January 5, 2024 - Introduced by Senators Bradley, Pfaff, Ballweg, Cabral-Guevara, Nass, Roys and Spreitzer, cosponsored by Representatives Oldenburg, Doyle, Edming, Behnke, Conley, Considine, Jacobson, Joers, Maxey, O’Connor, Palmeri, Rettinger, Sapik, Schmidt, Shankland and Subeck. Referred to Committee on Financial Institutions and Sporting Heritage.
SB881,,22An Act to amend 183.0122 (2) (d) 1. a. of the statutes; relating to: the fee for filing limited liability company articles of organization with the Department of Financial Institutions. SB881,,33Analysis by the Legislative Reference Bureau This bill expands the filing fee exception for a student entrepreneur who forms a limited liability company (LLC).
Current law establishes a fee of $130 for filing LLC articles of organization with the Department of Financial Institutions. However, DFI may not collect this fee if the LLC members or organizers are all student entrepreneurs. A “student entrepreneur” is defined as a student who is at least 18 years of age, enrolled in a postsecondary institution in this state, and an organizer or member of an LLC formed as a business start-up.
This bill expands the definition of “student entrepreneur” to include a student enrolled in a public, private, or tribal high school in this state.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
SB881,,44The people of the state of Wisconsin, represented in senate and assembly, do enact as follows: SB881,15Section 1. 183.0122 (2) (d) 1. a. of the statutes is amended to read: SB881,,66183.0122 (2) (d) 1. a. The student is enrolled in a postsecondary institution in this state or in a public, private, or tribal high school in this state. SB881,27Section 2. Initial applicability. SB881,,88(1) This act first applies to articles of organization filed on the effective date of this subsection. SB881,,1010(1) This act takes effect on the first day of the 2nd month beginning after publication.
