An llc in wisconsin is simply a Limited Liability Company that has already been set up in the state of Wisconsin. Forming an llc in wisconsin though is a fairly simple and affordable procedure, much like the process in almost any other state. Like many other states though, there are some detailed procedures that must be followed in order to register an LLC. In no way is this intended to discourage people from starting an LLC - far from it!
When you are considering forming an LLC in Wisconsin, you should know that it is a relatively short process. Unlike most other states which require weeks to months to complete the formation process, you can have your LLC running in just a few short weeks in Wisconsin. Depending on the paperwork that needs to be submitted with the LLC, it may not be completed in a single day. But, if at all possible, you should seek out a local attorney to help you through the process.
The first thing that you must do when you are forming an LLC in Wisconsin, is file a fictitious name statement with the office of the Wisconsin Department of Revenue. Even though an LLC is not considered a legal entity by the state, it will still need to register with the state tax authority. This is done through a process called "incorporation." Once filed, the LLC will then be granted its own filing number. The filing number is actually the only thing that will remain the same throughout the life of the LLC.
How To Open A Business LLC In Wisconsin
Once the LLC has filed its paperwork with the state tax authority, you will be given an authorization to print and issue a business license. The license will be displayed on a piece of paper that is referred to as the "statement of authority of business." This will serve as your permanent business address in Wisconsin, and any other location that you may choose to conduct business. You must also file any necessary state income tax returns with this office.
Once all of these steps are complete, you will have completed forming an LLC in Wisconsin. One of the next steps that you must take is to file an application with the Register of Deeds in Wisconsin. To apply for an application, you will need the filing online form 502. The application can be done by visiting the website or completing a paper application. A certified letter of intent will be needed from each member of the LLC and must accompany the filing.
The third step that you must take is to contact an accountant that is registered with the Wisconsin Real Estate Transfer Tax Act. In order to obtain approval for the incorporation of the LLC, an accountant must provide proof that he or she is registered with the IRS with a business license from the Wisconsin Department of Financial Services. This proof is required for the accountant to determine the LLC's taxable income. If all of the requirements are met, then the third step will be completed.
The fourth step that must be taken is to obtain a federal Employer Identification Number or EIN. An EIN must be obtained from the Internal Revenue Service, Social Security Administration, or Minnesota Employment Practices Commission. You can obtain the EIN by visiting the IRS website, or by contacting the appropriate authorities from the EIN. Once you have obtained an EIN, you must submit it to the IRS along with all of your other financial records for the business. After receiving your application, the IRS will process your request.
The fifth step that you have to take is to write to the IRS requesting to receive a social security number to verify the identity of your LLC. You will be asked to supply your name, address, and social security number so that the IRS can generate your tax account number, which is your refund amount. You may also want to include copies of any press releases, letters, or other statements about your business that you have sent to the IRS.
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