Spark Better Business
Finally, good news! On December 20, 2017, the Illinois Governor Bruce Rauner signed into law a new bill substantially reducing the filing, maintenance, and reporting fees for Illinois Limited Liability Companies ( the “LLCs”).
Although Illinois has a long way to go to make it an attractive state for the small businesses and investments, it’s clearly a step in the right direction. Illinois used to have some of the highest LLC formation and maintenance fees in the nation. Now, it will be one of the states with the lowest LLC filing and maintenance fees. This law should reduce the costs of the basic asset protection strategies, allowing the greater number of small business owners to implement the necessary estate planning and asset protection strategies.
See the summary of the new LLC filing and maintenance fees.