Starting a new business in Illinois is much more complicated than choosing a name and opening your doors. One of the most important – yet often overlooked – issues involves selecting the most beneficial legal structure. In many cases, the Limited Liability Company (LLC) offers the best balance between tax efficiency, flexibility, and liability protection.
The Illinois Limited Liability Company Act (805 ILCS 180/) provides new business owners with information on filing rules, fees, and management requirements for an LLC. An experienced DuPage County, IL business formation lawyer can guide you through the process, whether you are forming your first startup or converting an existing sole proprietorship. Understanding how LLCs in Illinois work can help you avoid costly mistakes down the line.