Wisconsin LLC Annual Report – File an LLC Annual Report in Wisconsin


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Wisconsin LLC annual report filing in Wisconsin.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a Wisconsin LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

Wisconsin LLC Annual Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Wisconsin Annual Report is filed with the Wisconsin Department of Financial Institutions.

Does the State of Wisconsin Require an Annual Report Filing?

Every Business Entity in Wisconsin must file an Annual Report. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.

Annual Report Deadline

As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in Wisconsin has to file the Annual report every year within the same quarter, in which the LLC was formed with the Wisconsin Department of Financial Institutions. The quarterly filing dates are March 31, June 30, September 30, and December 31. For example, If an LLC was formed between January 1 & March 31, the filing date for that LLC will be March 31.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. Any Annual Report filed after the deadline will lose its good standing status. Further failure to file the annual report will cause the dissolution of the LLC.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to File a Wisconsin LLC Annual Report

The Wisconsin LLC Annual Report can be filed online only. Any Annual Report filed after the deadline will lose its good standing status. Further failure to file the annual report will cause the dissolution of the LLC.

Steps to File Wisconsin LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the Wisconsin LLC Annual Report online.

  1. Visit Wisconsin’s One Stop Business.

    Your first step in filing the Wisconsin Annual Report is to visit Wisconsin’s One-stop Business Portal. wisconsin-llc-annual-report

  2. Click on the File my Annual Report Today tab.

    Click on the File my Annual Report Today Tab at the top of the page. wisconsin-llc-annual-report

  3. Enter your Business Name or Entity ID in the Search Box.

    Enter your Business Name or Entity ID in the Search Box & click on the search button. Choose the Correct business name & start filing the report online. wisconsin-llc-annual-report

Wisconsin LLC Annual Report (Domestic & Foreign)

State Office:Department of Financial Institutions, 421 NW 13th,
Suite 210, Wisconsin  City, OK 73103
Links to Website
Due Date:An LLC operating in Wisconsin has to file the Annual report every year within the same quarter, in which the LLC was formed with the Wisconsin Department of Financial Institutions. The quarterly filing dates are March 31, June 30, September 30, and December 31. For example, If an LLC was formed between January 1 & March 31, the filing date for that LLC will be March 31.
Filing Fee:The Annual Report filing fee is $25.
Penalty:Any Annual Report filed after the deadline will lose its good standing status. Further failure to file the annual report will cause the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online only
Forms:
Important Information:Once a Domestic or Foreign Wisconsin Limited Liability Company submits the Annual Report along with the prescribed fees to the Wisconsin Department of Financial Institutions, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a Wisconsin Registered Agent here.

How Fast Can I Fill Wisconsin LLC Annual Report

If you’re a new business owner and wondering “How fast can I fill out a Wisconsin LLC annual report?”, you’re not alone. The state requires that businesses file annual reports to stay in good standing. Failing to file your annual report on time can lead to the dissolution of your Wisconsin LLC by the Department of Financial Institutions. Fortunately, there are registered agent services that can make this process as easy as possible.

The first step to filling out an LLC annual report in Wisconsin is to obtain a business license. The process is relatively straightforward and similar to that of most other states. The best way to get started is to follow a guide. You’ll need to check if the name you want to use for your business is available in Wisconsin. If not, try searching on the State of Wisconsin’s website. Make sure the name isn’t already taken by another business.

Once you have the documents necessary, the next step is to choose the person to file your Wisconsin LLC annual report. The most common mistake made by small business owners is selecting the wrong person for this task. Using an automated filing system will streamline the process and keep you on track of your documents. It will also help you track upcoming documents, such as the annual report. When you file your Wisconsin annual report, you’ll have more time to focus on other tasks, like product ideation, rollout, and customer service. Remember, you’re still working hard to meet your customers and pay your employees.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

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