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Wisconsin LLC
A limited liability company or LLC is a way to legally form your business. It gets you the benefits of the limited liability of a corporation with the flexibility and lack of formalities available to partnerships or sole proprietorships.
How to start an LLC in Wisconsin
Here are the steps you need to take to start an LLC in Wisconsin.
Choose a Name for Your LLC
Choosing a company name is the first step in forming your Wisconsin LLC. Be sure to select a name that complies with Wisconsin naming requirements and is easily searchable by potential clients.
Follow these naming guidelines for a Wisconsin LLC:
- Your name must include the phrase “limited liability company” or one of the following abbreviations or words: “LLC, L.L.C., ltd., limited liability co., ltd. liability company, ltd. liability co., or limited.”
- Your name cannot include words that could confuse your LLC with a government agency (FBI, Treasury, State Department, etc.).
- Restricted words (e.g. Bank, Attorney, University) may require additional legal paperwork and a licensed individual, such as a doctor or lawyer, to be part of your LLC.
Appoint a Registered Agent
You are required to nominate a Wisconsin registered agent to form your LLC.
A registered agent is an individual or business entity responsible for receiving important tax forms, legal documents, notice of lawsuits, and official government correspondence on behalf of your business. Think of your registered agent as your business's point of contact with the state.
Who can be a registered agent? A registered agent must be a resident of Wisconsin or a corporation, such as a registered agent service, authorized to transact business in Wisconsin. You may elect an individual within the company including yourself.
File Articles of Organization
To register your Wisconsin LLC, you will need to file the Articles of Organization with the Secretary of State Business Services Division. This can be done online or by mail.
The articles may be filed online at the Wisconsin Department of Financial Institutions website or by postal mail. The filing fee is $170 for filing by mail and $130 for filing online.
An LLC is referred to as a "domestic LLC" when it conducts business in the state where it was formed. Normally when we refer to an LLC we are actually referring to a domestic LLC. A foreign LLC must be formed when an existing LLC wishes to expand its business to another state.
Prepare an Operating Agreement
An operating agreement is not required for a Wisconsin LLC, but it's a good practice to have one.
What is an operating agreement? An operating agreement is a legal document outlining the ownership and operating procedures of an LLC.
Why are operating agreements important? A comprehensive operating agreement ensures that all business owners are on the same page and reduces the risk of future conflict.
Prescott Area Chamber of Commerce, 237 Broad St., Prescott, WI 54021
715.262.3284 . info@prescottwi.com
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