In this article, we will show you the step-by-step process to open an LLC in Wisconsin, important considerations, costs, and frequently asked questions.
Steps to Start Your Limited Liability Company in Wisconsin
1. Choose a Name
The name is very important, not just from a legal perspective, but also for your company and marketing.
Here are some tips when selecting your business name:
- Make it easy to remember, pronounce, and write.
- Ensure it’s original.
- Choose a name that aligns with your brand’s essence.
- If you’re short on ideas, you can try using your names or surnames, owner’s name abbreviations, acronyms, or names with a meaning related to your brand (like Nike, which is named after the winged goddess of victory).
From a legal standpoint, your name must meet the following requirements:
- It must be an original name not in use by any other company within the state.
- It must contain one of the following suffixes: LLC, L.L.C, Limited, Ltd, Company, or Co.
- It cannot include words that may be confused with a government agency, such as State Department, FBI, Treasury, etc.
- Lastly, it cannot contain restricted words such as: Licenciado/Attorney, Banco/Bank, Universidad/University.
- An Operating Agreement is a contract written between the company’s members to establish who the members of the LLC are and what percentage they own.
- It also outlines how the company will be managed, how taxes will be paid, and how profits will be shared.
- It helps demonstrate that your LLC is a separate entity from its members, which also aids in maintaining personal asset protection.
- Internally, it helps prevent disputes or misunderstandings since everything is documented.
- Hire employees.
- Open a commercial bank account for your LLC.
- Use it for state and federal tax purposes.
- Opening costs
- Registered Agent cost
- Annual Report cost
- Company name search.
- State fees at the Division of Corporations.
2. Get your Registered Agent
Now that you’ve chosen your name, you need to appoint a registered agent.
A Registered Agent can be an individual or a business entity responsible for receiving legal documents, tax forms, government correspondences, and other important documents for a company.
Rex Legal offers our Registered Agent service; feel free to contact us.
3. Articles of Organization
As the third step, you need to file the Articles of Organization with the state of Wisconsin.
You can do this by mail or online (online is recommended for faster processing). You are required to submit the following three documents: Articles of Organization, a list of members or managers, and the state business license.
To file online, visit the Wisconsin Secretary of State.
To file by mail, send it to the following address:
State of WI – Department of Financial Institutions
P.O. Box 93348
Milwaukee, WI 53293
4. Operating Agreement (Optional)
First and foremost, it’s essential to note that this document is not mandatory in the state of Wisconsin. However, we recommend having it for the following reasons:
5. Apply for your EIN
An EIN, which stands for Employee Identification Number, is a 9-digit number assigned by the IRS to identify a business.
With this number, you can:
To find out the step-by-step process for applying, you can refer to our article on how to apply for an EIN.
How much does it cost to create an LLC in Wisconsin?
When creating an LLC in Wisconsin, you should be aware of the following costs:
These are the main costs to consider, along with other additional expenses that may arise, such as the cost to reserve your name (if you choose to do so) and more.
However, we offer an attractive package that allows you to delegate the entire process of creating your company into the hands of passionate and professional experts for each of the legal processes involved in starting an LLC.
Rex Legal’s LLC Creation Package in Wisconsin
Doing all of this on your own requires time, both for completing each step and for learning about what needs to be done.
That’s why at Rex Legal, we decided to assist you, not only with the processes and documents mentioned above but also with important steps like applying for your EIN, searching for your company name, and more.
Our package includes:
From 3 to 5 business days.
Is the Annual Report fee required?
Yes, in Wisconsin, you must file the Annual Report once a year, and it costs $25 USD.
Can I be my own Registered Agent?
To fulfill each of the duties that a Registered Agent performs, you must have a physical address in the state where the company is registered (no PO Boxes), have knowledge of state obligations, notify the company’s deadlines, and have the capacity to receive legal documents from Monday to Friday from 9 AM to 5 PM.
That’s why we always recommend that you hire the service since, in most cases, people do not meet all the necessary requirements.
Need help starting your LLC in Wisconsin?
At Rex Legal, we want to assist you in establishing a successful business within the United States.
So, if you need help with creating your LLC in Wisconsin, contact us. We’ll be happy to assist you.