Start Your Illinois Company the Right Way

A flexible hybrid entity offering limited liability for members and pass-through taxation. Can be managed by members or managers and allows various types of contributions.

An LLC formed by individuals pooling resources to invest together. Members share profits, losses, and participate in investment decisions collectively.

An LLC structured with two classes of members: General Members who manage and Limited Members who invest, allowing tax advantages by avoiding self-employment tax on passive members.

A special purpose LLC created to hold self-directed 401(k) assets, giving the owner-manager “checkbook control” over investments without custodian approval.

An LLC established to hold self-directed IRA funds, allowing the IRA account owner to directly manage investments with “checkbook control.”

A Series LLC is an entity that allows creation of multiple “series” or cells with separate assets, liabilities, and operations under one umbrella LLC.

A series LLC structured specifically to hold and manage investments for a self-directed 401(k) plan, providing separation of liability between series.

A series LLC designed to hold and manage self-directed IRA assets, giving investment flexibility with liability separation between series.

A series LLC structured with both active manager members and passive investor members, combining dual-class governance with series liability separation.

A business entity owned by two or more individuals/entities. Partners share profits, losses, and responsibilities. General partners have unlimited liability.

A partnership that combines features of a limited partnership and a limited liability partnership. Even general partners have limited liability protection.

A partnership where all partners benefit from limited liability. Commonly used by professionals such as lawyers and accountants. Provides pass-through taxation.

A traditional partnership formed by two or more parties. Limited partners invest capital but have limited liability, while general partners manage and assume liability.

A limited partnership used for estate planning and asset protection, where family members hold interests. General partners manage operations, while limited partners are passive owners.

A corporation organized for nonprofit purposes with no equity owners. Income is not distributable to members, directors, or officers but is reinvested into the mission.

A nonprofit entity exempt under IRS 501(a), which includes a broad range of tax-exempt organizations such as civic leagues, labor organizations, business leagues, and social clubs.

A nonprofit corporation recognized under IRS 501(c)(3), organized exclusively for charitable, religious, educational, literary, or scientific purposes and exempt from federal income tax.

Formed by licensed professionals (e.g., doctors, accountants, engineers) to provide professional services. Ownership and stock transfer are restricted to licensed individuals/entities.