Updated over 8 years ago on . Most recent reply
Series LLC in Illinois
I'm looking for information on Series LLC's, or maybe clarification. The way I understand it, a regular LLC in Illinois: $500 setup Articles of Organization, $250 annual fee, all properties within LLC are vulnerable to the others.
Series LLC: $750 setup Articles of Organization + $50 for each additional series, $250 annual fee, only properties within each series are vulnerable to one another. The application says the Series name must contain the entire LLC name and be distinguishable from the other names in the series. (ABC Rentals 1, ABC Rentals 2...??). Am I understanding correctly?
Most Popular Reply
@Shawn H. You are correct with the exception of the fees. The legislature FINALLY decided to reduces the costs to make IL competitive to the nation at large as they saw people from IL fleeing to other states for cost savings. Effective 12.24.17 the cost for a VANILLA LLC is $150 to establish and a SERIES LLC is $400.
I do not know what the NEW annual fee will be for either as I have not seen pricing or literature on this just yet. PM me if you want more information.
@Jon Hundley feel free to contact me if you need assistance.