Each state has different requirements for forming a corporation. Whether you are starting a business or
incorporating a business
already in existence, you’ll want to understand state requirements for Illinois incorporation.
Cost to incorporate in Illinois
At BizFilings, we clearly outline our fees and the state fees to form an Illinois corporation. View our pricing to incorporate as a
to plainly see:
BizFilings’ package prices.
BizFilings offers three incorporation service packages from which you can choose.
State fee for standard turn-around.
Our pricing clearly shows the state fee to incorporate in Illinois with standard turn-around.
You will see the BizFilings and state fee, if any, for expedited turn-around.
Our pricing also clearly displays the BizFilings and state fee, if any, for issuing a Certified Copy of the Articles of Incorporation.
The name must contain the word "Corporation," "Company," "Incorporated," "Limited" or an abbreviation thereof. Use of dashes in a name often is not approved by the state. The name must not contain any word or phrase indicating or implying it is organized to conduct the business of insurance, assurance, indemnity, acceptance of savings deposit, banking or corporate fiduciary. Words such as "Bank," "Trust" or variations thereof require approval from the Department of Banks and Trusts. The name must be distinguishable from that of any domestic or foreign corporation authorized to transact business or a name to which exclusive right is, at the time, reserved or registered.
The following are Illinois’s requirements for directors of corporations:
Corporations must have one or more directors.
Illinois does not have a provision specifying where directors must reside.
Directors must be at least 18 years old.
Inclusion in the Articles of Incorporation.
Director names and addresses are required to be listed in the Articles of Incorporation.
Requirements for the Articles of Incorporation
The document required to form a corporation in Illinois is called the Articles of Incorporation. The information required in the formation document varies by state. The requirements in Illinois include:
Officer names and addresses are not required to be listed in the Articles of Incorporation.
Authorized shares must be listed in the Articles of Incorporation. An increase in the number of shares can affect initial filing fees.
Corporations must list the name and address of a
with a physical address (no post office boxes) in Illinois. The registered agent must be available during normal business hours to accept important legal and tax documents for the business.
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Illinois corporations.
Illinois corporate records
Illinois corporations must keep complete corporate records at the principal place of business.
Illinois corporate taxes and fees
The following are taxation requirements and ongoing fees for Illinois corporations:
Annual report and franchise tax.
Illinois requires corporations to file an annual report and pay a franchise tax each year within the 60-day period immediately preceding the first day of the anniversary month of the incorporation date. The fee is $75 plus an amount that is calculated based on paid-in capital.