation

Experts in law and taxation are in consensus: businesses operating without incorporation may be missing out on substantial tax savings and deductions. Incorporation isn't just a bureaucratic step; it's a strategic financial decision that can lead to thousands of dollars in tax benefits. By choosing to incorporate, you position your business to take full advantage of these financial opportunities, enhancing your bottom line and freeing up capital for growth.

Safeguard Your Personal Assets

Protect What's Yours with Legal Separation When your business is not a separate legal entity, everything you personally own—your home, cars, boats, and even your savings and investments—is exposed to potential legal actions against your business. This means that personal assets could be seized to cover business debts, lawsuits, or other liabilities. Incorporation creates a legal firewall, ensuring that your personal wealth is shielded from your business's financial and legal challenges. With this protective barrier, you can rest assured that your personal assets remain untouched, no matter what happens in your business.

Enhance Your Business Focus

Achieve Peace of Mind and Business Growth The decision to form a separate legal entity through incorporation brings more than just financial benefits and asset protection; it also provides entrepreneurs with peace of mind. Knowing that your personal assets are safe and that you're optimizing your tax position allows you to concentrate fully on what you do best: growing your business. This mental freedom is invaluable, enabling you to innovate, expand, and steer your business toward even greater success with confidence.

New Business Formation Applications

Only 10% of business applications are successful

The Census Bureau reports over 400,000 monthly new business formation applications
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Business Formation Statistics

The Census Bureau is projecting that 28,492 new business startups with payroll tax liabilities will form within 4 quarters of application from all the business applications filed during March 2024.

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Form Number	Form Name	Fee
LLC 45.5	Application for Admission to Transact Business	$150
LLC 45.5(S)	Application for Admission to Transact Business (Series)	$400
LLC 45.20	Application for Registration of Name	$50
LLC 45.20	Renewal of a Registered Name	$50

To establish an LLC in Illinois, submit Form LLC-5.5, the Articles of Organization, to the Secretary of State’s Department of Business Services. For flawless filing and to ensure your LLC's effective date aligns with your strategic goals—whether immediately or within the next 60 days—consider utilizing the expertise of a professional accountant here at Wozny Tax Company. Secure your business's future today.

Failing to file an annual report for an LLC in Illinois can have several consequences, which can impact the status and operations of the business:

Late Fees: Illinois imposes a late fee if the annual report is not filed by the due date. The current late fee is $100, which is added to the regular filing fee.
Loss of Good Standing: If the annual report is not filed, the LLC will lose its good standing with the Illinois Secretary of State. This status is important for various business activities, including securing financing, entering into contracts, and renewing licenses.
Involuntary Dissolution: If the report remains unfiled for an extended period, the state may initiate involuntary dissolution of the LLC. This means the state legally dissolves the LLC, which loses its rights to operate as a business entity in Illinois.
Reinstatement Costs: If your LLC is dissolved and you wish to reinstate it, there are additional costs and paperwork involved. You would need to file all overdue reports, pay all related fees and penalties, and potentially submit a reinstatement application.

To avoid these issues, it's advisable to file the annual report on time each year. If you're behind, consider catching up as soon as possible to restore your LLC's good standing and continue operating without legal impediments.

The time it takes to form an LLC in Illinois can vary depending on the method you use to file and whether all your paperwork is in order. Here’s what to expect:

Online Filing: This is the quickest method. If you file your Articles of Organization online through the Illinois Secretary of State's website, the processing time can be as short as 24 to 48 hours. This method is efficient and preferred for its speed.
Mail Filing: If you opt to file by mail, the processing time is longer. Typically, it can take about 10 to 15 business days from the date the office receives your documents. This time frame can vary depending on the volume of filings being processed.
Expedited Service: Illinois also offers expedited services for an additional fee. If you need your LLC to be processed quicker than the standard times, you might consider paying for this service. Expedited filings can be processed within the same day or the following day, depending on the time the documents are received and the specific expedited service chosen.

To ensure a smooth process, make sure your Articles of Organization and any other required forms are filled out accurately and completely. This will help avoid any delays due to corrections or additional information requests.

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