How to Form an LLC in Wisconsin: A Step-by-Step Guide

What is the first step in forming an LLC in Wisconsin?

Forming a Limited Liability Company (LLC) in Wisconsin can be a complex process, but with the right guidance, you can navigate the requirements and create a successful business entity. In this article, we will walk you through the steps to create an LLC in Wisconsin, including the necessary paperwork, fees, and regulations.

How do I choose a business name for my LLC in Wisconsin?

The first step in forming an LLC in Wisconsin is to choose a business name. The name must be unique and not already in use by another business in the state. You can search the Wisconsin Department of Financial Institutions' database to ensure the name is available. Once you have chosen a name, you will need to file a Name Reservation Application with the Wisconsin Department of Financial Institutions. This application costs $25 and is valid for 120 days.

What documents do I need to file with the Wisconsin Department of Financial Institutions?

Next, you will need to file the Articles of Organization with the Wisconsin Department of Financial Institutions. This document outlines the purpose of the LLC, the names and addresses of the members, and the management structure. You can file the Articles of Organization online or by mail. The filing fee is $130 for online submissions and $160 for mail submissions.

Are there any additional licenses or permits required for my LLC in Wisconsin?

After filing the Articles of Organization, you will need to obtain any necessary business licenses and permits. These may include a sales tax permit, a business registration certificate, and any industry-specific licenses. You can check with the Wisconsin Department of Revenue and the Wisconsin Department of Commerce to determine which licenses and permits are required for your business.

What is an operating agreement and why do I need one for my LLC in Wisconsin?

Once you have obtained the necessary licenses and permits, you will need to create an operating agreement. This document outlines the ownership structure, management responsibilities, and financial obligations of the LLC. It is a good idea to have an attorney draft the operating agreement to ensure it is comprehensive and compliant with Wisconsin law.

How do I obtain an Employer Identification Number (EIN) for my LLC in Wisconsin?

Finally, you will need to obtain an Employer Identification Number (EIN) from the IRS. This number is used to identify your business for tax purposes and is required for opening a business bank account and hiring employees.

What are the key steps in forming an LLC in Wisconsin?

Forming an LLC in Wisconsin can be a complex process, but with the right guidance, you can create a successful business entity. By following these steps and consulting with an attorney, you can ensure that your LLC is properly formed and compliant with Wisconsin law.