Form a Illinois Corporation – Form a corporation in Illinois – Form a Illinois S corp

Sun Corporate Filings can help you form a Illinois corporation with the Illinois Secretary of State on an expedited basis. To form a corporation in Illinois or form a Illinois subchapter S corporation, you must file the Illinois Articles of Incorporation with the Illinois Secretary of State. Sun can incorporate your Illinois S corporation or register your C corporation in Illinois so you can spend your time focusing on your Illinois corporation's success.

We can form a Illinois general stock corporation or a Illinois Subchapter (Illinois S Corp.) corporation for you at a low cost. Let us make the Illinois incorporation process quick and painless for you by preparing and filing the Illinois Articles of Incorporation with the Illinois Secretary of State on your behalf.

To form a Illinois corporation online, click here to see the costs and time turnaround options for Illinois corporations.

How do I form a Illinois Corporation?

There is no need to ask, "How do I form a Illinois Corporation?" because we know how to incorporate in Illinois form start to finish. First, we check corporate name availability with the Illinois Secretary of State. Second, we prepare the Illinois Articles of Incorporation. Third, before we form the Illinois corporation, we verify that the Articles of Incorporation are free of errors. Fourth, we file the Articles of Incorporation with the Illinois Secretary of State. Fifth, when the Illinois Secretary of State files the Illinois Articles of Incorporation, we will return the filed document to you. We make forming a corporation in Illinois simple and fast!

What are the advantages of forming a Illinois Corporation?

There are many advantages of forming a Illinois corporation. To begin with, there is the protection of the "corporate veil" that provides limited liability to the owners (shareholders). The shareholders are not personally liable for debts and obligations of the corporation. They can personally lose only to the extent of their investments in the Illinois corporation form purchasing stock. Since the Illinois corporation is an independent legal entity, the Illinois corporation has continuous existence. It does not cease to exist simply because one of the shareholders dies or retires. In addition, corporations are the most well known and widely recognized type of business entity. Corporations often have an easier time setting up insurance, retirement funds, profit-sharing, pension, and stock option plans than other business entities.

When you form a Illinois corporation, the owners (shareholders) are not personally liable for the debts and obligations of the Illinois corporation. Ownership in a Illinois corporation is more easily transferable than other business entities. Under most circumstances, shares of stock can be sold without restriction to a third party without having to obtain consent from the Illinois corporation itself. Another advantage of forming a Illinois corporation is that capital can be raised more easily than other forms of business entities through the sale of stock.

How do I obtain an EIN or Employer Identification number or Tax Payer ID number for my Illinois Corporation?

After we form a Illinois corporation on your behalf, we offer supporting services. We can obtain an employer identification number (an EIN) for your Illinois corporation. An EIN is required to open a bank account, hire employees, and to start business credit for your Illinois corporation. If you purchase our Illinois premium package, EIN obtainment is included for your Illinois corporation.

How do I form a Illinois S Corporation?

If you want to form a Illinois S corporation or Illinois sub chapter S corporation, we can prepare the form required to obtain S corporation status with the IRS. It is important to understand that your Illinois S corporation starts as a general stock corporation (C corporation). To obtain or to form a Illinois S corporation, you must file for subchapter S status with the Internal Revenue Service (IRS). Forming a Illinois S corporation simply means the corporation is taxed like a partnership or LLC with a pass through tax structure. Make sure to check with your accountant or the IRS for limitations or read about Illinois C corporations below. By obtaining S corporation status in Illinois, it eliminates double taxation and the corporation generally does not file a tax return. On their tax return, the Illinois S corporation's shareholders include their share of the Illinois Corporation's separately stated items of income, deduction, loss, and credit, and their share of non-separately stated income or loss.

What are the advantages of a C Corporation in Illinois?

