What steps do I need to take to form a corporation in Illinois?

To form a corporation in Illinois, you need to take the following steps:

1. Choose a name for your corporation: You must choose a unique name for your corporation that is not already in use or too similar to another known entity within the state. You can check the availability of your desired name on the Illinois Secretary of State's website.
2. Identify your registered agent: A registered agent is an individual or company that is authorized to receive legal notices and service of process on behalf of the corporation. You must select a registered agent located within Illinois and provide their name and address in the Articles of Incorporation.
3. File Articles of Incorporation: The next step is to file Articles of Incorporation with the Illinois Secretary of State's office. The Articles should include the corporation's name, the registered agent's information, the purpose of the corporation, the number of authorized shares of stock, and the names and addresses of the initial directors.
4. Obtain an EIN: An Employer Identification Number (EIN) is a unique identifier assigned to each corporation by the Internal Revenue Service (IRS) for tax purposes. You can apply for an EIN online through the IRS website.
5. File Initial Report: Within 60 days after filing the Articles of Incorporation, you must file an Initial Report with the Illinois Secretary of State's office. This report confirms the corporation's name and registered agent information and is required to keep your corporation in good standing.
6. Draft Corporate Bylaws: Bylaws are the rules that govern the internal operations of your corporation. You should draft a set of corporate bylaws outlining the duties and responsibilities of the corporate officers, the process for electing directors, and other important details.
7. Hold Organizational Meeting: The initial directors of the corporation should hold an organizational meeting to adopt bylaws, elect officers, and take other necessary actions.

Once you have completed these steps, your corporation is officially formed in the state of Illinois. It is important to note that there may be additional requirements or restrictions depending on the specific type of corporation you are forming, and you should consult with an experienced attorney to ensure compliance with all applicable laws and regulations.