A hybrid business structure is a limited-liability company that shares the same characteristics as a corporation and sole proprietor.It allows its owners to insulate themselves from personal liability for business debts, does not require the payment of separate business taxes, and is subject to fewer regulations and restrictions than other businesses.It is easy to establish a company in Wisconsin.
Step 1: You need the Articles of Organization form.
After owners complete and file their Articles of Organization with the Division of Corporate and Consumer Services of the Wisconsin Department of Financial Institutions, a limited liability company is formed.An Articles of Organization form can be found on the department's website.The form has two pages.You will fill out the necessary information and then file.Instructions for completing the form are contained in the second.Before filling out the form, make sure to read through the instructions.
Step 2: Pick a name for your company.
You will have to choose a name for your company during this process.The name of your company must use only English letters or Arabic numerals.The name must include the words "limited liability company" or "Limited liability co."Or something similar.Any name currently reserved or registered with the Department of Financial Institutions and any state or federal agency must be distinguishable from yours.
Step 3: Check to see if your name is available.
If your name is acceptable under state law, you should submit the Articles of Organization.The Department of Financial Institutions has a database that you can use to conduct an online search for business names that are already registered.You can reserve a name for a period of 120 days by filing an optional form and paying a fee.You can pay an additional fee for expedited processing of this form.If your first choice is unavailable, try to have a few other names for your company.If you want to authorize a second name for your company if your first choice is unavailable, you can list an alternative name on the bottom of the form.Because Wisconsin law doesn't require every business name to be registered with the Department of Financial Institutions, it is recommended that you consult trade publications, telephone books, and business directories to see if your name is available.You might want to check to make sure the relevant URL is available so your online presence will have an appropriate domain name.
Step 4: The initial registered agent is indicated.
State law requires your limited liability company to have a registered agent in Wisconsin who can serve legal process and send official documents.The physical business address of your registered agent must be located at the registered office, which is in Wisconsin.You need to provide the full street address for your office.There is a P.O.Box alone is not enough.The registered agent may not be your limited liability company.
Step 5: Decide if your company will be managed by a member or a manager.
A member of an limited liability company is either an investor or an owner.Each member of a member-managed limited liability company has the right to decide how the business will be run.Several from the members' number are elected to be in charge of the company's business affairs.The appropriate box on the form should be checked after you have decided how your company will be managed.
Step 6: There is information relating to the organizers.
The form requires you to provide names and mailing addresses for each of the organizers.You must have at least one person sign the form.
Step 7: You can tell who drafted the Articles of Organization form.
The person who filled out the Articles of Organization form has to give his or her name on the first page.On the second page of the form, this individual must provide his or her return address and daytime phone number.If there is a question regarding the Articles of Organization form, this person will be contacted.
Step 8: If you wish, enter a delayed effective date.
You can delay the effective date of the Articles of Organization by writing a blank space on the form.The date cannot be before or after 90 days after the Department of Financial Institutions receives the Articles of Organization for filing.
Step 9: The articles of organization should be filed.
You can file the form by mailing it to the address listed in the instructions section, which is near the top of the second page.You can also file online.The filing fee is $170.If you are filing online, the fee is $130.You can pay an additional fee to have your application expedited.
Step 10: An operating agreement is needed for your business.
Before you start doing business, there are a number of other steps you should take.An operating agreement is the first thing that should be drafted.The document will govern how your company will be run.The operating agreement should outline things like the roles of each member, voting rights, how new members will be added or removed, and how profits and losses can be allocated.You don't have to file this agreement with the state.
Step 11: You can get an employer identification number from the IRS.
If your company has more than one member, you will need this number to open a bank account, hire employees, and pay federal and state taxes.There are three ways to apply for this number: online, by contacting the IRS, or by completing and mailing the form.Before applying for an Employer Identification Number, make sure you have a legally formed limited liability company.
Step 12: You can open a corporate account.
You will want your company to have its own bank account, unlike the bank accounts of its members.Depending on the requirements of the individual banks, you will likely need a copy of its Articles of Organization and an Employer Identification Number.
Step 13: Business licenses and permits are required.
You will need to obtain licenses or permits from the county or city clerk's office in order to conduct your business in that jurisdiction.If you need more licenses or permits for your company, contact these offices.If your company will engage in any business that is regulated by the Wisconsin Department of Safety and Professional Services, you should check their website for licensing requirements.
Step 14: The appropriate agencies to file with are the federal, state, and local.
Depending on the business purpose of your limited liability company and the jurisdiction in which you organize, you may have to file additional forms with certain governmental agencies.It is best to ask an attorney or accountant for assistance in this matter as each industry is regulated differently.You can consult the U.S. Small Business Administration's website or contact your local Chamber of Commerce.
Step 15: You need to register with the Wisconsin Department of Revenue.
State law requires your company to register with the Wisconsin Department of Revenue.You can do this on the internet.You can fill out the form and mail it to the address on the top of it.
Step 16: Your company's annual report needs to be filed.
State law requires every limited liability company in Wisconsin to submit an Annual Report form every year in order to make sure the information in your Articles of Organization remains current.The Department of Financial Institutions will give you instructions on how to file the Annual Report for your company before it's due.You must pay a fee to complete the Annual Report online.