Corporations
Forming a Nevada corporation instead
A Nevada corporation files Articles of Incorporation, with a fee that scales with its authorized stock, plus an initial and annual list naming the president, secretary, treasurer and every director, with addresses (NRS 78.150).
The state business license is $500 a year for a corporation, not the $200 an LLC pays (NRS 76.100).
We file corporations too. Pro and Premium include bylaws and initial corporate documents.
Taxes and publication
Nevada income tax and publication
The Nevada Department of Taxation states that Nevada does not impose a state income tax on individuals.
Businesses with Nevada gross revenue over $4 million in a fiscal year pay the Commerce Tax.
Publication: Nevada has no newspaper publication requirement for LLCs.
Operating in Illinois
Foreign qualification: register where you operate
Forming in Nevada does not take your company out of Illinois. If your Nevada company has an office, staff or regular operations in Illinois, it generally has to register in Illinois as a foreign company before it does business here. For an LLC that is the Application for Admission to Transact Business, and the Illinois fee is $150, the same as forming a new Illinois LLC.
After that you pay both states every year: Nevada's own annual costs plus the Illinois annual report, $75 for an LLC. You also need an Illinois registered agent with a street address here. That is the double cost most Illinois founders do not see coming, and it is why a business that only operates in Illinois is usually better off with an Illinois LLC.
If you do form in Nevada and operate here, we can be your Illinois registered agent from our staffed office in Chicago.