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Example: if the corporation has issued 100 par-value shares at $25 par value per share, it would
enter $2,500 in line B(1). Specify any additional paid-in capital in excess of par in line B(2), and
enter the total of lines B(1) and B(2) in line B(3).
C. Value of shares issued without NO PAR VALUE . This section provides a value for shares issued
without par value. First, determine the corporation’s net property in line C(3) by entering its total
liabilities in line C(2) and subtracting them from its total property entered in line C(1). The number
in line C(1) should match the number entered for line A(2). Next, subtract any paid-in capital
calculated in the preceding section by subtracting line B(3) from line C(3), and enter the total in line
C(4). This provides a presumptive total value of all shares issued without par value.
The number is “presumptive” because, for purposes of this calculation, sections 180.1520(2)(f) and
180.1622(1)(h) of the Wisconsin Statutes establish a $10 per-share floor on the value of shares
issues without par value. To determine the total floor value of all shares issued without par value,
multiply the total number of shares issued without par value by $10 and enter the result in line C(5).
In line C(6), copy the result from either line C(4) or C(5)—whichever is the higher of the two.
D. Capital representation in Wisconsin. To calculate the corporation’s total capital, enter the total of
lines B(3) and C(6) in line D(1). Then, to calculate the estimated amount of that capital that will be
represented in Wisconsin in the coming year, multiply line D(1) by the percentage in line A(7).
Item 15. In line A, enter the estimated amount of the corporation’s capital that will be represented in Wisconsin
in the coming year by copying the result from item 14, line D(2). Subtract $60,000 from that number and enter
the result in line B.
If the result in line B is positive, compute a fee of $3 for each $1,000 (or any part thereof) of the number in line
B and enter the result in line C. To make this computation, divide the result in line B by 1,000, then round
upward to the next whole number, then multiply by $3. Example: if line B is $10,500, then line C would be $33
($10,500 divided by 1,000 is 10.5, rounded up to the next whole number of 11, multiplied by $3). If the result in
line B is negative, enter zero in line C.
If the corporation answered “yes” to item 10 regarding transacting business without a certificate of authority
from the Department, complete the Supplement on page 8 and enter the resulting number in line E.
Add lines C, D, and E to determine the total filing fee for this document. Enter that number in line F.
Item 16. This document must be executed by an officer of the corporation, subject to two limited exceptions:
(1) if directors have not been selected, it may be signed by an incorporator identified in the initial articles of
incorporation; and (2) if the corporation is in the hands of a receiver, trustee or other court-appointed fiduciary,
it may be signed by the fiduciary. Corporate directors are not authorized to sign this document in their
capacities as directors. (A corporate director who also serves as an officer may sign the document, but that
person must sign in their capacity as an officer of the corporation.)
Optional delayed effective date/time. This document may declare a delayed effective date and time. The
effective date/time may not be before, or more than 90 days after, the document is received by the Department
of Financial Institutions for filing. If no effective date/time is specified, the document will take effect at the
close of business on the date it is received for filing by the Department.
Form Corp21 (Revised May 2024) Use of this form is mandatory. Page 7 of 8
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