WYOMING PREMIER LLC PACKAGE

Why Incorporate in Wyoming?

Incorporating in Wyoming has the following advantages:

• • The state’s asset protection laws ensure that company members keep their assets in the event of a lawsuit.
  • Entrepreneurs living in and out of the United States can incorporate in Wyoming.

Can a non-resident open an LLC in Wyoming?

• • Wyoming allows non-residents or foreign entrepreneurs to form an LLC. However, companies from Cuba, Zimbabwe, Burma, North Korea, or similar countries can’t incorporate in the state.
  • Wyoming’s Secretary of State issues certificates of authority to foreign LLCs and corporations. These business entities can’t operate without these certificates.

Is a Wyoming LLC anonymous?

• • Several state laws make company information private yet accessible when necessary. Wyoming’s Secretary of State enforces these regulations by letting LLC owners submit articles of organization without a list of owners and members.
  • Furthermore, an LLC’s registered agent can only file and see personal information and business records.

Does a Wyoming LLC protect you?

• • Wyoming’s asset protection laws help LLC owners secure their assets during litigation. 
  • Creditors of LLC owners can file a charging order that requires a company to remit the owner’s supposed income to a judgment holder. If this situation arises, the business gets protection from potential creditor disruptions.

How do I prove I own a Wyoming LLC?

• • Your LLC’s operating agreement and EIN (Employer Identification Number) confirmation letter can be used as proof of business ownership.
  • An operating agreement lays out the company’s bylaws and presents how it operates for the owner's members. It lets you name and show your LLC’s sole owner or members. Meanwhile, an EIN confirmation letter should show the company’s authorized representative.

How Do You Start a Business in Wyoming?

• The following steps will help you open an LLC or corporation in Wyoming.

Consider What Your Business Can Offer

• • Start by considering potential business ideas. The following factors can help you narrow down your search:
  • What your interests are
  • What you can do (your skills)
  • What you need to run your company (resources)
  • How much time to spend on the business (your availability)
  • Why you’re starting a business
  • Whether your community will support your company
  • Once you’ve chosen your idea, create a business plan, which will allow you to see if your company is profitable. A professional advisor can help you do this.

Choose Your Company’s Legal Structure

• • Small businesses can be sole proprietorships, partnerships, LLCs, or corporations. Also, several of these entities have other forms. See which entity offers your desired level of liability protection and how it benefits your company’s taxes, financing, and resources.
  • If you need advice on selecting your organization’s legal structure, consider talking to a business expert.

Name Your Business

• • Before registering your company, it’s best to go with a unique and recognizable name. You can browse through businesses on the Wyoming Secretary of State website to see available names.
  • If you’re forming an LLC, the Secretary of State recommends including “LLC” in the business name. A corporation’s name can have “Inc.,” but you can choose not to use it.

Establish Your Business Entity

• • Creating a business entity may require filing certain documents with the Secretary of State. For a Wyoming LLC, the Secretary of State will need its articles of organization. Corporations must file articles of incorporation to be established.
  • Additionally, LLCs and corporations need registered agents to create their legal structures. A Wyoming LLC registered agent service accepts important legal and state documents on a company’s behalf.

Apply for Licenses & Permits

• • If your business is located in Wyoming, you should also obtain the necessary licenses and permits to operate in Wyoming, including:
  • Tax registration
  • Your EIN
  • Regulatory licenses and permits
  • Professional and occupational licenses

File Business Taxes

• • Wyoming doesn’t require businesses to pay corporate and personal income taxes. The state’s high fiscal health (an entity’s ability to serve people with sufficient resources) offers this advantage to new companies.
  • However, you must also file annual reports with the Secretary of State and pay federal income and employer taxes. You can partner with an external accounting firm or business formation specialist offering tax services to manage corporate taxes.

Procure Business Insurance

• • Business insurance can eliminate company liability and secure your personal assets if sudden issues arise. Several factors, like your physical location and state laws, determine your insurance options.
  • Insurers offer multiple types of business insurance. For example, general business insurance provides coverage to a company for claims caused by its products, operations, or on its premises.

Open a Business Bank Account

• • Your company also needs a bank account to track its income and expenses.
  • The requirements for opening a business bank account vary by bank and entity type. For example, LLCs need a business TIN (Tax Identification Number) and a copy of their articles of organization. You can provide another document if the articles of organization don’t designate who signs the necessary paperwork.