Planning to start a business in Wisconsin? If so, one of the first steps is to give your business a name. You might not be aware that there’s a naming process in Wisconsin.
A new business must select an available name, which means the name you want can’t already be in use by another company in Wisconsin. How do you know if it’s in use? The state has a helpful search tool on its site. You’ll run a business name search to see if the name you want is available. If it’s available, you can register it. If it’s already in use, you’ll need to come up with a new name.
We’ll explain how a business search works and provide some tips to get your LLC off the ground in Wisconsin.
Go to:
How to check business name availability in Wisconsin
As mentioned, you can’t just pick any name for a Wisconsin business, it must be unique and available. How do you find out if a certain name is available? Here’s how:
1. Go to the Wisconsin Secretary of State website
The Wisconsin Secretary of State website has a simple search tool that you can use to check name availability.
2. Enter keywords
Enter your desired business name in the search bar. Then select “Name availability” to the right of the search bar.
3. Run the search
Next, just click “Search.” The site will return results that have an exact match. If there’s an exact match, the name is not available. If there’s no match, the name is available for you to use.
Wisconsin law says no two businesses in the state can have the same name, so you should keep searching for names until you find one that’s available. And keep in mind that adding “LLC” or “Company” to a business name that is already in use will not result in a new version unique enough to count as its own separate name.
4. Consider reserving a name
After running a Wisconsin business name search, you have two options: You can reserve a name or you can register the name. You should reserve the name if you aren’t planning to set up the business immediately.
Wisconsin allows business owners to reserve a name for 120 days for $15. There is an option to pay an additional $25 for expedited service.
To do so, you’ll fill out a quick form and provide the payment.
Again, you don’t need to reserve a name if you plan to officially set up your business with the state of Wisconsin, but if you’re just doing some homework and plan to set up your business later, reserve the name now so it’s not taken when you’re ready.
5. Check domain name availability
We created a tool that makes it easy.
How to name your Wisconsin business
Now that you know a little more about the business landscape in the state, it’s time to start generating a list of names for your business. To do so, follow these steps:
1. Write down basic details about your business
Start by creating a verbal picture of your business. Think about what your business will offer and who it will serve. Will you sell a specific product or service? Who’s going to buy it? Jot down a few details about your company as a starting point.
Next, start creating a list of adjectives that describe your business. Think in terms of keywords. What keywords would your customer use to find the product or service that you offer? Write them down.
2. Stay away from initials and hard-to-say words
There are plenty of businesses that include initials, like A&J Plumbing, but consider upping your game with something a bit more creative and descriptive.
The same goes for names that are hard to say. If your last name is Stackowaski, for example, it’s not conducive to a business name because it’s too hard to pronounce.
3. Don’t pigeon-hole your business
Be careful not to select a name that limits your company’s potential growth. Think about where your business will be in five, ten, even twenty years, and take that into consideration when creating a name.
A company named Bob’s Bargain Books, for example, is a good name, but what if they plan to sell vintage records and cassettes down the road? The name only refers to books, so when vintage music is added people won’t associate it with the store.
4. Consider using a name generator
At this point, you probably have a list of a few ideas. Rather than brainstorm a bunch of different combinations, why not try a name generator? You simply enter a few of the adjectives that you came up with into the search bar and you’ll get a list of possible names.
Name generators can take some of the hassles out of creating a name. Most name generators will only show you available names too, which is helpful.
Check out some of Namechk’s name generators below:
What kind of business structure is right for your Wisconsin company?
As you research available business names in Wisconsin, you’ll also want to think about what kind of business you want to establish. There are a handful of options to choose from, but some of the most common are Sole proprietorship and LLC.
- A sole proprietorship is ideal for small businesses with no employees that want to test their business out. There’s virtually no paperwork to set up this kind of business, which is a plus. However, a sole proprietorship is not a separate business entity, which means you’re financially and legally responsible for any problems that might arise.
- An LLC, or limited liability company, provides a certain amount of liability protection. Your personal assets and your business are separate with this business structure, which means if the business is sued or goes bankrupt, you will not be forced to use your personal cash reserves to bail the business out.
Steps to register your Wisconsin business
Ready to set up your business in WI? Here’s what you do:
1. File your Articles of Organization
Visit the Wisconsin Secretary of State website and fill out the Articles of Organization. To fill this out, you’ll need to have an available business name, address, and contact information.
2. Name a registered agent
You’ll also need to name a registered agent. A registered agent is the point-person for your company who will receive important documents like tax notices or legal documents.
A registered agent must be trustworthy and be available during regular business hours when documents are delivered. The business owner can serve as the registered agent in Wisconsin, or another person or company can be named.
