Quick Answer: How do I get a small business license in Illinois?

How much does it cost to get a business license in Illinois?

Business Licensing: What Do I Need?

BUSINESS SECTOR/Activity LICENSE TYPE LICENSE APPLICATION FEE / 2 YEARS
Debt Collections – Complete Requirements Regulated Business $250
Dry Cleaner Regulated Business $250
Expediter Regulated Business $250
General Retail Sales and Services Limited Business $250

How much does it cost to register a small business in Illinois?

Top 5 Tips on Registering a Business in Illinois

Forming an LLC costs $500 and a $250 annual fee. The fee for a corporation varies, but is usually $125 to start and $100 annually. Illinois offers a wide variety of business structures.

Does the state of Illinois require a business license?

There is no general state of Illinois business license, however, many cities require businesses to be licensed to operate. Rules for business registration vary depending on location and what the business does.

Is a LLC a business license?

Is an LLC considered a business license? No. An LLC is a type of business structure. While you are required to register as an LLC, it is not a business license.

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How long does it take to get a business license in Illinois?

From within MyTax Illinois, you can print your Certificate of Registration or License from the Correspondence tab if you need your certificate sooner. If you register by mail or fax, you should receive your Certificate of Registration or License in approximately 6-8 weeks.

What do I need to start my own business in Illinois?

How to Start a Business in Illinois

  1. Choose a Business Idea. …
  2. Decide on a Legal Structure. …
  3. Choose a Name. …
  4. Create Your Business Entity. …
  5. Apply for Licenses and Permits. …
  6. Pick a Business Location and Check Zoning Regulations. …
  7. Review Your Tax Registration and Reporting Requirements. …
  8. Obtain Insurance.

What is better for a small business LLC or S corporation?

What Is the Difference Between an LLC and an S Corp? A limited liability company is easier to establish and has fewer regulatory requirements than other corporations. LLCs allow for personal liability protection, which means creditors cannot go after the owner’s personal assets.

What is better LLC or sole proprietorship?

Most LLC owners stick with pass-through taxation, which is how sole proprietors are taxed. However, you can elect corporate tax status for your LLC if doing so will save you more money. … However, due to the combination of liability protection and tax flexibility, an LLC is often a great fit for a small business owner.

Do I need a business license if I have an LLC in Illinois?

Illinois does not issue business licenses at the state-level, but you may have local requirements for licenses and permits, which may be enforced at the county, city, and local level. Contact your county, city, and/or town: You’ll need to contact the county, city, and/or town where your LLC will be doing business.

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Does every business need a business license?

Almost every business needs some type of business license to operate legally in the state you are doing business in. However, each states licensing requirements differ depending on the type of business you are operating, where it’s located, and what government rules apply.