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Wednesday, January 26, 2011

Starting a New Business in Illinois

When you start a new business, one of the first decisions you must make is the type of business formation. The basic choices are sole proprietor, partnership, LLC, and corporation.

A sole proprietorship is the easiest form of business to setup and maintain. You choose a business name and register the name in the Illinois County where the business will be located. If you are doing business in your own name, this step is not required. There are minimal fees and legal costs in starting your business and it is generally easier to manage than the other business forms.