Dept. of Financial Institutions: Student entrepreneurs now eligible for waiver of $130 LLC filing fee

Contact: George Althoff, Communications Director, 608-261-4504

MADISON – Are you an entrepreneurial student who has a great idea for a start-up business, but is unable to pony up the filing fee? Then you’re in luck! Effective May 1, any college student in Wisconsin who creates a Limited Liability Corporation (LLC) will have the $130 filing fee waived. The waiver was enacted when Governor Scott Walker signed Wisconsin Act 177 into law earlier this year.

The LLC filing fee will be waived for Student Entrepreneurs who meet the following criteria:

  • The student is enrolled in a post-secondary institution in Wisconsin.
  • The student is an organizer of the LLC or will be a member of the LLC upon its formation, and the LLC is being formed as a business start-up.
  • The student is at least 18 years of age.

“This is a great way to encourage the entrepreneurial spirit of college students across the state and show that Wisconsin is open for business,” said Jay Risch, Secretary of the Department of Financial Institutions (DFI).

In order to be eligible for the fee waiver, a Student Entrepreneur must submit a Form 502SE and a completed affidavit to DFI. These forms may only be filed on paper. The forms, along with instructions on how to submit them, can be accessed here. More information is available on DFI Corporations home page, http://www.wdfi.org/corporations.

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