Illinois LLC fees reduced
Illinois governor Bruce Rauner signed into law Public Act 100-0571, effective December 20th, 2017, which reduces many Illinois LLC filing fees (including new LLC formations and annual report fees) by up to 70%.
The new law amends the Illinois Limited Liability Company Act, Section 50-10 which pertains to LLC fees.
Then about 6 months later (in the middle of 2018), the Secretary of State removed the “forced” expedited fees that used to come with the online filings for LLC formation and Annual Report filings.
The two most prominent changes are as follows:
- Illinois LLC Filing Fee (Articles of Organization):
- Mail filing fee reduced from $500 to $150
- Online filing fee reduced from $600 to $250 (later reduced to $150)
- Illinois LLC Annual Report Fee:
- Mail filing fee reduced from $250 to $75
- Online filing fee reduced from $300 to $125 (later reduced to $75)
Please see the table below for all reduced filing fees.
Prior to these changes, Illinois (alongside Massachusetts) had the highest fees in the nation to start an LLC. Many entrepreneurs used to opt for doing business in neighboring states, like Iowa, to avoid high Illinois LLC startup and annual costs.
Public Act 100-0571 came out of legislation proposed in Senate Bill 867, which has been the result of many efforts, including, but not limited to, the Small Business Advocacy Council, the Illinois Policy Institute, and many more.
Senate Bill 867 passed both Houses on November 7th, 2017 and was signed into law by Governor Bruce Rauner on December 20th, 2017.
This is a much-needed change to the Illinois business landscape and we’re excited to see the economic impact and new businesses this brings to the table.
The table below is up to date as of 2022.
New Illinois LLC filing fees:
|Filing/Document||Old Fee||New Fee|
|Articles of Organization||$500||$150|
|Application for Admission||$500||$150|
|Articles of Organization (Restated)||$500||$150|
|Articles of Organization (Series LLC)||$750||$400|
|Application for Admission (Series LLC)||$750||$400|
|Articles of Amendment||$150||$50|
|Amended Application for Admission||$150||$50|
|Application for Withdrawal (Domestic LLC)||$25||$5|
|Name Reservation Cancellation||$100||$5|
|Name Reservation Transfer||$100||$25|
|Name Registration Application||$300||$50|
|Registered Name Renewal||$100||$50|
|Assumed Name (Change)||$100||$25|
|Assumed Name (Cancel)||$100||$5|
|Petition for Refund||$15||$5|
|Statement of Termination||$25||$5|
|Application for Withdrawal (Foreign LLC)||$100||$5|
|Any Other Document||$100||$5|
Illinois LLC Act: Section 100-0571
Illinois LLC Act: Section 180-50-10
Secretary of State News: Reduced LLC Filing Fees
Secretary of State News: State Rolls Back LLC Fees
Chicago Daily Herald: It’s time for LLC Fee Reform
Illinois SB867: LLC Act Amendment to Reduce Filing Fee
Illinois Policy: Small Business Victory: Rauner Signs Law Slashing LLC Startup Fees