120313 js 0288wSPRINGFIELD – Illinois low-income entrepreneurs and small businesses may soon find relief from high fees, thanks to Villa Park Democrat State Senator Tom Cullerton.

Cullerton passed Senate Bill 867 to lower the cost to create a Limited Liability Company to $39 from $500.

“It should be easier for entrepreneurs to start and maintain their businesses,” Cullerton said. “Small businesses drive our economy. It’s important we give them an opportunity to thrive and be successful.”  

The proposal also lowers the Series LLC filing fee from $750 to $59.

“The existing $500 fee is one of the highest in the country and is significantly higher than all our neighboring states,” Cullerton said.  “Let’s remove the hurdles to ensure Illinois businesses can achieve entrepreneurial success.”

Senate Bill 867 passed the Senate with bipartisan support and now moves to the House for debate.