Forming
Your Business
personal income tax returns for any dividends paid to the shareholders). There are two types of
corporations: C and S. The distinctions between an S Corp and a C Corp can be very complicated
and very dramatic. It is important that you consult a professional prior to filing for either status. To
incorporate your business you must file paperwork with the State of Wisconsin. Once incorporated,
you will be required to register and pay fees annually.
The limited liability company (LLC) is a form of business entity that includes some of the
characteristics of the other business entities. The owners are known as members, and the LLC
shields its members from personal liability like a corporation; however, the profits generated by the
business pass through the business entity and are taxed at the members’ individual levels. As with
all formal business entities, it is created by Wisconsin’s Department of Financial Institutions by filing
the necessary paperwork and fees.
An attorney can handle the creation of your business entity for you. In addition to creating your
business, there are many additional activities that must be performed, as well. An attorney will
advise you and assist you concerning those other requirements, as well.
More Information can be found by contacting the Wisconsin Department of Financial Institutions
at:
201 W Washington Avenue, Suite 500
Madison, WI 53703
Telephone: (608) 261-9555
Fax: (608) 261-7200
https://www.wdfi.org/corporations/
Greater Area Tomah Chamber of Commerce
Page |19