How to Start an LLC in Wyoming
Here are the 7 steps to start a limited liability company (LLC) in Wyoming
For more information on how to form an LLC in any state, see the article How to Form an LLC.
Find out how to form a Wyoming LLC for yourself
Learn about Wyoming LLC formation, including information on Registered Agents, naming rules, business licenses, and more.
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Creating an LLC in Wyoming
A limited liability company (LLC) offers many benefits to small businesses, including liability protection and tax advantages.
An Limited Liability Company LLC must be formed in Wyoming by filing the Articles of Organization with the Wyoming Secretary of State and paying the $100-$102 filing fee.
However, you’ll first need to choose a name and registered agent for your Wyoming LLC . If you file online, you can create an LLC in Wyoming immediately (or 4-5 weeks if you file by mail). There is no additional transit time because you can download your documents as soon as they are approved.
An LLC can be easily formed in Wyoming. Our step-by-step guide on How to Start an LLC in Wyoming will help you get started today. Find out more about LLCs and their benefits in our What is an LLC guide.
Step 1. Choose a Name for Your LLC Wyoming
Creating an LLC in Wyoming requires you to choose a business name before you can file a Articles of Organization. Be sure that your business name complies with the Wyoming naming requirements and can be searched by potential customers.
- Wyoming law requires an LLC name to contain the words “Limited Liability Company” or “Limited Company,” or the abbreviations “Ltd.,” “LLC,” or “LC.” “Limited” may be abbreviated as “Ltd.” or “LTD,” and “Company” as “Co.”
- It is not acceptable for your Wyoming LLC to have words associated with a government agency (FBI, Treasury, State Department, etc.).
- You should avoid using words or abbreviations that may make your LLC Wyoming appear to be a different type of entity, such as “LP” or “corporation”.
- There may be additional documentation and licensure paperwork required for certain restricted words (bank, lawyer, attorney, credit union, etc.).
- Check the state’s business name database to ensure the name you want is not already taken(including businesses no longer in operation)
See a complete list of Wyoming’ naming rules here.
Check URL availability: You are likely to need a web page even if you don’t think you do. Buying your domain name now will at least give you the option of having one in the future. It’s a good idea to check the URL availability before finalizing your Wyoming LLC name.
By filing an Application for Reservation of Name with the Wyoming Secretary of State, you can reserve a name for 120 days. The reservation must be sent through the mail. The cost of filing is $50.
An LLC stands for a Limited Liability Company. A simple business structure that is more flexible and offers many of the same benefits as a traditional corporation. For more information, see "What is a Limited Liability Company?".
A DBA isn't required for most LLCs. The LLC's name can also be used as your company's brand name, and you can accept checks and other forms of payment under that name. If you want to do business under a different name, you might want to register a DBA. To learn more about DBAs, read our "What does DBA mean" Guide.
Step 2: Appoint Your Registered Agent in Wyoming
Your next step in forming an LLC in Wyoming is to appoint a Registered Agent, an individual or company authorized to receive legal and state mail on your behalf.
All Wyoming LLCs must have a registered agent. Please include your registered agent’s name and address on your Articles of Organization.
Registered Agent Requirements in Wyoming
To comply with Wyoming law, your LLC’s registered agent must be a resident or business entity that maintains a physical address in Wyoming. The “registered address” cannot be a P.O. box. It must be a real physical address that can be visited in person.
Further, in Wyoming, your registered agent must agree to perform this role and sign a form confirming their consent. Consent statements should include the following:
- Written confirmation that the person designated consents to serve as the LLC’s registered agent
- The name of your Wyoming LLC and the person designated as your registered agent
- Registered agent’s signature
- Date of execution
Although you do not have to submit this form to the Secretary of State, your business must record it. Learn more about Wyoming Registered Agents by reading our full guide.
A Registered Agent must be a Wyoming resident or a corporation authorized to conduct business in Wyoming, such as a registered agent service. You have the option of electing someone from your company, including yourself.
Yes, It's a simple process to change your LLC's registered agent, but it's critical to do it correctly to avoid compliance issues. A registered agent is someone or a company that receives and sends legal documents on behalf of your LLC. After you've established your LLC, you can change your registered agent.
Are You looking for a Registered Agent?
Wise Business Plans offers a free year of registered agent service when forming an LLC in Wyoming.
Step 3.Prepare and File Articles of Organization
To create a Wyoming LLC, you will need to file Articles of Organization with the Wyoming Secretary of State. You may apply online, or by mail.
If you choose one of our business formation plans, we can handle this step for you.
The following information is typically required to create a Articles of Organization:
- Your LLC name and principal place of business.
