Illinois Foreign LLC – Qualification and Registration

If you already have an LLC in another state and want an LLC in Illinois, then starting an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in Illinois.

Forming an Illinois Foreign LLC

A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in Illinois, you need to register it with the Illinois Secretary of State.

Step 1: Choose Illinois Foreign LLC Name

Obtain a name reservation certificate and submit it with your foreign qualification requirements at the Illinois Secretary of State. Your LLC’s legal name outside of Illinois will be listed on the application, along with the name it will use in Illinois. Take note of the requirements for naming your LLC.

Check name availability at Illinois’ business entity names and reserve your LLC name.

Step 2: Select Illinois Foreign LLC Registered Agent

You’ll need a registered agent to form a foreign LLC in Illinois and take note that an Illinois registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:

Step 3: File Registration of Illinois Foreign LLC

Fill out and submit a Foreign LLC Application for Registration form by mail to the Department of Business Services, Limited Liability Division, 501 S. Second St., Rm. 351, Springfield, IL 62746.

Include the following:

• LLC’s full legal name.
• A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
• LLC’s principal office and mailing addresses.
• LLC formation state and date.
• Registered agent’s name and address in Illinois.
• Date when your LLC will start operations in Illinois.
• Credit card information on the last page of the form for the $150 application fee.

The LLC cost in Illinois, even for foreign LLCs will differ between online filing and by mail.

Step 4: Determine How Your Illinois Foreign LLC is taxed

Foreign LLCs are also subjected to the Illinois Business Privilege Tax, and they must file LLC annual reports each year.

Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.

Steps to Filing Illinois Foreign LLC Online

When you are registering for the foreign LLC in the State of Illinois, you will have to submit your Application for Registration of foreign LLC with the Secretary of State which costs $150. After approval, you will receive a Verification Certificate from the State Office. The State does not offer online filing options for foreign LLCs. We have explained the aspects you need to cover when you apply for Illinois Foreign LLC.

1. Download the Application Form PDF (LLC-45.5) on your computer system.
2. Read the information mentioned in the application carefully and proceed to fill in the required details.
3. You are required to attach the Certificate of Good Standing or Existence issued by proper authority in the State of original jurisdiction. It costs $25.
4. Make the check of $150 payable to the Secretary of State.5. Attach all the documents, i.e., the application form, Certificate of Good standing or existence, and the filing fee and mail it to the following address, Secretary of State, Department of Business Services, Limited Liability Division, 501 S. Second St., Rm 351, Springfield, IL 62756.

After Forming Illinois Foreign LLC

Here are added things you need to accomplish after forming your Illinois Foreign LLC

1. Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
2. File LLC annual reports and Business Privilege Tax.
3. Pay State Taxes like sales tax; you’ll need an EIN for your LLC.

It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form the foreign LLC in Illinois.

F.A.Qs

How Much Does It Cost to Register a Foreign LLC in Illinois

To register as a foreign LLC in Illinois, you can file through mail by paying a filing amount of $150 to the Illinois Secretary of State.

Registering a foreign LLC in Illinois involves several steps, each of which incurs its own associated fees. From filing paperwork with the Secretary of State’s office to obtaining a Certificate of Authority to conduct business in the state, there are multiple expenses that business owners need to consider before embarking on this venture.

The first cost to consider is the initial filing fee, which varies depending on the type of LLC being registered and the method of submission chosen. Whether filing online or by mail, this fee can range from a few hundred to several hundred dollars. Additionally, there may be expedited processing fees for those seeking a quicker turnaround time for their applications.

Once the LLC is registered, there are ongoing costs to maintain compliance with Illinois state regulations. An annual report fee must be paid to the Secretary of State’s office to keep the LLC in good standing, as well as any applicable franchise taxes or state taxes depending on the LLC’s income or activities within the state.

Beyond state fees, business owners may also need to consider professional fees for legal advice or consultation services to thoroughly understand the implications of registering a foreign LLC in Illinois. This is particularly important for companies that operate in highly regulated industries or engage in complex business transactions that may have tax or legal implications.

While the costs associated with registering a foreign LLC in Illinois can quickly add up, it is important for entrepreneurs to weigh these expenses against the benefits that a foreign entity can bring. By expanding into new markets or efficiently managing resources across borders, foreign LLCs offer strategic advantages that can ultimately offset the initial financial investment.

However, it is crucial for business owners considering this path to conduct thorough research and consult with legal and financial advisors to understand the full scope of expenses involved in registering and maintaining a foreign LLC in Illinois. By carefully budgeting and planning for these costs, entrepreneurs can navigate the registration process with confidence and set themselves up for success in the global marketplace.

In Conclusion

Starting a foreign LLC in Illinois does not require a lot of documentation or tasks. However, it is always good to seek help from a professional when it comes to running your business. Get a professional registered agent and form your foreign LLC anywhere without a hassle.