Illinois Articles of Incorporation
Illinois articles of incorporation are filed to create a corporation.
Preparing and filing your articles of incorporation is the first step in starting your business corporation. Approval of this document secures your corporate name and creates the legal entity of the corporation. Only after this approval can the corporation apply for tax IDs, obtain business licenses, sign contracts, and otherwise conduct business.
Incorporating provides many important benefits:
- Limits the liability of directors, officers, and shareholders
- Fulfills statutory requirements to register your business name
- Provides governance and adds credibility
|Agency:||Illinois Secretary of State - Business Services Department|
Mail, fax (only if you have a prepaid account), or online
$150 filing fee + franchise tax ($25 minimum) + optional $100 expedite fee. The expedite fee is required if you file online. Franchise tax is calculated as $1.50 per $1,000 on the paid-in capital represented in this state. So if you paid-in less than $16,666, then your franchise tax due is the minimum amount of $25.
~2 weeks by mail or fax. ~1 business days with $100 expedite fee.
Other Helpful Illinois Facts
As you are preparing to incorporate, keep in mind the following requirements specific to Illinois.
- Number: One or more required.
- Qualifications: None.
- Quorum: A majority of directors, or more if stated in the bylaws.
- As stated in the bylaws. One person may hold multiple offices. One officer is required to be responsible for maintaining corporate records.
- Required: No.
Illinois Annual Shareholder Meeting
- Required: Yes.
- Action by written consent: Allowed if enough shareholders consent to equal the number required to take action by vote.
- Qualifications: N/A
- Stock Certificate: Not required.
- Voting Trusts Allowed: Yes.