SBAC Initiative to Lower LLC Fees Gains Momentum
Governor Quinn Proposes Lowering LLC Fees
CHICAGO (January 29, 2014) – The Small Business Advocacy Council
(SBAC) praised Illinois Governor Pat Quinn for his commitment at todayâ€™s State of the State address to lowering Illinois LLC filing fees from $500 to $39.
â€œLowering LLC fees is a wise investment in our stateâ€™s long-term economic prosperity,â€ said Elliot Richardson, SBAC CEO. â€œBy proposing to lower these fees, the Governor has demonstrated a commitment to improving the environment for our stateâ€™s small business community.â€ The SBAC has been advocating for lower LLC fees for over a year to encourage small business growth, as Illinois LLC fees are among the highest in the nation.
The SBAC is leading the Coalition for Lower LLC Fees made up of over 30 business groups representing thousands of business owners and advocates across the state. The SBAC is working with State Representative Carol Sente (Vernon Hills) and State Senator Heather Steans (Chicago) who are sponsoring legislation to lower LLC fees, which has received strong bipartisan support.
â€œSmall businesses are so valuable to Illinois’ economy that it’s in our collective best interest to make it as easy as possible for entrepreneurs to get started,”said Senator Heather Steans.
“I believe lowering this entry barrier – one of the highest filing fees in the nation – will quickly pay for itself as new businesses sell goods and services and put spending money in their workers’ pockets.”