In Wyoming, starting an LLC encompasses choosing a business name and filing the Articles of Organization, among other tasks. Explore our guide to understand the pro-business environment in Wyoming and lay a solid foundation for your Wyoming LLC.
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Looking to start a limited liability company (LLC) in Wyoming? You aren’t alone. With its favorable tax structures and impressive asset and limited liability protections, the Cowboy State is a popular choice for new entrepreneurs.
Pair those state benefits with the advantages of the LLC business structure (such as separation of personal assets and liabilities from those of your business), and you’ve got a great match. However, in order to actually reap those benefits, you’ll need to officially form your LLC. And if you want to stay in good standing with the state, you’ll need to form it correctly.
We know the idea of forming an LLC may seem daunting, especially if this is your first business venture. That’s why we’re here with a step-by-step guide to walk you through the entire process. Along the way, we’ll also explore how our products and services can help you cut through much of the red tape. Keep reading to learn how to start an LLC in Wyoming.
Note: These directions apply to starting a domestic LLC in Wyoming. The formation steps and filing requirements for other entities, such as low-profit LLCs (L3Cs), close LLCs, and foreign LLC registration may differ.
Discover the unique advantages of forming your LLC in Wyoming, a state known for its pro-business environment. Enjoy benefits like no state income tax, enhanced asset protection, and privacy features exclusive to Wyoming LLCs.
To start an LLC in Wyoming, you’ll need to file Articles of Organization with the Secretary of State. Before you file these formation documents, however, you’ll first need to name your business and appoint a registered agent. After your Articles of Organization are filed, you’ll also need to create an operating agreement and obtain an Employer Identification Number (EIN).
To start a Wyoming LLC, begin by naming your business. Coming up with a distinct name helps your LLC stand out from other companies. This is also an opportunity for you to hone your branding tone and reflect on your mission and vision.
But before you create merchandise with your company name on it, let’s go over some crucial rules about LLC names.
The state of Wyoming has a few basic rules for naming your LLC:
Want to take a deeper dive into how to name your LLC? Let us help you search Wyoming records to see if your desired name is being used by another business entity in the state. You can also check the Wyoming Secretary of State’s database to search for business names that are already in use.
While not a legal requirement, you might want to make sure that your chosen business name is available as a domain name before you take the next step. After all, being available online is a big part of running a successful business. Plus, it’ll be easier for people to remember and interact with your business if the website and company names match. We can help you take care of this with our business name search and domain name registration service. We can even help you set up your website.
Even if the name you want to use appears to be available after you’ve searched the Secretary of State’s database, there’s no guarantee that someone hasn’t already trademarked it at the state or federal level. While there’s no central place to check for all trademarks (some businesses even consult with trademark-specialized lawyers), you can take some measures yourself.
For instance, you can search for state-level trademarks through the Wyoming Secretary of State. To check for federal trademarks, search the United States Patent and Trademark Office (USPTO) database.
In addition to checking state and federal databases, it’s a good idea to conduct extensive internet searches for your desired business name, such as checking domain names, social media sites, and even phone directories.
If you want to trademark a name yourself, you can also apply for your own state trademark via the Wyoming Secretary of State.
Let’s say you already have the perfect business name, but you need more time to get ready to form an LLC in Wyoming. No problem. Wyoming allows you to reserve an available business name for up to 120 days.
Want to conduct business under a different moniker than your official company name? Sometimes, businesses can benefit from having an extra name. Most states call this alternative moniker a “doing business as” (DBA) name or “fictitious name,” but Wyoming simply refers to them as “trade names.”
Examples of when a trade name would be used include:
If obtaining a trade name sounds right for your situation, you’ll need to file a Trade Name Registration form with the Wyoming Secretary of State. Learn more about this process with our step-by-step guide on how to get a DBA name for your business in Wyoming.
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Appoint a registered agent for your Wyoming LLC. Every LLC in Wyoming is required to have a registered agent (RA). Also called an agent for service of process in some other states, this agent is an individual or business entity that receives official paperwork and important legal notices on behalf of the company.
In Wyoming, there are rules about who can act as a registered agent. In order to serve as a registered agent for a Wyoming LLC, an individual or business entity must:
If an individual serves as your registered agent, they must be at least 18 years of age, reside in Wyoming, and have a physical address in the state.
Legally, a business owner can serve as their own registered agent. However, there are several downsides to serving as your own agent or having a friend or family member do so.
For starters, if your company is sued, being served with the lawsuit notice in front of customers could be embarrassing or even damaging to your business. Furthermore, if your business moves, you’ll need to remember to update your registered agent address on file with the state.
