How to Become Incorporated in Illinois
A business can become incorporated in Illinois by filing the appropriate incorporation documents with the state. Once the company's incorporation documents are accepted by the state, the Illinois corporation will be treated like a separate legal entity from the shareholders of the business. A big reason business owners may opt to incorporate in the state of Illinois is to protect their personal assets from the business's debts and liabilities.
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Instructions
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Conduct a business name availability search using the Illinois Secretary of State website. This will ensure the selected name of the Illinois corporation is not in use by another entity that is registered in the state. The name chosen for the Illinois corporation must be distinguishable from other entities that are registered with the Illinois Secretary of State. Include corporate identifiers in the legal name of the company such as "company," "limited," "incorporated," "corporation," or the correct abbreviation.
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Appoint individuals to serve on the Illinois corporation's board of directors. There are no age or residency requirements imposed on directors of an Illinois corporation. At least one person must be selected to serve on the company's board of directors. Directors of an Illinois corporation are responsible for allocating the company's resources and selecting officers to manage the company's daily affairs.
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Complete the Illinois articles of incorporation. Print fill-in-the-blank articles of incorporation from the Illinois Secretary of State website, or complete the articles of incorporation online using the Illinois Secretary of State website. State the legal name, address and purpose for forming the Illinois corporation. Indicate the number of shares the corporation has the authority to issue to potential shareholders. List the name and address of each incorporator. An incorporator is required by the state of Illinois to have reached 18 years of age. Incorporators are responsible for filing the company's articles of incorporation with the state. Provide the name and address of an adult or business that will accept the Illinois corporation's legal and tax documents.
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Submit the completed articles of incorporation to the Illinois Secretary of State. Illinois articles of incorporation may be submitted to the Illinois Secretary of State by mail or in person at the Illinois Secretary of State's office. The Illinois Secretary of State office is located in the Michael J. Howlett Bldg, 501 S. 2nd St., Rm 350, Springfield, IL 62756. As of 2010, it costs $150 plus a minimum $25 franchise tax to file articles of incorporation with the Illinois Secretary of State. Business owners may file articles of incorporation online using the Illinois Secretary of State website. As of 2010, it costs an Illinois corporation an additional $100 to file articles of incorporation online.
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File the certificate of incorporation. The Illinois Secretary of State will send newly formed corporations a certificate of incorporation indicating that the articles of incorporation have been accepted by the state. File the certificate and articles of incorporation with the recorder of deeds in the county where the Illinois corporation operates. This must be accomplished within 15 days of receiving the certificate of incorporation from the Illinois Secretary of State.
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Prepare bylaws to establish rules and procedures for operating the Illinois corporation. The state of Illinois does not provide specific guidelines for a corporation to follow when creating bylaws. Include information in the bylaws such as the date and time when shareholders and directors will hold meetings, as well as the duties of the company's officers. Maintain the bylaws at the Illinois corporation's primary place of business.
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