Many small businesses are made up of sole proprietorships.
Wisconsin, located in the northern part of the midwest is situated on the border of Canada. The state's strategic location allows businesses to easily conduct business in the United States and Canada. Entrepreneurs and small business owners are able to take advantage of business opportunities in both countries. Individuals starting a business have to plan ahead. Certain steps need to be taken to start a business in the state as a sole proprietor.
Register Firm Name
Sole proprietors are required to file a registration of firm name with the register of deeds in Wisconsin where the business is located. The form is filed by county location. The registration applies to business owners using a name other than their legal name to run the business. A registration application form can be found and printed from the state's website. Information about the business, location and the owner are required. The signature on the form needs to be notarized by a notary public before it is submitted. Registering the business name costs $11 as of August, 2010. Business names must be original and not too similar to business names currently on file within the state.
Apply for Employer Identification Number
An employer identification number (EIN) is a number issued by the Internal Revenue Service (IRS) for businesses. The nine-digit number is assigned to all business entity types including sole proprietors. Sole proprietors are required to have this number for tax filing purposes, reporting, establishing business accounts, applying for business credit, loans or other forms of business financing in Wisconsin. The EIN number can be obtained from the Internal Revenue Service website.
Internal Revenue Service
545 Zor Shrine Place
Madison, WI 53719
608-829-5827
irs.gov
Register for State Business Taxes
Businesses operating in Wisconsin are required to register the business with Wisconsin Department of Revenue. An application form will need to be completed accompanied by the application fee of $20 (as of August, 2010) for new businesses. The business tax registration (BTR) is good for two years. Registering for the BTR can be done by contacting:
Wisconsin Department of Revenue
P.O. Box 8902
Madison, WI 53708
608-266-2776
revenue.wi.gov
Marketing the Business
Marketing the sole proprietorship to potential clients and customers is the next step in getting a business going in Wisconsin. Potential customers need to know the about the business, goods and services provided by the company. Advertising in the local papers, online and in the state's Better Business Bureau are ways to get the word out about the company.
