Required Documentation

When starting a business, there is documentation that you will be required to complete. This section will outlines some of the basic filing you will have to complete. Most of this can be completed by an attorney for a fee. But you can complete most of this yourself if you are willing to put in a little leg work. Most of the federal and state documents are available through their websites. I would advise you to seek legal counsel for items that you do not completely understand.

Federal & State Requirements
  • You will need spend a little time to research the name for your business, visit the state's Corporate Name Search database to see if the name you want is available.
  • If you are going to incorporate, you will need to file an Articles of Incorporation with the State of Illinois
  • To be recognized as a legitimate business in the state of Illinois and most of the states in the US, you will likely need to aquire a tax identification number(TIN). Getting a TIN is simple, all you need to do is log onto the IRS website and file a Federal SS4 form. Before you get a TIN you will need to establish you business structure with the State of Illinois.
  • If you plan to operate as a Small Business, you will need to file an S-Corp Election form
  • Will you need to pay sales tax or payroll? If yes, you will need to apply or a state EIN or IBT Number. Visit  https://www.revenue.state.il.us/app/ibri/. Visit the webpage on Employees for more information.
  • If you plan have employees, you will also need to get an Unemployment ID from the Illinois Department of Employment Security (IDES). Visit https://taxnet.ides.state.il.us/Login/login.aspx. Visit the webpage on Employees for more information.
  • Are there additional licensing requirements for your type of business? Be sure to visit the State of Illinois website to make sure you cover all bases.

    • County & City Requirements
  • You will most likely need to apply for a business license in the town you plan to open your business
  • Most counties in Illinois require new businesses to file a Doing Business As application