Are you planning to start a new business in the state of Illinois? One of the first steps you need to take is filing the Articles of Incorporation. This legal document establishes your business as a corporation and is required by the Illinois Secretary of State to legally operate within the state.
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In this article, we will guide you through the process of filing the Illinois Articles of Incorporation step by step. Let's get started!
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Step 1: Choose a Name for Your Corporation
Before you can file the Articles of Incorporation, you need to select a unique and available name for your corporation. To ensure the name you choose is not already taken, you can search on the Illinois Secretary of State's website. The name must also comply with the naming requirements set forth by the state.
Step 2: Prepare the Articles of Incorporation
Once you have finalized your corporation's name, you need to prepare the Articles of Incorporation. This document provides basic information about your corporation and includes crucial details such as:
- The corporation's name and address
- The purpose of the corporation
- The number of shares the corporation is authorized to issue
- The names and addresses of the initial directors
- The name and address of the registered agent, who will receive official correspondence on behalf of the corporation
You can obtain a template for the Articles of Incorporation from the Illinois Secretary of State's website. Make sure to fill in all the necessary information accurately.
Step 3: Appoint a Registered Agent
Every corporation in the state of Illinois must have a registered agent, who will act as a representative to receive legal documents and correspondence on behalf of the corporation. The registered agent can be an individual residing in Illinois or a corporation authorized to conduct business in the state.
Step 4: File the Articles of Incorporation
Once you have completed the Articles of Incorporation, you are ready to file them with the Illinois Secretary of State. You can do this by mail, online, or in person. The filing fee must be paid at the time of submission, and the fee amount varies depending on the type of business entity you are forming.
Filing by mail: Print out the completed Articles of Incorporation and mail them, along with the required filing fee, to the office address of the Illinois Secretary of State.
Filing online: You can file the Articles of Incorporation electronically through the Secretary of State's website. This is the fastest and most convenient option.
Filing in person: If you prefer, you can visit the Illinois Secretary of State's office and file the Articles of Incorporation in person. Remember to bring the required documents and payment.
Step 5: Obtain an Employer Identification Number (EIN)
After filing the Articles of Incorporation and receiving confirmation from the Illinois Secretary of State, you should obtain an Employer Identification Number (EIN) from the IRS. An EIN is necessary for opening bank accounts, hiring employees, and fulfilling tax obligations. You can apply for an EIN online through the IRS website.
Congratulations! You have successfully filed the Illinois Articles of Incorporation, and your corporation is now registered with the state. Remember to keep copies of all the documents for your records, as they may be required for various legal purposes in the future.
Conclusion
Filing the Illinois Articles of Incorporation is an essential step in starting your business and establishing it as a legal entity in the state. By following these steps and paying attention to the details, you can ensure a smooth and successful incorporation process. Remember, it is always recommended to consult with a legal professional or advisor to ensure compliance with all the legal requirements and to make informed decisions throughout the process. Good luck with your new venture!
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