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Bill > SB267


WI SB267

The fee for filing limited liability company articles of organization with the Department of Financial Institutions. (FE)


summary

Introduced
05/20/2025
In Committee
05/20/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

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 Xstudent entrepreneurY 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 Xstudent entrepreneurY to include a student who is enrolled in a public, private, or tribal high school in this state or is homeschooled. For further information see the state fiscal estimate, which will be printed as an appendix to this bill. LRB-0755/1 ARG:amn 2025 - 2026 Legislature SENATE BILL 267

AI Summary

This bill expands the definition of "student entrepreneur" to waive the $130 filing fee for limited liability company (LLC) articles of organization when the LLC is formed by students. Currently, the fee exemption applies only to postsecondary students, but this bill broadens the definition to include high school students (in public, private, or tribal schools) and homeschooled students. Specifically, the bill amends the existing statute to allow students who are at least 18 years old and enrolled in a postsecondary institution, a high school in Wisconsin, or participating in a home-based private educational program to form an LLC without paying the standard filing fee to the Department of Financial Institutions. The bill will take effect on the first day of the second month after its publication and will apply to LLC articles of organization filed from that date forward, potentially encouraging young entrepreneurs to start businesses with reduced initial financial barriers.

Committee Categories

Budget and Finance

Sponsors (29)

Last Action

Fiscal estimate received (on 05/22/2025)

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