How to Start an LLC in Wyoming

Wyoming is considered a favorable location for starting a business due to its business-friendly environment, which includes no state income tax, low filing fees, and strong privacy protections for business owners. As of the latest data, Wyoming hosts a significant number of active LLCs, with a notable distinction between domestic and foreign LLCs. In the most recent reporting period, a substantial number of new LLCs were formed, while a smaller number were dissolved. To look up LLCs in Wyoming, you can use the Wyoming Secretary of State's business entity search tool.

The formation and operation of LLCs in Wyoming are governed by the Wyoming Limited Liability Company Act. This act covers various aspects of LLCs, including their formation, management, and dissolution.

• Step 1: Choose a Business Name
  The name must be distinguishable from existing entities and include "Limited Liability Company" or "LLC." Use the name availability search tool to check availability.
• Step 2: Appoint a Registered Agent
  A registered agent is required to receive legal documents and service of process. They must have a physical address in Wyoming and consent to the appointment.
• Step 3: File the Necessary Paperwork
  File the Articles of Organization with the Wyoming Secretary of State. Different forms are used for domestic and foreign LLCs.
• Step 4: Get an Employer Identification Number (EIN)
  An EIN is necessary for tax purposes and can be obtained from the IRS EIN application page.
• Step 5: Obtain Business Licenses and Permits
  While Wyoming does not require a statewide general business license, local or industry-specific permits may be necessary. Check the Wyoming Business Council for more information.
• Step 6: Register for Local and State Taxes / Submit Local Filings
  Register with the Wyoming Department of Revenue for applicable taxes. Visit the Department of Revenue for guidance.

Business owners should remember to file annual reports and renew licenses to maintain good standing. Annual reports can be filed through the Wyoming Secretary of State's filing portal.

What is an LLC?

A limited liability company (LLC) is a separate legal entity that offers limited liability protection to its members. It combines elements of partnerships and corporations, providing pass-through taxation benefits. In Wyoming, LLCs are governed by the Wyoming Limited Liability Company Act. Single-member LLCs are owned by one person, while multi-member LLCs have two or more owners. Foreign LLCs must register with the state to operate in Wyoming, meeting specific conditions and qualifications.

To form an LLC in Wyoming, you must file Articles of Organization, designate a registered agent, and adhere to naming rules, which prohibit certain words like "bank" or "trust." There are no residency or age restrictions for members or managers.

Step 1: Wyoming LLC Name Search

An LLC name must be legally distinguishable from existing entities on the Secretary of State's records. Use the Wyoming Business Entity Search tool to check name availability. This tool is for preliminary searches, and final availability is confirmed upon filing. If the name is available, you can reserve it for 120 days for a fee or proceed directly to filing. Names must include "Limited Liability Company" or "LLC" and avoid restricted words. It's advisable to search the United States Patent and Trademark Office (USPTO) database to avoid trademark conflicts. If the name meets all requirements, submit a name reservation request using the "Name Reservation" form available on the Secretary of State’s website.

Step 2: Choosing an LLC Registered Agent in Wyoming

A registered agent in Wyoming is responsible for receiving service of process, legal, and tax documents. Requirements for a registered agent include:

• Must be an individual or entity authorized to do business in Wyoming
• Must have a physical street address in Wyoming (no P.O. Boxes)
• Must consent to the appointment
• The LLC cannot serve as its own agent

The registered agent’s information is public and can be searched on the Wyoming Secretary of State's business database. To resign or replace a registered agent, file the "Statement of Change by Entity" form with the Secretary of State.

How Do I Change the Registered Agent for My LLC in Wyoming?

To change a registered agent in Wyoming, submit the "Statement of Change by Entity" form. Include the LLC name, new registered agent's name and address, and entity ID. File online, by mail, or in person with the Secretary of State. The filing is free. For commercial agents, ensure compliance with additional requirements.

Step 3: LLC Filing Requirements in Wyoming

To form an LLC in Wyoming, file the Articles of Organization, which must include the LLC name, registered agent, management structure, and business address. An Operating Agreement is optional but recommended. Foreign LLCs must file a Foreign Registration Statement and provide a Certificate of Good Standing from their home state.

LLC Articles of Organization in Wyoming

The Articles of Organization legally establish an LLC in Wyoming. They require the LLC name, purpose, registered agent, principal office address, and management designation. File online, by mail, or in person using the "Articles of Organization" form. The Wyoming Secretary of State processes these filings.

