Select a Name for Your LLC in Step 1 To create an LLC in Wisconsin, you must first decide on a name for your company. The name of your LLC must be original and unregistered with the state. On the website of the Wisconsin Department of Financial Institutions, you may see if the name you want is available. The name of your LLC must also contain the phrase “Limited Liability Company” or an acronym like “LLC.”
Step 2: Submit Articles of Incorporation The Wisconsin Department of Financial Institutions must then receive your Articles of Organization. The name, address, and registered agent of your LLC are all listed in this document as basic company information. Online or mail-in filing is an option. For online filing, the charge is $130, and for mail-in filing, it is $170.
Third step: select a registered agent A registered agent is a person or company appointed to accept legal documents on your LLC’s behalf. According to Wisconsin law, every LLC must have a registered agent. The registered agent must be readily accessible during regular business hours and have a physical address in Wisconsin. You have two options for selecting the registered agent: either you or someone else, or a seasoned registered agent service.
Create an operating agreement in step four. It’s a good idea to draft an operating agreement for your LLC even though it’s not legally obligatory. This paper covers the policies and processes for managing your company, including how earnings and losses will be allocated among members, the decision-making process, and what happens if a person terminates their membership. An operating agreement can provide clarity regarding your company’s administration and assist prevent problems. Wisconsin: Adding a DBA to Your LLC
You can add a Doing Business As (DBA) name if you want to run your LLC under a different name. This is referred to as an Assumed Name in Wisconsin. A $30 filing fee and an Assumed Name Certificate must be submitted to the Wisconsin Department of Financial Institutions. The legal name of your LLC will not change, but you are permitted to use the DBA name on your website, business cards, and other materials. How Long Does It Take in Wisconsin to Form an LLC?
Depending on the filing type and workload of the Department of Financial Institutions, Wisconsin LLC creation processing times vary. In general, online filings are processed more quickly than filings via mail. The approval process for your LLC can take a few days to a few weeks. Which Is Better: LLC or Sole Proprietorship? Your specific business requirements will determine whether you should set up an LLC or run a sole proprietorship. The simplest and most affordable business structure is a sole proprietorship, but it does not offer personal liability protection. Creating an LLC can be a better choice if you’re worried about being held personally accountable for business debts or legal claims. Additionally, an LLC provides additional management and tax freedom. To establish which business structure is appropriate for you, speak with a business attorney or accountant.
Final Thoughts
Choosing a name, submitting articles of organization, designating a registered agent, and drafting an operating agreement are the essential processes in the formation of an LLC in Wisconsin. A DBA name can also be added. The procedure can take a few days to a few weeks, and your particular demands will determine the ideal business structure for you. You’re well on your way to creating your own Wisconsin LLC if you keep these procedures in mind.