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How to Form an LLC in Wisconsin

How to Form an LLC in Wisconsin
If you’re looking to form an LLC in Wisconsin, you’ve come to the right place. This guide will show you how to form an LLC in Wisconsin and help you decide if an LLC is the right business structure for your business.

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Introduction

An LLC, or limited liability company, is a business structure that can combine the best aspects of a sole proprietorship, partnership, and corporation. LLCs are popular because they offer owners liability protection from debts and lawsuits while allowing for flexible management structures and pass-through taxation. If you’re thinking about starting an LLC in Wisconsin, here’s what you need to know.

To form an LLC in Wisconsin, you must file articles of organization with the Wisconsin Department of Financial Institutions (DFI). You must include the name and address of your LLC, the names and addresses of your members, and the name and address of your registered agent. You must also include the duration of your LLC (if it’s not eternal), the purpose of your LLC, and whether your LLC will be managed by members or managers. The filing fee for articles of organization is $130.

You can file online, by mail, or in person at the DFI office in Madison. If you file by mail or in person, you must include a stamped, self-addressed envelope so the DFI can return your filed articles of organization to you.

Once your articles of organization are filed and accepted, you need to draft an operating agreement. This is an internal document that outlines how your LLC will be run and sets forth the rights and responsibilities of your members. It’s not required by state law, but it’s a good idea to have one in place to prevent future disagreements among members.

After your LLC is up and running, there are ongoing compliance requirements you must meet to keep your LLC in good standing with the state. These include file annual reports with the DFI (due by May 1st every year) and paying annual franchise taxes (due by April 15th every year). If you don’t meet these requirements, your LLC could be dissolved by the state.

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Forming an LLC in Wisconsin is relatively simple and straightforward process. However, there are a few things to keep in mind to make sure everything goes smoothly. Make sure to choose a name for your LLC that complies with state naming rules, hire a registered agent service to receive official correspondence on behalf of your LLC, and consult with an experienced business attorney to ensure you’re following all applicable laws and regulations

What is an LLC?

An LLC, or limited liability company, is a type of business structure that offers personal liability protection and tax benefits.3 min read

An LLC, or limited liability company, is a type of business structure that offers personal liability protection and tax benefits.3 min read

An LLC is created by filing articles of organization with the Wisconsin Department of Financial Institutions (DFI). Once your LLC is formed, you’ll need to obtain an EIN from the IRS and open a business bank account.

To form an LLC in Wisconsin, you’ll need to:

1. Choose a name for your LLC that complies with Wisconsin naming requirements.
2. File articles of organization with the DFI.
3. Obtain an EIN from the IRS.
4. Draft operating agreement for your LLC.
5. Hold an initial meeting of members/managers (optional).
6. File annual reports with the DFI (optional).

The Benefits of Forming an LLC

There are many benefits of forming an LLC, including personal asset protection and flexibility in management and ownership structure. LLCs are also relatively simple and inexpensive to form and maintain. Here are some of the key benefits of forming an LLC in Wisconsin:

-Personal asset protection. LLCs shield their owners from personal liability for debts and obligations of the business. This means that your personal assets, such as your home, savings, and retirement account, are protected in the event that your business is sued or incurs debt.

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-Flexibility in management and ownership structure. LLCs can be managed by their members or by a professional manager. Additionally, LLCs can have multiple owners (known as “members”), which makes them ideal for businesses with more than one owner/partner.

-Simple and inexpensive to form and maintain. Compared to other business structures, such as corporations, LLCs are relatively simple and inexpensive to form. Additionally, LLCs do not have to file annual reports or hold shareholders’ meetings like corporations do.

The Process of Forming an LLC in Wisconsin

There are a few steps you need to take in order to form an LLC in Wisconsin:

1. Choose a name for your LLC. The name must include the phrase “limited liability company” or “LLC.” It can also include the abbreviation “L.L.C.” or “LLC.”

2. File a Certificate of Organization with the Wisconsin Department of Financial Institutions (DFI).
The Certificate of Organization must include:
– The LLC’s name, address, and date of formation
– The LLC’s registered agent information
– The LLC’s principal place of business address, if different from the registered office address
– The names and addresses of each LLC member

3. Create an operating agreement. This is not required by the state but is highly recommended. The operating agreement should outline the ownership structure, member rights and responsibilities, and how the LLC will be managed.

4. Apply for any licenses and permits required by your city or county, as well as any needed by your industry on a state or federal level. Depending on your business activities, you may need to obtain a sales tax license, zoning permit, sign permit, or health permit.
You can find more information on business licenses and permits on the DFI website or by contacting your local chamber of commerce or city hall office

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The Cost of Forming an LLC in Wisconsin

The cost of forming an LLC in Wisconsin is $130. This fee is paid to the state when you file your Articles of Organization. You can file online, by mail, or in person.

Maintaining Your LLC

An LLC is a pass-through entity, meaning that the company itself is not taxed on its profits. Instead, the IRS taxes the LLC members on their individual tax returns. An LLC can be taxed as either a corporation or a partnership. The IRS taxes an LLC as a corporation if it has more than one member and if it elected to be taxed as a corporation. An LLC can also elect to be taxed as an S corporation, which means that the LLC will not be taxed at the corporate level but that the members will still be taxed on their individual tax returns.

Maintaining your LLC means following some simple steps every year:

1. File an annual report with the state of Wisconsin. This report is due by May 1st and costs $25 to file.

2. Pay your annual LLC registration fee of $130 to the state of Wisconsin by May 1st.

3. Hold an annual meeting of your LLC members (or managers, if you have elected to have a manager-managed LLC). At this meeting, you should discuss the previous year’s performance and set goals for the upcoming year. You should also elect officers and make sure that all members are up to date on their dues payments.

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Conclusion

Now that you understand how to form an LLC in Wisconsin, you can get started on the process of starting your own business. Keep in mind that each state has its own rules and regulations regarding LLCs, so be sure to check with your state’s laws before forming your LLC.

Here's How To Create An LLC in Just Minutes!

*This applies to Virginia residents too!

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