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![]() Illinois!Incorporate a Business in Illinois:
Corporate Name Endings
* The name shall contain word "corporation," "company,"
"incorporated," or "limited," or an abbreviation thereof. The name
shall not contain any word or phrase which indicates or implies
that it is organized to conduct business of insurance, assurance,
indemnity, acceptance of savings deposit, banking, or corporate
fiduciary. The name shall be distinguishable from the name of any
domestic or foreign corporation authorized to transact business or
a name exclusive right to which is, at the time, reserved or
registered.
Articles of Incorporation Requirements
* Director Information
* Minimum Number - One or more.
* Residence Requirements. - No provision.
* Age Requirements - None.
* Directors are not required to be listed in the articles of
incorporation.
* Officer Information
* The officers are not required to be listed in the articles of
incorporation.
* Stock Information
* An increase in the shares may cause an increase in the
initial filing fee.
Yearly Requirements
* Annual Statements
* The annual franchise tax payable by each domestic or foreign
corporation is computed at the rate of 0.1% of stated capital
for the 12-month period beginning on the 1st day of the
anniversary month. The tax cannot be less than $25 or more
than $1 million per year.
* The annual report must be filed within 60 days immediately
preceding the first day of the anniversary month of
corporation each year (or in the case of a corporation which
has established an extended filing month, the extended filing
month of the corporation each year). Filing fee, $15.
* Income Tax Rate
* 4.8% of the corporation's net income.
* Franchise Tax Rates
* The basis for an additional franchise tax payable by a
domestic corporation is (1) the increased amount represented
in Illinois of its paid-in capital, or (2) in the case of a
merger or consolidation, the increased amount represented in
Illinois of the paid-in capital of the surviving or new
corporation. The basis for the annual franchise tax payable
by a domestic corporation is the amount represented in
Illinois of its paid-in capital on the last day of the 3d
month preceding the anniversary month. The "taxable period"
is the 12-month period commencing with the first day of the
second month preceding the corporation's anniversary month in
the preceding year and prior to the first day of the second
month immediately preceding its anniversary month in the
current year.
* The annual franchise tax payable by each domestic or foreign
corporation is computed at the rate of 0.1% for the 12-month
period beginning on the 1st day of the anniversary month. The
tax cannot be less than $25 or more than $1 million per year.
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