What Is Required To Incorporate In Illinois?

2007-03-08 10:33:40

( Business )



There are a number of requirements that need to be adhered to when you incorporate in Illinois:

The first thing that needs to be considered when you incorporate in Illinois is the creation of a corporate name. It is recommended that you prepare a list of many company names you may wish to use, in order of preference. This is so that you have a list of alternatives in the event your preferred name is not accepted. A name check can be performed with the proper government authorities to ensure the originality of your name.

In selecting a company name, you should consider the following rules: the name must be unique, and not be similar to a company name in existence, whether the name has been reserved, or is currently being used; the company name should not contain any words that imply that the business that you plan to operate is in the nature of insurance, indemnity, assurance, or banking unless you have received authorization from the proper state authorities to include this with your corporate name; you must use letters and/or symbols that can easily be copied by the local secretary of state; the company name must not contain the words, “trust”, “cooperative”, or “lottery” unless it plans to operate in this type of business; the name that you use must be the name it will use to operate its business, unless it has another name, which has been chosen, and is in compliance with Illinois state laws; lastly, the company name should end with one of the following words: “incorporation”, “corporation”, “company”, or “limited” in its full or its abbreviated form.

The articles of incorporation must be filed with the state of Illinois as part of the requirements to incorporate in Illinois. There are certain information that must be included in the articles of incorporation including the names and addresses of its incorporators, the purpose why the business was formed, the names of its directors (addresses are not required) and the maximum amount of shares it is authorized to issue per class. In addition, by-laws will need to be drafted, but its submission to the proper authorities is not required.

A registered agent must be appointed to receive any official correspondence, and any documents on lawsuits that are served against the corporation.

The requirements in order to incorporate in Illinois are somewhat similar to when you incorporate in Texas, incorporate in California, or any other state.

Each year, a company that incorporates in Illinois must also submit an annual report within 60 days before the original month of incorporation. The report must contain an update of the corporation’s name and registered address, the name and address of its registered agent, the number of shares issued, paid-up capital, the name and addresses of its directors and officers, the property value and location of its corporation and its status as a women or minority-owned business.


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