The fees associated with filing and operating a limited liability company, or LLC, in Illinois are among the highest in the nation. Forming as an LLC is the right choice for many small businesses because it provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. Lowering LLC fees to match the rates corporations currently pay to operate will help level the playing field for entrepreneurs, encourage new businesses to form in Illinois, and improve the perception of the business climate in our state.
The SBAC and our coalition of over fifty local chambers and trade organizations are engaged in a grassroots campaign to see SB 867, a bill to lower all LLC fees to match the current rates paid by corporations, signed into law. Below is a letter sent to the sponsor of SB 867, Senator Tom Cullerton, asking for the measure to be taken up during the veto session.LLC Coalition Letter FINAL