Finally, registered agents need to be available during all regular office hours to receive documents and legal notices. This can be inconvenient when you’re trying to run a business and live your life.
These reasons and more are why many business owners opt to use professional registered agent services, instead. With a professional service, you can:
Our Wyoming registered agent service matches you with a professional service provider. Shop confidently, knowing that we curated a list of qualified professionals that may be right for you.
If a process server can’t find your registered agent, it could result in you not receiving important legal notices, such as a notification that your business is being sued. This would mean that you could fail to show up to court or address pressing legal matters.
Worse still, your business being unreachable could cause you to fall out of compliance with the state. Being out of compliance could lead to everything from costly fines to the forced dissolution of your business.
Want to save yourself the embarrassment and possible hassle (or even worse)? Have a reliable, professional, and discreet registered agent.
File Articles of Organization to legally form your Wyoming limited liability company. Your LLC Articles of Organization are the formation documents that officially create your business. So, if you want the personal liability protection you get from an LLC, you’ll need to make sure you fill them out carefully and completely.
You’ll file your Articles of Organization with the Wyoming Secretary of State. Before filing these formation documents, make sure you have all of the necessary information.
The Articles of Organization are like your business’s birth certificate. When the government accepts them, the Articles prove that your business exists and provides basic information about the company. Here’s what the Secretary of State requires you to put in your Articles of Organization when you create an LLC in Wyoming:
According to the Secretary of State, the processing time for Wyoming LLC Articles of Organization is 15 business days (starting from when the state receives your completed formation document and filing fees).
Help ensure that you accurately and quickly file your Articles of Organization with our business formation plans. Answer a few questions about your business, and we’ll provide you with a selection of offerings suitable for your needs and situation. Choose your service(s), and your dream business will be born in no time.
Wyoming charges a $100 filing fee for your Articles of Organization, but there may be add-ons and other costs that bump this amount up (such as a $2 convenience fee for filing online and fees for licenses or permits in your industry). You can opt for the online filing option or file your documents by mail. Find out how much it may cost to form your business on our dedicated Wyoming LLC cost page.
As your business grows, your information may change. Make sure to update your Articles of Organization as needed to stay in good standing with the Wyoming government. You can report these changes by filing an Amendment to the Wyoming Articles of Organization. If your Articles of Organization aren’t correct, it could affect your ability to get a Wyoming Certificate of Good Standing.
When you need to make a change, use our amendment filing service. You can also cover all your bases with our Worry-Free Compliance service package. Our Worry-Free Compliance service alerts you to essential filing events, covers the cost of up to two amendments per year, and helps you get back on track if you miss a deadline.
If we do the filing for your Articles of Organization, your paperwork will be available from your ZenBusiness dashboard. Here, you can keep it and other important paperwork digitally organized. It will become available once the state approves your Wyoming LLC.
When you get your physical paperwork back from the state after it approves your LLC, keep it in a safe location with your other important documents. This includes your operating agreement, member certificates, contracts, compliance checklists, transfer ledger, etc. We offer a customized business kit to help you keep these documents organized and looking professional.
Draft an operating agreement for your Wyoming LLC. (For more information, please see our operating agreement definition page.) A Wyoming LLC operating agreement is an internal document that contains key information about how your business will be run. A comprehensive operating agreement might include:
An operating agreement is where you and your associates turn if disputes arise (and often, how you avoid future conflicts in the first place). If the operating agreement doesn’t discuss it, the Secretary of State’s default rules for Wyoming LLCs will apply to your operating procedures.
People starting a company may get so caught up in the formation process that they overlook this critical step or think it’s an unnecessary expense. Too often, these same businesses find themselves embroiled in a lawsuit or other disputes that the owners might have avoided if they had written an operating agreement.
Are you unsure how to create an operating agreement for your LLC? We offer a customizable template to help you get started.
An operating agreement isn’t a legal requirement for setting up a Wyoming LLC, but having one is a good idea. That’s true even if you’re the only owner. If there’s any chance that you’ll admit new members or managers or accept money from investors, an operating agreement may come into play.
It’s better to have an operating agreement written from the beginning than to wait to “deal with it” until a situation arises where you have to have one. After all, that situation may be a lawsuit, at which point it may be too late to put one together until after it’s over.
Furthermore, even if you’re a single-member LLC, an operating agreement can come in handy if your business is ever sued. By showing the court that you took the time to create this official document for your business, you can further convey that you and your business are separate entities.
Apply for an Employer Identification Number (EIN). Much like a Social Security number (SSN) does for individuals, your EIN identifies your business to the Internal Revenue Service (IRS).