You might decide to name your accountant or co-founder, for example. You can also hire a registered agent service to serve in this role. Northwest Registered Agent, ZenBusiness, and Bizee are a few examples. These companies will receive documents on your behalf and notify you of their arrival.
3. Pay the filing fee
Every state charges a filing fee to file LLC formation documents with the government. In Wisconsin, the cost is $170. There is also an option for expedited service for an additional $25.
4. Wait for approval
Wisconsin will review your application and typically provides approvals within five business days. Once approved, your business is officially set up.
Our picks of the best registered agent services
Wisconsin small business facts
Before you start considering business name availability in Wisconsin, take a look at these small business statistics from the U.S. Business Administration:
- Wisconsin small businesses employed 1.3 million people, or 49.5%of the private workforce, in 2017.
- The number of proprietors increased in 2018 by 2.7% relative to the previous year.
- Small businesses created 15,315 net jobs in 2019. Firms employing fewer than 20 employees experienced the largest gains, adding 13,489 net jobs. The largest losses were in firms employing 20 to 99 employees, which lost 929 net jobs.
- In the fourth quarter of 2019, Wisconsin grew at an annual rate of 2.1%, which was the same as the overall US growth rate. Wisconsin’s 2019 overall growth rate of 1.4% was down from the 2018 rate of 2.4%.
- Private-sector employment decreased 15.6% during the 12-month period ending in April 2020. This was below the increase of 0.7% during the prior 12-month period.
- In April 2020, the unemployment rate was 14.1%, up from 3.3% in April 2019. This was below the April 2020 national unemployment rate of 14.7%.
- Firms with 20 to 99 employees have the largest share of small business employment. Figure 1 provides further details on firms with employees.
- The median income for self–employed individuals at their own incorporated businesses was $50,560 in 2018. For self–employed individuals at their own unincorporated firms, median income was $24,701.
FAQs
To further help entrepreneurs, check out these frequently asked questions about starting a business in Wisconsin:
Why is it so important to check on business name availability?
Wisconsin will not allow two businesses in the state to have the same name. There are many reasons for this, but at its core, it’s to avoid any confusion. For example, if someone plans to sue Bob’s Fruit Stand and there are two of these companies in the state, things can get complicated quickly.
All businesses must have a unique name. And, you can’t just add a hyphen to a name to make it different. Each name must be “distinguishingly different.”
Does Wisconsin have an annual LLC tax?
Yes. The state of Wisconsin does require that LLCs file an annual report for tax and record purposes along with a fee of $25.
Are Wisconsin Businesses required to get an Employer Identification Number (EIN)?
Wisconsin employer identification number (EIN) is required for employers who pay wages subject to withholding of Wisconsin income tax or other persons with a withholding requirement.
Most businesses also need a federal EIN, which is issued by the IRS. You can get one online in about five minutes.
Does Wisconsin require an operating agreement?
No. Wisconsin does not require you to submit an operating agreement to set up a company in the state. However, just about every business expert will tell you it’s a good idea to create one.
An operating agreement explains how the company will work. It provides a comprehensive look at its daily operations, who’s in charge, and how profits and losses are managed.
An operating agreement is usually created during the infant stages of a business and updated as the business grows.
While the document isn’t something you have to submit to the Wisconsin state government, it’s not something you should skip. A lawyer can help you draw an agreement up or you can always find a template online to get started.
Is a seller’s permit required in Wisconsin?
A seller’s permit is required for every organization making retail sales, leases, or rentals of tangible personal property or taxable services in Wisconsin unless all sales are tax exempt. Apply for a Seller’s Permit Number online using the Business Tax Registration form available from the Wisconsin Department of Revenue.
This is the same form used to get your Wisconsin Employer’s Identification Number (EIN). Sales to customers outside of Wisconsin may be subject to tax. This is an issue especially, though not exclusively, for mail order and/or internet-based businesses.
Are there financial assistance programs for startups in Wisconsin?
Yes. Like many states, Wisconsin has put several funding streams in place to help new entrepreneurs. Check out this list of financing options.
You might also consider looking at federal loans or grants. You can search for opportunities on USA.gov. Although, be aware that the application process can be lengthy and the competition is fierce.
How do you dissolve a business in Wisconsin?
To dissolve a business in Wisconsin, it’s a multi-step, multi-agency process. The business must pay all past tax debts, file a final tax return with the state, and notify certain agencies of the closure by submitting the Articles of Dissolution form. The State of Wisconsin Franchise Tax Board has step-by-step information on its site that owners should reference.
CHK_ YOUR NAME RIGHT NOW
Use our engine to quickly check your content right now!
