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Illinois Business Formation Questions & Answers
1 Answer | Asked in Business Formation for Illinois on
Q: I'd like to start a small business in the form of a wellness center. What kind of ownership structure would I need?

The wellness center would focus on physical fitness and recovery but would also hope to drive a lot of community value by being very active with the locals in terms of volunteering and events. It would ideally be a holistic approach to serving the community as well as the members themselves. I want... View More

Jennifer Newton
Jennifer Newton
answered on Jun 12, 2024

Choosing the right ownership structure is crucial for both the success of your wellness center and your personal and financial interests. Here are a few options to consider:

Sole Proprietorship: As the sole owner, you would have complete control over the business. This structure is simple...
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1 Answer | Asked in Business Formation for Illinois on
Q: Can you please help me understand if my company requires foreign llc formation

-Business Owners/Cofounders: 3

-Business Nature: Online digital marketing agency offering online services, no physical locations, completely remote work

-Business Owner Locations: Florida, California, Ohio

Jennifer Newton
Jennifer Newton
answered on Jun 12, 2024

To better understand whether your company requires foreign LLC formation, we need to clarify what you mean by "foreign LLC." In general, a foreign LLC refers to an LLC that is registered to do business in a state other than the one in which it was originally formed.

Here are a few...
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1 Answer | Asked in Business Formation and Cannabis & Marijuana Law for Illinois on
Q: Can a person start a small thc edibles business in Illinois?

Is it possible for a person to have a legal business similar to a cottage food license in Illinois for selling edibles containing THC?

Jennifer Newton
Jennifer Newton
answered on Jun 8, 2024

Starting a THC edibles business in Illinois requires obtaining an infuser license from the Illinois Department of Financial and Professional Regulation (IDFPR). THC edibles cannot be produced under a cottage food license due to stricter regulations. Compliance involves ensuring product testing,... View More

1 Answer | Asked in Business Formation, Copyright and Intellectual Property for Illinois on
Q: If I create a non canon character in a canon universe. Can I be held liable?

Example: I want to create a character to use commercially in the Invader Zim universe, without using any of the main characters or storylines.

T. Augustus Claus
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answered on Jan 3, 2024

Creating a non-canon character within an existing universe, such as in the Invader Zim universe, generally falls under the realm of fan fiction or fan-created content. However, the legal implications of using such a character commercially can be complex and may depend on various factors, including... View More

2 Answers | Asked in Immigration Law, Business Formation and Business Law for Illinois on
Q: I am in h1b and my Wife is on h4 ead , we would like to start a business. I would like to know if we can establish a LLC

Is it legal and from immigration and tax perspective what are things we need to make sure that we are compliant with law.

James L. Arrasmith
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answered on Oct 18, 2023

Being on an H1B visa, you can establish or invest in an LLC; however, you cannot actively manage or work for the business without proper work authorization specific to that role. Your wife, on an H4 EAD, can legally work for and manage the LLC since she possesses employment authorization. Ensure... View More

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2 Answers | Asked in Immigration Law, Business Formation and Business Law for Illinois on
Q: I am in h1b and my Wife is on h4 ead , we would like to start a business. I would like to know if we can establish a LLC

Is it legal and from immigration and tax perspective what are things we need to make sure that we are compliant with law.

T. J. Jesky
T. J. Jesky
answered on Oct 15, 2023

Yes, you can start a LLC in your particular State. The two are not related. In fact, if you lived and were a resident of a foreign country, you can open an LLC in the U.S. You would list yourself and your foregin address, but you would need a resident agent in the State where the LLC is opened.