You’ll need an EIN to do things like:
Many people forming a single-member LLC may think getting an EIN is unnecessary. But consider that you will need to keep giving out your Social Security Number if you don’t have a separate EIN for your business. Plus, some banks may not let you open a business bank account without an EIN. Better to protect yourself and make life easier by applying for an EIN.
You get an EIN (also known as a Federal Tax Identification Number, or FTIN) by registering with the IRS. You must provide accurate information to the IRS when applying for an EIN. Any inadvertent errors can cause delays or your filing to be rejected entirely. Errors can also prevent the government from having your correct information on file.
Help ensure this step is done right by using our EIN service.
LLCs and other small businesses are required to file a beneficial ownership information report with the Financial Crimes Enforcement Network (FinCEN). This requirement was introduced by the Corporate Transparency Act and went into effect at the beginning of 2024. Reporting companies are required to provide information about their beneficial owners.
According to the Act, a beneficial owner is anyone who exerts control over the business, owns 25% or more of the LLC’s ownership interest, or receives substantial economic benefit from the LLC’s assets. You have to provide the name, address, and identifying documents for each beneficial owner to be compliant with the Act’s terms.
You can file this report online or by uploading a PDF version to the FinCEN website. If you create your LLC in 2024, you’ll be expected to file within 90 days of Wyoming approving your Articles of Organization. LLCs organized prior to 2024 will have until January 1, 2025, to file. And LLCs that form in 2025 and onward will have just 30 days to file. For more info, please see FinCEN’s website.
Wyoming doesn’t have a state version of the BOI, so you’ll just need to tackle the federal filing. Our BOI report filing service can help with this step.
Once you have an EIN for your LLC, you’ll need to get a business bank account. This helps you separate your business expenses from your personal finances, thus giving you better personal asset protection. And with a business checking account, you can make tax filings easier on yourself (because you’ll be able to track business expenses without them being commingled with your personal spending).
To make things even easier, we offer a discounted bank account. With this account, you can get unlimited transactions, online banking, a debit card, and more. Set up your business bank account seamlessly with our guidance. ZenBusiness helps you manage your LLC’s finances, keeping your personal and business expenses distinct for better financial health.
And if you’re looking for more help managing your finances, check out ZenBusiness Money. This innovative platform enables you to create and send custom invoices, track tax-deductible expenses, and manage many other financial aspects of your small business.
Note: Looking for a way to establish a line of credit for your business? You might want to consider getting a business credit card (see definition page).
Fortunately, Wyoming saves businesses a lot of time by not having a corporate income tax or a gross receipts tax. But that doesn’t mean companies don’t pay any taxes. Taxes that your small business may need to pay include:
By default, single-member LLCs are taxed as sole proprietorships, and multi-member LLCs are taxed as partnerships. LLCs also have the option of being taxed as corporations. Talk to a tax professional to find out what options are available to you and what the best one is for your circumstances.
After forming an LLC in Wyoming, there are several important steps that need to be taken to ensure that your business operates smoothly and remains in compliance with state laws and regulations. Here’s an explanation of these steps:
Taking these steps will help ensure that your Wyoming LLC operates effectively and remains compliant with all necessary legal and financial obligations. Beyond LLC formation, ZenBusiness supports your business journey with annual report filings, compliance services, and more. Explore our suite of services designed to keep your Wyoming LLC in good standing.
Navigate the legal landscape and tax advantages of a Wyoming LLC with ease. Our guide covers everything from state-specific tax benefits to legal structures, helping ensure your LLC maximizes its potential.
LLCs are typically considered “pass-through entities,” meaning that the business itself typically doesn’t pay federal income tax on its profits. Instead, the responsibility to pay income taxes falls only on the individual. In a typical corporation, profits are taxed at both the business level and the individual owners’ level.
Single-member LLCs don’t have to file a separate federal return for their LLC. They report the LLC income on their personal income tax return (Form 1040). But LLCs with multiple members must file a separate informational federal return for the LLC, Form 1065. Then each LLC member reports their share of the profits on Schedule K-1 and attaches it to their own personal federal tax return.
Although LLCs are taxed as sole proprietorships or general partnerships by default, LLCs also have the option to be taxed as corporations. Some LLC members choose to classify their businesses as an S corporation or a C corporation, which can be advantageous for certain LLCs. In particular, many LLCs elect to be taxed as S corporations because it can save the members money on self-employment taxes. You can learn more on our “What Is an S Corp?” page.
You also have a few other forms of federal taxation to keep in mind. For example, you will likely need to pay self-employment taxes on your portion of the LLC’s profits. These are the taxes that go toward Social Security and Medicare. Fortunately, an LLC member can deduct half of the self-employment taxes paid as a business expense.
