How to open your LLC in Wyoming?
- We open your LLC in Wyoming
- Starting at $459 and in less than 10 days
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[seopress_breadcrumbs]Opening an LLC in Wyoming is an excellent option for those who want to form a company in the United States. Wyoming is a state that offers many advantages for entrepreneurs, such as a low start-up fee ($100), simple and flexible management, and respected business privacy and anonymity.
If you are considering the option of opening your LLC in Wyoming, but you are not sure if it is the best option for you, or if you have questions about the steps to follow to open your LLC, don't worry. In this guide we will show you how to register your LLC in Wyoming in an easy and accessible way, and we will give you all the information you need to make the best decision. Let's get started!
Article indexWhy open an LLC in Wyoming?
There are several reasons why opening an LLC in Wyoming may be a great option for you:
Tax advantages
If you are thinking about establishing an LLC in Wyoming, you should know that the biggest advantage is tax flexibility.
In Wyoming, LLCs are treated as “pass-through entities” by the United States Internal Revenue Service (IRS), meaning they do not pay federal taxes on the business income. It is the owners who must report the LLC's income on their personal tax returns.
However, if your LLC does business in the state, it is possible for the LLC to pay state and local taxes in Wyoming, such as employer taxes, sales taxes, or property taxes.
Anonymity
A Wyoming LLC is anonymous because Wyoming privacy laws do not require member names to be listed in public records and allow a registered agent to represent the company. To add another layer of anonymity, you can even set up a mail forwarding address for the business, so no mail goes directly to you.
No one, not even the state government and the tax agency, knows the true owners of an LLC. The argument is that there is no benefit in making personal information public when the LLC operates as a separate entity from its members.
Flexibility
Corporate formalities and other such restrictions are kept to a minimum when incorporating and doing business in Wyoming. Less bureaucracy means more time to focus on what really matters. Wyoming has:
- No citizenship requirement
- No need to visit Wyoming
- Everything can be managed online
- Closed corporations allowed
- No Operating Agreement required
- No minimum capital contribution
Corporate Veil
One of the main advantages of the LLC is limited liability. The company's creditors cannot pursue the owners personally in the event of an accident or legal suit, for example. By forming an LLC in Wyoming, you do not put your personal assets at risk, separating them from those of the company.
LLCs in Wyoming offer the traditional corporate veil that protects personal assets from business creditors. It also offers charging order protection, even for single-member LLCs, which protects business assets from personal creditors.
Low Cost
The cost of forming your LLC in Wyoming is really low compared to the rest of the US states. The initial costs to open your LLC in Wyoming will be $100, and the annual report is only $62.
Who can open an LLC in Wyoming?
LLCs in the state of Wyoming can be formed by anyone in the world, regardless of nationality or residence. This person must be over 18 years old and have a valid passport.
How to open an LLC in Wyoming?
Now that you know that Wyoming is the state where you have decided open your LLC in the United States and that you meet the requirements to open it, let's see the steps that must be followed to have a 100% operational LLC in Wyoming.
1. Decide on the name of your LLC
Choosing the name of your LLC will be the first stage to follow before you can move forward with its registration.
Under Wyoming law, the name of an LLC must contain the words "Limited Liability Company", or the abbreviations "LLC" or "L.L.C.", "Limited Company", or the abbreviations "LC" or "L.C.", "Ltd. Liability Company", "Ltd. Liability Company". "Liability Company", "Ltd. Liability Co. Liability Co." or "Limited Liability Co.".
The name of your LLC must be different from other business entities already registered with the Wyoming Secretary of State. Name availability can be checked at this LLC name validator.
You can reserve a name. for 120 days by filing a Name Reservation Application with the Wyoming Secretary of State. The reservation must be submitted by mail. The filing fee is $50.
Don't forget to take domain name availability into consideration for your website!2. Choose the registered agent
It doesn't matter if you decide open your LLC in Delaware, if you prefer register it in Florida, or you choose to incorporate it in New Mexico or in Wyoming, every LLC must have a registered agent. The registered agent is a natural or legal person who agrees to accept legal documents on behalf of the LLC if it is sued.
When you form your LLC, your registered agent must provide a statement to the Wyoming Secretary of State confirming that you accept the position.
The registered agent must have a physical address in Wyoming and be:
- A natural person residing in Wyoming over the age of 18
- A domestic or foreign entity authorized to transact business in Wyoming that has a business office identical to such corporate headquarters.
It is essential that you be able to assign a trusted registered agent, because if the state of Wyoming cannot locate you, it may deregister your LLC after just 30 days.
For this reason, we recommend using with these recommended companies, which are responsible for registering your LLC and providing you with registered agent services, with annual renewal
3. Submit the "Articles of Organization" form
To legally form your LLC in Wyoming, Articles of Organization must be filed.
Before submitting the form to the Wyoming Secretary of State, be sure to have the following information:
- The name of the LLC available in Wyoming.
- The name and address of the registered agent of the LLC.
- The mailing address of the LLC.
- The address of the main office of the LLC
- Signature and contact information of the LLC organizer
5. Write your operating agreement
An Operating Agreement is an essential document for the functioning and operations of an LLC in Wyoming. This agreement establishes the financial, legal and management details of all members of the LLC, including dividend distribution, abandonment clauses, non-compete clauses and capital contributions.
Although it is not mandatory to have an Operating Agreement in Wyoming, it is highly recommended to have one to avoid conflicts and maximize control over your company's operations. If you do not have an Operating Agreement, your business is governed by the default rules under Wyoming law, which may not be appropriate for your company. An Operating Agreement allows you to adapt the rules to the specific needs of your company.
Here you can find a free template that will provide you with a good basis for writing your Operating Agreement.
