Illinois individual and elective pass-through entity tax is 4.95%; multi-member partnership LLCs and S-corporations pay 1.5% Personal Property Replacement Tax (PPRT). C-corporations pay 7.0% income tax plus 2.5% PPRT = 9.5%. The first $1,000,000 of corporate franchise-tax liability is exempt under 805 ILCS 5/15.35; the $75 annual report fee still applies. Taxable income, apportionment, deductions and federal rules need adviser review. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Illinois General Assembly — 805 ILCS ↗Illinois Secretary of State — Department of Business Services ↗Illinois statutory references supplied for the October 28, 2026 review; confirm current official instructions.
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- Illinois 805 ILCS 180 & 805 ILCS 5 statutory references
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Start with the right question.
Filing and legal basis
Illinois individual and elective pass-through entity tax is 4.95%; multi-member partnership LLCs and S-corporations pay 1.5% Personal Property Replacement Tax (PPRT). C-corporations pay 7.0% income tax plus 2.5% PPRT = 9.5%. The first $1,000,000 of corporate franchise-tax liability is exempt under 805 ILCS 5/15.35; the $75 annual report fee still applies. Taxable income, apportionment, deductions and federal rules need adviser review. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Illinois General Assembly — 805 ILCS ↗Annual Illinois compliance
Illinois Annual Reports (Form LLC-50.1 under 805 ILCS 180/50-1; Form BCA 14.05 under 805 ILCS 5/14.05) are due before the first day of the anniversary month: the last day of the previous month. The window opens 60 days before that first day. $75 state + $99 service = $174; nonprofits use Form NFP 114.05 ($10 + $99 = $109). Series LLCs add $50 per active registered series. LLCs incur a $100 late penalty after 60 days; 180 days without filing triggers an administrative-dissolution warning. Reinstatement uses Form LLC-35.40 or BCA 12.45: $200 state + $299 service plus back reports and penalties.
Illinois Secretary of State — Department of Business Services ↗Statewide vs. local requirements
LLC formation requires no newspaper publication. Statewide LLC/corporation assumed names use Form LLC-1.20 / BCA 4.15 with zero newspaper publication. Sole proprietors and general partnerships register with the County Clerk under 805 ILCS 405/1 and publish once each week for three consecutive weeks; confirm filing, publication and proof deadlines with the clerk.
Illinois General Assembly — 805 ILCS ↗Your preparation checklist
- Confirm entity type and Illinois eligibility
- Check ILSOS entity name and existing status
- Confirm the filing form, state fee and service quote
- Maintain an Illinois registered agent and physical registered office
- Retain stamped filings and governing records
- Calendar the anniversary-month report and applicable IDOR/IRS filings
Illinois $1,000,000 Franchise Tax Exemption
Illinois $1,000,000 Franchise Tax Exemption
Illinois Entity Tax & 1.5% PPRT
IL individual income tax (4.95%)
$7,425
Personal Property Replacement Tax
$0
Combined Illinois estimate
$7,425
Illustrative federal SE tax (15.3%)
$22,950
35 ILCS 5/201(p). Simplified estimates, not tax advice: federal SE/FICA caps, deductions, apportionment, shareholder basis and SALT eligibility are not modeled. PTE savings assume the full elected payment yields an additional federal deduction; actual benefit may be lower or zero. Salary must be reasonable.
Keep the requirements separate.
| Requirement | Rule / confirmation needed | Official authority |
|---|---|---|
| Filing and legal basis | Illinois individual and elective pass-through entity tax is 4.95%; multi-member partnership LLCs and S-corporations pay 1.5% Personal Property Replacement Tax (PPRT). C-corporations pay 7.0% income tax plus 2.5% PPRT = 9.5%. The first $1,000,000 of corporate franchise-tax liability is exempt under 805 ILCS 5/15.35; the $75 annual report fee still applies. Taxable income, apportionment, deductions and federal rules need adviser review. $149 total; 1.5% PPRT and optional 4.95% PTE election review. | Illinois General Assembly — 805 ILCS ↗ |
| Annual Illinois compliance | Illinois Annual Reports (Form LLC-50.1 under 805 ILCS 180/50-1; Form BCA 14.05 under 805 ILCS 5/14.05) are due before the first day of the anniversary month: the last day of the previous month. The window opens 60 days before that first day. $75 state + $99 service = $174; nonprofits use Form NFP 114.05 ($10 + $99 = $109). Series LLCs add $50 per active registered series. LLCs incur a $100 late penalty after 60 days; 180 days without filing triggers an administrative-dissolution warning. Reinstatement uses Form LLC-35.40 or BCA 12.45: $200 state + $299 service plus back reports and penalties. | Illinois Secretary of State — Department of Business Services ↗ |
| Statewide vs. local requirements | LLC formation requires no newspaper publication. Statewide LLC/corporation assumed names use Form LLC-1.20 / BCA 4.15 with zero newspaper publication. Sole proprietors and general partnerships register with the County Clerk under 805 ILCS 405/1 and publish once each week for three consecutive weeks; confirm filing, publication and proof deadlines with the clerk. | Illinois General Assembly — 805 ILCS ↗ |
Carry the decision forward.
Corp USA is not a law firm and does not provide legal advice. State fees are pass-through. Service fees and taxes are separate. Review the order price before payment.
Before your next step
Illinois individual and elective pass-through entity tax is 4.95%; multi-member partnership LLCs and S-corporations pay 1.5% Personal Property Replacement Tax (PPRT). C-corporations pay 7.0% income tax plus 2.5% PPRT = 9.5%. The first $1,000,000 of corporate franchise-tax liability is exempt under 805 ILCS 5/15.35; the $75 annual report fee still applies. Taxable income, apportionment, deductions and federal rules need adviser review. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Illinois General Assembly — 805 ILCS ↗Illinois Annual Reports (Form LLC-50.1 under 805 ILCS 180/50-1; Form BCA 14.05 under 805 ILCS 5/14.05) are due before the first day of the anniversary month: the last day of the previous month. The window opens 60 days before that first day. $75 state + $99 service = $174; nonprofits use Form NFP 114.05 ($10 + $99 = $109). Series LLCs add $50 per active registered series. LLCs incur a $100 late penalty after 60 days; 180 days without filing triggers an administrative-dissolution warning. Reinstatement uses Form LLC-35.40 or BCA 12.45: $200 state + $299 service plus back reports and penalties.
Illinois Secretary of State — Department of Business Services ↗