You might be wondering where to go for your articles of organization if you are the owner of a limited liability corporation (LLC) in Wisconsin. When you submit the articles of formation to the Wisconsin Department of Financial Institutions, these legal documents establish your LLC. Here’s where to look for them.
Go to the Wisconsin Department of Financial Institutions website first, then select the “Search for Business Entities” link on the front page. You will be directed to a page where you may look up your LLC using its name or registered agent. After entering the data, click “Search.” You’ll see a list of search results if your LLC is active and in good standing.
To view your LLC’s business summary page, click on the name of your LLC. Important details about your LLC, such as its registered agent, status, and creation date, are available here. Select the “Documents” option to find your organization’s articles of incorporation. You will be sent to a page where you can read and download the articles of incorporation and all other legal records related to your LLC.
Although operating agreements for LLCs are not required under Wisconsin law, it is strongly advised that you have one. A legal document known as an operating agreement describes how your LLC will be managed, including how earnings and losses will be allocated, how decisions will be made, and what will happen if a member resigns or passes away.
An operating agreement can shield your personal assets, stop misunderstandings and disagreements among members, and give your LLC a clear operating manual. The default LLC laws in Wisconsin may apply to you if you don’t have an operating agreement, which may not be what you want for your company. What Does the Term “Vested in a Manager” Mean?
If your LLC is “vested in a manager,” it indicates that the management of the LLC’s affairs has been assigned to one or more managers. Unlike an LLC that is “member-managed,” where all members have a vote in how the LLC is governed, this is not an LLC.
The members renounce their management rights and transfer authority to the manager(s) when an LLC is vested in a manager. The manager(s) has the authority to decide and act on behalf of the LLC, including signing contracts and recruiting staff. Members of the LLC or third parties may be vested managers.
LLCs must submit an annual report and pay an annual fee in Wisconsin in order to keep their status as active and in good standing. By the end of March of each year, the annual report and fee are due. To renew your LLC, take the following actions:
2. On the homepage, click the “File Annual Reports/Amendments” option. 3. From the list of entities, pick your LLC. 4. Complete your yearly report as directed, submit it, and pay the associated charge.
What exactly is an LLC? A business organization known as an LLC, or limited liability company, combines the liability protection of a corporation with the advantages of taxation and flexibility of a partnership. LLCs are owned by one or more members, and either the members themselves or selected management are in charge of running the business.
Small business owners choose LLCs because they insulate their personal assets from personal liability and enable pass-through taxes, in which profits and losses are reported on the owners’ individual tax returns. LLCs are a flexible alternative for many different kinds of enterprises because they provide flexibility in management and ownership structures.
In Wisconsin, submitting articles of incorporation costs $100 online and $130 by mail.