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Blank Operating Agreement Form for Wisconsin State

The Wisconsin Operating Agreement form is a legal document that outlines the management structure and operational guidelines for a limited liability company (LLC) in Wisconsin. This form serves as a crucial tool for members to clarify their roles, responsibilities, and the distribution of profits and losses. Understanding its importance can help ensure a smooth operation of the business and protect the interests of all members involved.

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Table of Contents

Document Overview

Fact Name	Details
Governing Law	The Wisconsin Operating Agreement is governed by Chapter 183 of the Wisconsin Statutes.
Purpose	This form outlines the management structure and operating procedures of a limited liability company (LLC) in Wisconsin.
Members' Rights	It specifies the rights and responsibilities of the members, including profit distribution and voting rights.
Customization	Members can customize the agreement to suit their specific needs, as long as it complies with state law.
Filing Requirement	While the Operating Agreement is not required to be filed with the state, it is recommended to keep it on record.
Dispute Resolution	The agreement may include provisions for resolving disputes among members, promoting smoother operations.

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Documents used along the form

The Wisconsin Operating Agreement is a crucial document for limited liability companies (LLCs) in Wisconsin, outlining the management structure and operational guidelines of the business. Along with this agreement, several other forms and documents are often utilized to ensure compliance with state laws and to facilitate smooth business operations. Below is a list of these essential documents.

Articles of Organization: This document is filed with the Wisconsin Department of Financial Institutions to officially form the LLC. It includes basic information such as the company name, address, and registered agent.
Member Consent Forms: These forms are used to document decisions made by LLC members, especially those made outside of formal meetings. They help maintain clear records of member approvals.
Operating Procedures Manual: This manual outlines the day-to-day operational procedures of the LLC. It serves as a guide for employees and management, detailing roles and responsibilities.
Bylaws: While not always required, bylaws can complement the Operating Agreement by providing additional rules and regulations governing the internal management of the LLC.
Tax Identification Number (EIN) Application: This form is necessary for obtaining an Employer Identification Number from the IRS. It is essential for tax purposes and for opening a business bank account.
Annual Report: LLCs in Wisconsin must file an annual report with the state. This document updates the state on the company’s status, including any changes in management or address.

These documents work together to provide a comprehensive framework for managing an LLC in Wisconsin. Ensuring that all relevant forms are completed and filed properly can help protect the interests of the business and its members.

Document Sample

Wisconsin Operating Agreement Template

This Operating Agreement ("Agreement") is made effective as of [Date], by and between the following members of [Company Name], a Limited Liability Company ("LLC") formed in accordance with the laws of the State of Wisconsin.

This Agreement is intended to comply with the Wisconsin Limited Liability Company Act, Wis. Stat. § 183.0101 et seq.

Article I: Formation

The members hereby agree to form a Limited Liability Company under the laws of the State of Wisconsin.

Name: The name of the LLC shall be [Company Name].
Principal Office: The principal office of the LLC shall be located at [Address].
Duration: The LLC shall continue until dissolved in accordance with this Agreement.

Article II: Purpose

The purpose of the LLC is to engage in any lawful activity as permitted under Wisconsin law.

Article III: Members

The initial members of the LLC are as follows:

Name: [Member 1 Name] - Ownership Percentage: [__] %
Name: [Member 2 Name] - Ownership Percentage: [__] %
Name: [Member 3 Name] - Ownership Percentage: [__] %

Article IV: Management

The LLC shall be managed by its members. Decisions shall be made based on a majority vote unless otherwise stated in this Agreement.

Article V: Contributions

Each member shall make initial capital contributions as follows:

[Member 1 Name]: [Contribution Amount]
[Member 2 Name]: [Contribution Amount]
[Member 3 Name]: [Contribution Amount]

Article VI: Distributions

Profits and losses shall be allocated to members based on their ownership percentages.

Article VII: Indemnification

The LLC shall indemnify its members against any losses or damages incurred in connection with the LLC, except in cases of willful misconduct or gross negligence.

Article VIII: Amendment

This Agreement may be amended only by a written agreement signed by all members.

Article IX: Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

Member Signatures:

_________________________ (Member 1 Name)
_________________________ (Member 2 Name)
_________________________ (Member 3 Name)