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#HOW TO OBTAIN A SMALL BUSINESS LICENSE WISCONSIN REGISTRATION#

This is an issue especially, though not exclusively, for mail order and/or internet based businesses. Sales to customers outside of Wisconsin may be subject to tax. This is the same form used to get your Wisconsin Employer’s Identification Number (EIN).

#HOW TO OBTAIN A SMALL BUSINESS LICENSE WISCONSIN REGISTRATION#

Apply for a Seller’s Permit Number online using the Business Tax Registration (BTR101) form available from the Wisconsin Department of Revenue at 60, *protected email*.

When an owner dies or stops operations the business ends.Ī seller’s permit is required for every organization making retail sales, leases, or rentals of tangible personal property or taxable services in Wisconsin, unless all sales are tax exempt.

But remember, if you sign a personal guarantee, regardless of your legal structure, you are fully liable for all debt.

The owner has unlimited personal liability for business obligations and liabilities.

Profits and losses are claimed on the owner’s personal income tax return.

You have the freedom to do business without elaborate formalities.

There is minimal government reporting requirements.

A sole proprietorship is the easiest entity to form and has low start-up costs.

This is easy to do and establishes credibility for your business. You may voluntarily register with the County Registrar of Deeds and the Wisconsin Department of Financial Institutions 608/261-9555. Wisconsin Statutes do not require registration for a sole proprietorship. For example: If John Doe owns a business called EAT HERE, the business is legally identified as John Doe DBA EAT HERE. If the name of the business is different from the person’s name, it is called a DBA or “Doing Business As”. Obtaining the required licenses and permits establishes the business.

Ownership is not transferable, unless addressed in the operating agreement.Ī Sole Proprietorship is owned and operated by one person.

It is more expensive to organize compared to a sole proprietorship, but less than a corporation.It is easy to convert an LLC to a corporation.For tax purposes, profits and losses pass-through to the owners.As the name states, with an LLC, an owner’s personal liability is limited (unless there are personal guarantees).The owners must file Articles of Organization and register the business with the Wisconsin Department of Financial Institutions, 608/261-9555. An LLC separates personal and business assets. Limited Liability Company (LLC) is the most used business entity in Wisconsin. How do I know if I need an LLC or a Sole Proprietorship? It does make it easier to avoid duplication. This registration does not give name protection beyond that of common law. Your business name can be a very important marketing consideration therefore, you may want to register it with your County Register of Deeds. (This is the same form used to obtain a seller’s permit.) Do I need to register my business in Wisconsin?īusinesses operating as Corporations, Not-for-Profit corporations, Cooperatives, Limited Partnerships, Limited Liability Companies, Limited Liability Partnerships, Common Law Trusts, Foreign (out-of-state) entities of the same types licensed to transact business in Wisconsin, Veterans and certain types of religious organizations must register with Wisconsin Department of Financial Institutions. Apply for this number online at the Business Tax Registration (BTR101) form available from the Wisconsin Department of Revenue at 60 or *protected email*. Wisconsin employer identification number (EIN) is required for employers who pay wages subject to withholding of Wisconsin income tax or other persons with a withholding requirement. If the business changes to a partnership or corporation, or if it hires employees, then a FEIN will be required. However, getting a FEIN in these cases may be wise because chances are a business may be asked for its FEIN in the course of doing business and it prevents the owner’s social security number from being used as the company’s identification number. The owner’s social security number may be used instead. The IRS uses this number to identify taxpayers who are required to file various business tax returns.Ī business is not required to have a FEIN if it has no employees and is organized as a sole proprietorship or Limited Liability Company with one member. Complete an Online Request FAQ: How do I get a FEIN number?įEIN is a nine-digit number that the IRS assigns to business entities.