Make sure you are registered as a Home Inspector Entity and not just as an individual if you are inspecting under your company name. They are starting to investigate into this. I, as well as one of the other locals, just got called on it. We now have to put in an additional application to the state…and an additional $250.00 fee.
Jeff
Thanks for the heads up. Anything for an extra buck for them huh?!?
I looked up on IDFPR and it states in part “…operating in a form of Corp, Partnership, or LLC…” falls under “entity”.
Stay hydrated today Illinois inspectors!!
The state HI law states that if you are doing business as anything other than a sole propietorship of a simple partnership, you MUST have an entity licensed for the company in addition to each inspector having their own license. This has always been the case, but this is Illinois, the land of corruption. Go figure.
Indeed, they are going to start cracking down on this. For many years, the state didn’t have the finds or manpower to enforce.
I find it very interesting that home inspectors must each, personally, be licensed whereas roofers do not. With roofers, only one guy in the company has to have a state license.
BTW: How did you get away with only $250? My license cost $400.
So if you’re a sole proprietor, you can still use your business name without having to pay for an entity license. Correct?
If you are a sole proprietor, your personal name IS your business name. You cannot, legally, have a “business name” (like Detective Inspection Company) unless you are some sort of legal entity. If you are a sole proprietorship, Chris, you can only, legally, work under your own name. You are also not supposed to be able to open a bank account for a company without being some sort of entity.
Sorry if I burst your bubble.
No, I’m good. Thanks Will.
"The sole proprietorshipis the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.** A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name, such as Nancy’s Nail Salon.
The fictitious name is simply a trade name–it does not create a legal entity separate from the sole proprietor owner."
**Forming a Sole Proprietorship
“If you choose to operate under a name different than your own, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).”
I would check, specifically, under the laws of Illinois, with a lawyer. I was speaking about Illinois and different states have different laws. National definitions, like from the SBA, do not always apply.
Application for the Entity License is $250.00… and then it’s $200.00 per year like the individual license fee.
Jeff
We have some big Illinois licensing news coming next week.