Q: Need guidance with creation of Series LLC in Illinois. Need to put 3 rental properties in this.
Can I create this online and file with the state? What do I have to do? I have Hyatt Legal Plan but that does not cover this. Any guidance will be sincerely appreciated.
A: Yes. Go to the Illinois Secretary of State's website, business services division and you can find a lot of information there on how to create Series LLCs. There are certain steps you should take after creating them. For example, you will need a separate operating agreement for all of them, separate bank accounts, etc. You may want to reach out to an attorney to assist you. Good luck!
A:
The State of Illinois could not make it easier to form a LLC. Go to the link:
https://www.cyberdriveillinois.com/departments/business_services/organization/llc_instructions.html
At the bottom of the page on this link, hit the button that says "File." You will be asked a number of
questions, which will guide you through the process. At the end of all of the questions, you submit
your filing and pay your fee, and the LLC will be formed by the Illinois Secretary of State.
I believe the filing fee to form an LLC in Illinois is $150. It takes about two week to process. If you
are in hurry, you can pay an additional $100 as an expedite fee,, and it will be formed in less than
24 hours.
Before you go the link above, let me suggest you search LLC's on the Secretary of State's website,
to make sure that no one has already registered an LLC under to name your want.
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