LLC Operating Agreement in Wyoming

An LLC Operating Agreement outlines the management structure and member roles. While not legally required in Wyoming, it is recommended to prevent disputes and clarify profit distribution. It does not need to be filed with the state.

Wyoming LLC Statement of Information

Wyoming does not require a Statement of Information or annual report for LLCs. However, LLCs must file an annual report with the Secretary of State, due on the anniversary of formation. The filing fee is $50, and it can be submitted online through the Secretary of State's portal.

Do You Need a Wyoming Address for an LLC?

Yes, a principal business address is required in Wyoming and must appear in the Articles of Organization. It must be a physical street address within Wyoming. The registered agent’s address can be used if the business lacks a separate location. Virtual office services are a common solution for businesses without a physical presence in Wyoming.

How to Get a Virtual Address for an LLC in Wyoming

A virtual address provides a business address for mail handling and operations. Common services include virtual office services, mail handling, and additional services like phone answering. Research providers based on pricing and compliance needs. Note that a virtual address cannot serve as the registered agent address, which must be a physical street address.

Step 4: How to File for an LLC in Wyoming?

File for an LLC in Wyoming online, by mail, or in person. Use the "Articles of Organization" form, which must include the LLC name, registered agent, and management structure. The filing fee is $100, payable by check, money order, or credit card. Submit to the Wyoming Secretary of State at their office address. After submission, expect confirmation of approval or rejection. No Notice of Publication is required in Wyoming.

How to Create an LLC Online in Wyoming?

Wyoming allows online LLC formation through the Wyoming Secretary of State's portal. Typically, an LLC can be created within 15 minutes. Follow these steps:

• Select "Start a Business" from the Online Services menu
• Complete the "Articles of Organization" form
• Provide submitter information and registered agent details
• Pay the filing fee using Visa or Mastercard
• Receive confirmation by email

No post-formation Statement of Information is required.

Can You Have Multiple Businesses Under One LLC in Wyoming?

Yes, an LLC in Wyoming can operate multiple businesses under one entity. Registering fictitious business names (DBAs) may be required, filed with the Secretary of State. Apply for a trade name using the appropriate form and fee. Separate licenses or permits may be needed for each business activity. Maintain separate financial records to manage liability risks. Wyoming does not support series LLCs.

How Long Does It Take to Set Up an LLC in Wyoming?

Estimated processing times for forming an LLC in Wyoming are:

• Online filing: Immediate to 1 business day
• Mail-in filing: 5-7 business days
• In-person filing: Same as mail
• Expedited processing is not available

Factors affecting processing time include incomplete filings and name conflicts. The Wyoming Secretary of State handles LLC formation.

Step 5: How to Get an EIN for an LLC in Wyoming

An EIN is a federal tax ID for LLCs, necessary for tax reporting and opening bank accounts. Apply online through the IRS EIN Assistant for immediate issuance. Alternatively, submit IRS Form SS-4 by mail or fax. Processing times are 4 business days for fax and 4 weeks for mail. International applicants have specific instructions and contact details.

Step 6: Do LLCs Pay Taxes in Wyoming?

LLCs in Wyoming do not pay state income tax. By default, they are taxed as pass-through entities, meaning members report income on individual returns. LLCs can elect corporate taxation, incurring corporate tax obligations. State-specific taxes include sales tax and employment taxes. The Wyoming Department of Revenue manages tax collection.

How are LLCs Taxed in Wyoming?

LLCs in Wyoming are taxed as pass-through entities, with members' income taxed on individual returns. There is no state income tax for individuals. LLCs can elect to be taxed as C-corporations, subject to corporate tax rates. Other taxes may include sales tax and employment taxes. The Wyoming Department of Revenue provides relevant forms and publications.

Do You Have to Renew an LLC Every Year in Wyoming?

Yes, Wyoming requires LLCs to file an annual report. The report is due on the anniversary month of formation and can be filed online. The filing fee is $50. Failure to comply may result in administrative dissolution. The Wyoming Secretary of State handles renewals.

How Much Does It Cost to Start an LLC in Wyoming?

