Illinois LLC: Key Data, Fees & Features
Your complete overview of $Illinois LLC costs, pros & cons, and key regulations. Make an informed decision with our up-to-date data.
State Filing Fee
$150
Processing Time
3-10 days
Annual Report Fee
$75
Anonymous LLC
No
Publication
No
Advantages
- LLCs can be member-managed or manager-managed.
- Illinois allows Series LLCs, which can protect separate businesses under one main LLC.
- Operating agreements are not required, providing flexibility.
Disadvantages
- The 6.25% Illinois sales tax must be collected.
- The individual income tax rate of 4.95% applies to LLC profits.
- LLCs with employees must pay workers’ compensation and unemployment insurance taxes.
Franchise Tax & State Requirements
If the report is more than 60 days late, there is a $100 late fee.
LLCs must collect the 6.25% Illinois sales tax and pay the individual income tax rate of 4.95%. LLCs with employees must also pay workers’ compensation and unemployment insurance taxes.
Frequently Asked Questions
Transparency & Data Sources
This review was last updated on $August 19, 2025 to ensure accuracy.
