How Long Does It Take to Form an LLC in Illinois?

Illinois has a healthy economy and booming job market, making it an appealing state for many new businesses. If you are concerned about the challenges that may come up in forming an LLC, rest assured that the process is surprisingly straightforward. All that is required is to fill out some paperwork, pay a fee, and wait while the state approves your LLC formation application.

Illinois’ LLC approval process takes 3-4 weeks for mail-in filings and 7-10 days for online filings. The following article will take you through the approval process for Illinois LLCs and the timeline of what your paperwork will undergo.

We recommend using a professional LLC formation service to handle your business’s formation paperwork so you can focus on what matters most — running your business.

Illinois LLC Approval Time

When you are submitting your application, approval time refers to the total time it takes you to receive your approval from the state. Approval time includes any time taken for documents traveling if filed by mail as well as however long it takes for the state to process and enter the information into their system. Online filing negates travel time, so it has a shorter approval time than mail filing.

Illinois LLC Processing Time

While approval time covers the entirety of the timeline, processing time refers to the handling time of your documents by the state and entry into their records. You can mail your paperwork to the Illinois Secretary of State or submit it with their Articles of Organization formation portal online. Processing time varies on the method you use to file:

• Online: 7-10 business days
• By mail: 10-15 business days

Since processing time does not include document transit time, the approval time is a better way of determining how long the entire process will take from submission to LLC approval.

Expedited Filing for an Illinois LLC

Illinois offers expedited filing for both mail-in and online submissions. In addition to the $150 filing fee, filers can pay an additional $100 to drop the processing time down to 24 hours. So if you are looking to speed up the process, the cost will be $250.

How Much Does It Cost to Start an LLC in Illinois?

Filing your Articles of Organization in Illinois will cost you a $150 filing fee. Those paying by check should make it out to the Illinois Secretary of State.

As mentioned above, paying an additional $100 can expedite the processing period down to 24 hours which may be a worthwhile investment if you are trying to get your LLC started as soon as possible.

LLC Formation Service

LLC formation services can be hired to file your formation paperwork on your behalf so you can avoid the paperwork yourself. By contracting a service like this, you will get a professional to fill out and file your paperwork, so you know it will be completed correctly the first time, but know that they cannot speed up the filing process at all. Also, if you are worried about using your private address, many formation services will let you use their address instead when filing.

Read our LLC Formation Services Review to learn more

Should I Form an LLC in Illinois?

LLCs are formal business structures that provide owners with limited liability protection and pass-through taxation. An LLC status may be beneficial for your potential Illinois business, and Illinois has many benefits for a new LLC.

Low Cost of Living

Illinois enjoys a rather low cost of living when compared to the rest of the United States. On average, the cost of living is about 5% lower than the national average. Chicago is the outlier, but it still has a cost of living below the average nationwide. With a lower overall cost of living, the cost of running your LLC will be lower as well, helping keep your business endeavor afloat.

Healthy Economy

Being a large state and housing one of the largest cities in the county, Illinois has a strong economy. A main contributor to this is Chicago which has seen a consistent increase in tourism since 2020 and accounts for over 70% of the state’s total revenue. The average salary in Illinois is higher than the national average, so it may be worthwhile to consider setting up your LLC in Illinois.

Large Job Market

In tandem with the bustling economy, Illinois has a large and sustained job market with consistent opportunities for new employment and new businesses popping up regularly. As to be expected, a large amount of these new businesses come from and start in Chicago, which has a strong network of local and small businesses. If the big city atmosphere seems exciting, you should think about starting your LLC in the region.