LRB-4055/1
ARG:kjf
2017 - 2018 LEGISLATURE
September 14, 2017 - Introduced by Senators Testin, L. Taylor, Darling,
Marklein, Olsen and Tiffany, cosponsored by Representatives Edming,
Tauchen, Bernier, E. Brooks, R. Brooks, Horlacher, Kitchens, Kremer,
Krug, Kulp, Mursau, Novak, Quinn, Rodriguez, Rohrkaste, Summerfield
and Tranel. Referred to Committee on Revenue, Financial Institutions and
Rural Issues.
SB404,1,3 1An Act to amend 183.0114 (1) (a); and to create 183.0114 (2m) of the statutes;
2relating to: the fee for filing limited liability company articles of organization
3with the Department of Financial Institutions.
Analysis by the Legislative Reference Bureau
This bill creates, for student entrepreneurs, an exemption to the $130 initial
filing fee for articles of organization to form a limited liability company. The fee
exemption is available to students enrolled in postsecondary institutions in this
state. The exemption is available to these students who form a limited liability
company as a business start-up.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB404,1 4Section 1. 183.0114 (1) (a) of the statutes is amended to read:
SB404,1,65 183.0114 (1) (a) Articles Except as provided in sub. (2m), articles of
6organization, $130.
SB404,2 7Section 2. 183.0114 (2m) of the statutes is created to read:
SB404,2,2
1183.0114 (2m) (a) In this subsection, “student entrepreneur" means a student
2to whom all of the following apply:
SB404,2,33 1. The student is enrolled in a postsecondary institution in this state.
SB404,2,64 2. The student is an organizer of a limited liability company or will be a member
5of the limited liability company upon its formation, and the limited liability company
6is being formed as a business start-up.
SB404,2,87 (b) The department may not collect a fee for filing articles of organization if all
8of the following apply:
SB404,2,109 1. All members of the limited liability company, upon its formation, are student
10entrepreneurs.
SB404,2,1311 2. If the limited liability company is formed by any organizer who will not
12become a member of the limited liability company upon its formation, all such
13organizers of the limited liability company are student entrepreneurs.
SB404,3 14Section 3. Initial applicability.
SB404,2,1615 (1) This act first applies to articles of organization filed on the effective date of
16this subsection.
SB404,4 17Section 4. Effective date.
SB404,2,1918 (1) This act takes effect on the first day of the 2nd month beginning after
19publication.
SB404,2,2020 (End)
Loading...
Loading...