Suing Dissolved Corporations Wisconsin
Summary
In Wisconsin, you generally cannot sue a dissolved corporation unless the claim arose before dissolution. To start an LLC, file Articles of Organization, appoint a registered agent, and consider creating an Operating Agreement. An LLC offers limited liability protection, shielding personal assets from business debts, unless exceptions like personal guarantees or fraud apply. Consider consulting a local attorney for specific legal advice.Full Conversation
What is needed to start an Wisconsin LLC
To start an LLC in Wisconsin, you need to:
- Choose a name for your LLC.
- File Articles of Organization with the Wisconsin Department of Financial Institutions.
- Appoint a registered agent.
- Create an Operating Agreement (optional but recommended).
- Obtain an Employer Identification Number (EIN) from the IRS.
Would you like more detailed guidance on any of these steps?
Wisconsin LLC vs Incorporation
To choose between an LLC and a corporation in Wisconsin, consider:
- LLC (Limited Liability Company):
- Offers flexible management structure.
- Pass-through taxation (profits taxed on personal tax returns).
- Fewer formalities and paperwork.
- Corporation:
- Offers limited liability protection.
- Ability to issue stock and raise capital.
- Subject to double taxation (corporate and personal taxes).
Do you have specific goals for your business that might help decide which structure fits best?
Does an LLC offer limited liability protection
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Yes, an LLC (Limited Liability Company) does offer limited liability protection. This means the personal assets of the owners are generally protected from business debts and liabilities. Would you like more information on how this protection works?
Yes
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Limited liability protection in an LLC generally shields personal assets from business debts. Here’s how it works:
- Owners are not personally liable for business debts.
- Personal assets are protected from lawsuits against the business.
- Exceptions exist for personal guarantees or fraudulent activities.
Feel free to ask if you need more details!