How To Register Small Business In Illinois

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.

How to register small business in illinois. 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. You can set up an llc in illinois for 500. The quickest way to register is online at mytaxillinois. For most small businesses registering an llc is a great option. Your next major task is going to be registering your business with the state of illinois.

Processing time for mailed applications is six to eight weeks. Select a business entity. This may increase during peak periods. Sole proprietorships and general partnerships must register assumed business names with the county clerk in each county where they do business. Apply for business licenses permits.

Before you can do that though you have to figure out what type of business structure you want to form. To register your business you must electronically register through mytax illinois approximately one to two days to process. Open a business bank account. A limited liability company llc s corporation s corp c corporation c corp or sole proprietorship. Choose a business idea.

Online applications have a two day processing time. Register your illinois business. In illinois most business are required to be registered and or licensed by the idor. File the correct paperwork with the illinois division of corporations called articles of incorporation. If you plan to hire employees buy or sell products wholesale or retail or manufacture goods you must register with the idor.

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. To obtain information contact. Illinois department of revenue. In comparison to other business entities llcs are easier to set up and manage and they have favorable tax treatment. Starting a business in illinois simple step by step guide.