#How to obtain a small business license wisconsin registration#

Patent & Trademark Office (USPTO) manages the registration of trademarks.Д«efore settling on a name, you will want to first check and make sure the name you want to use isnвЂ™t already registered to another business. Related: Check the availability of corporation and LLC names in WisconsinДЄ trademark can legally stop others from using names, slogans, or logos. Registering a Wisconsin Business Name for a Corporation or LLCД¬orporations and LLCs have to pick a name when filing for the entity, and each corporation/LLC has to be uniquely named.

#How to obtain a small business license wisconsin how to#

Related: How to register a Trade Name in Wisconsin Registration is useful as most banks will ask for one before opening a business checking account. Handyman, etc., you can file a Trade Name registration.

#How to obtain a small business license wisconsin full#

If you are a sole proprietorship or general partnership in Wisconsin andВ doing business under your full first and last name, John Smith, for example, there is no filing, but if the business will operate under a fictitious business name or DBA (Doing Business As) like John SmithвЂ™s Handyman Service, Mr. Registering a Wisconsin Trade Name for Sole Proprietorships & General Partnerships Income can be taxed as a pass-through entity like the sole proprietor or partnership or as a corporation.ДЄfter deciding on the business entity, the next step in starting a business in Wisconsin is to register the business name. The Limited Liability Company does not have many of the burdens the corporation has and has the greatest tax flexibility of the four entities.

The Limited Liability CompanyВ (LLC) is a popular business entity choice because it provides the liability protection of a corporation with the sole proprietorshipвЂ™s ease of operation. Related: How to form a corporation in Wisconsin Also, there is no self-employment tax with a corporation, as income to the owner(s) will come from either a salary or dividends, which may be beneficial. Electing how the entity should be taxed is complicated, so be sure to talk with your CPA as there is the potential of double taxation where profits and dividends are both taxed. There are multiple ways a corporation can elect to be taxed, which include the C-corporation and S-corporation. The downside is the compliance requirements and administrative burdens of having a board of directors, annual meetings for directors and shareholders, taking minutes at the meetings, appointing a registered agent, and more. While corporations are more expensive and difficult to form than sole proprietorships and partnerships, the major advantage is that the corporation provides personal asset protection for the owners, should the corporation be sued. This income is subject to self-employment tax.ДЄ CorporationВ is a business structure that is a separate entity from the individual. Instead, profits and losses are passed through to the ownerвЂ™s personal tax return. The partnership itself does not pay tax from business income. If the partnership were to be sued, the partnerвЂ™s personal assets are equally at risk. Also, like the sole proprietorship, the partnership has unlimited liability. Like the sole proprietorship, there is no formal state filing. General PartnershipsВ consist of two or more people conducting a business together. Another potential downside is that the owner will pay self-employment tax on all business profits and may be more costly than some other entities. If the business is sued, the ownerвЂ™s personal assets are potentially at risk. The ease of startup is a big selling point however, a major downside to the sole proprietorship is that the owner is personally responsible for all debts and actions of the company. This is the easiest and least expensive of the four entities to set up as there is no state filing. A brief description of each is below.ДЄ Sole ProprietorshipВ is an individual that decides to go into business. There are four primary business entities: sole proprietorship, partnership, corporation, and Limited Liability Company (LLC). The business entity is sometimes referred to as a business structure or legal entity, which refers to how a business is legally organized. The next step to starting a business in Wisconsin is selecting a business entity.