Local News

State rolls back LLC fees

The state of Illinois, reputed to being more of a taker than a giver, delivered a gift to small business owners and prospective owners just before Christmas.On Dec. 20, Gov. Bruce Rauner signed legislation that reduces startup, annual filing and other fees for limited liability companies (LLCs), a common organizational structure among many of Illinois' 1.2 million small businesses.The purpose of the new law is to encourage more businesses to form in Illinois rather than go to other states to escape high fees. The law, which went into effect immediately, reduces the filing fee for new . . .

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