How to Start an LLC in Wyoming

You can form an LLC in Wyoming on your own, but for the smoothest experience, it’s well worth using a professional service. There are many companies that can help walk you through the entire process, ensuring that each step is done accurately and efficiently.

Companies like ZenBusiness and Bizee provide an affordable way to start a new business in Wyoming. They essentially serve as a middleman between you and the Wyoming government, helping guide you through the registration process. These companies can also serve as your Registered Agent, which is a requirement for WY LLCs.

If you choose to go this route, you will need to pay a bit extra, on top of Wyoming’s state fees. However, a professional LLC service can save you a lot of time and headache, so for many business owners, the extra cost is well worth it.

Recommended services

Visit ZenBusiness

The focus of ZenBusiness is on forming new companies. They help simplify the process of starting a business, using powerful online tools. ZenBusiness plans are ongoing and help customers grow their businesses. They provide many services and resources, and can also help connect entrepreneurs to other relevant services.

See the full ZenBusiness review here

Visit Northwest

Northwest Registered Agent will scan all documents you receive for your business so that you can easily see them in your online account. There, you’ll have unlimited cloud storage as well as strong business data protection, and help from their friendly customer service staff when you need it. A yearly subscription for their registered agent services costs $125.

See the full Northwest review here

Visit Bizee

Bizee specializes in new company formation. With Bizee, you can form a new LLC, corporation, or other business entity in your state. So far, they have helped form more than 500,000 new businesses. Bizee works directly with each US state to help start new businesses. Essentially, they are a middleman between you and your state’s business department.

See the full Bizee review here

You will need to name your LLC in order to register it, and Wyoming has some specific rules that must be followed:

To confirm that a name is available, you can use the business entity search feature on the Wyoming Secretary of State’s website. This tool lets you conduct a name search in a database of every business that is registered in the state of Wyoming, to ensure that your name is not too similar to existing firms.

Wyoming requires that every LLC elect what is called a Registered Agent. A Wyoming registered agent must be an individual or company that resides in Wyoming. The purpose of a registered agent is to receive official documents from the state, and receive official legal documents for the business.

You can serve as your own registered agent, if you meet certain requirements. You can also appoint an employee. Or, you can use a professional service, which may cost around $100 per year. We typically recommend using a professional registered agent service, as it saves hassle – and also protects your private information. Plus, a service will ensure that you never miss an important piece of mail, and many offer other bundled services to help keep your business compliant.

If you opt to be your own registered agent, you’ll need to be a resident of Wyoming. You will need to provide a physical address to receive mail – either your home address or business office address (PO boxes are not allowed). This address will become public record, so keep your privacy in mind when making this selection.

Wyoming is a business-friendly state, as evidenced by their option to form a “close LLC” in the state. All limited liability companies help shield owners’ personal assets from liability related to their business, but the close LLC goes a step further.

A close LLC is mostly designed for family businesses, that want a tightly-controlled ownership structure. This business structure restricts asset transfers and makes it easier to pass a business from one generation to the next. The full legal text of the Close LLC supplement can be found here.

Most businesses do not opt for the Close LLC designation, but it can be a good option for small family businesses.

Wyoming’s rules do not require an LLC operating agreement, but most businesses should still draft one up. An operating agreement is a detailed legal document that lays out the ownership and operating procedures of a new business. It is a formal legal document, and it may be required for certain business activities.

Operating agreements are particularly important for multi-member LLCs. The agreement lays out the ownership structure of the new firm in detail and is legally binding. Without one, future legal conflicts are much more likely.

Operating agreements are internal documents, which means that they are not submitted to any government agency. Instead, they are simply kept on file by the business entity.

For single-member LLCs, an operating agreement may not be necessary, as Wyoming doesn’t require one (many states do, however). You can use the services of an attorney to draft an operating agreement or a service like ZenBusiness. Alternatively, you can look online for templates to draft one yourself.

You will need to fill out the Wyoming LLC Articles of Organization with all the relevant information. There are two ways to do this:

On this form, you will need to select whether or not you want to form a “close LLC” or a standard Wyoming LLC. For most companies, the standard LLC will suffice.

Either way you file, you will need to pay $100 for Wyoming’s state fees. This covers the cost to process your application and is a mandatory fee. If you’re mailing in an application, you can simply include a check with your documents (instructions are found in the application document). If you’re filing online, there are various online payment options available – there is a $2 processing fee for online payments, bringing the total Wyoming LLC formation cost to $102 if filing online.

If you use an LLC filing service, like ZenBusiness, you’ll still pay Wyoming’s state fee, plus ZenBusiness’ small fees, as well. The only difference is that ZenBusiness will actually process the payment for you, and forward the money to the WY Secretary of State.

Once you have submitted your application, you’ll simply need to wait for the WY Secretary of State to process your paperwork. Applications are generally processed in 6-10 business days, although it may take longer during peak times. Expedited filing speed may be available in some cases.

Assuming there are no issues with your paperwork, your application should be approved and documents mailed out within a few weeks. You will receive physical copies of key documents, mailed to your business address.

So there you have it: How to form a Wyoming limited liability company quickly and easily! Wyoming has a relatively simple process, as well as a cheap application fee, compared to many other states. Even so, some businesses may prefer to use a professional service for forming an LLC, to help navigate the state laws and file all necessary formation documents.

Finally, most businesses should apply for a Federal Employee Identification Number, or EIN. This is a business tax ID number that is required for many business activities, including hiring employees and opening business bank accounts.

Because this is a federal tax ID, the application is actually handled by the IRS, rather than Wyoming’s government.

You can file for an EIN online at the Internal Revenue Service’s website. The process is free, and applications are handled quickly. If approved, you will receive an EIN letter with your new tax ID. If you want help with the application process, LLC formation services like ZenBusiness and Bizee offer optional services for EIN applications.

Once you have received an EIN, you should use it whenever you are asked for a tax ID number for your business. For instance, when filing federal corporate income taxes, or state income taxes, when paying your employees, or filling out tax forms for clients.

Having finished the initial paperwork to get your business started, you may think that you are done – but this is far from the case! It’s extremely important to keep up with all ongoing filing requirements, on both the state and federal levels. Here are a few of the filings to keep in mind:

Keeping your firm in good standing means staying on top of tax returns and state filings, updating your mailing address if necessary, and operating your business under all relevant state and federal regulations. Wyoming’s Secretary of State website does a good job of explaining the various requirements, but you may also need to do some digging on your own.

You will want to completely separate business and personal finances, and the best way to do this is to get a separate business bank account. You can use a bank that you already have a relationship with, or shop around to find the best business bank account possible.

To open a business checking account for an LLC, you’ll need an EIN (see above). Once you have this number, you’ll simply need to choose a financial institution and present both your EIN and business license to the banker.