Qualified New Business Venture
Wisconsin Act 156 was passed by the Legislature, amending Chapter 180 of the Wisconsin Statutes.
Effective June 1st, 2018, for Foreign Business Corporations who meet the requirements set forth in sec. 238.15(1), the fees associated with filing a Certificate of Authority (form 21); Annual Report (form 18) and Application for Withdrawal and Final Report (form 24) will be a flat fee.
To be certified by the Wisconsin Economic Development Corporation as a Qualified New Business Venture, a business must satisfy the following conditions:
- Be headquartered in this state.
- At least 51% of employees must be employed in Wisconsin.
- Have the potential or increasing jobs or capital investment in Wisconsin.
- Have fewer than 100 employees
- Have been in operation in Wisconsin for 10 or fewer consecutive years.
Form 21QNBV must be submitted to the Department, together with the current certification from the Wisconsin Economic Development Corporation. This form may only be filed on paper to take advantage of the fee waiver.
Form 18QNBV must also be filed on paper and be accompanied by a current re-certification, whose certification period ends on March 31, 2019.
Form 24QNBV must also be filed on paper, and requires that the previous annual report (or qualification, if in Wisconsin for less than 2 years) has the required certification.