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IL HB1604

Bill

Official Source

Status

Introduced

1/23/2025

Primary Sponsor

Suzanne Ness

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Waives the $75 annual report filing fee for new limited liability companies during their first 5 years of operation if gross annual revenue is less than $1,000,000

  • Amends Section 50-10 of the Illinois Limited Liability Company Act regarding fees charged by the Secretary of State

  • Applies to domestic limited liability companies formed in Illinois

  • Standard annual report fee of $75 remains in effect for LLCs with $1,000,000 or more in gross annual revenue, or for those beyond their first 5 years of formation

Legislative Description

LLC ANNUAL REPORT FEE-WAIVER

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/21/2025

Committee Referrals

Rules3/21/2025
Tax Policy: Other Taxes3/3/2025
Revenue & Finance2/18/2025
Rules1/28/2025

Full Bill Text

No bill text available