It’s no secret how Wisconsin’s economic development became the driving force of many companies stationed within the state. Upon noticing this growing interest, you’re definitely wondering about all the Wisconsin LLC fees you must settle to form your company there. Well, worry not. Our trade experts specifically curated this post to help you resolve that matter.
Formation Costs for a Wisconsin LLC
Business Name Reservation
As you may already know, applying for an LLC name could be quickly done through the submission of your articles of organization. While this step could easily be skipped, the reservation of your desired business name could come in handy if you’re not yet ready to go through the official registration.
To gain exclusive rights to the business label for 120 days, you must settle a reservation fee amounting to $15. However, if you’re not caught up with other things, we suggest submitting formation documents as soon as possible.
Articles of Organization
The submission of your articles of organization is the initial step of forming your business entity in Wisconsin. This filing should include all the basic information of your LLC, its members, and elected registered agent.
You have the choice to file your articles of organization online with a $130 one-time application fee or via mail for $170. As you can see, this initial filing will be the most expensive Wisconsin LLC fees you have to pay, so our business specialists suggest allocating this in your budget ahead of time.
Operating Agreement
As experts in this field, we can tell you that creating an LLC operating agreement could give you more perks than hassles in the long run. However, considering how this internal document outlines ownership rights and management regulations, our team recommends seeking legal assistance instead of curating it yourself for free.
EIN Registration
Business transactions could only be done legally if your entity is identified by the state. Therefore, you’ll have to apply for an employer identification number (EIN) when filing your tax documents, hiring employees, or opening a bank account [1].
You can obtain an EIN by requesting it from the IRS. No need to worry because this procedure comes for free and could be done online.
Registered Agent
Electing a dependable registered agent to receive your state documents is among the many requirements of Wisconsin. Although you are free to assign yourself to this role, be reminded that non-compliance could lead to hefty penalties and dissolution risks.
On the other hand, hiring professional services will ensure accuracy and efficiency in getting the job done. However, expect additional service fees ranging from $0 – $300.
Business License/s
Not all Wisconsin LLCs are obliged to apply for licenses and permits to commence business, but it’s entirely dependent on your company activities and transactions. You should check for licensing requirements at your local, state, and federal government offices or websites.
Other Taxes
The main tax leverage of LLCs in Wisconsin is that the federal government doesn’t impose privilege taxes on your corporate tax returns. However, business-specific activities and transactions where other taxes apply, like selling merchandise or hiring employees.
Foreign LLC Registration
To qualify as a foreign LLC in Wisconsin, you must submit a “Foreign LLC Certificate of Registration Application” to the secretary of state. This filing comes with a qualification fee amounting to $100.
LLC Formation Services (Optional)
Not everyone does it, but occupied business owners tend to let LLC formation service providers handle all the registration legwork for them. With their extensive industry experience, your formation will not only be swift, but they also offer additional features to support your business.
These providers also have registered agent services that you can take advantage of when purchasing their packages, ranging from $0 – $300.
(If you prefer to transact online, we also have listed excellent incorporation service providers here)
Wisconsin Annual LLC State Fees
Annual Report
Similar to other states, periodic reporting is a requirement set by the Department of Financial Institutions to keep their business records updated. Every end of the quarter when your LLC is formed (March 31, June 30, September 30, and December 31), you must submit these forms and pay $25 for domestic LLCs and $80 for foreign entities.
Overall Costs
Calculating all the predetermined mandatory costs, the total estimated expenses for forming an LLC in Wisconsin are around $155 to $195 for domestic companies and $180 for foreign entities.
FAQ
How much does it cost to get an LLC in Wisconsin?
The cost to get an LLC in Wisconsin is around $155 to $195 for domestic registration and $180 for foreign companies. These expenses include the submission of formation documents and annual recurring fees for periodic report filings. Expect additional costs on specific taxes and licenses.
Conclusion
While you’re reading all Wisconsin LLC fees, you’re probably wondering how to work around all the procedures and expenses. Our experts advise you not to attempt any funny business as it could result in penalties and administrative dissolution. Keep in mind that your good standing is the one that provides you your operational rights.
