A. File Artcles of incorporation for Illinois Corporation with the Secretary of State
After choosing which entity is right for you, your next step is to go to the Illinois Secretary of State's website and download the appropriate incorporation form that may be available. Or, if you don't want to do the work yourself, we can help you incorporate a business in Illinois. Click here for a free quote on our Illinois business incorporation services.
B. S Corporation Filings for Your New Illinois Corporation
1. Federal S-Corporation Election Form
If you have Clickandinc.com incorporate a business for you in Illinois, and you choose to be treated as an s-corporation for federal income tax purposes, we can draft that form for you (IRS form 2553). If you choose to draft it on your own, you can download it from the IRS website.
NOTE: You have 75 days from the date you incorporate a business in Illinois to file your form 2553 with the IRS. If you fail to file in that time period, you will not be granted s-corporation status for the year in which you incorporate.
2. Illinois S-Corporation Election form
Illinois does not require s-corporations to file a seperate s-corporation election form with the state.
C. Get Your Illinois Tax ID Number and Or Other State Required Documentation
Have your Federal Tax ID Number (EIN) handy; most states require it on their state tax ID number forms and other forms that you may need to complete after you incorporate a business in Illinois.
1. File Illinois Business Registration Form
NOTE: An Illinois Business Tax number (IBT number) is issued only when all registration requirements are met.
2. File the New Hire Report with the Department of Employment Security
All employers are required to report persons hired or rehired within 20 days of their first day on the payroll. This includes full-time, part-time, temporary and rehires (persons who have been off the payroll for 180 or more days).
The information needed is: Employee's name, address and social security number, (the employee's first day of work is also requested, but is not mandatory); and the employer's name, address, and federal employer identification number (FEIN). An employer is also asked to provide an address where income withholding orders should be sent, if different from the FEIN address, but this information is optional.
3. Recording Your Articles With the County Recorder
Within 15 days after the Secretary of State mails your filed Articles back to you, you must record it with the Office of the Recorder of Deeds of the county in which the registered office of your corporation is located.
If you have trouble locating the County Recorder’s office, call the Secretary of State’s office at 217-782-7808 and ask them to help you locate the number of your County Recorder.
4. Other Business Resources
Illinois has a Business Assistance/Development website. It is the Department of Commerce and Economic Opportunity. Go to http://www.commerce.state.il.us/dceo
5. Annual Report
All Illinois corporations and LLCs must file an annual report. A pre-printed form will be sent to the Registered Agent approximately 60 days prior to the corporation’s anniversary month. The fee is $25.
Surely, the list above is not everything you will need to do once you incorporate a business in Illinois. You should always check with your accountant or attorney in order to make sure you are compliant with all state laws. Clickandinc.com is not a law firm and nothing on this page can be considered legal advice on which you can rely.
If you’d like Clickandinc.com to help you incorporate a business in Illinois, we’d love to help.