When it comes to state taxes, Wyoming is one of the few states that does not have individual or corporate state income taxes. In 2022, the Tax Foundation ranked Wyoming number 1 in the nation for how it taxes businesses and corporations. So, the profits on a pass-through entity like an LLC won’t even be subject to state income tax on the individual tax returns of the members.
However, LLCs do have to contend with Wyoming’s annual report license tax, which is $60 or two-tenths of one mill on the dollar ($.0002), whichever is greater based on the LLC’s assets in the state. This also applies to corporations and limited partnerships, so your LLC will still be responsible for this tax even if it’s being taxed as a corporation.
Wyoming does impose a state and local sales and excise tax on businesses. The good news is that it’s one of the lowest tax rates in the nation, according to the Tax Foundation’s 2022 midyear study.
For specific tax questions, talk to a trusted tax professional.
The LLC business structure gives you flexibility, and that extends to how you can choose to have your LLC taxed.
An LLC has pass-through taxation by default. This appeals to most owners of LLCs because it avoids “double taxation,” in which a corporation pays taxes at both the business level and again when the income is paid to the individual owners. But some LLCs opt to be taxed as a C corporation or an S corporation because, in their case, it works to their advantage.
Being taxed as a C corporation does mean you get double taxation, but, for certain LLCs, the pros sometimes outweigh the cons. One benefit is that C corporations have the widest range of tax deductions, which could be an advantage in some scenarios, especially for more profitable LLCs. For instance, employee insurance premiums can be written off as a business expense.
S corp (short for “Subchapter S Corporation”) is a tax status geared toward small businesses. Having your LLC taxed as an S corp has pass-through taxation like a standard LLC, but it has another potential advantage for some LLCs: It could reduce your self-employment taxes.
Self-employment taxes are the portion of your taxes that pay for Social Security and Medicare. In a typical LLC, you would pay these on all of your profits.
But filing as an S corp allows you to be an “employee-owner” and split your income into your salary and your share of the company’s profits. In this way, you pay employment taxes on your salary but not self-employment taxes on your profits. (You’ll still pay the other applicable taxes on your LLC profits, of course.)
One drawback is that the Internal Revenue Service scrutinizes S corps more closely, meaning you’re more likely to get audited. S corps also have more restrictions for qualifying.
Though it’s possible that one of the above options could work better for your LLC, remember that business taxes are complicated. They’re also very specific to your situation. That’s why you need to consult a tax professional to see which taxing method works best for your Wyoming business.
Wyoming doesn’t have any corporate or individual state income tax. Because of this, the potential benefits of filing as an S corp are primarily for federal tax purposes.
If you decide to form your Wyoming LLC with an S corp status, our S corp service can help you do that.
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You’ll need to make sure your LLC has all the licenses and permits it’s required to have by law. Wyoming doesn’t have a statewide general business license that’s required to do business in the state, but local governments may have one for their jurisdiction.
In addition to these, your business may need a variety of licenses and/or permits. Unfortunately, because licensing varies by industry and location and can occur on the federal, state, and local levels, there’s no central place to check to see if you have all the Wyoming business licenses and permits you need. You’ll have to do some research.
If you don’t have the time or inclination to do all this research, or if you just want the peace of mind of knowing that you have all the licensing your LLC is legally required to have, our business license report service can do the work for you.
The initial cost to form a Wyoming LLC is the $100 state filing fee for your Articles of Organization. Additional fees could apply to your situation that might increase the cost of starting a Wyoming LLC.
Wyoming is a fantastic place to start an LLC. One big advantage is that Wyoming does not have a corporate or individual income tax, which saves you money in the long run. Wyoming is also one of the few states that allows you to form a Series LLC. Furthermore, filings for Wyoming LLCs, such as annual reports, do not require members’ names to be entered into the public record.
The benefits of forming an LLC in Wyoming (as opposed to a corporation or partnership) are that you receive the tax benefits enjoyed by a partnership but the liability protection enjoyed by corporations. LLCs also have less stringent requirements than corporations and a more flexible management structure, giving you space to grow and develop your business.
The Wyoming Secretary of State reports that it can take up to 15 business days for their office to process formation documents. The clock starts when they receive the complete Wyoming LLC Articles of Organization (along with your filing fee). There isn’t an option to expedite the filing time with the Secretary of State at this time.
No, but you want to ensure that this official document is up-to-date and on-hand.
