Google Answers Logo
View Question
 
Q: Starting a business in Illinois ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Starting a business in Illinois
Category: Business and Money > Small Businesses
Asked by: hellscream-ga
List Price: $10.00
Posted: 14 Apr 2003 15:29 PDT
Expires: 14 May 2003 15:29 PDT
Question ID: 190479
What I want to do is start a production company.  I want to be able to
have different departmants for say music, web design, programming,
photography, etc.
 
Id like to start a buisiness in which i am completely
seperated from the assets in case of a lawsuit.  Do i want to
incorporate?  Form an LLC?  etc., etc.  Which is best.  Also, in what
order should I start this buisiness here in Illinois.  (do i trademark
first, then inc, or llc, then register with the state?)  I notice when
i tried to register with the state, if the business wasn't inc, or
llc, then the name of the business is my name, and i have a business
name in mind, so thats why the order is of concern to me.  I just
don't want anything to bite me in the rear later, and I want to
protect the business name i have in mind from being taken (if it isn't
already).  Thx.
 
By the way, i want to start out with web design, but leave myself
options for different department or "sub" business like recording, or
photography, etc. wanted to mention this in case it had any bearing on
the answer. thx
Answer  
Subject: Re: Starting a business in Illinois
Answered By: denco-ga on 14 Apr 2003 19:24 PDT
Rated:5 out of 5 stars
 
Howdy hellscream!

The Illinois Department of Commerce and Community Affairs has their "Step
by Step Guide to Starting a Business in Illinois" at:
http://www.illinoisbiz.biz/bus/step_by_step.html

You will want to read everything on that page, including their very good
advice of:

"There are several ways to organize businesses in Illinois. They are Sole
Proprietorships, General and Limited Partnerships, Limited Liability
Partnerships (LLP), Limited Liability Companies (LLC), "S" Corporations
and "C" Corporations. Before selecting a business type, consult an attorney
or accountant for assistance in determining which one is best for your
business."

They go on to describe the various forms of organizing your business.

They have a link which states "Choosing A Business Name When the business
name is different from the owner's full legal name, the "Assumed Name Act"
requires you to register the business name with your county clerk's office,
regardless to the structure of the business."  You can check the availability
of a corporate name at the State of Illinois Business Services' CORPORATE/LLC
INFORMATION SEARCH page:
http://www.sos.state.il.us/departments/business_services/corpnames.html

"By checking our database, we can tell you if the name appears to be used by
another company registered to do business in Illinois."

The FAQ also mentions:

"In Illinois, most business are required to be registered and/or licensed by
the IDOR. If you plan to hire employees, buy or sell products wholesale or
retail, or manufacture goods, you must register with the IDOR. To obtain the
IDOR's Business Registration Kit, contact:"
https://pki.revenue.state.il.us/app/ibr/

Chances are you will need to get an Employer ID Number (EIN), even if you
don't have any employees, so a visit to the Internal Revenue Service (IRS)
website is in order.  They have other resources for business as well.
http://www.irs.ustreas.gov/businesses/

Specific information on EINs.
http://www.irs.ustreas.gov/businesses/small/article/0,,id=98350,00.html

According to the IRS site, it might be relatively easy for you to get an EIN.
http://www.irs.ustreas.gov/businesses/small/article/0,,id=97859,00.html

"The following states participate in the Fedstate Federal Employer
Identification Number (EIN) project and allow businesses to apply for an
EIN from their state office."

The list indicates that Illinois is one such state.

They also have information on starting a business.
http://www.irs.ustreas.gov/businesses/small/article/0,,id=99336,00.html

MyCorporation Business Services, Inc has an LLC Frequently Asked Questions
(FAQ) page which covers some possible liability issues.
http://www.mycorporation.com/llcfaq.htm

They also have a page on the advantages of forming an LLC at:
http://www.mycorporation.com/llcadv.htm

They have a chart that compares liability, etc. of different types of
business structures.
http://www.mycorporation.com/llcforms.htm

The United States Patent and Trademark (USPTO) office has information on
trademark registration.
http://www.uspto.gov/main/trademarks.htm

Their site includes a trademark FAQ.
http://www.uspto.gov/web/offices/tac/tmfaq.htm

The FAQ goes into "classes" of trademarks, which might come into play as
you expand your company, as there are different classes for some services,
such as internet operations, and other services such a print material.
http://www.uspto.gov/web/offices/tac/tmfaq.htm#Application018

You will want to "lock-in" a domain name as well, so you should go to the
Network Solutions "WHOIS" page to check domain name availability.
http://www.networksolutions.com/cgi-bin/whois/whois

The best order of doing things:

- Check to see if your company name isn't one that is obviously
trademarked, keeping in mind all the caveats on the USPTO web site
about trademark availability.
- Check the State of Illinois site to make sure the company name
has not been taken on that level.
- Register your domain name.
- Form your company with Illinois as an LLC or corporation (LLCs are
usually easier to form and deal with, while corporations might provide
you more liability protection) and apply for your EIN at the same time.
- It looks like you will have to register the company name at your county
clerk's office according to the "Assumed Name Act" mentioned above.
- Register your business with the State of Illinois.
- File for your federal trademark as soon as you can after the above.


Search strategy (combined with personal knowledge of the IRS and USPTO
services as well as starting and running my own (LLC) company.):

Illinois LLC
://www.google.com/search?&q=Illinois+LLC

If you need any clarification or more details, feel free to ask!

Looking Forward, denco-ga
hellscream-ga rated this answer:5 out of 5 stars
Outstanding! I aplogize for taking so long to rate the answer, I guess
I forgot all about it, but I did find your information very detailed,
and thank you for your hard work!

Comments  
Subject: Re: Starting a business in Illinois
From: denco-ga on 08 Jun 2003 16:38 PDT
 
Howdy hellscream!

No need for apologies at all!  Much thanks for the 5 star rating
and I am glad you found my answer to be of help.

Looking Forward, denco-ga

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy