Forming a Single-Member LLC in Wisconsin
To form a single-member LLC in Wisconsin, file a Certificate of Authority with the Wisconsin Department of Financial Institutions. The filing fee is $130. Also file a Filing Report with the Wisconsin Department of Revenue, which has a $25 filing fee. A single-member LLC provides the owner limited liability protection from creditors and legal claims. Additionally, Wisconsin offers a favorable tax structure that can benefit entrepreneurs.
Registering an LLC in Wisconsin
To register an LLC in Wisconsin, file a Foreign Limited Liability Company Certificate of Registration Application (Form 521) online with the Wisconsin Department of Financial Institutions. The filing fee is $100. Before filing, verify the LLC’s name is available in Wisconsin.
Necessary Steps for Forming an LLC in Wisconsin
- Research requirements
- Choose a name
- Select a registered agent
- File forms and pay fees
- Create an operating agreement
- Get an EIN
- Make additional business registrations
Most new single-member LLCs need an Employer Identification Number (EIN) from the IRS to track tax filings. Operating agreements detail how an LLC runs, including each member’s duties and financial contributions. Though not required in Wisconsin, creating one can help avoid confusion.
Forming an LLC in Wisconsin provides limited liability protection and management flexibility. If the business has financial difficulties, the owners’ personal assets are protected. Wisconsin allows pass-through taxation so LLC income taxes are paid by the individual members. To move forward with paying taxes and hiring employees, all LLCs need a Federal Employer Identification Number (FEIN) from the IRS.