If you own an LLC in Wisconsin and need to know how to close it, you’ve come to the right place. In this article, we’ll explain the steps you need to take to dissolve your Wisconsin LLC. We’ll also provide some tips on how to make the process as seamless as possible.

How to Close an LLC in Wisconsin?

Closing an LLC in Wisconsin involves multiple steps. The process can vary depending on the type of LLC and the number of members, but generally, the steps are as follows:

  • Follow your Wisconsin LLC Operating Agreement
  • Hold a vote with LLC members to dissolve the LLC
  • Record the dissolution vote in meeting minutes
  • File articles of dissolution with the Division of Corporate & Consumer Services of the Department of Financial Institutions (DFI)
  • Notify the Wisconsin Department of Revenue (DOR) of the dissolution
  • Notify other state and federal agencies (if applicable)
  • Complete the Request to Close Account in My Tax Account, or
  • Email [email protected], or
  • Call (608) 266–2776

Step 1: Follow Your Wisconsin LLC Operating Agreement

The first step to closing a Wisconsin LLC is to review the LLC’s operating agreement. This document outlines the rules and procedures for dissolving the company. Depending on what the agreement states, you may need to hold a vote with the LLC members to dissolve the LLC and record the dissolution vote in meeting minutes.

Step 2: File Articles of Dissolution with the DFI

After dissolving your LLC, you must file Articles of Dissolution with the Division of Corporate & Consumer Services of the Department of Financial Institutions. This can be done in person, by mail, or by fax. The required documents include Form 510 – Articles of Dissolution, a signed Certificate of Dissolution, and a filing fee. The filing fee is $25 for domestic LLCs and $50 for foreign LLCs.

Step 3: Notify the Wisconsin Department of Revenue (DOR)

You must also notify the Wisconsin Department of Revenue (DOR) of the dissolution. This can be done via phone (608-266-2776), email [email protected] or submitting a “Request to close my tax account” form. We suggest that you contact the DOR prior to filing the Articles of Dissolution to ensure that you have all the necessary information.

Step 4: Notify Other State and Federal Agencies

Depending on the type of LLC, you may also need to notify other state and federal agencies of the dissolution. This includes the Internal Revenue Service (IRS) and the Wisconsin Department of Workforce Development (DWD).

Conclusion

Closing an LLC in Wisconsin is a relatively straightforward process, but it is important to follow the steps outlined above to ensure that the dissolution is handled properly. If you need help selling your LLC or have any other questions, the experienced team at Atlantabusinesses.com can provide the answers you need. We have years of experience in the business brokerage industry and can help make the process of selling or closing your LLC as smooth and easy as possible. Visit our website today to learn more about our services.

What is the process for dissolving an LLC?

In order to completely shut down an LLC, you must submit a concluding tax return to both the state and IRS. Make sure to check the box that signifies that this is the LLC’s last return. You should also complete Schedule K-1 and give a copy to each partner so they can report their profits or losses on their own personal taxes.

What is the process for withdrawing from a Limited Liability Company in Wisconsin?

You must submit a withdrawal application to the Department of Financial Institutions, Division of Corporate and Consumer Services (DFI) in order to remove your foreign corporation or LLC from Wisconsin. The DFI withdrawal form must be used for this purpose.

What is the process for terminating my Wisconsin tax account?

To close your business tax account, you can either complete the Request to Close Account in My Tax Account, email [email protected], or call (608) 266–2776.

What is the process for restoring a Wisconsin LLC that has been dissolved?

To have your entity reinstated if it appears on the Certificate of Administrative Dissolutions, call our office at 608-261-7577 and ask for the relevant forms.