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Righter praises Governor for signing bill slashing filing costs for small businesses

State Sen. Dale Righter praised Gov. Bruce Rauner for signing legislation that substantially reduces startup, annual filing and other fees for limited liability companies (LLCs), the organizational structure preferred by many of Illinois’ 1.2 million small businesses.

The new law will encourage more businesses to form in Illinois rather than go to other states to escape high fees. Effective today, the filing fee for new LLCs drops to $150 from $500 and annual report fees drop to $75 from $250. Previously, Illinois charged fees that were among the highest in the nation.

“If we are serious about recruiting new businesses and creating new jobs for this state, it’s reforms like this that will help,” Righter said. Illinois had some of the highest fees in the country for LLC’s, discouraging start-up businesses from choosing Illinois. This simple reform will have a positive impact on our economy and local communities. While a lot more can be done to help Illinois grow, this is a major first step that can slowly turn Illinois’ fiscal and economic ship around.

“This is a step in the right direction for our small businesses,” Rauner said. “The new rates are more competitive with other states. By easing the fee burden for LLCs here, we are sending a message to entrepreneurs and small business owners in Illinois: Start here and stay here.”

The governor signed the bill in the presence of dozens of small business advocates gathered at Level Office, an LLC that provides shared office space for startups. Level Office began in Chicago and now has facilities across the country.

Some of the fee changes include:





LLC Filing Fee






Reserved Name Application



Annual Report






Name Transfer



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