Madison, WI – The Wisconsin State Senate unanimously passed Senate Bill 404 (SB 404) on Tuesday, which would eliminate filing fees for student entrepreneurs who start an LLC. The bill, authored by Rep. James Edming (Glen Fora) and Sen. Patrick Testin (Stevens Point), has gained bi-partisan support.
“Wisconsin’s unemployment rate recently reached a historic low of 3.0% and business leaders from across the country are calling Wisconsin one of the top ten states in which to do business,” said. Sen. Testin. “However, Wisconsin has room for improvement when it comes to fostering startups – that’s why Rep. Edming and I proposed this bill.”
Rep. Edming pointed out that the bill removes obstacles that discourage young people from starting a business.
“We need to do more to promote entrepreneurship in our state,” said Rep. Edming. “SB 404 does exactly that by removing a barrier for students who are trying to start a small business. I am pleased that the Senate approved this common-sense legislation.”
SB 404 now moves on to the Assembly for further consideration.