LLC Wisconsin: Everything You Need to Know
An LLC Wisconsin is a limited liability company that has been set up and organized to do business in the state of Wisconsin.3 min read
An LLC Wisconsin is a limited liability company that has been set up and organized to do business in the state of Wisconsin. When setting up an LLC, you must follow all requirements and regulations to legally form a business.
How to Form an LLC in Wisconsin: Drafting the Articles of Organization
One of the first steps in forming an LLC in Wisconsin is selecting a business name. When you choose the name, you must follow certain state guidelines:
- The name must include the phrase “limited liability company” or one of the acceptable substitutes, which are LLC, L.L.C., and limited liability co.
- The name can only contain Roman numerals, Arabic numerals, and/or English letters.
- The name must be different and distinguishable from all other business names currently registered or reserved with any federal or state agency, as well as with the state's Department of Financial Institutions.
Before you file any paperwork to reserve or register your business name, you must check to make sure the name you want to use is available. It is also important to be sure that the name you have selected meets the state requirements and regulations. Conduct an online search for existing business names in the Wisconsin Business Entity Search system. This will include all names that have been registered with the Department of Financial Institutions.
After you have selected your business name, the next step in the LLC registration process is to name a registered agent. This individual or business is responsible for receiving any legal paperwork on behalf of the LLC. When you name this agent, you must include the office address on the application to form an LLC, which must be a physical address in the state of Wisconsin.
When you file the required paperwork, the filing fee is $130 for filing online and $170 for filing by mail or in person. The application process takes about four to seven days when you file online, although you can expedite it by paying an extra $25 fee.
The laws in Wisconsin also require your LLC to appoint a registered agent to receive legal processes and other official documents. The agent must be available to receive documentation during normal business hours at the registered office address you include on the form. This address represents the registered agent's physical business address. When filling out the form, you must include the registered office's full street address. It cannot be a P.O. box.
Another step in the process of forming an LLC in Wisconsin is filing the articles of organization. When you have these completed and have filled out the form in its entirety, you can either file the documentation online or mail it to the address included in the instructions section.
How to Form an LLC in Wisconsin: Setting Up Your LLC
After you file the articles of organization for your LLC, you will need to take some additional steps before you open up shop and start doing business. The first step to draft an operating agreement that is agreed upon by all the owners of the LLC, who are called the members.
An operating agreement governs how the members will operate an LLC. Some of the important things to outline and include are:
- Each member's role.
- Each member's capital contribution.
- Voting rights.
- How members can be added or removed.
- How to allocate profits and losses.
- How the operating agreement can be amended.
- Another step is to apply for a federal employer identification number (EIN) with the IRS. When an LLC has multiple members, the EIN is required to pay state and federal taxes, open a business bank account, and hire employees.
The IRS offers three methods for obtaining an EIN:
- Complete the online application.
- Call the IRS on the EIN-specific line: 800-829-4933.
- Complete Form SS-4 and mail it to the included address.
Before you apply for an EIN, you need to be sure that the LLC has been formed legally in the state, which includes filing all required documentation and paying the necessary fees.
How to Form an LLC in Wisconsin: Submitting Additional Filings
When forming an LLC, you also need to apply for and obtain all required business permits and licenses. Your city clerk or county clerk's office will have more information about the required permits and licenses to do business in the LLC's jurisdiction.
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