Wisconsin LLC Operating Agreement

Remember, a well-crafted Operating Agreement is more than just paperwork—the roadmap guides your company toward success. Invest in clarity, protection, and peace of mind with our Wisconsin LLC Operating Agreement template.

Key Takeaways

• Wisconsin law does not mandate an LLC to have an operating agreement. However, it is strongly recommended to draft one to define internal operations, ownership structure, and member responsibilities. 
• Utilize our free Wisconsin LLC Operating Agreement template to ensure compliance with state regulations.
• To form an LLC in Wisconsin, you’ll need to file Articles of Organization with the Wisconsin Department of Financial Institutions, appoint a registered agent, and fulfill the required filing fee.

Wisconsin LLC Operating Agreement Templates by Type

Single Member LLC

Basic Single Member LLC Operating Agreement

Used 4,920 times

Are you required to uphold your limited liability corporation status in accordance with state law? If the business is sued, the owner’s assets may be safeguarded by this agreement.

Use Basic Single Member LLC Operating Agreement

Use this operating agreement template in Wisconsin when there is a sole owner of the LLC.

Multi Member LLC

Multi-Member LLC Operating Agreement Template

Used 4,872 times

Ensure that your newly formed LLC is run the right way by having a multi-member operating agreement in place.

Use Multi-Member LLC Operating Agreement Template

Utilize this operating agreement template in Wisconsin when several members co-own the LLC.

50/50 LLC

50/50 LLC Operating Agreement Template

Used 4,872 times

This free 50/50 LLC Operating Agreement template for businesses with equal ownership.

Use 50/50 LLC Operating Agreement Template

Use this operating agreement template in Wisconsin when two equal partners split ownership and management duties within the LLC.

Member-managed LLC

Member-Managed LLC Operating Agreement Template

Used 4,919 times

A manager is chosen by the firm owners to oversee day-to-day operations in a manager-managed LLC. Use this Member-Managed LLC Operating Agreement Template right away.

Use Member-Managed LLC Operating Agreement Template

Consider this operating agreement template in Wisconsin when the LLC’s management responsibilities are delegated to appointed members.

Legal Requirements

1. Formation:

• Operating Agreement: While not legally mandated, having an Operating Agreement is highly advisable for state LLCs. This document outlines crucial aspects of your company’s structure and operations.
• Name: When choosing a name for your Limited Liability Company, include “Limited Liability Company” or “LLC.” Be cautious not to infringe on existing LLCs or service marks other businesses hold.

2. Operating Agreement Importance:

• Clarity and Consistency: An Operating Agreement establishes rules for decision-making, voting, and day-to-day operations. When it’s used, all parties are in agreement.
  • Ownership Transfers: When a member wants to transfer their ownership stake, the Operating Agreement provides clear guidelines.
  • Profit and Loss Distribution: The equitable distribution of gains and losses is critical. The Operating Agreement defines how this occurs.
  • Dissolution Procedures: In case of dissolution, having predefined steps minimizes confusion and potential disputes.

How to Form LLC in Wisconsin

Here’s a step-by-step guide on how to form an LLC in this state:

1. Choose a Business Name:
   • Select a unique name for your LLC that complies with Wisconsin’s naming criteria.
   • Ensure it’s distinguishable from other business entities in the state.
   • Conduct a quick business name search on the state website to verify availability.
   • Consider reserving your chosen name by filing a name reservation application (valid for up to 120 days) for a nonrefundable fee of $15.
2. File Articles of Organization:
   • Submit the Articles of Organization with the Wisconsin Department of Financial Institutions (DFI).
   • You can complete this process online or through other filing methods.
3. Appoint a Registered Agent:
   • It would help if you assigned a registered agent for your Limited Liability Company.
   • The registered agent accepts official documents on behalf of your business.
4. Draft an Operating Agreement:
   • An Operating Agreement is highly recommended, even though it’s not legally mandatory.
   • The Operating Agreement outlines key aspects of your LLC’s operations, including decision-making, profit distribution, and member roles.
   • It provides clarity and consistency for your business.
   • You can create a customized Operating Agreement or use templates available online.
5. Obtain an Employer Identification Number (EIN):
   • The Internal Revenue Service (IRS) requires businesses to apply for an EIN to ensure proper tax compliance. 
   • Obtaining an EIN is important not just for tax reasons but also for hiring employees and opening a business bank account.
   • You can apply online through the IRS website.
6. Open a Bank Account:
   • Set up a separate business bank account for your company.
   • Maintaining a clear distinction between personal and business finances is important to preserve liability protection.
   • Visit local banks or credit unions to explore business account options.

Wisconsin LLC Laws

1. No State Income Tax:
   • Wisconsin LLCs enjoy the benefit of no state income tax. This can be advantageous for businesses seeking tax efficiency.
   • For more details, refer to the Wisconsin Department of Revenue’s Business Tax Information.
2. Annual Reporting Requirements:
   • Wisconsin LLCs must submit an annual report to the Wisconsin Department of Financial Institutions (DFI).
   • This report ensures that the state has up-to-date information about your LLC.
   • Visit the Wisconsin One Stop Business Portal for reporting details.
3. Registered Agent Requirement:
   • The registered agent receives legal documents and notices on behalf of the business.
   • You can be your registered agent if you meet the residency and age requirements.
4. Foreign LLC Registration:
   • If your company operates in the state but was formed in another state, you must register as a foreign LLC in Wisconsin.
   • Compliance with state laws ensures smooth business operations.
5. Real Estate Considerations:
   • LLCs should adhere to the state’s property laws when dealing with real estate transactions.
   • Consult legal experts to navigate property acquisitions, leases, and related matters.
6. Employment Laws:
   • As a Limited Liability Company employer in Wisconsin, be aware of state and federal employment laws.
   • Topics include wage regulations, workplace safety, and employee rights.