General Guide to Company Incorporation in Wisconsin
Updated on Monday 11th June 2018
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Wisconsin is the “Badger State” and the 20th most populous in the USA, known as a leading state for the large manufacture of dairy products that are mainly exported. Foreign investments are welcomed in Wisconsin and entrepreneurs can develop a wide range of businesses and generate important profits in this state. We have prepared a general guide to company incorporation in Wisconsin which can guide and help investors open companies in this state in a fast and reliable manner. Also, our team of company formation specialists in USA is at your disposal with assistance for starting a business in Wisconsin.
How can I open an LLC in Wisconsin?
If you would like to set up a limited liability company in Wisconsin, the suitable business form for most activities in this state, you should bear in mind the conditions and the formalities imposed in this matter. For instance, the main documents of the company, the Articles of Association, need to contain:
- the name of the shareholders and the country of residence;
- the name of the business and the address of the company in Wisconsin;
- details about the appointed board of managers for the LLC;
- the name of the appointed registered agent who acts on behalf of the company.
We remind that entrepreneurs from abroad can benefit from the services offered by our team of company formation agents in USA when they want to open a business in Wisconsin and can represent the LLC from a legal point of view.
Do I need an operating agreement for my company in Wisconsin?
It is not mandatory to have an operating agreement, but it is though recommended to create this internal governing document for an LLC in Wisconsin. This comprises information about the duties of the owners, their capital share contribution, the voting rights, the working relations between managers and shareholders, the structure of the ownership and details about company dissolution when it is the case.
What is the EIN?
The Employer Identification Number or simply the EIN is the company’s federal tax ID. This is the number of the company that it is issued by the IRS (Internal Revenue Service) and which shows that the business pays the taxes. The local IRS office accepts the main documents of the firm and then issue the EIN. Investors who want to open a business in USA can address their inquiries to our team of advisors at any time.
The sales tax in Wisconsin
The standard sales tax in Wisconsin is set at 5% rate, one of the lowest in the USA, which is imposed on different goods and services. It is good to know that municipalities of Wisconsin do not impose any sales tax. The lodgings tax and the rental tax are two important fees in Wisconsin that entrepreneurs should consider when opening a business.
Do I need a business license in Wisconsin?
Yes, entrepreneurs from abroad need to apply for a business license before commencing any activities. Such permit is issued by the local, federal and state administrations in Wisconsin, USA, under the regulations imposed. It is good to know that the Chamber of Commerce issues the local licenses and permits in Wisconsin.
What is workers compensation in Wisconsin?
The workers compensation is the necessary insurance issued for employers who want to be protected against legal complaints in cases of accidents involving employees. Such compensations are offered to workforces as payments in work-related incidents in the company.
Conditions for hiring employees in Wisconsin
From a legal point of view, foreign entrepreneurs who want to hire staff for their companies need to register for workers compensation, social contributions, register the employees and pay at least the minimum wage as stipulated by the laws of Wisconsin. We also mention that the Wisconsin Department of Workforce Development is in charge of the registration of employees in this state.
Economy facts about Wisconsin
Wisconsin is an important American state from an economic point of view and significant for the states’ gross domestic product (GDP). Ranked 21st among the American states with solid and prolific economies, Wisconsin relies on the excellent agriculture, tourism, food industry, financial services, IT and many more. Madison is the capital of Wisconsin and a representative destination for business. Milwaukee, Appleton, Green Bay, La Crosse, Middleton or Beloit can be excellent cities for opening companies and generate revenues in a wide range of sectors.
If you are interested in company formation in USA or if you would like to start a business in Wisconsin, we invite you to contact our team of company formation representatives in USA.