LLCs in Wyoming are affordable and easy to form. And as with other states, the State of Wyoming has some specific LLC requirements that are unique to the state.
Interested parties must register with the Secretary of State by filing the necessary forms, paying the necessary fees, and meeting all naming and formation requirements.
The specifications required of a Wyoming LLC are:
Registration. Registrants must file articles of organization with the Secretary of State by mail. An email address must be indicated for electronic certificates sent by the Secretary of State. The articles must include pertinent information such as:
- LLC name, principal office address, and mailing address
- Registered agent’s name and address
- Organizer’s name, daytime phone number, email, and dated signature
- An original signed Consent to Appointment by Registered Agent
All documents submitted must be accompanied by the payment for the filing fee.
Forms and fees. LLC registrants are required to file articles of organization, accompanied by the necessary filing fee.
Timeline. There is a standard turn-around time of three to five business days for processing of business forms and files. No expedited services are available.
Naming requirements. LLC naming requirements can be confusing. However, the easiest way to make sure that your LLC name will be approved is to make it distinguishable from those of other LLCs and to include specific required words. You may opt to have a preferred name checked for availability before filing your LLC formation documents with the Secretary of State.
Formation requirements. To form an LLC, a registrant must first file articles of organization with the Secretary of State.
An LLC with more than one member is also strongly advised to have a limited liability company operating agreement among its members.
Should your LLC offer professional services, you may have to obtain certain licenses and permits from the state’s professional licensing boards.
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Starting an LLC in Wyoming
Before you begin the registration process for an LLC in Wyoming, it’s important to know what an LLC is and whether or not it is a viable business structure for your company, so be certain to read up on the definition and benefits of an LLC .
These steps will guide you through the LLC registration process with the Wyoming Secretary of State:
1. Decide on a name for your business.
You can choose any name for your LLC as long as it ends with “Limited Liability Company,” “Limited Company” or any variation of its abbreviation—e.g., LLC, L.L.C., LC, L.C. or Ltd. Co.
A name may be reserved for up to 120 days. You must file a name reservation application, in duplicate, with the Secretary of State. This may be done by mail or online. All requests must be accompanied by the filing fee. Be sure to include the name to be reserved, a contact person’s name and daytime number and the applicant’s name, address and dated signature.
You may also have a preferred name checked for availability by accessing the Secretary of State website.
2. Assign a registered agent for service of process.
This is also referred to as the resident agent.
3. Get an Employer Identification Number (EIN) from the IRS.
If there are two or more members in your LLC, your company will need to obtain an EIN from the IRS, for tax purposes.
4. Create an operating agreement.
Although LLCs in Wyoming are not required to have a limited liability company operating agreement, it is wise to have one in place with other members should your LLC have more than one member. The State of Wyoming recognizes limited liability company operating agreements as governing documents.
5. Pay the license tax.
LLCs in Wyoming are required to pay a license tax based on all the assets the LLC may have and employ in the state. LLCs with $250,000 or less in assets are required to pay a minimum license tax of $50.
6. Familiarize yourself with the LLC’s continuing legal obligations, specifically annual reports.
These are due every year on the first day of the anniversary month of the LLC formation. Reports are filed with Secretary of State either online or by mail. Online filings are subject to additional fees and a convenience based on license tax. Late filings and payments may result in LLC dissolution or revocation. If your annual report fee is more than $500, you will not be allowed to file your report online.
Make sure that your LLC, should it offer professional services, meets state legal requirements.
Continuing legal obligations may vary with each state. These could be, but are not limited to, state taxes, annual or biennial reports and so on.
Filing an LLC and taxes
Following are the forms and fees that are required when starting a Wyoming LLC:
1. Forms. Complete and submit articles of organization with the Secretary of State. All documents submitted must be accompanied with the payment for the necessary filing fee.
2. Limited liability company operating agreement. Although the LLC operating agreement will not be submitted to the Secretary of State, it is a good idea to have one in place for LLCs with more than one member. This document should be kept on file by the registered agent.
3. Taxes. LLCs in Wyoming are treated as corporations, limited liability partnerships or single-member LLCs and are subject to federal income tax classifications. Depending on the type of taxation you opt to have for your LLC, you will have different federal tax responsibilities. LLCs in Wyoming are also required to pay a license tax based on all the assets the LLC may have and employ in the state. LLCs with $250,000 or less in assets are required to pay a minimum license tax of $50.
4. You should always make sure to acquaint yourself with the state laws regarding taxation. Your LLC may be subject to other taxes depending on the kind of services it offers.
LegalZoom provides LLC formation and filing services, including providing a registered agent in Wyoming.