Generally most people form Illinois C corporations that plan on publicly trading the corporation's stock. Since Illinois S corporations cannot have more than 75 shareholders, choosing to maintain a Illinois C corporation allows for 76 shareholders or more. A Illinois C corporation can have multiple classes of stock such as preferred and common shares. A Illinois C corporation will be double taxed since both the corporate entity and the individual owners have to file tax returns. For this reason alone, many will find Illinois S corporations desirable. However, a Illinois S corporation can only be owned by individuals that are U.S. citizens or registered aliens, issue only one type of stock, and are limited to no more than 75 shareholders.

To form a Illinois corporation online, click here to see the costs and time turnaround options for Illinois corporations.

How do I obtain or prepare corporate bylaws for my Illinois Corporation?

Often times, you can hire an attorney or paralegal to prepare the corporate bylaws for your Illinois corporation but that could be very costly. If you purchase our premium package, Sun will prepare the initial bylaws (standard language) for your Illinois corporation and include meeting minutes (MS Word format) that you can prepare as needed.

What are the corporate bylaws and why are they so important for my Illinois corporation?

The corporate bylaws serve as a blueprint for your Illinois corporation The bylaws contain the rights, privileges, and powers of the officers, directors, and shareholders. Most Illinois bylaws contain the number of directors and their names. Illinois bylaws also contain the names of the officers for the titles: President, Vice-President, Secretary, and Treasurer/Chief Financial Officer (CFO). The bylaws normally outline how the bylaws can be amended or changed at a future date.

Another important part of Illinois corporation bylaws is to create "rules" on how the Illinois corporation can open a bank account, take out loans, write checks, enter into contracts, obtain business credit, and issue stock certificates to its shareholders. Most Illinois bylaws will reference a list of shareholders in alphabetical order that includes Illinois shareholder's names, addresses, titles held with the Illinois corporation, and the amount of shares the shareholder owns in the Illinois corporation.

What is a Illinois corporate seal?

After the Illinois corporation prepares its bylaws or has Sun prepare the bylaws, the Illinois corporation will need a corporate seal. What is a Illinois corporate seal? A corporate seal is a handheld device that imprints paper with the corporation's name, state of formation, and date the Illinois corporation was formed. Many banks and other lending institutes require Illinois corporations to possess and use a corporation seal on business documents or loan papers. All Illinois corporation kits that Sun sells contain a handheld corporate seal embosser.

What is a Illinois corporation kit?

The Illinois corporate kit is typically a hardbound binder that contains all of the Illinois corporation's important documents such as the Illinois Articles of Incorporation and bylaws. All the Illinois corporation kits that Sun sells include having the Illinois corporation's name hot stamped (professional imprint of the Illinois corporation's name) on the spine. Most Illinois corporation kits come with a slipcase to keep the binder safe. Some corporate kits are made with a slipcase built in. The choice is yours.

Another important part of a Illinois corporate kit is stock certificates. All of the Illinois corporate kits that Sun sells contain 20 custom stock certificates that include the Illinois corporation's name, the amount of shares, the par value the corporation is authorized to issue, and the title of President and Secretary below the signature lines. If you have already formed your Illinois corporation, you can order a Illinois corporate kit by clicking here. We have a selection of high quality kits that come in array of styles and colors. Best of all, standard shipping is always free.

Now that you have formed your Illinois corporation, obtained your EIN from the IRS, decided upon whether to elect S corporation status or remain a C corporation, prepared the Illinois bylaws, issued shares of stock, and used your seal embosser, it is time to verify which local city and/or county tax licenses your business will need. The best place to start is your city hall or county recorder's office. Take the time to verify your areas business licensing requirements. For those of you who plan to run your Illinois corporation out of your home, check with your city or county to find out if a work at home permit is required. Once your licensing requirements are met, it is time to start operating your Illinois corporation.

To form a Illinois corporation online, click here to see the costs and time turnaround options for Illinois corporations.

We wish you the best with your Illinois corporation business venture! Questions? 888 595-2747