Forming an LLC in Illinois vs. American Samoa
Illinois secretary of state Requirments
If you are reading this, you have already decided to create a Limited Liability Company in the state of Illinois, or you are considering forming an LLC Illinois and want more information. So congratulations! You will be happy to know that business-friendly Illinois LLC is a popular choice.
You may also have heard that forming an LLC in American Samoa has many benefits. If you are finding it hard to choose between American Samoa and Illinois, let us find out how they compare.
LLC Requirements in Illinois (managing members of LLC)
The first step in LLC formation is choosing a name, which must be recognizably different from the names of other companies and business entities already registered with the Illinois Secretary of State.
- Minimum number: LLCs in Illinois must have at least one or more members or managers.
- Residence requirements: The state does not have a provision that specifies where members must reside.
- Inclusion in the Articles of Organization: The names and addresses of members are required to be mentioned in the Articles of Organization.
You will have to choose a registered agent for your Illinois LLC. Every Illinois LLC is required by the Illinois Secretary of State Department of Business Services Limited Liability Division to have a registered agent. You will need to file Articles of Organization, also called Form LLC 5.5 Illinois with the Illinois Secretary of State Department of Business Services.
Remember that the Illinois Department of Financial and Professional Regulations usually issues LLC professional licenses. So, if your LLC operates in a professional industry, like a law firm, you will have to obtain a formal certificate of LLC registration form from the department before launching your business.
Illinois LLC Search
Entrepreneurs and business owners can take advantage of many business incentives, tax exemptions, and tax credits in Illinois. And when you form an LLC in Illinois, you can also protect your personal information, such as your address, from people who may access the information with criminal intent.
American Samoa LLC: Why is it so Appealing?
LLCs in American Samoa avoid double taxation entirely. Profits from LLC are taxed at company rates instead of corporate rates and then disbursed to members of LLC as personal income (rather than dividends), which is usually taxed at personal income tax rates.
- LLC Confidentiality: Owner information remains private- The information of the LLC owners is not made public.
- No State Taxes – American Samoa does not have state taxes.
- Personal Asset Protection – Protect your personal assets from lawsuits.
- One-Stop Online Application- Everything is done online.
- No Third Party is Required – You can register on your own.
- No Annual Renewal Requirement – You can select a 1, 2, or 3-year option
Illinois business search
If you want to get the full variability and flexibility of the best LLC website in American Samoa, use a dedicated portal to speed up and streamline the formation process of an LLC. In the end, most business owners are joyous to find out how much they saved their valuable time through the online portal. https://llc.as.gov
How start llc- From asset protection to confidentiality to security to privacy, start an American Samoan LLC to leverage liability protection and taxation benefits.