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business entity regulations

Business Entity Regulations

I need help to start preparing a 350-word description of business entity regulations in Illinois as they pertain to an organization with which you are familiar. Be sure to include the following

a. Identify the business formation code(s) in Illinois.
b. Identify the address of Illinois corporation commission.
c. Describe the process for obtaining an "annual filing report" for a corporation currently registered Illinois.

Use the internet as your primary method of research. Be sure to list the websites

Solution Preview

I will cover the business entity regulations related to a Limited Liability Corporation or LLC. The Secretary of State's Department of Business Services serves as an approval and record-keeping office for limited liability companies in Illinois. Generally, a limited liability company's existence begins when the Department of Business Services has "filed" the Articles of Organization.

The Illinois Limited Liability Company Act provides that you may choose a name so long as it is distinguishable upon the records of the Secretary of State from any domestic or foreign limited liability company name or assumed LLC name, any domestic or foreign corporate name or assumed corporate name, or a name that is currently reserved or registered with the Secretary of State under either the Limited Liability Company Act or the Business ...