A DBA (Doing Business As) certificate may need to be filed with the Wisconsin Department of Financial Institutions (DFI) if you are conducting business in Wisconsin under a name other than your own legal name. A trade name or fictitious name certificate is another term for a DBA certificate.
However, you are exempt from filing a DBA if you are a lone proprietor and are conducting business under your legal name. However, you must submit a DBA to the DFI if you are using a name other than your legal name. A DBA certificate is further required if you intend to open a bank account or sign contracts using your business name.
You can submit your application online, by mail, or in person in Wisconsin to obtain a DBA certificate. The application requests basic details like your business name, legal name, address, and kind of business in addition to a $15 filing fee. To confirm that the business name you have chosen is available and not already in use, you can also look up the name in the DFI’s public records.
It’s crucial to understand that a DBA does not give your company name legal protection. Consider creating an LLC (Limited Liability Company) or incorporating your business if you wish to safeguard your company name.
A DBA is merely a registration of your company name, whereas an LLC is a formal corporate structure that shields its owners from liabilities. An LLC is a distinct legal entity that can own property, enter into contracts, and carry out business operations when it is created. In an LLC, the owners are referred to as members, and they are not personally responsible for the debts or liabilities of the company.
A DBA, on the other hand, offers no legal defense for your company. You are liable for any debts or obligations if your company is sued or you experience financial difficulties. In Wisconsin, do I require a business license?
Depending on the kind of business you are doing, several licenses and permits are needed. Businesses that sell products or services in Wisconsin must apply for a seller’s permit with the Wisconsin Department of Revenue. Additionally, certain firms and professions can need particular licenses or permits from municipal or state authorities.
To make sure you are in compliance with all relevant rules and regulations, it is crucial to understand the licensing requirements for your particular firm. How Can a Small Business Be Started in Wisconsin?
1. Selecting a business structure – determine whether to create a corporation, LLC, partnership, or sole proprietorship.
3. Getting tax identification numbers – if you have employees or intend to start an LLC or company, get an Employer Identification Number (EIN) from the Internal Revenue Service (IRS).
5. How to finance your business and how to manage your income and costs. Decide how you will finance your firm.
Small business startup involves thorough preparation and close attention to detail. You can start a profitable business in Wisconsin by adhering to these guidelines and getting advice from professionals.
Yes, you must register your business in Wisconsin before you may operate it. If you want to register your business under a name other than your legal name, you can submit a DBA (Doing Business As) form.