Changing the name of a business can be a big decision, but sometimes it’s necessary to better convey a new direction or focus. The process for changing a business name in Wisconsin depends on the type of legal structure your business has; whether it’s an LLC, corporation, partnership, or sole proprietorship. Read on to learn what steps to take to register your business’s new name appropriately with Wisconsin’s regulatory agency.
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Step 1: Search for Availability of the Name
Before applying to change your business’s name, it’s important to ensure the new name isn’t already in use by another business. You can easily search on the Wisconsin’s Department of Financial Institutions (DFI) website.
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If you’d like confirmation that your new name will be available before officially filing paperwork, there’s also the option to file an “Application for Reservation of Name.” For a fee of $15, the DFI will reserve your desired business name for up to 120 days, allowing you time to complete your filing process.
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Step 2: Follow the Formal Business Structure Requirements
The process of changing your business name can vary according to the structure used to register it. Below are the formal business requirements for each structure:
Limited Liability Company (LLC)
1. Gather the necessary documents
To file the Articles of Organization Amendment, you must provide the following information:
- Current name of the organization
- The new name of the organization
- Statement of good standing from the Counties Registry office in tax obligations
2. File the Amendment Form
File Amendment form to the DFI office suitable to the office jurisdiction should be sent to
the following address:
State of Wisconsin
Department of Financial Institutions
Division of Corporate & Legal Services
PO Box 7846
Madison WI
3. Make the Payments
The LLC requires fees of $50 for changing the name of the company.
Corporation
1. Gather the necessary documents
- A certified copy of the articles of incorporation
- A Certificate of Status issued from the Wisconsin Department of Financial Institutions (DFI)
- The company articles of incorporation amendment
2. File the Amendment Form
Once gathered the Articles of Amendment form have to be filed with the Wisconsin DFI.
3. Make the Payments
The fees charged for the amendment filing is $100.
Partnership
1. Required Documents
- Partnership Combining both Names
- The Registration statement from the Department of Regulation and Licensing agency
- Partnerships required failure to file or “out of existence” certificate issued by the Wisconsin Corporation Division stating there are no outstanding tax obligations from the signee.
Currently operating businesses must enclose surety bond or cash deposit pursuant to Section SPS 305.60(l)(d).
For new registrations- the Department will send you an email stating the amount of this deposit that you must supply for registration to be accepted.
2. Submit Paperwork
Partnerships based businesses must:
Mail all documents and required fees to the
Wisconsin Department of Financial Institutions
There are no exemptions from fees for these filings. All partnership business entities are required to pay an unused file fund fee drafted with the treasurer of Wisconsin (currently $10).
Sole Proprietorship
1. Required Documents
- Completing one or Wisconsin forms “Instructions for Completing Forms 1 and County 1:2003-383” and “Reserving a sole proprietorship name for organizational or business use”
- Completion of the IRC SC6418, applicable for business sales tax and identification adopt for proper changes needed for the restructured name.
2. Submit Paperwork
Final step consists filing all documents and required fees to:
- Regulation and Licensing
- Department of Revenue
Within 30 days of documenting information to the Wisconsin DFI office or an otherwise applicable office of organization jurisdiction outlining the costs for company restructure reliant on paperwork required by a service adviser should report for state cost assessments.
Step 3: Update Government Agencies and Others
Once you’ve filed the necessary documents to officially change your business name, it’s important to notify the applicable government agencies, marketplaces where you sell your goods/ products or services you customized beforehand , customers and suppliers and any other parties who may need to know about the name change, as well as update it on all marketing materials and identification cards/groups affiliated– verify mailing lists and reroute company letterheads with its new address whenever feasible marketing merchandise for preventative measures.
The businesses program in including with newly branded resources stimulates art material highlighting any differences in product advertisements and reconfiguring details explaining intrinsic changes that the business may implement into their protocols that define their corporate identification and strategy formerly specified.
Remember, it’s important to make changes in a timely manner and update contractual agreements and terms that will likely need updating.
Conclusion
Changing a business name can involve many steps with just as many varied requirements, which may differ depending on your business structure. Fortunately, the aforementioned below steps will work to make the latter or beginning of a new tailored enterprise easy and smooth from the outset and make sure that potential obstacles do not interfere with this process. It’s just a matter of being organized, informed, and in compliance with state regulations.
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