Accounting & Tax Services in Schaumburg, IL

Schaumburg Business Accounting, Licensing and Tax

A village license for most businesses

Title 11, Chapter 110 of the Schaumburg Village Code requires anyone conducting a business, occupation or activity in the village to obtain and display a valid Schaumburg business license. The village exempts businesses regulated by the federal government or the State of Illinois. If you are opening an office, store or restaurant, the village license is a separate step from registering with the state through MyTax Illinois. The village also publishes a separate resource guide for home-based businesses and a certificate of occupancy and business license guide for tenants moving into commercial space.

Cook and DuPage portions, and the 2025 reassessment

The Illinois Department of Revenue lists Schaumburg in both Cook and DuPage counties. As of August 1, 2026:

• Cook County portion: 10.25% (was 10.00%)
• DuPage County portion: 8.25% (was 8.00%)

The Cook County Assessor reassessed Schaumburg Township in 2025. Notices went out October 2, 2025, and the appeal deadline was November 17, 2025. The Assessor says values certified in 2025 affect second-installment bills issued in 2026. If you own a commercial condo or small office building, compare the second-installment bill with the 2025 notice. The township’s next reassessment on the three-year cycle would be 2028.

Where we help

The village says Schaumburg has grown from a farming community into the second-largest economic development center in Illinois, and Woodfield Mall has a seat on the village’s Business Development Commission. For offices, retailers and service firms with employees, we provide:

• Payroll services with Illinois and federal withholding filings
• Bookkeeping with monthly reconciliations and sales tax tracking
• Business tax preparation, including Illinois replacement tax at 1.5% for S corporations and partnerships or 2.5% for C corporations

Profits from an S corporation or partnership pass through to the owners on K-1s. We prepare the owner’s personal return with the entity return so both use the same figures.

Contact

Owners of Schaumburg businesses with employees can bring recent payroll reports to a first conversation. Our office at 1323 Butterfield Rd, Downers Grove is about 18.7 miles by road from Schaumburg. Call (331) 264-4194 or use the contact page.