Illinois Compliance Guide
Filing requirements, deadlines, and fees for Illinois business entities.
Filing Obligations
Annual Report
AnnualIllinois entities must file an annual report before the first day of their formation anniversary month.
Before first day of anniversary month
$75 (Corporation) / $75 (LLC)
$100 penalty (Corporation) / administrative dissolution
Online or mail
Franchise Tax
AnnualIllinois has been phasing out its corporate franchise tax. As of tax year 2024, the exemption was increased to $10 million in paid-in capital, effectively eliminating it for most entities.
Filed with annual report
Being phased out — reduced to $0 as of 2024 for most corporations
Penalties apply for late annual report
Filed with annual report
Key Dates
Frequently Asked Questions
When is the Illinois annual report due?
Before the first day of the anniversary month of formation. If formed in June, the report is due before June 1.
Does Illinois still have a franchise tax?
Illinois has been phasing out the franchise tax. The exemption amount has been raised significantly, effectively eliminating it for most corporations.
How much is the Illinois annual report?
$75 for both corporations and LLCs.
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Get Started FreeLast updated: 2026-02-27. Information is provided for general guidance and may not reflect the most recent changes. Always verify with the official state registrar.