Process of forming an LLC in Wisconsin
Usually, the process takes between 3-5 business days to create an LLC in Wisconsin. Your personal information is secured with Wisconsin LLC Formation Made Easy. You can look up an LLC in Wisconsin by checking the business name on the Wisconsin Secretary of State Business Search. If it is available, you can file a reservation with the Department of Financial Institutions for 120 days at a $15 filing fee payable to the Financial Institutions Department.
There are various legal structure options available, from sole proprietorship to partnership, corporation, LLC and more that provide protection for personal assets and liabilities. The main factors to consider are location, which determines forms of entity available and taxes paid.
Starting an LLC in Wisconsin involves choosing a unique business name complying with naming requirements and trademark considerations. Conduct a free search on the Department of Financial Institutions website to see if your desired name is available. You need to designate a registered agent in Wisconsin available during business hours to receive legal documents.
The Wisconsin Department of Financial Institutions charges a $170 fee to file the Articles of Organization by mail and $130 online. If the LLC has elected tax-option (S) corporation status, it files Form 1120S and Wisconsin Form 5S. You can file your Wisconsin LLC annual report through the Department of Financial Institutions website.
LLCs in Wisconsin are subject to state and federal income taxes. The amount of tax depends on your profits. LLCs in Wisconsin pay state income tax at the same rates as individuals, ranging from 4% to 7.65% depending on income level.
To add a DBA to a Wisconsin LLC, file an application with a $50 fee to the Department of Financial Institutions.
Benefits of forming an LLC in Wisconsin
Forming an LLC in Wisconsin offers benefits like limited liability protection, pass-through taxation, flexible management, and simplified recordkeeping. Follow the steps closely to set up your LLC correctly and legally.
You may want to create an operating agreement to manage your Wisconsin LLC affairs and prevent problems, even though it is not legally required. You can hire a professional service to help create and file one.
Most LLC formation services that file paperwork with Wisconsin are inexpensive, simple, and confident in accuracy. The top-rated service is ZenBusiness, costing $39 plus state fees.
Important considerations for LLC formation in Wisconsin
Every Wisconsin LLC must designate an official physical address on file, whether it’s an office, residence, or P.O. box. You must also assign a Registered Agent responsible for receiving legal and tax documents.