Thinking of Starting a Business in Wisconsin? Start Here.
Starting a business is exciting—but it can also feel overwhelming. Whether you’re launching a side hustle or building your dream company, it’s important to get the fundamentals right from the beginning. This checklist will guide you through the key steps to start a business legally and confidently in Wisconsin.
✅ 1. Decide on a Business Idea and Name
✅ 2. Choose a Business Structure
Your legal structure impacts taxes, liability, and compliance. Common options include:
- Sole Proprietor: Simple, but no liability protection
- LLC: Most popular for new businesses—offers flexibility and protection
- S Corporation: Offers tax advantages, but has stricter rules
We recommend consulting a tax professional to choose the right fit for your situation.
✅ 3. Register Your Business With the State
- If forming an LLC or Corporation, file with the Wisconsin Department of Financial Institutions (DFI)
- Sole proprietors using a business name (not their legal name) must file a Trade Name (DBA)
Start here with the DFI’s online portal →
✅ 4. Apply for an EIN (Federal Tax ID)
An EIN is like a Social Security number for your business. You’ll need it to:
- Open a business bank account
- Hire employees
- File taxes
Apply for free at IRS.gov
✅ 5. Register for Wisconsin Business Taxes
Depending on your business, you may need to register for:
- Sales tax (if selling taxable goods or services)
- Withholding tax (if hiring employees)
- Use tax (for items bought out of state for business use)
Register through the Wisconsin Department of Revenue
✅ 6. Get Business Licenses or Permits
Check state, city, and county requirements based on your industry. Common regulated professions include:
- Contractors
- Cosmetologists
- Childcare providers
Start your research at WISCONSIN.GOV
✅ 7. Open a Business Bank Account
Keep your personal and business finances separate—this is essential for:
- Better bookkeeping
- Cleaner tax filings
- Legal protection
Most banks will require your EIN and business registration documents.
✅ 8. Set Up a Basic Bookkeeping System
Don’t wait until tax season to get organized. Start with:
- A spreadsheet or accounting software (like QuickBooks, Wave, or Xero)
- Monthly check-ins to track expenses and income
- Saving receipts and invoices
A good accountant can help you set up your books from the start.
✅ 9. Plan for Insurance and Legal Protections
Depending on your business type, you may need:
- General liability insurance
- Professional liability insurance
- Workers’ compensation insurance
Consider talking to an insurance agent who works with small businesses.
✅ 10. Stay Compliant and Keep Learning
Starting a business is just the beginning. Don’t forget:
- Filing annual reports (if you have an LLC or Corp)
- Renewing licenses and permits
- Tracking income and expenses monthly
- Continuing to learn about your taxes and financial obligations
