The Small Business Advocacy Council and a robust coalition of chambers and local groups are engaged in a grassroots campaign to lower the excessive LLC fees in Illinois. Our efforts have made a real impact and the coalition-backed bill, SB 867, passed the Illinois House with unanimous support on May 31st. The next step is for the sponsor of the measure, State Senator Tom Cullerton (D-Villa Park), to bring it up for a vote in the Senate during the fall veto session. After years of work, these much needed changes are closer than ever to becoming a reality!
THE FACTS – Lowering LLC Fees Will:
- Improve the perception of the business climate in our state to help Illinois compete for the best and brightest talent, resources and opportunities for growth.
- Encourage new businesses to form, which will revitalize city neighborhoods and suburban communities.
- Help level the playing field for small businesses by matching LLC rates to those corporations currently pay.
- Prove that politicians in Springfield can get past the partisan gridlock and come together to take real action in support of the small business community.
TAKE ACTION –
- Contact State Senator Tom Cullerton today!
- Forward this email to your network and spread the word about the campaign!
- Stay tuned for news on opportunities later this month to participate in additional grassroots activities – connecting directly with small business owners in Senator Cullerton’s District.
You can also visit our website to learn more about the issue and our coalition or contact the SBAC Director of Communications and Public Affairs, Kimberly Brisky, at email@example.com
Thanks so much for all that you do!
CEO & Co-Founder
Office: (312) 548-8608
November 9, 2017
FOR IMMEDIATE RELEASE
The Small Business Advocacy Council (SBAC) and a robust coalition of local small business organizations spearheaded the effort to reform Illinois’ excessively high limited liability company (LLC) fees. This week, SB 867, legislation that would adjust LLC filing and operational fees to match the rates corporations currently pay in Illinois, passed in the Senate by a vote of 55-0.
Forming as an LLC is the right choice for many small businesses. However, the fees associated with filing and operating an LLC in Illinois are among the highest in the nation. Currently, the initial filing fee and annual renewal fees in Illinois are $500 and $250 respectively. These fees greatly exceed the national average. Lowering these high fees will not only stimulate the formation of small businesses in our state and allow entrepreneurs to spend their resources growing their businesses, it will improve the perception of the business climate in Illinois.
“This initiative is about much more than reducing some of the highest LLC fees in the nation,” said SBAC CEO, Elliot Richardson, “It is about leveling the playing field for small businesses, encouraging new businesses to form in our state, and ensuring the voice of small business is heard and acted upon in Springfield.”
The SBAC is especially thankful for the hard work of State Senator Tom Cullerton and State Representative Carol Sente, the sponsors of this legislation. The bill is now headed to the desk of Governor Bruce Rauner for his signature.
The SBAC is a non-partisan, member driven, organization that empowers small business through advocacy, networking, educational programs and cost-saving exclusive benefits. To learn more about their mission, please visit www.sbacil.org.