Should you form your LLC in Wyoming? We've collected the relevant information that will help you make this decision.
- Tax rate of $.0002 per dollar of assets
- Low cost of living
- Low cost of doing business
- Small workforce due to small population
Cost of doing business
- $100 filing fee / $50 annual report
- No disclosure of owners
Forming an LLC in Wyoming
In order to communicate to the public that your new business is an LLC, its official name will need to end with one of the following signifiers (or abbreviation of): “Limited liability company”, “LLC”, or “L.L.C.” In addition, it is required that the name of your business is not intentionally misleading to consumers, for any reason. Your company’s new name must also be completely unique, and not deceptively similar to any other organizations name or trademarks. There are also restrictions on using the word “trust” as well as regarding several terms common to the education industry. Do a FREE name search now.
The owners of an LLC are called “members.” The following information must be required regarding your LLCs members:
- Required number of members
Wyoming LLCs must have at least one member or manager listed in their incorporation documents.
- Age restrictions
LLC members in Wyoming may be of any age.
- Residence restrictions
There are no residence restrictions imposed on LLC members in Wyoming.
- What information needs to be included in the Articles of Organization?
Outside of the principal member, LLC Members in Wyoming are not required to list their name or addresses in their Articles of Organization.
Requirements for the Articles of Organization
The Articles of Organization is a document that must be filed during the LLC formation process in every state. Here is the information that must be included in this document when filing in Wyoming:
Registered agent information
All Wyoming LLCs must have a registered agent on file, and submit their name and address (which cannot be a PO box). This agent will be required to be accessible during standard business hours, and act as the state’s point of contact with the company. Learn more about registered agents.
If your business is a professional practice
Professional service companies are permitted to form under the professional limited liability company (PLLC) structure.
Wyoming LLC taxation and fee requirements
There are several tax and fee requirements that must be addressed by LLCs in Wyoming. They are as follows:
All states have complex taxation requirements. For more information regarding taxes in Wyoming, it is advised that you visit the state’s official business related website.
Annual report requirements
LLCs in Wyoming are required to file an annual report every year before the first month of the company’s incorporation anniversary date. The cost of this filing varies by the size of your organization but starts at $50. Learn more about annual reports.
Tax identification numbers
Wyoming requires an EIN (employee identification number) for all LLCs that will have employees, and most banks will require one to open accounts. Wyoming does not require LLCs to obtain state tax ID numbers. Learn more about EINs.
Business license requirements
The business licenses and permits required in Wyoming vary wildly depending on the county or municipality in which your new LLC is located. If you would like to see more in-depth information on licenses and permits, please feel free to visit the content in our learning library that covers business licenses and permits.
Other formal requirements
Wyoming also requires LLCs to keep the following information on record with the state:
If your LLC is member-managed, Wyoming requires you to keep a name and address on file for each member/manager.
Registered agent information
All LLCs in Wyoming must keep all relevant contact info for their designated registered agent on file, and up-to-date, at all times. This includes the individual’s name, phone number, and address (which cannot be a PO box).
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