How To Move Your Corporation To Wyoming
MOVE YOUR CORPORATION TO WYOMING
Wyoming Corporation Domestication
If you would like to move your existing corporation to Wyoming, we can help you do this in a few easy steps after you signup online. If you would like to do it yourself, and just hire us as your Wyoming registered agent (which you’ll be required to have), you can just get everything from your home state and file all the paperwork yourself. Our price includes our $150 fee prepare and file all the paperwork with Wyoming (or some of the old popular states to incorporate in like Nevada, Delaware or Florida) and your home state, state fees and 1 year of our registered agent service.
Moving your business to another state is generally called “domestication.” Wyoming calls this transaction a foreign profit corporation Articles of Domestication in Wyoming. So if you have a corporation from your state, or an expensive state, you can move the domicile of the corporation to Wyoming AND still keep your original date of incorporation. We do this for people every week! It works pretty slick. We have to file a bunch of paperwork, and it’s a little bit of a process, but when you’re done, you’ll show an original filing date of whatever you initially filed your articles of incorporation.
The second most common request is for people to move their Nevada corporation to Wyoming. The most common is an LLC. Nevada has spent so much money promoting its lack of taxes or strong corporate veil. Nevada just seems to be getting more and more red tape. It is stuck between California and Arizona, and there’s a lot of population in that part of America, so regulation is needed, but for people that got suckered into incorporating in Nevada as the cheap and smart place to incorporate, they are starting to get a little tired of all the regulation. We have offices in every state, so we’re not some company in Wyoming that is biased at all. We don’t care where you keep your corporation. We can be your registered agent in any state. It’s just that we operate in every state, pay taxes to every state, and over the years, have put a lot of people in Wyoming because it’s the cheapest and least amount of red tape to maintain. Now, most states have to make money one way or the other. We call them “High Fee” states or “High Taxes” states. Then there are some that just have all the fees and taxes about in the middle. Most states are going to get your money one way or the other. The only thing different about Wyoming is that there are only about 650,000 people there. There’s lots of oil and coal and natural mining, which is big business. Then there’s thousands of people who don’t actually operate in Wyoming, but have companies there and Wyoming gets the small fee from them without any real downside to their budget. Wyoming has a moderate sales tax. Wyoming also has a great tourism industry with Yellowstone, Jackson Hole, and many other hot spots. Bottom line, Wyoming isn’t broke and isn’t going to be anytime soon. It’s about as red Republican of a state as you can get, and they aren’t going to be doing some drastic overhaul in adding more public services that cost money.
If you’re from Nevada or incorporated there, here’s the down-side to Nevada:
- You file the initial Articles of Incorporation for $75. (Which is all that most incorporating websites do for you or even tell you about.)
- You then have to file a list of corporation officers and directors every year for $125 a year. If you’re late, it’s another $75.
- The whopper is the annoying business license tax. This used to be $100 a year, and completely unregulated. Most people didn’t pay it because they never knew about it, or no one ever made them.
**Now, as of July 1st, 2009, the Nevada Department of Revenue shortfall has raised the annual business license to $200 a year. PLUS!! They have closed the loopholes people thought they could get through.
As of now, you’ll have to pay the $200 a year and pay all the years you didn’t pay, plus late fees, plus interest, just to file your annual list of officers and directors with the Nevada Secretary of State. So in order to keep your Nevada corporation in good standing, you’ll be stuck with HUGE bills if you’ve had a company for awhile and never paid your annual Nevada business license tax. We are getting phone calls almost every day from people asking us to help them because now they are looking at $1500 plus bills just to file their annual reports with Nevada.
We can help, but we have to act quickly. If you got a notice that you need to file your Nevada annual report soon and you just went to try to pay it, only to find out you now owe a whole bunch of money just to file your Nevada annual report, you might still be in luck. Here’s the process to domesticate your corporation in Wyoming. This is the process regardless of whatever state you are from. We do this for people in every state, but it’s just that Nevada is the most common exodus of corporations.
- We need to get a Certificate of Good Standing from your home state ($50 in Nevada. You can get one online instantly.). **The importance of the rush is that we need to get this done before Nevada decides you’re not in good standing. The foreign corporation MUST be in good standing to move the corporation to Wyoming.
- We need to get a current certified copy of your Articles of Incorporation and any amendments ($30 in Nevada + $75 if you want to do a state 24 hour expedite. Will take about 1-2 weeks without the expedite.).
- Need to prepare, but not file a Certificate of Dissolution for your home state ($75 in Nevada).
- Need to prepare and file the articles of domestication of a foreign profit corporation in Wyoming ($100).
- Then file the dissolution paperwork in your home state.
So your total if you have a Nevada corporation you would like to move to Wyoming would be:
$400 in state fees
$125 Northwest Registered Agent Service, Inc. as your Wyoming Registered Agent
$150 for us to do all the paperwork and dissolution paperwork in your home state or Nevada.
Nevada to Wyoming total: $675
If you are from a different state, our fees are the same. It’s just what your state will charge for a certified copy of the articles, a Certificate of Good Standing, and the dissolution filing. Most states charge very minimal fees for all of those; Nevada is one of the highest, so you might be looking at our fees plus about $50 max.
Wyoming requires everyone’s signatures to be originals. So if you want a super rush on this, there could be some overnight FedEx or UPS fees for you to get the documents back to us after you sign them.
If you would like our help to move your domestic corporation to Wyoming, you can sign up online for our Wyoming domestication service if you are transferring from Nevada, California, Florida or Delaware. To transfer from other states, please give us a call, submit your info on our Contact Us page, or you can sign up for our Wyoming incorporation service below.
It won’t ring up the total price to move your corporation to Wyoming, because everyone’s situation is usually a little different, and there are so many variables on what your home state fees will be, but it will get you close, and we can just take your credit card over the phone for the rest.
We help people move their corporations to Wyoming every week! In Wyoming, you only have the $50 annual report due each year. Click here for detailed instructions on how to file it. You can do it online for $52. There’s no filing with the Wyoming Department of Revenue, no annual fee with the Wyoming Department of Revenue, and Wyoming doesn’t track or care about the actual ownership of the company, because it doesn’t tax anyone on it. The only Wyoming tax is use and personal property tax, if you have items actually in Wyoming.