How To Form an LLC In Wyoming
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1. Choose a Name for Your Wyoming Limited Liability Company
Check for an Available Name for the LLC in Wyoming: You must choose an available name for your LLC before you form an LLC in Wyoming. When preparing your Articles of Organization, search of online databases and other records to check that the name that you want to use is not already in use by another LLC. A database of Wyoming business entities is available to search on the official website of the Secretary of State at Wyoming LLC.
Reserve a Name for Your Wyoming LLC: You do not have to reserve a name before you file Articles of Organization to form your LLC. However, you might want to consider reserving a name if you do not plan to form your LLC right away. You can download the application at Wyoming LLC. The name that you submit will remain reserved for 120 days. You must pay the $50.00 filing fee.
Filing for Trademarks Protection and Doing an LLC Name Search: You may discover that the name that you want to use for your LLC is available in Wyoming but in use by an LLC in another state. Consult an attorney to be informed of the possible restrictions on your use of the LLC name that you have chosen. More information about how to choose a name for your LLC can be found at how to choose a name for your llc___.
Wyoming LLC Name Requirements: The name of an LLC in Wyoming must include the designation "Limited Liability Company” or an accepted abbreviation such as “LLC.” Keep in mind that the “C” in “LLC” stands for “Company,” NOT “Corporation.” LLCs should never be confused with corporations, since LLCs and corporations are two distinct types of business entities that are set up and managed differently.
2. Find a Registered Agent in Wyoming
You must choose a registered agent to act as agent for service of process for your Wyoming LLC. The registered agent that you choose will receive your LLC’s tax forms, official documents, and legal notices. There are corporate services companies that offer registered agent services to LLCs and corporations for a fee that is generally around $75.00 to $150.00.
3. File Articles of Organization with the Wyoming Secretary of State
Minimum Requirements for the Articles of Organization: The Articles of Organization that you file for your Wyoming LLC must include the name and mailing address of your LLC, the name and physical address of your registered agent, your principal office address, and the name and signature of the organizer. You can download the form at Wyoming LLC.
Other Wyoming Legal Provisions: Think about including some additional provisions in your Articles of Organization. Ask a lawyer for assistance in preparing your Articles of Organization so that you can be sure to include the additional provisions that are the most important for your company.
Where to Submit the Articles of Organization for Filing: Send your signed Articles of Organization to the Wyoming Secretary of State, State Capitol Building, Room 110, 200 West 24th Street, Cheyenne, WY 82002-0020.
Filing Fee: The filing fee for Articles of Organization in Wyoming is $100.00.
4. Form a Wyoming Limited Liability Company Agreement (Operating Agreement)
You should create an LLC Agreement to lay out the procedures for the day-to-day operations of your LLC and the actions of the members of the LLC. You can create an LLC Agreement that is specific to the needs of your company and that reflects the specific purpose of your LLC, whether your LLC was formed to operate a manufacturing business, an Internet start-up, a software development company, a restaurant, or some other kind of business. There are many factors that you can consider addressing. Will the owners be the principal investors of the initial capital or will you be seeking outside investors? Will the LLC be managed by a manager or by the members of the LLC? What powers will the executives have? What rules will govern the transfer of interests and the distribution of money among the members? What will happen if you decide to incorporate or dissolve the LLC one day? These are just some of the factors that you can address in your LLC Agreement. LLC Agreements can be very complex. Consult a lawyer and an accountant so that you can feel confident that your LLC Agreement complies with all state requirements and federal tax laws.
You must also find out how you can make securities filings for your LLC, obtain an EIN from the IRS, and obtain a business license. There are corporate services companies that provide forms and can help LLCs to make these important filings. More information about applying for a business license in your city can be found at http://www.cityapplications.com/business-licenses.html.
5. Qualify Your Wyoming LLC to Do Business in Other States
In most states, you will find that some kind of registration or qualification is required for you to do business there. For example, if the main office of the company is located outside of your home state, you must qualify your LLC before you can do business there. Keep in mind that you must pay taxes in your home state when you do business in other states. More information about qualifying your LLC to do business in other states can be found at [Qualifying to Do Business in Other States].
6. Make Annual Filings and Pay Annual Taxes in Wyoming
In Wyoming, you will need to file an annual report for your LLC. You can download the form for this report at Wyoming LLC. You can also file online. You will be required to pay an annual report license tax. Each year you must file a tax report and pay state taxes for your LLC. More information about the taxes that will apply to your LLC can be found at Wyoming LLC.
You must make many decisions during the process of forming an LLC in Wyoming. Consult an accountant and an attorney during this process so that you can feel confident that forming an LLC is the right choice for you and that all your paperwork is being processed correctly.This article is for informational purposes and does not constitute legal, financial or tax advice. This information is derived from various sources and should not be relied on as an official source of information. All information should be independently verified. You should consult a legal or accounting professional before incorporating your business.
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This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.