Start a Business in Wyoming
Starting a business in Wyoming is easy. All you need to do is file a few forms with the Wyoming Secretary of State and start running your business. Below, we show you how to get started and walk you through some of your options.
One option is, of course, to stop reading and just hire us to start your business for you. At Northwest, we form businesses and provide registered agent service throughout the US. That’s our business, and obviously we recommend starting your business in a certain way. We call it “Starting a Business the Right Way."
Starting your business the right way means hiring a registered agent to form your LLC or corporation so you can protect your privacy and receive the care your business needs to stay active. If you hire us to start your Wyoming business, we’ll be your registered agent, provide Privacy by Default®, a business address, mail forwarding and local Corporate Guide® service for life.
How to Start a Business in Wyoming
You file articles of incorporation for a Wyoming corporation or articles of organization for a Wyoming LLC with the WY Secretary of State, Business Division
You obtain a federal tax ID number (FEIN or EIN) with the IRS after you have confirmation and filed articles from the State of Wyoming showing your approved Wyoming business.
Opening a business banking account under your new Wyoming business name should be easy with these two items.
If you’re going to have employees or need to withhold sales tax, you will probably need to register with the WY department of revenue. We provide all these links in your online account.
If your business trade requires a license, you’ll have to apply for a license with the Wyoming licensing board. (Most businesses don’t need one.) But if you do, these quick links and contact details are in your online account.
Some local cities or counties have a general license, but most don’t.
You obtain a local trade license if the city or county you’re going to be working in requires it.
If you’re going to have an office or shop you might need an approval from the city zoning for your type of business in that location.
If you get overwhelmed, just get your business pulling in money and worry about regulations later.
Are you a do-it-yourselfer? You can save some money:
If you want to start a business in Wyoming yourself, you can just hire us as your Wyoming registered agent, and you’ll instantly have the Wyoming LLC or corporation forms to file along with filing instructions on the quickest, cheapest, and most efficient way to incorporate a Wyoming corporation or form a Wyoming LLC. You’ll get the ongoing support of our online tools, reminders and the support of a professional Wyoming statutory agent service.START YOUR WYOMING BUSINESS TODAY
Wyoming LLC vs Corporation
LLCs are great for small to medium-sized businesses. Because LLCs have fewer formal requirements, they’re easier to maintain over a long period. Large business owners often choose to start a corporation—having the option to sell stock is key for attracting investors.
But, what about Wyoming? Any pros and cons for a Wyoming LLC vs a Wyoming corporation?
When it comes to maintaining your privacy, there are some advantages to starting a Wyoming LLC versus a Wyoming corporation. For example, the Articles of Organization doesn’t require member or manager information. In addition, LLCs don’t need to include member/manager information on their annual reports. Corporations, however, must list officer/director information on annual reports.
Single member LLCs also have strong asset protection. Although most states allow creditors to obtain a charging order—placing a lien on the debtor’s interest—the claimants ability to request distributions will vary from state to state. In Wyoming, a creditor may not force an LLC to make distributions, making Wyoming one of the few states that extends the same charging order protection to single member LLCs. However, when it comes to filing fees, both LLCs and corporations will be treated equally.
Both business formation documents will cost $100 to file. Annual report fees will be based on your company’s total assets. Because most Wyoming businesses don’t have assets greater than $250,000, most LLCs and corporations will only pay the minimum $50 filing fee. If you file online, there is a $2 minimum processing fee.
There are no corporate or personal income taxes in Wyoming; however, the state does asses property and sales taxes. Property tax rates are determined by the county you live in and average at 0.61%. The state sales tax rate is currently 4%. However, some counties will asses an additional sales tax—potentially increasing your rate to as high as 6%.
If you want a corporation, you file Wyoming Articles of Incorporation.
To form a Wyoming corporation, file articles of incorporation. The Wyoming articles of incorporation cost $100 with the Wyoming Secretary of State, Business Division. We custom draft your Wyoming articles of incorporation when you hire Northwest to start your Wyoming business.
The basic requirements of Wyoming corporations are:
- The Wyoming corporation name must have a corporate ending such as incorporated, corporation or an abbreviation thereof.
- The number of shares the Wyoming corporation is authorized to issue.
- The name of the registered agent in Wyoming and the registered office address.
- The corporations principal office address and mailing address.
- The name and address of the Wyoming incorporator(s).
- The Wyoming incorporator(s) must sign the articles of incorporation.
- A contact name, email, and phone number.
Start Your Wyoming Business!GET STARTED
If you want a LLC, you file Wyoming Articles of Organization:
To form a Wyoming LLC, you file articles of organization and pay the $100 fee. Wyoming LLCs can now be formed online for an additional $2 fee. If formed online, you do not need to submit a Consent of Registered Agent form.
The basic requirements of Wyoming LLC filings are:
- The business name must have a limited liability company ending or variation of it
- New Wyoming LLCs name must be different than already registered Wyoming companies
- The Wyoming statutory agent and the physical address
- The principal place of business in Wyoming
- Contact’s name, email, and phone number
- The signature of the LLCs organizer