All That You Need To Know About Illinois Articles Of Incorporation
Illinois, the fifth most populous state in the country, is probably one of the most ideal places to start a business in. With its simple corporate structure, all that you need to know is the state-specific requirements when it comes to writing the Illinois Articles of Incorporation. The Articles of Incorporation of any organization that is just starting out is filed with the Secretary of State to give the state an idea of how the company will be ran, as well as what its corporate structure and purpose will be. In the State of Illinois, there is a sample form that you can follow when writing the Illinois Articles of Incorporation. All you need to do is include all the required items, while the other factors are optional.
The first item that is included in the sample form of the Illinois Articles of Incorporation is the Corporate Name. One of the first and most basic things that you need to think about when starting a corporation is the name which should be original meaning that no existing company should hold the same name that you would like to use. Also, it should be followed by the words Company, Corporation, or Limited or its matching abbreviated word. In the Illinois Articles of Incorporation, you should also file for the Initial Registered Agent and indicate the registered office which should not be a postal address. This is important since the corporation should have a physical address, and the registered office should operate during regular office hours.
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Another item which is important when filing for the Illinois Articles of Incorporation is the purpose by which the organization is built. You should indicate here whether the corporation is stock or non-stock, profit or non-profit, as well as its classification of being a C Corporation or an S Corporation. Basically, a C Corporation will be taxed under Chapter 1 of the Internal Revenue Code. On the other hand, an S Corporation will be taxed under subchapter S of Section 1 of the Internal Revenue Code. Also, under the Illinois Articles of Incorporation, you should include a list of the authorized share holders and the stock information. The optional information include an estimated value of the property, the names and addresses of the directors and a section for other provisions. It is recommended to have a legal professional look over the Illinois Articles of Incorporation if you have written it yourself, before filing and submitting the document to the office of the Secretary of State in Illinois just to make sure that everything is in legal order and you did not miss out on anything.
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