Illinois business filing
Illinois S-Corporation Election & PPRT Setup
IRS Form 2553 & IDOR Form IL-1120-ST · IRC § 1362 & 35 ILCS 5/201 · $0 state + $149 service = $149 total. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Last content review: October 28, 2026
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- Illinois 805 ILCS 180 & 805 ILCS 5 statutory references
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What to know before you file
IRS Form 2553 & IDOR Form IL-1120-ST
IRS Form 2553 & IDOR Form IL-1120-ST · IRC § 1362 & 35 ILCS 5/201 · $0 state + $149 service = $149 total. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Official source: Illinois Secretary of State — Department of Business ServicesState and local compliance
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.
Official source: Illinois General Assembly — 805 ILCSFrequently asked questions
IRS Form 2553 & IDOR Form IL-1120-ST · IRC § 1362 & 35 ILCS 5/201 · $0 state + $149 service = $149 total. $149 total; 1.5% PPRT and optional 4.95% PTE election review.
Official source: Illinois Secretary of State — Department of Business ServicesNo. Check municipal licenses, MyTax Illinois registration and professional approvals before operating.
Official source: Illinois state agencyYour next chapter. In Illinois.
Corp USA is not a law firm and does not provide legal advice.