| Procedures for incorporating in Illinois are very simple | | | | Names and addresses of the incorporators. |
| and can be done easily, or by seeking legal help. As | | | | Statement of purpose. |
| there are numerous benefits, people are choosing to | | | | The number of shares authorized to be issued as well |
| incorporate their new business ventures more readily. | | | | as the number of shares that the corporation |
| Steps for Incorporating In Illinois: | | | | proposes to issue and the consideration to be got for |
| It is best if an attorney is hired to guide you through the | | | | such shares has to be listed too. |
| process of selecting the right legal structure for your | | | | Name and address of registered agent, who has to be |
| business. It could be a C, S, Closed, professional, or | | | | a resident individual of this state, whose business office |
| non-profit corporation. | | | | is the same as the registered office or a corporation |
| Selecting the right name is the next crucial step for | | | | with authority to transact business in this state. That is |
| incorporating your company. The name has to neither | | | | authorized by its articles of incorporation to act as |
| be original and not a duplicate of any other registered | | | | such agent and whose business office is the same as |
| business nor be in the list of reserved names. Care | | | | the registered office. It is mandatory to file a copy of |
| should be taken to ensure that the name selected | | | | the articles in the county where the registered agent |
| does not state or imply that the corporation is | | | | resides. |
| authorized to carry out business in insurance, | | | | There has to be a minimum of one director and the |
| assurance, indemnity, the acceptance of savings | | | | board of directors may amend, repeal, or adopt |
| deposits, banking or as a corporate fiduciary unless | | | | bylaws. The bylaws have to be maintained in the |
| authorized by the proper state agency to do so. And | | | | principal executive office. Directors may appoint |
| the name must contain the words "trust," "pawners," or | | | | officers and delegate tasks such as preparing minutes |
| "cooperative" if indeed it does engage in any such | | | | and recording them. |
| business. The corporation has to conduct business only | | | | Reports have to be filed annually with the Secretary |
| under the registered name and it must end in the | | | | of State at least 60 days prior to the month of |
| words or abbreviations of the words "Incorporated," | | | | incorporation. This must contain the name of the |
| "Corporation," "Company," or "Limited." | | | | corporation, mailing address, address of its registered |
| There must be a minimum of one incorporator and | | | | office and registered agent, names and addresses of |
| they may be natural persons above 18 years or be | | | | directors and officers, and share details. |
| another corporation. They have to file the articles of | | | | Taxes are based on the net taxable income. There is |
| incorporation with the Secretary of State of Illinois and | | | | a franchise tax and license fee in this state. |
| pay a fee of $175. The state will process them within | | | | These are a few guidelines for incorporating in Illinois. |
| 20 business days. | | | | There are firms that offer their services as well as |
| The articles must contain additional documents | | | | products to help run a successful business. |
| providing: | | | | |