Illinois is a very popular state for new business. This guide details how to incorporate in Illinois, including filing forms, fees, and processing times. This guide is only for forming an Illinois corporation. If you want to form an LLC in Illinois, click the link on the last slide.

2. Choose a Corporate Structure
• Incorporating means forming a corporation, a
state legal entity
• Illinois offers a number of for-profit structures.
This guide focuses on Business Corporations
only.
• C-Corp and S-Corp are tax classifications, not
structures

3. Check Name Availability
• Do a name search through CyberDrive, Illinois’
Corporations Division website.
• Your name cannot conflict with an existing one

4. Appoint a Registered Agent
• Corporations must appoint a registered agent
in the state of Illinois
• The agent receives notice of lawsuit and legal /
government notices
• Can be an individual with an address in the
state (not P.O. Box) or a commercial agent.

5. File Articles of Incorporation
• Form BCA 2.10: Articles of Incorporation –
Business Corporations Act
• Fee: $150 + franchise tax ($25 min.) + $100 option
expedite fee
• Mail to Illinois Secretary of State or file online
• If by mail, file in duplicate
• Turnaround: 2 weeks by mail, 1 day if expedited

6. Bylaws and Records
• Keep your articles, affidavits, and other important
documents
• Draft bylaws for the organization
• Record kit & templates save time!

7. Appoint Initial Directors
• These directors serve on the board until the
annual meeting of shareholders
• Appointed by incorporator
• Documented in corporate records

8. Hold Organizational Meeting
• Consists of incorporators and/or initial directors
• Keep minutes of this meeting
• Appoint officers (e.g. President, Secretary)

9. Issue Stock Certificates
• Owners may be issued stock certificates as
proof of ownership
• Secretary’s stock ledger records issued stock
• Stock certificates included in Records Kit

10. Obtain EIN
• Federal Employer Identification Number
• Required for corporations
• File Form SS-4 with IRS by mail, fax, or online

11. Obtain IL Tax IDs
• IL offers consolidated tax registration
• Form REG-1: Illinois Business Registration
Application
• Mail to Illinois Department of Revenue or file
online
• Fee: Varies depending on tax accounts needed

12. Consider S-Corp Election
• By default, the corporation is taxed as a C-Corp
• Consider S-Corp for tax savings as a small
business
• Fee: $0
• File IRS Form 2553

13. Obtain Applicable Licenses
• To run your business legally, you may need a host
of local, state, or federal licenses and permits
• Search your requirements on SBA.gov

14. Ongoing Activities
• File Illinois Annual Report with Dept of State
• Board meetings
• Annual shareholder meeting
• Maintain a registered agent
• Update the government with address change

15. For More Info:
• How to Incorporate in Illinois
• Email: info [AT] HarborCompliance [DOT] com
• Starting an LLC?

16. The information contained in this
presentation is not legal, financial, or tax
advice. Harbor Compliance is not a
legal or accounting firm.
Copyright Harbor Business Compliance Corporation 2014