Incorporation in Wisconsin

Find the right Business Incorporation attorney in Franklin, WI

By Wisconsin law, a business that has incorporated is identified thereafter as its own legal entity. As a separate entity from the owners, the business is then considered to be acting on its own when it buys and sells property, assents to contracts and exercises legal rights. To incorporate in Wisconsin, a business must file with the Secretary of State in compliance with specific guidelines.

Benefits of Incorporation in Wisconsin

A corporation enjoys advantages that unincorporated companies do not. Primarily, it cannot be held accountable for an amount of debt greater than the value of the assets that the owners have invested in it. Without incorporation, the personal property of business owners is at stake should the company become unable to pay its debts. A corporation also allows creditors in the Franklin area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to acquire loans more easily. Finally, the ownership stake in a corporation can be apportioned into uniform slices, known as "shares" of stock. This makes it possible to sell ownership investments in more manageable slices.

Costs of Incorporation

Incorporation comes at a price. First, Wisconsin might charge a filing fee to process applications for incorporation. Also, the corporation will pay taxes as its own entity. The incomes of owners as individuals are also taxed of course, meaning that income to the corporation might be subject to double taxation. However, this disadvantage can be avoided with proper planning and help from a local Franklin lawyer.

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Life in Franklin

Franklin is a city in Milwaukee County, Wisconsin. It has a population of about 32,000 people. Franklin is frequently ranked among the top 100 places in the U.S. to live by Money Magazine. Franklin is also highly ranked by some specialty publications, in certain niche categories. For example, FDi Magazine (a publication for the Foreign Direct Investment industry) has also ranked Franklin quite highly in terms of human resources and infrastructure. Milwaukee County contains many prized natural features, many of which are located in Franklin, Wisconsin. Among them are unspoiled wetlands, old-growth forests, prairies, river habitats, and many others. Because of its natural beauty, it should be no surprise that Franklin has many parks and outdoor recreation areas. Paradoxically, Franklin is also home to a superfund site, thanks to a (now defunct) landfill company that illegally allowed the dumping of toxic waste on its land. If you are looking for an attorney, and live in Franklin, Wisconsin, chances are you'll be able to find one. Franklin, Wisconsin lawyers are well-educated, and highly skilled. If you have any legal problem whatsoever, you should consider retaining a Franklin, Wisconsin lawyer.

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