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  • Il Llc-50.1 2018

Get Il Llc-50.1 2018-2025

FormLLC50.1Illinois Limited Liability Company ActAugust 2018Secretary of State Department of Business Services Limited Liability Division 501 S. Second St., Rm. 351 Springfield, IL 62756 2175248008 www.cyberdriveillinois.comPrint FILE.

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For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and elects to be treated as a corporation. However, for purposes of employment tax and certain excise taxes, an LLC with only one member is still considered a separate entity.

Each member of the LLC pays self-employment taxes (12.4%for Social Security and 2.9% for Medicare) on their share of the LLC's profits. LLC members will also need to pay Illinois state income tax (4.95%). We go over other taxes your Illinois LLC may be obligated to pay.

Information Needed to Fill Out the Form Illinois LLC name. Registered agent name. Registered office address. The location where the LLC was formed. The date of formation and admission to Illinois. Main place of business address (P.O. boxes not allowed) Names and addresses for each member and manager.

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.

Small business corporations (S corporations) who file the federal Form 1120S, U.S. Income Tax Return for an S Corporation, do not pay income tax. Corporations, including S corporations, also pay replacement tax. Corporations, other than S corporations, pay 2.5 percent (. 025) replacement tax.

An Illinois LLC is considered advantageous because it offers the same limited liability as a corporation, but with less formality in its creation and operation. However, as will be seen, there is a bit more to it than that.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232