State News
7:14 am
Mon February 3, 2014

Businesses say Governor's plan to decrease the LLC fee is a drop in the bucket

The governor says he wants to make Illinois the least expensive state to organize as a limited liability corporation. As IPR'S Amanda Vinicky reports, business groups aren’t against the idea. But they say that isn't enough to spur job growth.

As he runs for re-election, Gov. Pat Quinn says he's going to put a renewed focus on small businesses. Including by making it less expensive for them to open up shop in Illinois. Now, filing as an LLC entails paying the state $500. Here's Quinn during his state of the state speech:

"Let’s reduce this fee to $39 – the lowest in the nation- and provide a boost to our innovators. This small but important step will encourage entrepreneurs to start their business and put more people to work."

"I doubt if someone is looking to start a business that the difference is probably 465 bucks."

And that's Rob Karr, head of the Illinois Retail Merchants Association. He says business owners are looking for certainty.  And Quinn's other plans like raising the minimum wage and requiring companies give workers sick days, not to mention Illinois' unstable financial status, will chase businesses, and their jobs away.