Contact: Gail Gawenda
March 13, 2006 608:267-1711
Additionally, last Friday Governor Jim Doyle signed into law Senate Bill 496, which will put LLCs on an equal footing with corporations by giving them the same privileges of unlimited reinstatement after business dissolution. LLCs had been restricted to a 30-day time frame while corporations had no time limitation.
“We’ve also made it easier for LLCs to be created by streamlining the process,” says DFI Cabinet Secretary Lorrie Keating Heinemann. “Applicants can do their entire application by computer—online—by going to DFI’s website at www.wdfi.org.
“The LLC business structure also encourages small business growth,” she said, “because it offers the entrepreneur an easier way to set up shop, it offers the tax benefits of a partnership, and it provides the legal protections of a corporation without the cumbersome corporate structure of a board of directors and officers.”
“My Grow Wisconsin plan called on state agencies to encourage growth in the state’s economy by making government more responsive and efficient,” said Governor Jim Doyle. “I am pleased DFI has followed this directive by making it easier for new businesses to form in our state.”
For more information on how to create a new business in Wisconsin, visit www.wdfi.org.