Starting your own company in wisconsin???

A

arctiva

Member
Hello all

So i been laidoff work here for awhile and wanna start my own electricial company. I have 1 job lined up for april and looking at another soon.

Ive found the Electricial contractors liscense required and also the State Electricial Masters test info.

What im trying to find out is do you have to register with the state or federal government somehow.
Just wanna make sure i do things right i guess

Anyone with helpfull info???
 
A

asmski

New member
Go to your library, there are a couple of books that walk you through types of businesses and the steps in WI for starting a license.
 
A

arctiva

Member
I know things are slow hence why im laidoff work. But i have a chance to wire a 8 unit apartment for a contractor i know very well.. This is a straight up labor by the hour he is provideing the material. When this building is 60% rented there is another 8 unit going next to it and plans for a 3rd as well.

Catch is i have to be able to work for myself and the way i understand wisconsin is i would have to be state liscened as a contractor to be self employed.
 
D

dcsnomo

Moderator
You need to go to IRS.gov and get an FEIN (Federal Employer Identification Number). Then, go to WI Dept of revenue web site and get a business taxpayer ID.
 
A

adrenlnjunky

New member
arctiva said:
I know things are slow hence why im laidoff work. But i have a chance to wire a 8 unit apartment for a contractor i know very well.. This is a straight up labor by the hour he is provideing the material. When this building is 60% rented there is another 8 unit going next to it and plans for a 3rd as well.

Catch is i have to be able to work for myself and the way i understand wisconsin is i would have to be state liscened as a contractor to be self employed.
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I to got laid off last January and started my own electrical contracting buss. You do need to be a State of WI certified Master electrician or have a master work for you and sign off on everything. Also you need to be a Rgistered contrator with the Dept of Commerce.($100/4yrs).I started an LLC but I think if you wanna get risky you can be a sole proprietor(talk to lawyer for best advice). It is deffinatelly a struggle right now but if you can keep your head above water for the time being it should pay off. I love working for myself, headaces and all. Ther is a learning curve forsure once you get out on your own ALL BY YOURSELF!!! I am located in the Fox Valey, WI area. If you need help with this apartment complex or any ?'s just PM me.
 
A

adrenlnjunky

New member
dcsnomo said:
You need to go to IRS.gov and get an FEIN (Federal Employer Identification Number). Then, go to WI Dept of revenue web site and get a business taxpayer ID.
Click to expand...

I believe its a lil more involved than just hitting the website and getting a FEIN. I went to a lawyer and had him set it all up an do the paperwork. Its definatelly worth the 500 or so bucks cause he then will answer ?'s and give advise when needed. As for the Dept of revenue taxpayer ID. I never had to do that. I just have a FEIN. I did have to register with the Dept of Financial Institutions but never recieved any ID #'s??????
 
A

arctiva

Member
adrenlnjunky said:
I to got laid off last January and started my own electrical contracting buss. You do need to be a State of WI certified Master electrician or have a master work for you and sign off on everything. Also you need to be a Rgistered contrator with the Dept of Commerce.($100/4yrs).I started an LLC but I think if you wanna get risky you can be a sole proprietor(talk to lawyer for best advice). It is deffinatelly a struggle right now but if you can keep your head above water for the time being it should pay off. I love working for myself, headaces and all. Ther is a learning curve forsure once you get out on your own ALL BY YOURSELF!!! I am located in the Fox Valey, WI area. If you need help with this apartment complex or any ?'s just PM me.
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I knew about the registered contractor part. And im takeing my masters test in may. For now i have a guy i know that i "will be employed" under as he has the masters liscense. The work is in platteville just 1 of those things to good to pass up. But also need the money from that job to kinda get things going forward. I been a electrician now for 16 years and allways thought about working for myself and being laidoff and this opritunity now figuired no time like the present.
 
A

arctiva

Member
Ok got the F.E.I.N number
Tomorow to the bank for a bussiness account
Then File the application for Wisconsin Electricial contractor Liscense
Then file for the L.L.C
Then apply for the masters test
Now the listed above should be a bussiness exspense right? Payed out of the bussiness account im gonna set up im thinking.

So what about insurance?? Wondering if you use a special company? or just go
where my auto and house insurance is? Was gonna call them tomorow but if anyone has any recomendations that be great too.
 
D

dcsnomo

Moderator
adrenlnjunky said:
I believe its a lil more involved than just hitting the website and getting a FEIN. I went to a lawyer and had him set it all up an do the paperwork. Its definatelly worth the 500 or so bucks cause he then will answer ?'s and give advise when needed. As for the Dept of revenue taxpayer ID. I never had to do that. I just have a FEIN. I did have to register with the Dept of Financial Institutions but never recieved any ID #'s??????
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Never said that was ALL he had to do. The extent of his paperwork will depend on the type of company he sets up (ex-LLC, partnership, etc.), and a lawyer's advice is invaluable for this. What I said was that to do business he will need an FEIN, silly to pay a lawyer for that task when you can get it from IRS.gov
 
S

skidont

Member
There is electrical work in North Dakota but you must be signed up at the local in fargo to get a job . The neighbor friend leaves in march or april and is back in November except when he races home for the weekend . 5-6 12 hour days a week
 
A

arctiva

Member
adrenlnjunky said:
I believe its a lil more involved than just hitting the website and getting a FEIN. I went to a lawyer and had him set it all up an do the paperwork. Its definatelly worth the 500 or so bucks cause he then will answer ?'s and give advise when needed. As for the Dept of revenue taxpayer ID. I never had to do that. I just have a FEIN. I did have to register with the Dept of Financial Institutions but never recieved any ID #'s??????
Click to expand...

Just found out you have to register with the department of commerce and you only need a number if you have employee's. Also need a sellers permitt i guess in wisconsin.

I think i have it all covered now except the insurance part. I must say the websites given here have been very helpfull as well as the numbers and people i have talked to from those websites. They have basically walked me through what i have needed to know.
 
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