The steps to form a limited liability company (LLC) in Illinois are as follows:
- Choose a Name for the LLC: The name of the LLC must be unique and not already in use by another business entity in Illinois. The name of the LLC must also include the words "Limited Liability Company" or the abbreviation "LLC."
- Appoint a Registered Agent: The LLC must have a registered agent, who must be a resident of Illinois or a business entity authorized to do business in Illinois. The registered agent is responsible for accepting legal documents on behalf of the LLC.
- File Articles of Organization: The LLC must file Articles of Organization with the Illinois Secretary of State. The Articles of Organization must include the name of the LLC, the name and address of the registered agent, and the business purpose of the LLC.
- Prepare an Operating Agreement: Although an operating agreement is not required by law, it is highly recommended that the LLC prepare one. The operating agreement sets out the rules and procedures for how the LLC will be managed.
- Obtain Necessary Permits/Licenses: Depending on the type of business the LLC will be engaging in, it may need to obtain certain permits or licenses from the state or local government.
- File Annual Reports: The LLC must file an Annual Report with the Illinois Secretary of State each year. The report is due by the first day of the LLC's anniversary month.
In Illinois, there is no requirement to publish notice of the LLC's formation in a newspaper. It's important to note that this advice is general in nature and may not apply to every individual case. It is recommended to consult with a licensed attorney in Illinois for specific guidance and advice related to forming an LLC in Illinois.
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