Download Operating Agreement template6. Get an EIN
The last important step is to apply for an employer identification number (EIN). Like the Social Security number (SSN) for individuals, the EIN identifies your company to the Internal Revenue Service (IRS). EINs are free and available on the IRS website.
You will need an EIN to do things like:
- Hire and pay employees
- Open a bank account
- Obtain business licenses and permits
- Work with certain companies that require it
Delegate the creation of your LLC in Wyoming and avoid all these complex processes
What to do after registering my LLC in Wyoming?
Registering your LLC in Wyoming is only the first part. Once you have completed all the previous steps, there are some points that we recommend you take into consideration.
Set up a bank account dedicated to your Wyoming LLC
Para poder beneficiar de la protección del velo corporativo que ofrecen las LLC en Wyoming, es esencial mantener los activos personales separados de los activos de la empresa.
Para lograr esto, resulta imprescindible que abra una cuenta bancaria exclusiva y dedicada al 100% a las actividades de su LLC en Wyoming. This will allow you to not only benefit from the protection of the corporate veil, but also other additional benefits, such as simplified and centralized accounting. This way, you will be able to save time when doing taxes or tax reports.
In addition, by having a separate business bank account, you will be able to have better financial control of your company. This will help you better understand the income and expenses of your business, allowing you to make more informed financial decisions and plan for the future growth of your company.
Therefore, it is highly recommended that you open a dedicated bank account for your LLC in Wyoming and use it for all business transactions related to your company. Likewise, it is recommended that you consult with a financial advisor or a business attorney to ensure you comply with all relevant regulations and legal requirements in Wyoming.
The recommended banks for your business account as a foreigner from the USA are Mercury, Relay, Revolut, AirWallex, Wise, Bank of America, Chase.
Plan for taxation of your Wyoming LLC
- Wyoming law requires all LLCs to file an annual report every year. For most LLCs, the Annual Report fee is $60. All LLCs in Wyoming must file this Annual Report, even if you are not in business or earn $0.
- The Wyoming Annual Report for LLCs is due each year. It expires on the first day of the month of LLC formation (the month your LLC was approved). The good news is that your first annual report is not due until the year following the year of the LLC's formation.
- Every LLC has a different Tax situation, but we can provide an overview of your tax requirements regarding your LLC:
I) Federal Income Taxes: LLCs are pass-through entities: the profits and losses of the LLC will flow through your members' personal tax return.
II) State Income Taxes: Wyoming does not impose a state income tax.
III) Sales Tax: If your LLC will collect and remit sales taxes, you will need to register with the Department of Revenue. Wyoming.
IV)Local taxes: Depending on the city/county where your LLC is located, you may have to pay certain local taxes.
Meet your annual obligations
Your LLC must comply with certain obligations every year, such as renewing the Registered Agent.
As we said before, if your LLC does not have a registered agent, it can be dissolved within 30 days by the State of Wyoming.
Then, there is the annual tax return to the IRS. Even if you don't have to pay income taxes, you must declare it.
Don't forget the annual report we talked about earlier. If your Annual Report is not filed within 60 days of the due date, the Wyoming Secretary of State has the power to dissolve your LLC.
Apply for Licenses
Wyoming does not have a state-level business license (unlike some other states). But your LLC may need other Wyoming business licenses. Business licenses and permits in Wyoming are determined by the location of your business and the type of industry you are in.
You can investigate on your own, or you can contact the Wyoming Economic Development Agent at 307-234-6685. You can also contact your county, city, or town to see if they apply any local licensing or permit requirements.
Do you still have questions about registering an LLC in Wyoming?
What is an LLC?
An LLC is a way of structuring a business in which the legal entity of the company is separated from its owners.
In this way, the members of the LLC are protected from possible legal liabilities and benefit from greater tax transparency, since taxes are paid by the shareholders as individuals, not by the company. Additionally, in the event that there are no members of the LLC who are citizens of the United States, no taxes must be paid in the country.
How much does it cost to open an LLC in Wyoming?
Currently, the fee charged by the Wyoming Secretary of State is $100. Additionally, you should take into account the cost of the annual report, which is $60, added to the cost of hiring a registered agent, which ranges between $100 and $300.
How long does it take to open an LLC in Wyoming?
Once you have gathered all the information and filed your Articles of Organization, it may take up to 15 business days for the Wyoming Secretary of State to legally create your LLC.
Why is Wyoming one of the best states for LLCs?
Opening an LLC in Wyoming has many advantages over other states. It has no state income tax, filing and reporting costs are low, member privacy is guaranteed, and it has collection order protection laws.
How many members can an LLC have in Wyoming?
Las LLC de Wyoming requieren 1 (Unipersonales) o más miembros. There are no residency or age requirements. Remember that in Wyoming LLCs, members are not required to be listed in the articles of organization.
Are LLCs in Wyoming anonymous?
Yes, Wyoming is one of four states that allow the formation of an anonymous LLC. An anonymous LLC helps protect the privacy of its members because their names are not revealed in its “Articles of Organization.”
Are Wyoming LLCs required to file an annual report?
Wyoming requires that you keep your LLC information up to date by filing an annual report.
The Wyoming LLC Annual Report costs $60 per year. This fee is paid each year for the life of your LLC.
The annual report is due on the first day of the LLC's anniversary month. For example, if you founded your LLC on July 13, the annual report must be filed on July 1 of each subsequent year. Remember that you will only have to pay the first installment in the first year of the formation of your LLC.
Written by
Ignacio Navarro
Ignacio Navarro is a Certified Public Accountant, graduated in 2020 from the National University of Tucumán. Founder of Start Companies since 2023, he advises clients worldwide on forming LLCs in the United States and on proper tax filing. His expertise combines legal, tax, and practical knowledge, offering a comprehensive service that spans from company formation to bank account setup and sales platform integration.
