LLCs are permitted to submit Articles of Organization in Wisconsin that specify their goal is to generate a general public benefit. This indicates that the LLC is dedicated to operating in a way that benefits both society and the environment while still turning a profit. Benefit LLCs are a relatively new type of LLC that is available to business owners. You must complete certain legal standards and add certain language in your articles of organization in order to become a Benefit LLC. How Do I Update My Wisconsin Articles of Organization?
You must submit an Amended Articles of Organization form to the Wisconsin Department of Financial Institutions (DFI) in order to alter your articles of organization in Wisconsin. The form must contain the changes you want to make, which can be accessed on the DFI website. The filing fee, which is now $50, must also be paid. Your amendments won’t take effect until the DFI gives its approval of them. How Do I File a Dissolution Article in Wisconsin?
You must submit an Article of Dissolution to the DFI if you choose to dissolve your LLC in Wisconsin. On the form, which is available on the DFI website, you must enter the cause for the dissolution, the date it took effect, and other necessary details. This form requires a $20 filing fee. What Does the Term “Duration of LLC” Mean?
The term “duration of LLC” describes how long your LLC will last. In Wisconsin, you can decide whether your LLC will last forever, that is, until it is dissolved, or for a set period of time. You must specify the duration you’ve chosen in your articles of organization if you do. When the time period is up, you can submit amended articles of organization to keep the LLC in operation.
In conclusion, amending your articles of organization in Wisconsin can be simple, but it’s important to take the right measures and adhere to the law. The DFI must receive the proper paperwork, along with the required costs, when you change the intent or length of your LLC or dissolve it. To be sure that you are making the greatest choices for your LLC, it is best to speak with a legal expert if you have any questions regarding the procedure.