Starting your own business in Chicago can be a daunting task. Not only do you need to understand the specific laws and regulations of the state of Illinois but you must also understand the best way to structure your business for success. One of the most popular and successful ways of setting up a business is to form a limited liability company (LLC). This entity will allow you to have limited liability for the debts and obligations of your business and provide you with great flexibility when it comes to taxation.

Even if you have the necessary knowledge to start an LLC in Chicago, you may think that the cost of hiring a lawyer or accountant prohibitive. Here is the good news: with the new technologies available, such as UpCounsel, the process of forming an LLC in Chicago has been made much easier and cheaper. In this article, we will discuss the details of what is needed when forming a LLC in Chicago and the help available from UpCounsel's experienced lawyers.

What Is An LLC?

A limited liability company (LLC) is a relatively new form of business entity that is becoming popular among entrepreneurs in the US. It combines the characteristics of a corporation with the tax benefits of a partnership. It provides limited liability to its owners for the debts and obligations of the LLC while giving them great options for taxation.

An LLC is a separate legal entity like a corporation. This means that its owners are not personally liable for the debts and obligations of the LLC. It also protects its owners from being held personally liable for any legal disputes that may arise from their business activities, such as personal injury claims and breach of contract cases.

How To Form An LLC In Chicago

Forming an LLC in Chicago is a relatively straightforward task. The process will start by registering with the Illinois Secretary of State's Office. This can be done online or in person. Once the LLC is registered, you will need to file certain documents, such as an Articles of Organization and Operating Agreement, with the Secretary of State's Office. You will also need to comply with certain state regulations, such as obtaining a registered agent and filing for taxes.

Help Is Available From Experienced Lawyers At UpCounsel

If you are starting an LLC in Chicago, you may want to consider hiring a lawyer or accountant to help you out. There are numerous lawyers and accountants who specialize in business law and who will be able to provide great advice on how to best structure your business.

However, with UpCounsel, you no longer need to worry about hiring an expensive lawyer or accountant. UpCounsel's network of experienced lawyers have an average of 14 years of experience and can provide you with high quality, cost-effective legal services.

UpCounsel has numerous attorneys who specialize in business law and who can help you get started on the right foot. They will be able to provide advice on the best structure for your LLC, how to set up the LLC, file for trademarks, obtain financing, and handle other matters related to the formation of your business.

Concluding concepts

Forming an LLC in Chicago is a great way to protect yourself from liabilities and protect your personal assets. With UpCounsel's experienced attorney community, you can have access to high quality, cost-effective legal services without having to worry about hiring an expensive lawyer or accountant. Before taking the plunge and setting up your LLC, make sure to consult with UpCounsel's experienced lawyers and have all of your questions answered.


LLC formation,

LLC in Chicago,

Illinois LLC