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Illinois LLC Fee Reductions

LLC Act reductions

"Illinois LLC Fee Reductions" By Kevin J. Richter

Illinois has a new law (Public Act 100-0571) that significantly reduces fees related to Limited Liability Companies. Previously to file Articles of Organization, the fee was $500. Under the new law, the fee has been reduced to $150. The former $750 fee for filing the Articles of Organization in connection to an LLC with the ability to establish a series of LLCs is now reduced to only $400. For filing Articles of Amendment or amended application for admission, the new fee is $50 instead of the former $150. 

Each of the fees associated with the filings related to Limited Liability Companies have been significantly reduced.

On an annual basis the fee for an annual report is now only $75 opposed to the previous $250. 

These changes are being made to make Illinois more competitive in the LLC market. This brings Illinois more in line with other states though it is still not the lowest state for fees related to LLCs.

To view other changes, visit http://ilga.gov/legislation/publicacts/fulltext.asp?Name=100-0571. For questions related to these new fees you may contact the author of this blog, Kevin Richter, at 618-234-9800.

Kevin J. Richter is a shareholder at MMR focusing his practice in business law, taxation, estate planning, employee benefits, employment law and real estate law.

Professional Services Disclaimer: Please note that the information presented here is as an educational service, and while it contains information about legal issues, it is not legal advice. No warranty is made regarding the applicability of the information presented to a particular client situation, and the information set forth is not a substitute for original legal research, analysis and drafting for a particular client situation.

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