A limited liability company (LLC) is known for offering personal asset protection and flexible taxation options. To get your LLC formed in Wisconsin, you must consider some costs before taking the plunge.
How much a Wisconsin LLC costs depends on a few factors, such as the filing fee, hiring a registered agent, and any legal fees associated with drafting and filing the necessary Wisconsin business documents.
This article will give you all the information needed for establishing an LLC in Wisconsin.
Quick Summary
- Starting an LLC in Wisconsin costs a minimum of $130, which includes the state filing fee with the Wisconsin Department of Financial Institutions.
- Additional costs may include a registered agent service, name reservation, and annual report filing fees.
- Wisconsin LLCs must also pay business and license taxes, which vary depending on the type of business and its income.
How Much Does An LLC Cost In Wisconsin
An LLC in Wisconsin costs $130 for the Wisconsin Articles of Organization.
When starting an LLC, there are other expenses that you need to consider, such as the cost of a Registered Agent, Business Permits, obtaining a Certificate of Occupancy or Home Occupation Permit, and acquiring a Basic Business License [1].
Wisconsin LLC Filing Fee
The Wisconsin LLC filing fee is paid to the Wisconsin Department of Financial Institutions and costs $130.
This fee is non-refundable, and you have to pay this fee when filing your LLC formation documents.
Wisconsin Registered Agent Service Fee
A Wisconsin registered agent fee can range from as low as $50 to as high as $300 or more per year.
The price range depends on various factors, such as the agent's level of service required, the experience of the registered agent, and the additional features offered by the service provider.
A registered agent is the official point of contact for your business. This individual or business entity is responsible for receiving important legal notices, including notices of lawsuits, on behalf of your business.
To comply with Wisconsin state law, the registered agent must have a physical address in Wisconsin and be available during all business hours.
You can act as your own registered agent, but it is best to leave it to a professional LLC’s registered agent.
Wisconsin Business/License Tax
The Wisconsin Business/License Tax ranges from $0.25 to $1.25 per $1,000 of the total assets, with a minimum tax of $25.
The sales tax payable depends on the type of business and the value of the assets it owns or uses.
The Business/License Tax is in addition to other taxes and fees that businesses may be subject to, such as sales, income, and local taxes.
Other LLC Filing Costs
Here's a rundown of all other Wisconsin LLC fees and costs you may incur when starting an LLC in this state:
1. Name Reservation
Wisconsin LLC name reservation is $15. The name reservation protects an LLC name you want to use before another organization uses it. By filing for a name reservation, you can ensure your desired LLC name remains available.
This filing also allows you to obtain a domain name and wrap up other filing requirements with local, state, and federal tax agencies without worrying about losing your desired LLC name.
Your LLC name reservation is valid for 180 days and can be renewed for another 180 days if necessary [2].
2. Trade Name
A trade name costs $15 in Wisconsin. A trade name is an alternative brand name that your official business uses instead of its legal company name.
Registering a trade name can prevent other businesses from using the same name in the state.
Although registering a trade name is not a requirement for forming a Wisconsin LLC, it might be necessary if your company operates several brands.
By registering a trade name, you can ensure that each brand has a unique identity and a different name.
This registration is valid for 10 years and can be renewed 6 months before expiration.
If you want to register for a trade name, trademark filings and requests are only accepted by the Wisconsin Department of Financial Institutions (DFI) via online applications or walk-in drop-offs [3].
3. Annual Reports
An annual report is a document LLCs in Wisconsin must file with the Wisconsin Department of Financial Institutions each year.
The report's purpose is to keep the state informed of the status and activities of your LLC, including any changes to the registered agent or principal office address, and to maintain your LLC's legal status.
The Wisconsin annual report requires basic information about your domestic LLC, such as the legal name, the names and addresses of members, the name and address of the registered agent, and the principal office address.
The report must be filed online through the Wisconsin Department of Financial Institutions business website, and Wisconsin annual report fee is $25.
You need to file your annual report on time to avoid late fees and penalties, as well as the possible dissolution of your Wisconsin LLC.
The deadline for filing the annual report is based on the anniversary month of your LLC’s formation or registration with the state [3].
Costs Of Registering Foreign LLC In Wisconsin
Here is the cost of establishing a foreign LLC in Wisconsin if you want to expand your business:
Application For Certificate Of Authority
To register your Wisconsin foreign LLC in Wisconsin, you must apply for a Certificate of Authority with the Wisconsin Department of Financial Institutions. The filing fee for this application is $100.
Registered Agent Fee
You must appoint a registered agent when registering your foreign LLC in Wisconsin. This person or entity will receive legal documents on behalf of your LLC.
You can hire a registered professional agent or appoint an individual to meet specific criteria. If you choose to hire a registered agent, there will be a fee associated with this service.
Certificate Of Good Standing
You may also need to obtain a Certificate of Good Standing from your home state as part of the Wisconsin foreign LLC registration process. The cost of getting this certificate can be between $25 to $125.
Annual Report Fee
All LLCs, including foreign LLCs, registered in Wisconsin must file an annual report with the Wisconsin Department of Financial Institutions. The fee for this report is $25 [4].
Related Article: How to Renegotiate a Wisconsin LLC Operating Agreement
FAQs
How Long Does It Take To Set Up An LLC In Wisconsin?
Setting up an LLC in Wisconsin takes approximately 1-2 weeks. The timeline for LLC formation service depends on the processing time of the Wisconsin Department of Financial Institutions. You can file your LLC formation documents online or by mail.
Is Wisconsin A Good State To Form An LLC?
Yes, Wisconsin is an excellent state to form an LLC. Wisconsin has a relatively low cost of living and a strong economy, making it an attractive location for businesses. Also, Wisconsin has a business-friendly environment with a simplified LLC formation process, minimal ongoing compliance requirements, and reasonable tax rates.
Do I Have To Renew My LLC Every Year In Wisconsin?
Yes, LLCs in Wisconsin must file an annual report with the Wisconsin Department of Financial Institutions (DFI) every year to remain in good standing. The annual report can be filed online, with a filing fee of $25.
How Do I Register An LLC Annually In Wisconsin?
To register your LLC annually in Wisconsin, you must file an annual report with the Wisconsin Department of Financial Institutions (DFI). The annual report can be filed online or by mail; the fee is $25. You can use the DFI's online system to file online and pay by credit card or electronic check.
Do You Need Professional Help With Your Wisconsin LLC?
So, if you're considering starting an LLC in Wisconsin, you might wonder how much it will cost. The good news is that the basic filing fee for limited liability companies in Wisconsin is $130, including the Articles of Organization and the Certificate of Organization.
But, there are additional LLC costs all LLC owners must consider, like the registered agent fee, annual report fee, and any other filing fees you might need to pay depending on your situation.
If you're seeking help with LLC registration in Wisconsin, look no further! We have prepared a list of Wisconsin's best LLC formation services to help you with everything from name reservation to filing your Articles of Organization.
References:
- https://wdfi.org/corporations/fees/ltd.htm
- https://www.wisconsin.gov/Pages/business.aspx
- https://onestop.wi.gov/OpenMyBusiness
