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Incorporate online in Illinois for only $89 plus State Filing Fee! The service fee includes:
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Start Your Business in Illinois |
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The advantages of incorporating or forming an LLC in Illinois:
Business incentives in Illinois
The moderate tax rates and broad tax incentives of Illinois' tax structure are designed to encourage business growth. Recognizing the importance of the employers contribution to the states overall economic well-being, Illinois' tax incentives are specifically designed to apply equally to new businesses and existing businesses. The Illinois Department of Commerce and Economic Opportunity (DCEO) offers three programs specifically designed to assist business growth by providing tax incentives:
- Economic Development for a Growing Economy (EDGE) program (Economic Development for a Growing Economy) offers tax credits that allow eligible firms to reduce business costs.
- Enterprise Zone program
- High Impact Business program
Illinois offers many tax incentives that make the state an attractive place to do business. Two tax incentives are actually written into the state's Constitution:
- Graduated tax rates are prohibited, that is Illinois' personal and corporate income taxes are flat rate taxes.
- Corporate income tax rate is linked to the personal income tax rate as insurance against arbitrary increases.
Other incentives include:
- Income apportionment is based solely on in- state sales.
- Corporations with more than 80 percent of their payroll and property outside the U.S. are not included in combined returns.
- Corporations with unique apportionment formulas are not included in combined returns.
- Credit for investment in mining, manufacturing or retailing.
- Additional tax credit if employment increases over 1 percent.
- Additional investment tax credit and jobs tax credit in Illinois Enterprise Zones.
- The EDGE program provides credit for new or expanding businesses after added employees.
- Dividends paid by corporations operating in an Illinois Enterprise Zone and interest on loans to Enterprise Zone businesses are deductible.
- There are no local corporate income taxes in Illinois.
- Food and drugs are taxed at the reduced rate
llinois has a number of tax exemptions:
- Manufacturing machinery, replacement parts and computers used to control manufacturing machinery
- Farm machinery
- Building materials bought in and used in an Illinois Enterprise Zone
- Materials consumed in the manufacturing process in Illinois Enterprise Zones
Forming an LLC in Illinois
- Low entity level tax on LLCs
- Tax filing form IL-1065 due April 15
- Composite filing available
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Incorporate in Illinois
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Form a Corporation (INC.) in Illinois.
Be the president of your corporation! Incorporate your business now. |
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Form an LLC in Illinois
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Form a Limited Liability
Company (LLC.)
Protect your assets forming a legal entity which limits your liability in Illinois!
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Start Your Business in Any State
Read detailed information on the advantages of forming a Corporation or Limited Liability Company in your state. Please click on the state you are interested in.
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