Ensuring the success of Wisconsin’s economy relies on creating a vibrant and supportive entrepreneurial environment. That’s why WEDC and its network of statewide partners are committed to helping startups reach success.
Wisconsin early-stage companies that are certified as Qualified New Business Ventures (QNBV) and incorporated as C corporations in other states will no longer have to pay additional assessment fees under a new state law.
Under the new law, Wisconsin Act 156, the additional fees are eliminated for foreign corporations (in this case, defined as companies incorporated in other states, but still headquartered in Wisconsin) that are certified as a QNBV by WEDC. Those firms will be required only to pay a flat fee with the Wisconsin Department of Financial Institutions (DFI).
“It is common practice for companies raising outside capital and addressing national or global markets to incorporate outside of their home state,” said Aaron Hagar, vice president of entrepreneurship and innovation at WEDC. “This change will benefit Wisconsin tech startups regardless of the location of their legal incorporation.”
Read the full release here.