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1. • Protects your personal assets better

     • Starting an LLC in Illinois is a good idea. Why? Because this business structure protects your personal assets better. If your business is sued, it can only be held liable for the assets of the LLC. Not only that, but LLC is also a better structure for tax reporting. Plus, it’s a future-proof move towards business scalability.
     www.simplifyllc.com › llc-formation › illinois

     How to Start an LLC in Illinois - SimplifyLLC

2. People also ask

   Should you start a limited liability company in Illinois?

   • Starting a limited liability company (LLC) in Illinois can be a good idea for small business owners for a number of reasons. All LLCs protect owners and their personal assets from lawsuits and debts incurred by the business. As a business entity, LLCs are required to comply with fewer legal regulations than corporations.

   Starting an Illinois LLC in 2022? Here's How | Nav

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   Is an Illinois LLC a good idea?

   • An Illinois LLC is considered advantageous because it offers the same limited liability as a corporation, but with less formality in its creation and operation. However, as will be seen, there is a bit more to it than that. Flexible tax treatment. For federal tax purposes, an LLC can choose how it will be taxed.

   Pros and cons of running an Illinois LLC | Legalzoom

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   Do I need an LLC form in Illinois?

   • Most states require this, including Illinois—but the good news is, we can do it for you. This document contains basic details about your LLC including its name, address, and reason for forming. When we file this for you, it's typically sent to the Illinois Secretary of State.

   How to Start an LLC in Illinois | Illinois LLC Requirements - LegalZoom

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   Is Illinois a good place to start an LLC?

   • With metropolises like Chicago and great connections to both coasts, Illinois can be a strategic spot for business owners to set up an LLC. At U.S. News & World Report, we take an unbiased approach to our ratings. We adhere to strict editorial guidelines, maintain a separate business team, and provide transparency on our methodology.

   How to Start an LLC in Illinois (2023) | U.S. News

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3. www.legalzoom.com › articles › pros-and-cons-ofPros and cons of running an Illinois LLC | LegalZoom

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   Mar 18, 2024 · An Illinois LLC is considered advantageous because it offers the same limited liability as a corporation, but with less formality in its creation and operation. However, as will be seen, there is a bit more to it than that. The pros of an Illinois LLC. Flexible tax treatment. For federal tax purposes, an LLC can choose how it will be taxed.

4. www.forbes.com › how-to-set-up-llc-in-illinoisHow To Start An LLC In Illinois (2024 Guide) – Forbes Advisor

   www.forbes.com › how-to-set-up-llc-in-illinois

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   • Step 1. Select Your LLC Name
   • Step 2. Hire A Registered Agent
   • Step 3. Submit Illinois Articles of Organization

   Illinois requires your LLC name to be distinguishable from every other LLC or corporation name registered or reserved in the state. To avoid having your formation paperwork rejected, be sure to research business name availability using the Department of Business Services search engine. It is also possible to reach out by phone regarding LLC name av...

   See full list on forbes.com

   Illinois requires you to appoint a registered agent to receive legal documents on behalf of your business. An agent can be an Illinois resident or a company authorized to do business in Illinois. The agent must have a street address in the state, known as the registered office. You or one of your employees can act as a registered agent as long as y...

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   To form an LLC in Illinois, you must file Form LLC-5.5, or the Articles of Organization, with the Secretary of State’s Department of Business Services. You could choose to make the formation effective on the filing date or at a later time, as long as it does not exceed 60 days. You can complete the entire process online. Otherwise, submit all docum...

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5. www.nerdwallet.com › small-business › llc-illinoisForming an LLC in Illinois: Step-by-Step Guide - NerdWallet

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   • Choose a name for your Illinois LLC. When forming an LLC in Illinois, the first step is to choose a business name. Under Illinois law, the name of a new LLC must be different from the names of other LLCs or corporations that have registered with the Secretary of State.
   • Appoint an Illinois registered agent. Every LLC that’s authorized to operate in Illinois must designate a registered agent. A registered agent is an individual or company that accepts legal documents on your business’s behalf.
   • Check if you need an Illinois business license. The state of Illinois, as well as local governments in Illinois, might require you to obtain a business license because you start operating your company.
   • File articles of organization. The most important step for forming an LLC in Illinois is to file articles of organization with the Illinois Secretary of State.

6. www.nav.com › start-an-llc-in-illinoisStarting an Illinois LLC in 2022? Here's How | Nav

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   • Name your LLC. Whether you’re in Chicago or Champaign, your business must have a unique, recognizable name different from other companies who have filed with the Illinois Secretary of State.
   • Get a registered agent. In the state of Illinois, you must have a registered agent in the state to accept service of process (lawsuit papers) on your behalf.
   • File “Articles of Organization” Your business’s articles of organization are what make you an LLC in the eyes of the state. To file articles of organization in Illinois, you’ll file a Form LLC-5.5 with the Illinois Secretary of State Department of Business in order to get your certificate of incorporation.
   • Create an operating agreement. While Illinois doesn’t legally require an LLC operating agreement for your business to become an LLC, we highly recommend that you create one.

7. Videos

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8. www.usnews.com › how-to-start-llc-illinoisHow to Start an LLC in Illinois (2023) | U.S. News

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   Jan 10, 2024 · |. Updated: Jan. 10, 2024. |. Save. Illinois may be nicknamed the Prairie State, but that doesn't mean it's just wide open spaces. With metropolises like Chicago and great connections to both...

9. llcpedia.com › illinois-llcStarting an Illinois LLC: A Comprehensive Guide for 2024

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   1 Choose a Name and Check Availability. 2 File Articles of Organization with the State. 3 Obtain Necessary Licenses and Permits. 3.1 Research Industry Requirements. 3.2 Apply for State and Local Licenses. 4 Draft an Operating Agreement. 4.1 Define Member Roles and Responsibilities. 4.2 Establish Voting Procedures.