Transferring a company (LLC or corporation) out of Illinois [step-by-step]

Attorney and CPA Chad D. Cummings examines the Chicago Bears’ decision to leave Illinois after 106 years in this presentation. The franchise’s Board of Directors voted to pursue a new stadium in Hammond, Indiana, after years of failed negotiations with Illinois over public funding, while Indiana passed a funding bill in less than 60 days. Illinois ranks 38th on the Tax Foundation’s 2026 State Tax Competitiveness Index with the third-highest corporate tax rate in the country, the highest property taxes in the nation, a pension system funded at only 52 percent, and a proposed constitutional surtax that would raise the top individual rate to 7.95 percent. Indiana ranks 10th with significantly lower rates and a more competitive environment. This presentation shows how the same competitive dynamics driving the Bears, Samsung, Dell, ExxonMobil, and Tesla out of high-tax states apply to every business owner, and how redomestication allows Illinois companies to transfer to another state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If the Bears could not justify remaining in Illinois, the question for every other Illinois business owner is what is keeping you. Learn more: https://www.cummings.law/redomestication/move-business-out-of-illinois/