How to Form a Wisconsin Corporation: A Step-by-Step Guide?

What is the purpose of forming a Wisconsin corporation?

In this comprehensive guide, we'll walk you through the process of forming a Wisconsin corporation, from choosing the right business structure to filing the necessary documents with the Wisconsin Department of Financial Institutions (DFI).

What are the benefits of incorporating in Wisconsin?

As a corporation, you'll enjoy limited liability protection, which means your personal assets are shielded from business debts and liabilities. Additionally, corporations are recognized as separate entities from their owners, allowing for easier transfer of ownership and greater flexibility in terms of management and governance.

How do I choose a business name for my Wisconsin corporation?

You'll need to choose a business name that is unique and not already in use by another corporation in Wisconsin. You can search for available names using the Wisconsin Department of Financial Institutions' (DFI) online database.

Who can be my registered agent in Wisconsin?

Your registered agent must have a physical address in Wisconsin and be available during normal business hours. They will receive legal documents and notices on behalf of your corporation.

What documents do I need to file with the Wisconsin DFI to form my corporation?

You'll need to file articles of incorporation with the Wisconsin DFI. This document must include your corporation's name, address, and purpose. You'll also need to pay a filing fee, which is currently $100.

Do I need a federal tax ID number for my Wisconsin corporation?

Yes, you'll need to obtain a federal tax ID number from the Internal Revenue Service (IRS). This number is required for tax purposes and will be used to file your corporation's tax returns.

What are bylaws and why do I need them for my Wisconsin corporation?

Bylaws are the rules and procedures for your corporation's internal governance. They should include information on the corporation's purpose, officers, directors, and shareholders. Bylaws are essential for ensuring that your corporation is run in a fair and transparent manner.

How do I hold an organizational meeting for my Wisconsin corporation?

You'll need to hold an organizational meeting, where you'll elect officers, approve bylaws, and issue stock certificates to shareholders. This meeting is an important step in establishing your corporation's legal identity.

What happens if my Wisconsin corporation's information changes?

If your corporation's information changes, such as a change in address or registered agent, you'll need to file a statement of change with the Wisconsin DFI.

Can I form a Wisconsin corporation on my own or do I need a lawyer or business advisor?

While it is possible to form a Wisconsin corporation on your own, it is recommended that you consult with an attorney or business advisor if you have any questions or concerns about the incorporation process. They can help you navigate the complexities of forming a corporation and ensure that your business is set up for success.