- Name, address, and signature of the LLC’s registered agent
- Decide whether your Wyoming LLC will be member-managed or manager-managed. Indicate the names and addresses of each member and manager.
- The reason for forming the LLC in Wyoming.
- Name and address of the LLC’s organizer.
- The effective date of the certificate,
- The person forming the LLC must sign the Certificate.
Foreign LLCs: Even if you don’t live in Wyoming, you can form a Wyoming LLC. It is not necessary to be a resident of the state or the United States to form a corporation. Non-residents form the majority of LLCs. The procedure for forming an LLC as a non-resident in Wyoming is the same as for a resident.
A filing fee of $100 and this can be done by mail.
Two Ways to File the Articles of Organization
The 1st option is:
Online filing through the Wyoming Department of State
The 2nd option is:
Filing the Articles of Organization by Mail
There is a state filing fee of $100 payable to the Wyoming Department of State. (nonrefundable). Additional $2 fee if you file online.
Address to Mail
Wyoming Secretary of State
2020 Carey Avenue
Cheyenne, WY 82002
In a member-managed LLC, the members (owners) take on the business's daily responsibilities. Manager-managed LLCs are managed by managers who are elected by the members. Those who manage your LLC will have the authority to do a wide range of tasks-from hiring staff to opening bank accounts.
When an LLC conducts business in the state where it was formed, it is referred to as a "domestic LLC." Normally, when we talk about an LLC, we're talking about a domestic one. When an existing LLC wants to expand its operations to another state, it must form a foreign LLC.
If you file online, you can create an LLC in Wyoming immediately (or 4-5 weeks if you file by mail). There is no additional transit time because you can download your documents as soon as they are approved.
Step 4. Get a Certificate From the State
Upon filing your Articles of Organization, the secretary of state will review it. As soon as the Articles of Organization is approved, the LLC becomes a legal entity.
By obtaining this certificate, LLCs will be able to obtain an Employer Identification Number (EIN), licenses, and business accounts.
Step 5. Write an Wyoming LLC Operating Agreement
An operating agreement is a legally-binding document that sets out how your LLC will operate, from the voting process to mergers.
Operating agreements are not required in Wyoming, but they are an essential part of your business.
Written operating agreements are helpful for different reasons, including resolving disputes over financial agreements and other potential litigation.
The LLC declaration can prove that your LLC is a separate entity, which can help preserve your limited liability.
An operating agreement ensures that all business owners are on the same page and reduces the possibility of future conflict.
How should an operating agreement be drafted?
The operating agreement should detail the LLC’s overall business purpose and other important matters, such as how the company will be taxed and how new members will be accepted. Legal agreements can clarify several important concerns, such as:
- Who makes decisions for the company, especially those who decide if partners disagree.
- Who is responsible for different aspects of the business as well as for strategic decisions.
- If a partner leaves the company, what will happen to their ownership interests in the corporation.
- The members and their contributions
- How profits and losses will be divided
- Procedures for admitting new members and removing outgoing members
In Wyoming, you can include just about anything in your operating agreement, as long as it doesn’t violate the state law or the Articles of Organization.
Wyoming does not require an LLC operating agreement, but it is highly recommended. This is an internal document that lays out the rules for how your LLC will operate. It outlines the members' and managers' rights and responsibilities, as well as how the LLC will be managed.
A Wyoming single-member LLC is treated the same as a multi-member LLC for most purposes. In Wyoming, the steps to form a single-member LLC are the same as those outlined above. When it comes to filing a tax return, single-member LLCs have more options.
Step 6. Get an EIN for Your Wyoming LLC
Basically, an employer identification number (EIN) is a social security number for your LLC in Wyoming.
To identify your LLC for tax purposes, the Internal Revenue Service assigns a nine-digit Employer Identification Number (EIN). You can apply for your EIN either by mail or online.
An EIN is used for the following purposes:
- Manage state and federal taxes
- Create a business bank account
- Hire employees
Get an EIN Number in Wyoming
Getting an EIN number is easy and free, There are two ways to get an EIN number in Wyoming.
The 1st option is:
Apply online for an EIN from the IRS
The 2nd option is:
Get an EIN by Mail or Fax
Address to Mail
Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
Yes, Wyoming businesses that are either registered as a partnership, corporation, or multi-member Limited Liability Company, or as a sole proprietorship or single-member LLC with employees, will require an EIN.
A tax classification will be discussed with you when you obtain an EIN. In most cases, LLCs choose the default status.
Some LLCs can reduce their federal tax obligation by electing S corporation status. Consult with a local accountant to find out which option is best for you.
