I was only ~5 when we got it, but I don’t think that it involved much paperwork or $$$. We received two metal signs that needed to be posted – for all I know, our house is probably still listed as a fur farm in WI.
Ah, here: currently only $50 fee, so back in the early 70’s probably next to nothin’.
Edit: looks like they have a separate “captive wild animal fur farm” license now (ours didn’t mention anything about that):
Still, not exorbitantly high $50 application/$25 annual for Class B (non revenue)