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1 Answer | Asked in Consumer Law, Banking, Business Formation and Business Law for Illinois on
Q: Is there anything you can do if the lender applies the payment to the principal but does not bring down the balance?
James L. Arrasmith
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answered on Mar 2, 2023

If you believe that your lender has incorrectly applied a payment to the principal without properly bringing down the balance, you should contact your lender directly to discuss the issue and request an explanation. It is possible that there may have been a mistake or a misunderstanding that can be... View More

1 Answer | Asked in Contracts, Business Formation and Business Law for Illinois on
Q: We sold our small business with a promissory note to receive payment after one year. Now they won't pay

The pastor has experienced financial difficulty. They have not filed for bankruptcy, however they have received funding from an investment group. The promissory note reads,This Promissory Note shall become due and payable prior to maturity without presentation, demand, protest or notice of any... View More

Bryan R. Bagdady
Bryan R. Bagdady
answered on Jan 7, 2024

If a written promissory note, signed by the parties, is not paid when due, then the holder of the note may make demand or commence suit. In your case, if the borrower is not offering some other or new solution, it sounds like it is time to commence suit.

2 Answers | Asked in Business Formation and Business Law for Illinois on
Q: Do we need to refile articles of incorporation or any other business docs when applying for NFP status for a for-profit

business. Business has been around for 37 years. We want to apply for 501c3 status to diversify our income and open up our services to more contracts and help more people. Currently, mostly are federal grants and we haven't earned profit in years.

T. J. Jesky
T. J. Jesky
answered on Sep 13, 2022

This may be easier than you think. If you want to convert a profit corporation to a non-profit organization all you need to do is complete Illinois Form EOA 205 (provided by the Illinois Secretary of State- a one page form) and send two copies of the completed form to the Secretary of State with... View More

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2 Answers | Asked in Business Formation, Employment Law and Social Security for Illinois on
Q: Can i form an llc for my future box truck business while receiving benefits?

am currently 33yrs old.

Three years ago I was driving semi trucks . Stopped due to multiple surgeries (non-work-related).

Currently on Government Benefits.

Temporary Social security disability

Now present time.

Im close to being fully recuperated so its... View More

T. J. Jesky
T. J. Jesky
answered on Sep 11, 2022

The short answer is: Yes. Go ahead and form the LLC. Let it sit until you are ready to make use of it. Unless there is something you have not disclosed, I don't see how forming a LLC will affect your benefits. However, once income starts flowing through your LLC, it may or may not affect... View More

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1 Answer | Asked in Business Formation and Business Law for Illinois on
Q: What do u need to start a compay? What’s a LLC and how can u get one

What would I need in order to open a taco truck and sell food.

David Luther Woodward
David Luther Woodward
answered on Aug 26, 2022

The first thing you need is a lawyer. You need a lawyer that represents small business who can guide you through the hurdles of setting up an LLC, obtaining permits and licenses, and all the stuff that goes along with being in business.

Good Luck

d

1 Answer | Asked in Bankruptcy, Business Formation, Business Law and Civil Rights for Illinois on
Q: I started a nail salon with someone. She didn’t have money to start it so I let her borrow from me but we didn’t make a

We didn’t make a contract. We worked for a month and a half now but we fell into a disagreement and she left and won’t respond to my calls. I’ve been working alone without even paying myself. How do I proceed from here when she won’t respond to any of my messages and calls.

Timothy Denison
Timothy Denison
answered on Jan 26, 2022

If there’s no agreement, just move forward as if the salon is yours. She has no interest since she provided no investment.

1 Answer | Asked in Business Formation and Business Law for Illinois on
Q: Can I change the name of my current LLC and later reopen a new LLC with my current name?

Can I change the name of my current LLC and later reopen a new LLC with my current name? Or would the name be unavailable? Example: changing my current LLC named "Blue" (that sells clothes) into a new name "red" (and be a completely different business model). In a couple years... View More

Joseph B. LaRocco
Joseph B. LaRocco
answered on Nov 2, 2021

The simple answer is "Yes", as long as that name is still available and no one else has taken it. Once you change the name from Red to Blue, the name Red will be available and someone else might take it. Some states allow you to reserve a company name for a fee. For instance, Delaware... View More

