Illinois Compiled Statutes 805 ILCS 5/15.60 – Rate of license fees payable by foreign corporations
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Terms Used In Illinois Compiled Statutes 805 ILCS 5/15.60
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The initial license fee and all additional license fees payable by a foreign corporation shall be computed at the rate of one-twentieth of one per cent of the basis prescribed in this Act for the computation of the initial license fee and additional license fees, respectively, but the initial license fee shall not be less than 50 cents.