Step 7. File Your Annual Report
The Secretary of State requires all Wyoming LLCs and foreign LLCs authorized to do business in the state to file an annual report. Based on the company’s assets located and employed in Wyoming, all LLCs must pay an annual report license tax equal to the greater of (1) $50 or (2) two-tenths of one mill on the dollar ($.0002).
The tax and report can be submitted online.
Due date: The first of the month following the LLC’s formation. For example, if your LLC was formed on July 14, 2018, your annual report and license tax will be due on July 1st each year after that. In the year of formation, LLCs are not required to file an annual report or pay an annual license tax.
Late Filing: If you miss your filing deadline in Wyoming, you will not be charged a late fee. For failing to file an annual report, Wyoming will dissolve your LLC after 60 days.
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What to do After Forming Your Wyoming LLC
Keep your personal and business assets separate
Your personal assets (such as your home, car, and other valuables) may be at risk when your Wyoming LLC is sued if they are mixed with your business accounts.
Here are some steps you can take to protect your LLC in Wyoming:
1. Create a Business Plan:
If you have decided that a Wyoming LLC will be a good choice for your business in Wyoming, your next step is to create a business plan (although it is not required), so that you have a roadmap for what you will do and how you will accomplish it.
Free: Business Plans Examples
Do you need help creating a business plan? Check out these six free, proven business plan examples from different industries to help you write your own.
2. Open a Bank Account
As soon as your LLC is officially formed, you should open a business bank account. Why? Keeping separate bank accounts will help you maintain the legal distinction between the LLC and you (the owner).
Because LLCs are limited liability companies, creditors and litigants can’t take your assets.
It is essential for small business owners to partner with the right bank. Find out which banks offer the best business checking accounts, have low or no fees, ATM accessibility, and interest-earning accounts as well as online or mobile banking tools.
Recommended: Check out our business bank account page to learn which banks offer the best business check accounts, ATM access, interest-bearing accounts, and online and mobile banking options for businesses.
3. Obtaining a business credit card:
- Allows you to separate personal and business expenses.
- Develops your company’s credit history, which can be helpful to raise capital (e.g., small business loans) later.
4. Hiring a business accountant:
- It prevents your business from overpaying taxes while preventing penalties, fines, and other costly tax mistakes.
- Gives you more time to focus on your growing business by simplifying bookkeeping and payroll.
- Manage your business’s funding more effectively. Find out where extra profit or loss can be made
Getting Business Insurance for Your LLC
You can manage risks and grow your LLC with business insurance. Here are the most common types:
- General liability insurance protects your business from lawsuits. Most small businesses purchase general liability coverage.
- Professional liability insurance protects professionals and businesses from claims of negligence from their clients or customers. Liability insurance typically covers negligence, copyright infringement, personal injury, and more.
- Workers’ compensation insurance: Covers illnesses, injuries, and deaths resulting from a worker’s work.
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- General business liability insurance
- Medical insurance
- Term life insurance
- Workers’ Comp
- Surety bonds
- Commercial auto
Create Your Business Website
A website is an important step in legitimizing your business. It is essential for all businesses. You are missing out on a large percentage of potential customers and revenue if you don’t have a website, even if your business is too small or in an offline industry.
More than 90% of consumers begin their search for products and services online. If you don’t have a website that is ready to welcome your customers, then they will simply find your competitors.
Here are the main reasons why you shouldn’t delay building your website:
- Every respectable firm has a website. When it comes to getting your firm online, size or sector isn’t a concern.
- Creating a basic website has never been easier, thanks to website builder tools like the GoDaddy Website Builder. To design a website, you don’t need to hire a web designer or developer.
Recommended: If you want to enhance your conversion rates and maximize revenue in order to help expand your business and meet objectives, you should always hire a professional business website design company to build your business website.
Wise Business Plans is a leading web design company, We have created over 2000 + websites across 20 countries for our clients but we are physically based in 7 major cities in the United States including Alabama web design, Pennsylvania, Las Vegas, Colorado Springs, Iowa, Michigan and San Diego.
Wyoming LLC FAQs
A Wyoming limited liability company (LLC) costs $100-$102 to form online. When the LLC's Articles of Organization are filed with the Wyoming Secretary of State, this fee is paid.
Wyoming's asset protection laws are the best in the country, with low fees, no taxes, and anonymous ownership. Online retailers, real estate investors, and holding companies are just a few of the industries that benefit from the formation of Wyoming LLCs.
You should file a Wyoming Amendment to your Articles of Organization form to make a Wyoming LLC amendment. Any and all changes to the information in your LLC's original Articles of Organization must be included.
Simply follow these three steps to dissolve an LLC in Wyoming:
Step 1: Follow Your Wyoming LLC Operating Agreement.
Step 2: Close Your Business Tax Accounts.
Step 3: File Articles of Dissolution.