1 Answer | Asked in Business Formation, Business Law and Cannabis & Marijuana Law for Illinois on
Q: I want to start a cannabis business but licensing is too expensive in Illinois, how legal is it to sell cannabis clones

What is a Cannabis clone? A cannabis plant that is a genetic copy of the mother plant. When obtained from a reputable breeder, a clone is a young female cannabis plant with stable genetics. Growers typically select to raise clones instead of seeds when they would rather not risk getting a plant... View More

Alexander Ivakhnenko
Alexander Ivakhnenko
answered on Sep 16, 2021

No, it would not be legal as the State of Illinois requires a very strict licensing, regulation, and eligibility for any cannabis and its derivatives operation in the state.

Besides, such operation does not qualify as a Sec. 503 non-for profit entity as it would be geared towards profit...
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1 Answer | Asked in Business Formation and Copyright for Illinois on
Q: I buy throw pillow covers (Amazon and Walmart) and enhance the imagery and sell them. Am I infringing on a copyright
Marcos Garciaacosta
Marcos Garciaacosta
answered on Sep 12, 2021

depends

It is not clear what you intent to do, you should consult with an attorney

1 Answer | Asked in Contracts, Copyright, Business Formation and Business Law for Illinois on
Q: US company refuses to Pay or give ownership. They are blackmailing me now.

In 2018, I went into an oral agreement with a person in the United States to build an online platform. I was responsible for all the tech from designs to coding etc. I live in Pakistan, we had this agreement orally over zoom.

He promised equity and delayed payment for my work. We agreed... View More

Marcos Garciaacosta
Marcos Garciaacosta
answered on May 23, 2021

You can sue him but it will be complicated and expensive

You may be able to sue in your country or in the USA

You should consult with an attorney to determine your options

1 Answer | Asked in Business Formation for Illinois on
Q: Is it legal to do aerial photography and 3d photogrammetry using a drone in IL to provide visual updates for client

I am not looking to give precise measurements, just visual inspections. Ideally would like to make this my business. I am achieving the part 107 license to fly commercially. Thus I am aware of the airspace restrictions. I am wondering about the legality of the above case.

T. J. Jesky
T. J. Jesky
answered on Nov 27, 2020

This is a good question. First, if you are law enforcement, the Illinois statutes give you authority to fly the drone almost anywhere. But, since your not law enforcement, you are somewhat restricted. The law states that you cannot use a drone to interfere with hunters or fisherman. A number of... View More

2 Answers | Asked in Business Formation, Business Law and Contracts for Illinois on
Q: I am starting a in home music lesson business and I wonder if I can hire all the teachers as independent contractors

It will be teachers from major cities in different state. I wonder if they can be independent contractors instead of employees

I set up a website with paid ads that matches teachers who are looking for students with families looking for teachers to teach their kids at home. The teachers are... View More

T. J. Jesky
T. J. Jesky
answered on Nov 16, 2020

The question of whether someone is an employee or independent contractor comes down to "control."

Additionally, the Internal Revenue Service uses a right-to-control test to assess a business' tax liability.

For example, if these musicians had specific hours of work,...
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1 Answer | Asked in Business Formation and Business Law for Illinois on
Q: If I want to start an arcade rental business. Will it be considered illegal in any way. I would be purchasing the arcade

Technically i would own the arcade and would just be providing a rental service for those who are interested

T. J. Jesky
T. J. Jesky
answered on Oct 30, 2020

Arcade means an establishment that has five or more coin/token or other modes of activation operated amusement devices in an area dedicated to the housing of coin-operated amusement devices. Keep in mind, no alcoholic beverages may be sold or consumed in the area separate and designated as arcade.... View More

1 Answer | Asked in Business Formation for Illinois on
Q: I have a small business building furniture since 2018, I have not registered as a business but wanted to know

If I qualify for the SBA loan and grant program

George W. Svoboda
George W. Svoboda
answered on Jun 29, 2020

Possibly. You need to prove what your payroll cost was for the last 12 months.

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