Forming an LLC (Limited Liability Company) in Wyoming is an excellent choice for many entrepreneurs looking for a business-friendly environment. Wyoming has earned a reputation as one of the best states to form an LLC due to its low costs, strong privacy protections, and no state income tax. In this step-by-step guide, we’ll cover everything you need to know about how to start an LLC in Wyoming in 2025. Whether you’re a seasoned entrepreneur or a first-time business owner, you’ll find that the process is simple and straightforward.
Why Choose Wyoming for Your LLC?
Before diving into the steps of forming an LLC in Wyoming, it’s important to understand why Wyoming is considered one of the best states for business formation. There are several key reasons:
- No State Income Tax: Wyoming is one of the few states that do not impose an income tax on businesses or individuals. This makes it incredibly attractive for business owners who want to keep more of their profits.
- Low Fees: Wyoming offers one of the lowest LLC formation fees in the country. Additionally, the state’s annual fees are reasonable, with an annual report fee based on the value of assets your LLC holds within the state.
- Privacy Protection: Wyoming offers strong privacy protections for LLC members. It allows the formation of anonymous LLCs, which means that the names of members do not appear in the public records. This is especially appealing to entrepreneurs who want to keep their personal information private.
- Business-Friendly Environment: Wyoming is known for its pro-business regulations. The state has streamlined the LLC formation process, making it easier for entrepreneurs to get their business up and running quickly.
In this guide, we’ll take you through each step of the process to form an LLC in Wyoming.
Costs to File an LLC in Wyoming
| Service | Cost (in USD) |
|---|---|
| Articles of Organization | $100 |
| Registered Agent | $50 – $150/year |
| Operating Agreement | $0 – $100 |
| Annual Report Fee | $60 |
| EIN (Employer Identification Number) | Free (if done through IRS) |
Step-by-Step Process to Form an LLC in Wyoming
Forming an LLC (Limited Liability Company) in Wyoming is an efficient and straightforward process. It allows business owners to enjoy various benefits, including asset protection, tax advantages, and limited liability. Wyoming’s favorable business climate, with no state income tax and strong privacy protections, makes it an ideal state for LLC formation. Here’s a detailed step-by-step guide to help you form your LLC in Wyoming.
1. Search Your LLC Name
The first step to starting your LLC is choosing a name for your business. Your LLC name must be unique and distinguishable from other business names already registered in Wyoming.
To make sure your desired name is available, you should search the Wyoming Secretary of State’s business name database. This can be done online. The name you choose must adhere to the following guidelines:
- It must contain the words “Limited Liability Company” or the abbreviation “LLC” or “L.L.C.”
- It cannot be misleading or confusingly similar to the name of an existing business.
- Certain words (such as “bank,” “insurance,” or “trust”) may require additional documentation or approval.
If your business name is available, you can proceed to register it. If you want to ensure that no one else can use the name for up to 120 days, you can reserve your name by filing a name reservation form with the Wyoming Secretary of State’s office for a small fee.
2. Choose a Registered Agent
A Registered Agent is a person or business entity that acts as the official point of contact for your LLC. They are responsible for receiving legal documents, such as tax notices and legal summons, on behalf of your LLC.
In Wyoming, your LLC must have a Registered Agent with a physical address in the state. This means that the Registered Agent must be available to accept legal documents during normal business hours. You can appoint yourself as the Registered Agent if you have a physical address in Wyoming, or you can hire a professional Registered Agent service to handle this for you.
Some business owners prefer hiring a Registered Agent service because it ensures that they never miss important legal documents and that they maintain privacy. Some popular Registered Agent services include:
- Northwest Registered Agent
- Harbor Compliance
- ZenBusiness
3. File Articles of Organization
Once you’ve selected your LLC name and Registered Agent, the next step is to officially form your LLC by filing the Articles of Organization with the Wyoming Secretary of State. The Articles of Organization is the primary document used to create an LLC in Wyoming.
To file the Articles of Organization, you will need to provide the following information:
- LLC Name
- The name and address of your Registered Agent
- The address of your LLC’s principal office
- Whether your LLC will be managed by members or managers (this designates whether the owners of the LLC or someone else will manage the LLC)
- The signature of the person filing the Articles of Organization
You can file your Articles of Organization online or by mail. The filing fee is $100. The online filing process is typically quicker, and you can expect your LLC to be approved within one business day.
Once your Articles of Organization are approved, your LLC is officially formed.
4. Create an Operating Agreement
Although an Operating Agreement is not required by law in Wyoming, it’s a crucial document for any LLC. The Operating Agreement outlines the internal workings of the LLC, such as the rights and responsibilities of its members, how decisions will be made, and how profits and losses will be distributed.
If your LLC has multiple members, the Operating Agreement becomes even more important. It ensures that all members are on the same page regarding the management of the business and helps prevent misunderstandings in the future.
