Why create a Wisconsin LLC?
Everyday thousands of businesses across America form LLCs for at least one specific reason - to protect the owners' personal assets. The formation of an LLC creates a separate legal business entity, keeping the debts and obligations of the LLC confined to the assets of the LLC.
LLCs are also much simpler to run and operate than their corporation counterpart. Many business owners feel that running an LLC is little different than running a sole-proprietorship or partnership.
This easy operation and liability protection make LLCs a great business structure.
Forming a Wisconsin Limited Liability Company
To create a new LLC in Wisconsin, the new entity is required to file Articles of Organization with the Department of Financial Institutions under Chapter 183 of the Wisconsin Statutes.
Articles of Organization for a Wisconsin LLC must include a unique name (with appropriate ending), the name and address of the registered agent, declaration of management type (managed by managers or managed by members/owners), as well as the name and address of one or more organizers.
Tips for a good LLC name
A Limited Liability Company that is to be formed in the state of Wisconsin must include Limited Liability Company, Limited Company or an abbreviation. A Limited Liability Company formed in Wisconsin may not have the same name as an existing Corporation, LLC or other legal entity. The name of the LLC must be distinguishable from that of another entity. To determine whether a name is distinguishable, the Secretary of State will ignore the use of conjunctions, prepositions or articles used in the name of a LLC. The Secretary of State will also ignore the use of capitalization, spaces and plural forms of words or special characters. There are some words that are regulated in its use in a company name such as “insurance”, “bank”, “cooperative.” and others.
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