The Small Business Advocacy Council (SBAC) recently announced the passing of SB2776 lowering LLC fees. The SBAC inspired legislation to lower Illinois LLC filing fees from $500, the highest in the nation, to $39. The bill passed the Senate without opposition. Now they will begin focusing their efforts on moving this legislation through the Illinois House.
This is great news for potential business owners. Small businesses play a vital role in the growth and economic success of our communities. Hopefully this will deter entrepreneurs from filing out of state (as they often do) to avoid the high fees.
For more information you can also connect with their Facebook page Lower LLC Filing Fees: Empower Illinois Small Businesses and Entrepreneurs. Also, to see how the Senate voted click here.