Starting a Business in Illinois
LLC filing: $150 | Corp filing: $150 | Business-friendly score: 5.5/10
Business Environment at a Glance
5.5/10
Business-Friendly Score
4.95%
Income Tax
6.25%
State Sales Tax
$14.00
Minimum Wage
Business Filing Fees in Illinois
| Item | Cost | Details |
|---|---|---|
| LLC Filing Fee | $150 | One-time, filed with Secretary of State |
| LLC Annual Fee | $75 | Due annually to maintain good standing |
| Corporation Filing Fee | $150 | One-time, Articles of Incorporation |
| Corporation Annual Fee | $75 | Annual report/franchise tax |
Tax Rates
| State Income Tax | 4.95% |
| Corporate Tax Rate | 9.5% (7% + 2.5% replacement tax) |
| State Sales Tax | 6.25% |
| Max Local Sales Tax | 4.75% |
| Minimum Wage | $14.00/hr |
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Illinois Special Requirements
- Annual report required with Secretary of State ($75)
- Illinois Business Registration (IBR-3) required for tax purposes
- Chicago businesses require additional city business licenses
- Unemployment Insurance registration required for employers