If you have a limited liability company (LLC) in Wisconsin, you must file an annual report to keep your business in good standing. It’s a relatively painless process that can be done online.
What Is an Annual Report?
An annual report verifies your business information and tells the state of Wisconsin that your LLC is still operating. In addition, keeping up with annual reports is a legal requirement that enables you to obtain a Certificate of Status, which a bank or creditor might request to confirm your compliance.
In Wisconsin, the following information is required for the annual report:
How to File an Annual Report in Wisconsin
To file your annual report in Wisconsin, visit the One Stop Business Portal and click “File Now.”
Then search for your business record and complete the required information.
The filing fee is $25, and reports are due by the end of the quarter in which your LLC was initially formed.
If You Do Business in Other States
If you do business in other states, be sure to register in those states as a foreign LLC. For example, if your LLC is registered in Wisconsin and you start doing business in Florida, you’ll need to register in Florida as a foreign LLC.
You’re generally required to register as a foreign LLC if:
- You have a physical presence of any kind in that state
- You have employees in that state
- You regularly meet with clients, managers, or investors in that state
- You are licensed to do business in that state
Once you’ve registered as a foreign LLC, your business will need to follow the annual reporting requirements of that state and pay taxes in that state.
Filing an annual report in Wisconsin is relatively easy and crucial to smooth business operations.
Failing to file an annual report can result in serious penalties, as can filing an inaccurate report.
Review all your business information and file your report on time to ensure your LLC remains in good standing.