All incorporated companies in Illinois are subjected to 9.5% of the corporate tax rate

The proposed names of LLCs must end with “Limited Liability Company,” or the abbreviated words; “LLC” or “L.L.C,”

The state of Illinois does not approve the use of dashes in the company names.

Words like “Bank” or “Trust” and variations thereof require approval from the Department of Banks and Trusts.

The proposed must be distinctive from any domestic or foreign LLCs’ names or names with the exclusive right that is reserved or registered.

Words like “Bank” or “Trust” and variations thereof require approval from the Department of Banks and Trusts.

The proposed must be distinctive from any domestic or foreign corporations’ names or names with the exclusive right that is reserved or registered.

The proposed names of corporations must end with “Corporation,” “Company,” “Incorporated,” “Limited” or an abbreviation thereof

The state does not approve the use of dashes in the company name

The proposed company name must not contain any word or phrase that implies or indicates any business of insurance, assurance, indemnity, acceptance of saving deposit, banking, or corporate fiduciary.

LLCs require to have at least one or more manager(s) and member(s)

The names and addresses of the managers & members are required to be listed in the Articles of Organizations

Illinois does not have the age & address requirements for managers/members

Corporations require to have at least one or more director(s) and shareholder(s)

The names and addresses of the managers & members are required to be listed in the Articles of Incorporation

Director(s) must be at least 18 years old and have no residency requirements

Annual Report: LLCs are required to file the Annual Report due before the first day of the entities’ anniversary month.

LLCs in Illinois require to have the state tax identification number

Registered Agent: The registered agent’s information of that particular agent’s name and physical address must be listed and available during normal business hours to receive government notices.

Employer Identification Number (EIN): If the company has employees, EIN is required. Moreover, it is necessary to open a business bank account in the US.

Annual Report: Corporations are required to file the Annual Report due before the first day of the entities’ anniversary month.

Corporations in Illinois require to have the state tax identification number

Stock: In the Articles of Incorporation must list the authorized shares

Registered Agent: The registered agent’s information of that particular agent’s name and physical address must be listed and available during normal business hours to receive government notices.

Employer Identification Number (EIN): If the company has employees, EIN is required. Moreover, it is necessary to open a business bank account in the US.