Q: Illinois Small Business Guide: How to Start and Run a Business in Illinois

Are you a business owner in Illinois? Or, maybe you’re considering launching your next venture in the Prairie State? Then you’ve come to the right place! Here, you’ll find guidance on how to start a business, fund your business, operate your business, hire employees, file for taxes, stay compliant in your state, and more. 

Bookmark this page and keep checking back to track new legislation and developments in Illinois that may affect your company. Now, let’s dive in!

How to register your business in the state of Illinois

First thing is first: Here is how you register your new business in Illinois.

Find funding for your Illinois-based business

Every business, whether new or established, requires funding. Luckily, there are business loans and grants specifically designed for Illinois-based businesses. Check out the Illinois business funding page to find a loan or grant that’s a fit for your company. 

How to file and pay business taxes in Illinois

Navigating the tax landscape can be complex—especially for busy business owners. Here is an up-to-date tax guide for Illinois businesses

Managing employees in Illinois

  • Are you calculating employee paychecks? Use this Illinois salary paycheck calculator to determine withholdings and calculate take-home pay for your employees in Illinois. (We do the math for you.)
Minimum wage in IllinoisSUI tax rate in IllinoisIllinois DOL website
$13 per hour (employers may pay $12.50 for the first 90 days of work)$7.80 minimum tipped wage per hour New employer tax rate: 3.95%

Tax rate range: 0.85% – 8.65%

Wage base: $13,271
Illinois Department of Labor
Chicago
$15 per hour

$8.70 minimum tipped wage per hour for employers with 4 to 20 workers; $15.40 for employers with 21 or more workers
Cook County
$13.70 per hour

$8 minimum tipped wage per hour 

More information for business owners in Illinois

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