Get Il Bca 13.15 2003

PAID-IN CAPITAL: Paid-in capital is the amount of money or other property paid to the corporation for, or on account of, the issued shares, less expenses incurred with the issuance of shares, plus any cash or other consideration contributed to the corporation.

Background: Each domestic and foreign Illinois Corporation is required to pay franchise tax at the time of filing its first report of issued shares (articles of Incorporation or application for authority) for the privilege of exercising its franchises in the State of Illinois.

Additional paid-in capital (APIC) is also known as capital surplus or share premium. These entries show the amount a corporation raised on shares over their face value. For example, if 100 common stock shares at $1 face value are sold at a price of $2 per share, the additional paid-in capital is $200.

​Domestic BCA Any company that files Articles of Incorporation in the State of Illinois under the Business Corporation Act of 1983, as amended is considered a domestic corporation in the State of Illinois.

Paid-in capital (also paid-up capital and contributed capital) is capital that is contributed to a corporation by investors by purchase of stock from the corporation, the primary market, not by purchase of stock in the open market from other stockholders (the secondary market).

How Is Paid-In Capital Calculated? Paid-in capital is the total amount received by a company from the issuance of common or preferred stock. It is calculated by adding the par value of the issued shares with the amounts received in excess of the shares' par value.

Foreign LLCs in Illinois need to register with the Illinois Secretary of State by submitting an Application for Admission to Transact Business and paying a state filing fee of $150 (add $100 for expedited filing).