In our August 8 update, we noted the ability to file Articles of Incorporation online in Illinois. This is a useful feature to offer. However, we have discovered a limitation in that it appears the Illinois Secretary of State will not accept online filing for a corporation with initial paid-in-capital in excess of $16,000. This limitation is apparently due to the fixed franchise tax of $25 charged for online filings (which is the minimum franchise tax in Illinois). Capital greater than $16,000 would result in a franchise tax greater than $25. This clearly limits the ability for some corporations to be formed online. But the Illinois Secretary of State offers other expedited services, such as fax filing, so a corporation can still be incorporated quickly in Illinois.
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