Most LLC owners decide to have their business taxed the default way, which is as a sole proprietorship (for single-member LLCs) or a partnership (for multi-member LLCs). This method only requires LLC members to pay taxes on their percentage of the profits on their personal tax returns. The LLC itself is not taxed. This avoids the “double taxation” that corporate shareholders pay, in which profits are taxed both at the business level and the personal level.
Another option is to choose to be taxed as a What is a C corporation? or an S corporation. This option sometimes is favorable for large LLCs that bring in high earnings. You can learn more on our S Corp vs. LLC and LLC vs C corporation pages. There are some disadvantages to consider when opting to be taxed as a corporation, so consult a qualified tax professional before making a decision.
Yes, Wyoming allows you to form a Series LLC. While the definition of a Series LLC varies by state, it involves forming a parent LLC and then designating separate series entities under the parent. A series LLC is intended to shield the LLCs involved from the liabilities of the others. Learn more about Series LLCs.
You dissolve your Wyoming LLC by filing Articles of Dissolution with the Secretary of State. But before you get to that step, you must wind up the business properly. Ideally, your operating agreement will discuss the steps to dissolve and wind up the business. If not, or if you don’t have one, you need to follow the procedure in the applicable Wyoming law.
Winding up your business might include having a formal meeting and holding a vote. Take time to research your situation and ensure that you follow the right steps in the right order. If you rush through the process, you may miss an important step and open yourself up to liability. Learn more about dissolving a Wyoming LLC.
You transfer the ownership interest of an LLC based on the operating agreement, existing law, or a contract. You would typically transfer ownership through an exchange. For example, the operating agreement may have a buy-sell provision whereby you agree to sell and someone else decides to buy your shares. Once the sale is complete, the buyer owns some or all of your interest in the LLC.
There are circumstances where an ownership interest in an LLC may transfer automatically. One such scenario would be if an interest holder dies. In that unfortunate event, the interest would likely pass on to an heir. Learn more about transferring ownership of a Wyoming LLC.
Yes, you can assign a trade name to another LLC in Wyoming. But you must file a Trade Name Assignment form with the Wyoming Secretary of State and pay the applicable filing fee.
Removing a member requires following the procedure laid out in the operating agreement, applicable state law, or a valid contract. In most cases, you won’t be able to remove a member automatically but instead may have the option to buy their portion of the LLC or have them leave some other way.
Yes, you need to file a Wyoming annual report for your Wyoming LLC. Under Wyoming law, this report is due on the first day of the anniversary month of your LLC’s formation. For example, if your initial filing date is May 15, your annual report is due on May 1 of each year. If you miss this deadline, the government may dissolve your business. If that’s the case, you may have to reform the business or file to reinstate the company, which costs you extra time and money.
During your annual report filing process, you’ll pay an annual license tax of $50 or $0.0002 on every dollar of assets, whichever is greater.
Set yourself up for success with our annual report service. We will send you reminders of upcoming filing deadlines, and help you file your documents accurately and on time. This can help you avoid late filing issues.
Writing a business plan isn’t required to create a Wyoming LLC, but it’s a good idea to make it a priority. A business plan is how you hone your vision, plan your production strategy, and make financial decisions and projections. You’ll likely reference and update this document throughout the formation process and the lifecycle of your business.
Plus, potential investors and partners will probably want to see your plan before they decide to do business with you. Need some help getting started? Use our business plan template.
DAO stands for Decentralized Autonomous Organization. A DAO is a type of limited liability company that isn’t controlled by a single governing body. Instead, decisions for DAOs are either controlled by a computer algorithm or investor votes. Learn more about DAO LLCs and how to start one in Wyoming.
Yes, Wyoming allows you to form an anonymous LLC through your registered agent. If you have your registered agent act as the Organizer for your Articles of Organization, you can keep your information from becoming part of the public record. Learn more about the anonymous LLCs definition.
Yes, a non-U.S. resident can form an LLC in Wyoming. The state of Wyoming, like many other states in the U.S., allows non-residents, including those who are not U.S. citizens, to form an LLC.
Looking to establish a Wyoming LLC as a non-U.S. resident? Learn how ZenBusiness simplifies this process, offering specialized support to global entrepreneurs.
At this time, Wyoming doesn’t offer the professional limited liability company business structure. If you’re a licensed professional like a lawyer, medical doctor, architect, or another licensed industry, you have other options. Professional corporations are one choice, but you could also form a standard LLC, a partnership (general, limited, limited liability, or limited liability limited partnership), or even a sole proprietorship.
Each business structure has its pros and cons, so if you’re not sure which structure is best for you, it’s recommended to chat with a Wyoming business attorney. They’ll be able to help you narrow down which business structure will be most advantageous for your professional business goals.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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