Small Business Filing Costs Decrease

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by Paul J. Rozek, CPA, CFP | Selden Fox

Public Act 100-0571 significantly decreases the filing costs for Illinois small businesses. With the implementation of the signed legislation, limited liability companies (LLCs) will benefit from a reduction in startup, annual, and other LLC filing fees. The fee changes include the following, among others:

Item

Prior to SB 867

Current
LLC Filing Fee $500 $150
Reinstatement $500 $200
Reserved Name Application $300 $25
Annual Report $250 $75
Amendments $150 $50
Name Transfer $100 $25

Paul Rozek, CPA, CFP

Paul provides tax research, consulting and compliance services to closely held businesses, tax-exempt organizations, individuals and fiduciaries. As a reviewer in the tax department, Paul is experienced in the preparation and review of all tax returns, including Forms 990 and 990-T. His clients include family offices, private foundations, trade associations, charitable organizations, schools, credit unions and other non-profit entities.