Filing a Wisconsin Corporation
First-time owners could find a Wisconsin Corporation advantageous because it offers numerous tax benefits. It also allows owners to gain instant credibility with customers and clients. However, owners should also be careful during the filing process. There are many steps involved with creating a Wisconsin Corporation, and each requires attention to detail.
Steps To Filing a Corporation
Choose A Name
The first thing that those looking to form a business should do is choose a name for their entity. The state of Wisconsin requires companies to include an indicator in their name. In this case, owners are going to want to add something like, “Incorporated,” “Corporation,” “Limited,” or “Company” to their name. They could also add an appropriate abbreviation, such as “Inc.”
Furthermore, owners will also want to make sure that the name they choose is unique. That’s because Wisconsin does not allow two Corporations to share a name. To prevent this from happening, new business owners can use the DoMyLLC Name Availability Check Page.
Choose An Agent For Service Of Process
After choosing a name for their company, owners will then need to find a registered agent. The registered agent is responsible for accepting all legal correspondence on behalf of the company. Their role is vital and could determine the success of a new Wisconsin Corporation. Owners would be wise to consider hiring a professional third-party company, such as DoMyLLC, to serve as their registered agent.
File Articles Of Incorporation & Pay Filing Fees
Once owners have secured a name and registered agent, they can file Articles of Incorporation with the Corporation Section of the Wisconsin Department of Financial Institutions. There is a $100 fee to submit these forms, along with an optional $25 expedite payment. Information that owners will need to provide on these forms includes:
- The name of the company
- How many shares the Corporation is authorized to issue
- Name and street address of the registered agent
- Other provisions
- Name and address of each incorporator
- Incorporator’s signatures
- Name of the individual who drafted the document
- Email or postal mailing address for the filed copy of the document
File Initial Report
The state of Wisconsin does not require companies to file Initial Report, but they could be necessary when expanding across state lines.
Create Corporate Bylaws, Appoint Directors And Hold Meetings
After submitting the Articles of Incorporation, members will need to hold an initial corporate meeting. Those who filed Articles of Incorporation are responsible for overseeing the initial meeting. Incorporators should appoint individuals to the board of directors at this meeting and record this information in the corporate records. Directors will serve on the board until the next annual meeting of the shareholders, where they will be up for re-election.
Once the board is in place, directors can define corporate roles while electing officers. Directors will also need to draft corporate bylaws. Bylaws are a private, internal operating manual. The board of directors must adopt a set of bylaws before the Wisconsin Corporation can exist or conduct business. Furthermore, many banks and insurers request to see proof of bylaws before engaging in activity with a Corporation.
While at the initial corporate meeting, the board of directors will also need to issue stock. The amount of stock that they can release was defined in the Articles of Incorporation. The board is the only entity with the authorization to issue stock, and they are responsible for doing so throughout the life cycle of the Wisconsin Corporation. The board will also want to begin to maintain a ledger. This will promote transparency for investors, thereby protecting the corporate veil.
Obtain Employer Identification Number
The Wisconsin Corporation will also need to contact the IRS to secure an Employer Identification Number. This allows the company to hire new employees, file taxes, and open a business bank account.
File Wisconsin Required Annual Reports
Officers will need to file an Annual Report each year. It costs $25 to register this form online or $40 to submit it by mail. The report is due by the end of the registration anniversary quarter. So, if a company is incorporated on January 29th, the report is due by March 31st. The quarters end on March 31, June 30, September 30, and December 31. Learn more at our Wisconsin Annual Report page.
Officers of the Wisconsin Corporation will also need to file state and federal taxes and renew all licenses and permits each year.
How DoMyLLC Can Assist With Streamlining The Process
At DoMyLLC, we offer comprehensive administrative solutions. Our services include:
- Name availability check
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Secretary of Wisconsin’s office
- Provide sample bylaws, meeting notices and minutes for meetings
- Dedicated account manager
- Unlimited customer support
Contact our team today to learn more about how we can help you form and maintain your Wisconsin Corporation.