Step 1: Select a New Name You’ll need to provide your LLC a new name before you submit your Articles of Amendment. The name must be original and not being used by another Wisconsin company. On the website of the Wisconsin Department of Financial Institutions, you can determine whether your preferred name is available.
Articles of Amendment must then be written and submitted to the Wisconsin Department of Financial Institutions. The current name of your LLC, the new name you’ve selected, and a declaration that the LLC’s managers or members have accepted the name change must all be included in this form.
Step 3: Refresh Your Company Records You must update your LLC’s business records when the Wisconsin Department of Financial Institutions has authorized and processed your Articles of Amendment. This entails revising your operating agreement as well as any other legal records that use the name of your LLC, such as bank accounts, company licenses, and bank accounts.
Dissolution of Administrative Order for Annual Report
LLCs must submit an annual report to the Wisconsin Department of Financial Institutions in Wisconsin. An LLC may be administratively dissolved by the state if it fails to submit its annual report twice in a row.
You must submit a reinstatement application to the Wisconsin Department of Financial Institutions if your LLC has been administratively disbanded. This application shall be accompanied by all unpaid annual reports and fees. Your LLC will be restored and in good standing after your application is approved.
There are a few procedures you must complete in Wisconsin if you want to sell your LLC. The members or management of your LLC must first provide their consent for you to sell the company. Finding a buyer and negotiating the terms of the transaction are the next steps.
Articles of Amendment must be filed with the Wisconsin Department of Financial Institutions to transfer ownership of the LLC when an agreement has been made with the buyer. The company records for your LLC will also need to be updated to reflect the new ownership. Wisconsin Unemployment Is Canceled
If you own an LLC in Wisconsin and have been receiving unemployment benefits, you might need to stop receiving them if your company starts to make money again. You must notify the Wisconsin Department of Workforce Development that you are no longer eligible for benefits in order to discontinue your unemployment benefits.
Articles of Dissolution must be filed with the Wisconsin Department of Financial Institutions if you want to dissolve your LLC there. The name of your LLC, the dissolution date, and a declaration that the LLC’s managers or members have approved the dissolution must all be included in this document.
Articles of Dissolution are processed by the Wisconsin Department of Financial Institutions in 7 to 10 business days on average. Following the dissolution of your LLC, you will need to amend your corporate records and submit any required tax returns to the state and federal governments.
Dissolving an LLC entails putting an end to its business operations legally. This entails submitting articles of dissolution to the state and resolving any unresolved legal or financial matters. The LLC will be dissolved, cease operations, and divide its assets to its members.