As far as I know the Furbearer Lic is for trapping any furbearers including coyote. If you are going to hunt them w/ gun/bow (or sharpened stick fasioned to a spear w/ indian feathers taken from a hawk) you only need a Small game lic. $85.00
If You search Furbearer on the WI DNR site everything is associated w/ trapping.
PS good luck, no coyotes in the SW part of the state, so don't even bother hunting down here. There is alot in Osti's area