Forming an LLC in Wyoming

The cost of having an LLC in Wyoming can vary based on a number of factors. The type of business, location, and whether the LLC has employees can affect the licenses, permits, taxes, and associated fees your LLC is required to pay. A fee schedule for LLCs can be found on the Secretary of State's website.

The fee to register your LLC in Wyoming and file your articles of organization is $100 ($102 if you file online).

To maintain your LLC in Wyoming, you must pay the annual report license tax of $60 or two-tenths of one mill on the dollar ($.0002), whichever is greater based on the LLC's assets located and employed in the state of Wyoming. You may also have to pay for additional licenses and permits depending on your LLC's location and the type of business it is.

In Wyoming, you can form different kinds of LLCs:

• Single-member LLC: A single-member LLC is made up of one member. It's similar to a sole-proprietorship but offers asset protection to the business owner who reports the LLC's income and expenses on personal tax returns.
• Multi-member LLC: A multi-member LLC is comprised of two or more members or managers who share control of the business. The members can run the business themselves or opt to be manager-managed by allowing nonmembers to control the business activities.
• Professional LLC: Wyoming does not have professional LLCs per se. The state allows professional corporations, which must end with the words "Professional Corporation" or the capital initials "P.C." A professional corporation can form an LLC, following the standard LLC formation rules. You would then wind up with something like "P.C., L.L.C."
• Close LLC: Wyoming allows the formation of close LLCs. Wyoming law requires this type of LLC to have a statement in its operating agreement stating that the business is a close limited liability company. The significant difference between this structure and a regular LLC is that any member selling an interest in the organization requires the approval of all other members.
• Series LLC: Wyoming is one of a few states that allow "series" LLCs, which are a group of LLCs operating under one master entity. This is intended to spread the risk of various ventures by providing liability protection across multiple series to protect each from liabilities from the others.

A certificate of formation documents the registration of your business. In Wyoming, it's called "articles of organization." You might need a certified copy of your articles of organization for opening bank accounts, merchant accounts, or getting loans for your LLC. You can request a certified copy of your initial filing or certified articles of organization with Wyoming Secretary of State's certified copy/certificate request form. There's a $10 fee for certified copies that are 10 pages or less and all certificates are $20.

You might have to obtain a certificate of good standing from the Wyoming Secretary of State if you want to register your business as a foreign LLC in a different state or jurisdiction, open a business bank account, or apply for financing. You can do this by paying the $20 fee and using the certificate request form.

To form an LLC in Wyoming, the following is required:

• Choose a valid business name
• Select a registered agent with a physical address within Wyoming
• Draft an operating agreement (not required by Wyoming law, but recommended)
• File your articles of organization with the Wyoming Secretary of State and pay the $100 filing fee

Benefits of forming an LLC in Wyoming include:

• Limited personal liability protection for members for business debts and lawsuit
• Fewer reporting and recordkeeping requirements than other kinds of entities, including corporations
• Avoiding the double taxation—business and personal—of corporations if taxed as a pass-through entity
• No requirement to disclose the identification of members to the public

To maintain your Wyoming LLC, you must file annual reports with the Secretary of State and pay the annual business license tax. If applicable, register and pay state unemployment insurance and workers' compensation fees. You should apply for and maintain any required local business licenses and permits and pay any required local, state, or federal taxes.

No. Articles of organization can be obtained from the Wyoming Secretary of State after you successfully file the articles of organization that are required to form an LLC in Wyoming. The certificate proves your LLC is a legitimate business in the state of Wyoming.

An operating agreement is a contract between members of an LLC that defines the interest of each member and governs the LLC's business operations. Unlike articles of organization which are required by the state, an operating agreement is optional.

If your LLC is doing business as (DBA) under a different trade name, you can file an application to register a trademark or service mark with the Wyoming Secretary of State. The filing fee is $100, and you will be required to include the name of your LLC's members on the application. You can also reserve the DBA you want to use by filing an application to reserve a trade name and paying the $30 fee.

While LLCs don't have to get a state business license, they are required to pay a “business license tax" when filing its annual reports based on the value of the LLC's assets located within the state. You could be required to get certain licenses and permits for your LLC based on its location and the type of business it's doing.

Yes. As long as your LLC has not previously been registered with the Wyoming Secretary of State, you can use the business center wizard to file your articles of organization online. You can also choose to use a business formation company to help with LLC formation process.

The address for the Wyoming Secretary of State is:

Secretary of State
Herschler Building East, Suite 101122
W 25th Street
Cheyenne, WY 82002-0020

You can use a professional service for your LLC's registered agent for privacy protection, keeping your LLC compliant, and receiving service of process on your behalf.

A domestic LLC is originally formed in Wyoming. It is created and registered by filing articles of organization in Wyoming.

To conduct business in a different state, you can register in that state as a foreign LLC. You should check with the appropriate government agency in that state or jurisdiction to confirm what's required to apply as a foreign LLC there. Typically, those steps include completing the following:

• Do a search to make sure your LLC's name is available to use in the state
• Obtain a certificate of good standing from your LLC's home state
• Complete and submit the state application to register as a foreign LLC (along with your certificate of good standing and filing fee)
• Apply for other required state and local business licenses or permits

If you have an LLC in another state or jurisdiction and want your LLC to do business in Wyoming, you can file an application for a certificate of authority for your foreign LLC and pay the $150 state filing fee. An original certificate of existence or good standing from your LLC's home state must be submitted with the application.

You can dissolve your LLC in Wyoming by filing articles of dissolution and paying a $60 filing fee. To dissolve, your LLC must be active and in good standing in Wyoming.

Yes. Wyoming is one of the four states allowing the formation of an anonymous LLC. An anonymous helps protect its members' privacy because their names are not disclosed in their articles of organization.