How To Register Small Business In Illinois

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How to register small business in illinois. If you plan to hire employees buy or sell products wholesale or retail or manufacture goods you must register with the idor. In illinois most business are required to be registered and or licensed by the idor. For most small businesses registering an llc is a great option. You can set up an llc in illinois for 500. In comparison to other business entities llcs are easier to set up and manage and they have favorable tax treatment.

File the correct paperwork with the illinois division of corporations called articles of incorporation. Processing time for mailed applications is six to eight weeks. Starting a business in illinois simple step by step guide. Your next major task is going to be registering your business with the state of illinois. To register your business you must electronically register through mytax illinois approximately one to two days to process.

Register your illinois business. Sole proprietorships and general partnerships must register assumed business names with the county clerk in each county where they do business. Register a business name. Choose a business idea. Illinois department of revenue.

Select a business entity. Apply for business licenses permits. 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. 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. Before you can do that though you have to figure out what type of business structure you want to form.

A limited liability company llc s corporation s corp c corporation c corp or sole proprietorship. 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. Open a business bank account. The quickest way to register is online at mytaxillinois. To obtain information contact.