[WI] I just started an LLC, what are the next steps?

Jon

Hello and thank you for reaching out! I’m Jon, a licensed attorney with over 13 years of experience, and I’m here to help.

I understand legal matters can feel overwhelming, but you’re in good hands. I’ll do my best to make things clear and guide you toward the right solution for your situation.

Jon

First, could you let me know where you're located?

Jon

Absolutely, I can help with that. Following all legal laws is important for your business. Could you tell me more about the specific activities or services your LLC will be involved in? This will help me provide more tailored advice.

Jon

As well as what state the LLC if formed in?

Jon

Thanks for sharing that! It sounds like an exciting venture.

Jon

I believe I have all the information I need. Is there anything else you'd like to add before I start working on your answer? If not, I’ll get started right away.

Jon

Got it! Just need a few minutes to finish typing a full response for you. It won’t take long—about 4 or 5 minutes—because I want to make sure it’s thorough and thoughtful. Thanks for your patience!

Jon

Starting an LLC is exciting, but it also means following a few important rules so you stay compliant with both Wisconsin law and the IRS. With your LLC set up in Wisconsin, along with your website, and a physical location, here’s what making sure you’re “legally covered” really comes down to.

At the state level, you’ll want to confirm you filed your Articles of Organization with the Wisconsin Department of Financial Institutions. It’s also smart to create an Operating Agreement, even if you’re the only owner, since it lays out how the business is run and protects you down the line. On top of that, make sure you have any licenses or permits required for your specific type of business and location.

For the IRS, the first step is getting an Employer Identification Number (EIN), which works like a Social Security number for your business. From there, you’ll need to understand how your LLC is taxed. If you’re the only member, your business income and expenses flow into your personal tax return.

If you have multiple members, it’s treated as a partnership. You also have the option to be taxed like a corporation, and a tax professional can help you decide what’s best. Setting up an IRS business account online is also useful—it lets you pay taxes, track filings, and manage your records.

Jon

sounds like your business may be in fintech. If so, you may have extra legal obligations. This could include financial regulations, strict rules about handling data and privacy, and the need to protect your intellectual property with trademarks or copyrights.

In short, your next steps are: make sure your LLC is in good standing with Wisconsin, set up your IRS connection with an EIN and tax account, and, since your business may involve financial regulations, consult both a lawyer and a tax advisor. That way, you’ll know you’re fully protected at the state, federal, and industry levels.

In terms of finding a lawyer locally to help you, finding a highly-rated and trustworthy lawyer in your area is straightforward! You can visit www.Avvo.com, a well-regarded lawyer review site, to search for legal professionals who can assist you with your case.

Or the Wisconsin Bar can refer you.

Jon

Very welcome, glad I was able to help!