![]() You can calculate your Illinois franchise tax using either one of two methods: the allocation factor or paid-in capital. Corporations will still need to file their annual reports, but the accompanying franchise tax filing will no longer be required. As of 2024, this Illinois franchise tax will end. NOTE: The state’s franchise tax is slowly being phased out. ![]() Your franchise tax calculation and payment (if applicable) should be included in your annual report filing. The Illinois Franchise Tax is an annual tax for corporations that conduct business in Illinois. When your annual report is ready to submit, you can send it to: Limited Partnerships (domestic and foreign) If filing by mail, here are the forms you’ll need to use: Entity Type On the following page, you’ll see a link to the online annual report. To file your annual report online, go to the state’s Business Services page and select your entity type. LLCs that have been administratively dissolved or revoked.Corporations with changes in the number of authorized shares, issued shares and/or paid in capital.Corporations with seven or more officers/directors.But the following entities must file their annual report using paper forms: In most cases, you’ll be able to file your Annual Report either online or by mail. (See the steps for How to Calculate Illinois Franchise Tax below for details.) Only corporations-both foreign and domestic-are subject to Illinois’s franchise tax. When we’re your Illinois registered agent, we’ll send you notification that your annual report is available for filing, and give you the option to file it yourself or have us file it for you. For example, if you originally formed an Illinois LLC on May 16th, the last day to file your report would be April 30th each year.Īlso, an annual report notice will be sent to your registered agent each year. Your report is due before the first day of your company’s anniversary month. Domestic and foreign Limited Partnerships: $100Ĭorporations also must pay any franchise tax owed. ![]() Domestic and foreign LLCs and corporations: $75.The filing fee varies depending on the business type: How much does the Illinois Annual Report cost to file? You can find your entity’s business file number by visiting the Illinois Department of Business Service’s Corporation/LLC database. NOTE: If you’re filing an annual report for a corporation, you’ll also be asked to include corporate stock information and your franchise tax calculation. Signature, title and name of person filing report.Names and addresses of officers/directors (corporations) or members/managers (LLCs).Date of formation or registration in Illinois.The information you’ll have to provide includes: It’s a way for the state to ensure that information about your business is current. CEO address and contact information: A person with authority to act on behalf of the LLC, such as a CEO, must sign the annual report.The Illinois Annual Report is a form business owners in Illinois must file each year to maintain good standing with the state.Your LLC state reference number: You should have received a number from the Illinois Secretary of State when you formed the LLC or registered it as a foreign business entity.LLC EIN number: You might need the employer identification number (EIN) that you obtained from the IRS.You cannot use the annual report to change the registered agent or registered office. Registered agent contact information: You must provide the name and address of the registered agent.The business purpose and industry: You may need to provide a brief summary of what your LLC does.This may consist of members, managers, or a combination of both. Names and addresses of members and/or managers: The annual report should identify the individuals or businesses with the authority to manage the LLC’s operations.Primary business address: You must provide a street address.You do not need to include a DBA or other assumed name. LLC business name: This is the official legal name of the business.
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