The high cost of going out of business

You can’t make this stuff up. Should you happen to reside in the liberal la-la land of Milwaukee, WI and your privately owned business decides to go out of business, you may need a license to do so. Really.

H/T – XRepublic.TV

Going-out-of-Business Sales

A Closing Out Sale is any sale conducted or advertised using such terms as “closing”, “bankruptcy”, or “liquidation”. Closing Out Sales are regulated, licensed and monitored by the City of Milwaukee Health Department to protect consumers from misleading or fraudulent practices. Business may make arrangements to apply for a “Closing Out Sale” License by calling (414) 286-3674.

The requirements for Closing Out Sales can be found in Chapter 88 of The Milwaukee Code of Ordinances

Read more:

Don’t you feel better knowing this is done to protect you?

You can read the whole ugly regulation here-

In addition to your license fee, make sure you have the following:

-an affidavit from a CPA listing all the stock you plan to sell
-an affidavit listing names and addresses of the business owners, partners, officers, directors, principal stockholders and anyone else who aided in conducting the sale. Oh, by the way, if you haven’t been in business for at least 12 months your application will be denied. So say you wish to run a seasonal business and sell-off the remaining stock? Disapproved.
-applicants personal property tax returns for the previous 2 years
-Wisconsin dept. of taxation form 10 for the previous 2 years
-an affidavit proving you haven’t ordered stock for the previous 60 days. Order fresh product for your business? License rejected!
-an anything goes stipulation that allows the City Sealer to request any documentation they deem fit for the application

Regulatory burdens that don’t encourage entrepeneurs to go into business? Nah, not in Milwaukee.