Is an operating agreement required for an LLC in Illinois?

An LLC operating agreement is not required in Illinois, but is highly recommended. This is an internal document that establishes how you will run your LLC. It sets out the rights and responsibilities of the members and managers, including how the LLC will be managed.

How do I organize my LLC in Illinois?

Forming an LLC in Illinois

Step 1: Choose a name for your Illinois LLC.
Step 2: Appoint an Illinois registered agent.
Step 3: Check if you need an Illinois business license.
Step 4: File articles of organization.
Step 5: Draft an LLC operating agreement.
Step 6: Comply With Employer Obligations.

What is the annual filing fee for an LLC in Illinois?

$75
Illinois Limited Liability Company Annual Report Requirements:

Agency:	Illinois Secretary of State – Business Services Department
Form:	LLC 50.1
Filing Method:	Mail or online.
Agency Fee:	$75. Filing online requires a $50 expedite fee.

What is an LLC Operating Agreement in Illinois?

An Illinois LLC operating agreement is a legal document used to set forth an outline of the company’s operational procedures and policies for all members to follow in a uniform fashion. The State of Illinois does not require companies to file this document.

Can an LLC be a registered agent in Illinois?

Yes, any owner or employee of a business can be its registered agent in Illinois as long as they are over the age of 18, and have a street address in Illinois. You could also choose to elect a member of your LLC, or even a friend you trust, as long as the person meets these requirements too.

Can you use a PO box for an LLC in Illinois?

Enter the primary business address, and keep in mind that the business must be a physical address in Illinois. P.O. boxes are not allowed.

Do I need to renew my LLC Every year in Illinois?

After you form an LLC in Illinois, you must file an Annual Report and pay a $75 fee every year. You need to file your Annual Report in order to keep your Illinois LLC in compliance and in good standing with the Illinois Secretary of State.

Do you have to renew your LLC Every year in Illinois?

In Illinois, an annual report is a regular filing that your LLC must complete every year to update your business information, including: Principal business address.

How to create your own LLC operating agreement?

Select a State

Name your LLC

Choose a Registered Agent

File the Articles of Organization

Create an Operating Agreement

How to write a LLC operating agreement?

Meet with your co-owners. You should involve all owners of the LLC in the drafting process.

Format your document. To begin drafting,you should open a blank word processing document and set the font to a size and style that is readable.

State that you are forming an LLC.

Identify your company and principal place of business.

What to include in your LLC operating agreement?

Name and Address of Your LLC Include the legal name of the LLC and its registered address.

LLC Articles of Organization File articles of organization with the secretary of state in the state where your business is based.

Purpose of Your LLC

Does your LLC have a proper operating agreement?

There’s no standard Operating Agreement that will work across the board. Different LLCs will have different terms and provisions depending on the particulars of their business, ownership structure, and location. Even LLCs providing similar services in the same state won’t have identical Operating Agreements.