An Operating Agreement should include:
- Ownership percentages of each member
- Voting rights and how decisions will be made
- How profits and losses will be divided
- What happens if a member wants to leave the LLC
- Procedures for adding or removing members
Even though the state of Wyoming does not require you to file the Operating Agreement with the Secretary of State, it’s still an important document to have on hand in case of disputes or legal issues.
5. Obtain an EIN (Employer Identification Number)
An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is required for tax purposes, opening a business bank account, and hiring employees. You can obtain an EIN from the IRS for free.
You can apply for an EIN online through the IRS website, and the process is quick and easy. Once you’ve completed the online application, you’ll receive your EIN immediately. You can also apply for an EIN by mail or fax, though the process will take longer.
6. File Your Annual Report and Pay the Annual Fees
After your LLC is approved, you will need to file an annual report with the Wyoming Secretary of State and pay an annual fee. The report is due on the first day of the anniversary month of your LLC’s formation. For example, if you formed your LLC on July 15, your annual report will be due every year on July 1.
The fee for filing the annual report is based on the value of the assets your LLC holds in Wyoming. The minimum fee is $60, and the maximum fee is $500. The annual report is typically filed online through the Wyoming Secretary of State’s website.
7. Stay Compliant with State Requirements
Once your LLC is formed, it’s important to stay compliant with state requirements to maintain your LLC’s good standing. This includes:
- Filing your annual report and paying the associated fees on time.
- Maintaining a Registered Agent at all times.
- Ensuring that your LLC’s information is kept up-to-date with the Wyoming Secretary of State.
Failure to comply with state requirements could result in your LLC losing its good standing or even being administratively dissolved. Therefore, staying on top of annual filings and maintaining accurate records is essential to keep your LLC in good standing.
What to Do After Your LLC is Approved
Once your LLC has been officially approved by the Wyoming Secretary of State, your journey is just beginning. There are several key tasks and ongoing responsibilities you’ll need to address to ensure your business remains compliant with state laws and continues to operate smoothly. Here’s a guide on what to do after your LLC is approved.
1. Obtain an Employer Identification Number (EIN)
One of the first things you’ll need to do after your LLC is approved is to obtain an Employer Identification Number (EIN) from the IRS. An EIN, also called a Federal Tax Identification Number, is essential for various purposes, including:
- Opening a business bank account
- Hiring employees
- Filing taxes
- Applying for business licenses and pe
How Much Does a Wyoming Annual Report Cost?
As mentioned earlier, Wyoming’s annual report fee is based on the value of the assets your LLC holds in the state. The minimum fee is $60, and the maximum fee is $500. The amount you owe is determined by the assets employed or located in Wyoming. If your LLC holds significant assets, your annual fee may be higher.
When is the Annual Report Due?
The annual report is due on the first day of the anniversary month of your LLC’s formation. For example, if your LLC was formed on July 15, your annual report would be due on July 1 each subsequent year.
It’s important to note that if you fail to file the annual report on time, the Wyoming Secretary of State may administratively dissolve your LLC. To avoid this, make sure to file your report and pay the fee by the deadline each year.
How Will My LLC Be Taxed?
Wyoming does not impose a state income tax on LLCs or individuals. This is one of the main reasons many business owners choose Wyoming as their LLC formation state.
However, your LLC may still be subject to federal taxes. By default, LLCs are taxed as pass-through entities, meaning that the LLC itself does not pay federal income tax. Instead, profits and losses “pass through” to the members of the LLC, who report them on their personal tax returns.
If you choose, you can elect for your LLC to be taxed as an S-Corporation or C-Corporation, but this requires filing additional forms with the IRS.
Wyoming Secretary of State Contact Information
If you need assistance or have questions about forming an LLC in Wyoming, you can contact the Wyoming Secretary of State’s office:
- Phone: (307) 777-7311
- Email: business@wyo.gov
- Website: https://sos.wyo.gov/
Conclusion
Starting an LLC in Wyoming is a smart choice for many entrepreneurs due to its business-friendly environment, low fees, and no state income tax. By following the steps outlined in this guide, you can quickly and easily form your LLC and start operating your business with confidence.
Whether you’re just starting out or looking to expand, Wyoming offers a strong foundation for your LLC, allowing you to focus on what really matters—growing your business.
FAQs
Can I Be My Own Registered Agent in Wyoming?
Yes, you can serve as your own Registered Agent if you have a physical address in Wyoming and are available to receive legal documents during normal business hours. However, many business owners prefer to hire a professional Registered Agent service to maintain privacy and ensure they never miss important legal notices.
Is an Operating Agreement Required in Wyoming?
No, Wyoming does not require LLCs to have an Operating Agreement. However, it is highly recommended to create one to outline the rules and regulations governing your LLC. It helps prevent future conflicts among members and ensures smooth operations.
How Long Does It Take to Form an LLC in Wyoming?
If you file your LLC formation documents online, the processing time is typically just one business day. If you file by mail, it may take 10 to 15 business days for your LLC to be approved. You can check the status of your filing on the Wyoming Secretary of State’s website.
