As a lawyer, I can provide you with the legal requirements for starting a small business in Illinois. To form a limited liability company (LLC), you need to file Articles of Organization with the Illinois Secretary of State's office. The Articles of Organization must include the LLC's name, its purpose, its duration, and the name and address of its registered agent, among other things.
Additionally, you must obtain a Federal Employer Identification Number (FEIN) from the IRS, which is necessary for tax and banking purposes. You will also need to obtain any necessary licenses or permits, depending on the industry or activity that your business involves. It is essential to determine if your business needs to be registered with the state.
Furthermore, it is crucial to create an operating agreement, which outlines the framework for how the LLC will operate, including the management structure and decision-making procedures.
Finally, it is advisable to consult with a qualified Illinois business lawyer to ensure that all legal requirements are met.
There may be exceptions or limitations to these requirements depending on the specific circumstances of your small business, so it is essential to conduct thorough research.
In summary, a small business owner in Illinois must file Articles of Organization, obtain an FEIN, obtain any necessary licenses, create an operating agreement, and consult with a specialized attorney. It is essential to comply with all legal requirements and consult an attorney if you have any questions.
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