Starting an LLC in Wyoming involves the following costs:

• Articles of Organization filing fee: $100
• Foreign registration fee: $100
• Annual report fee: $50
• Optional services: Name reservation ($50), DBA registration, registered agent fees ($50–$300/year)
• Professional service fees if applicable

Total costs range from $100 for filing-only to higher amounts with additional services.

Can You Form an LLC for Free in Wyoming?

No, forming an LLC in Wyoming is not free due to mandatory filing fees. To minimize costs, file documents online, act as your own registered agent, and avoid unnecessary services. Visit the Wyoming Secretary of State's website for up-to-date fee information.

How to Start an LLC in Wyoming for Free or at a Reduced Cost?

Wyoming does not offer fee waivers for LLC formation. To reduce costs, file online, act as your own registered agent, and avoid optional steps like name reservation. Ensure accurate filings to avoid correction fees. Check the Wyoming Secretary of State's website for current fee details.

What Businesses Should Consider Forming an LLC in Wyoming?

LLCs are attractive for liability protection, tax flexibility, and simplicity. Businesses that benefit include small businesses, professional services, real estate investors, retail, creative businesses, and tech companies. Most legal businesses can form an LLC in Wyoming, but consult professionals for specialized needs.

What Are the Benefits of an LLC in Wyoming?

LLCs in Wyoming offer:

• Limited Liability Protection: Shields members from personal liability
• Separate Legal Identity: Can enter contracts and own property
• Pass-Through Taxation: Income taxed at the member level
• Flexible Management Structure: Member or manager-managed
• Ease of Formation: Simpler than corporations
• Perpetual Existence: Continues despite member changes
• Increased Credibility: "LLC" adds legitimacy

Wyoming offers tax exemptions and simplified filings, enhancing these benefits.

How Does an LLC Work in Wyoming?

LLCs operate as hybrids of corporations and partnerships, offering limited liability and pass-through taxation. Single-member LLCs are owned by one person, while multi-member LLCs have multiple owners. Forming an LLC requires filing Articles of Organization with the Wyoming Secretary of State. Members manage the LLC or appoint managers, and Operating Agreements define governance. Compliance includes maintaining records and filing reports.

LLC vs. S Corp in Wyoming

LLCs and S Corporations differ in:

• Ownership: LLCs have unlimited members; S Corps have up to 100 shareholders
• Management: LLCs are flexible; S Corps have a corporate structure
• Taxation: LLCs are pass-through entities; S Corps offer self-employment tax savings
• Formalities: S Corps require more maintenance
• Credibility: S Corps may appeal more to investors

LLCs can elect S Corp taxation by filing IRS Form 2553.

LLC vs. Sole Proprietorship in Wyoming

LLCs and sole proprietorships differ in:

• Liability: LLCs offer protection; sole proprietors are personally liable
• Formation: LLCs require state filing; sole proprietorships may need a DBA
• Ownership: LLCs can have multiple members; sole proprietorships are single-owner
• Taxation: LLCs have flexible options; sole proprietors report on personal returns
• Complexity: Sole proprietorships are simpler; LLCs offer more protection

Choose based on liability, complexity, and growth plans.

LLC vs. Corporation in Wyoming

LLCs and corporations differ in:

• Ownership: LLCs have members; corporations have shareholders
• Formation: LLCs file Articles of Organization; corporations file Articles of Incorporation
• Management: LLCs are flexible; corporations have a board and officers
• Taxation: LLCs are pass-through entities; corporations face double taxation
• Formalities: Corporations have stricter requirements

Choose based on goals, tax strategy, and governance needs.

Business License vs. LLC in Wyoming

An LLC is a legal structure providing liability protection, while a business license permits legal operation. Forming an LLC does not exempt from licensing requirements. LLC formation is handled by the Secretary of State, while licenses are managed by local agencies. Most LLCs need licenses based on activity and location.

Do I Need a Business License if I Have an LLC in Wyoming?

Yes, an LLC is a business structure, not a license. Wyoming does not offer a statewide license; local governments issue them. Check with the Wyoming Business Council for specific requirements.

How to Dissolve an LLC in Wyoming

Before dissolving, review the operating agreement, conduct a dissolution meeting, and notify stakeholders. File the "Articles of Dissolution" with the Secretary of State. Domestic and foreign LLCs must file appropriately. Notify the Department of Revenue and close tax accounts. Processing takes time, and reinstatement is possible within 120 days if needed.