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New business entity filings
up 7.5% through June

MADISON - The number of new business entities formed in Wisconsin in the first six months of 2018 grew by 7.5% compared to same period in 2017, according to data compiled by the Department of Financial Institutions (DFI). As of June 30, new business filings totaled 25,524, compared to 23,742 in the first six months of 2017.

The business formation data is compiled by DFI, which is the filing office for the creation of business entities in the state. DFI tracks new business entity creation on a monthly basis and posts the data on its website. The full report may be found at www.wdfi.org/corporations/HistoricalStatistics.htm.

Qualified New Business Ventures will no longer
have to pay additional state fees

New state law expected to save start-up companies thousands of dollars

MADISON - Wisconsin early-stage companies that are certified as Qualified New Business Ventures and incorporated as C corporations in other states will no longer have to pay additional assessment fees under a new state law that takes effect today.

To be certified as a Qualified New Business Venture and thereby qualify for the flat fee, a business must meet several conditions, including:

  • Be headquartered in Wisconsin.
  • Have at least 51 percent of its workers employed in Wisconsin.
  • Have the potential of increasing jobs or capital investment in the state.
  • Have fewer than 100 employees.
  • Have been in operation in Wisconsin for 10 or fewer consecutive years.

See the full press release here.

Net income, lending show healthy gains
at state-chartered banks in 1st quarter

MADISON - Net income rose 23.3% and net lending grew by 8.8% at Wisconsin's state-chartered banks in the first quarter of 2018 compared to the same period in 2017, according to data released today by the Wisconsin Department of Financial Institutions (DFI).

Compared to the first quarter of 2017, Wisconsin's 160 state-chartered banks:

  • Increased net loans to $39.0 billion, up from $35.8 billion.
  • Posted a net income of $158.7 million, up from $128.7 million.
  • Reduced their past-due loan ratio to 1.22%, down from 1.23%
  • Posted a solid capital ratio of 11.48%, down from 11.64%

See the full press release here.