With a Wyoming Certificate of Good Standing (CGS), you can prove your entity’s legality, existence, and active status in the state. This legal document isn’t mandatory, but it’s a great tool to prove your standing with the Secretary of State (SOS), which could be required in some situations. It also confirms that you’re updated on your annual returns and filings.
What is a Wyoming Certificate of Good Standing?
When you operate a business entity, you may need to certify your existence and history to your lenders, bank, customers, and other parties. A CGS serves all these purposes. It also verifies that your entity is registered with the state and complies with state law.
Which Wyoming office issues Certificates of Good Standing?
The Wyoming Secretary of State’s office provides the CGS free of cost through its official portal. You can generate or validate your certificate from the business section of the SOS website.
With a simple online process, you can obtain the certificate by providing your business filing ID. This is the identification number assigned to every business entity by the SOS. If you already have a certificate and want to validate it, fill in the certificate ID in the required field to complete the process. There’s also a manual filing process where you have to pay a fee to obtain your Wyoming CGS.
If you can’t figure out this process or simply need help to maintain compliance with state requirements, sign up for the ZenBusiness worry free compliance service.
What does the Certificate of Good Standing confirm?
The Wyoming Certificate of Good Standing is a legally recognized document with the state seal to confirm your business’s legal existence. It will give you proof of status and confirm your adherence to tax filings and annual reports. After completing your incorporation process, apply for the Wyoming CGS.
Any business corporation, limited liability partnership (LLP), or limited liability company (LLC) in Wyoming can apply for this certificate. Just make sure you have no delayed or outstanding liabilities. The certificate carries the following information about your entity:
- The name of the entity
- Type of entity (LLC, LLP, corporation, etc.)
- Formation date
- A declaration about the period of duration since the formation
- Company ID or the entity identification number issued by the Secretary of the State
- An acknowledgment that the entity has legal existence and is in good standing with the state
- A declaration that the business has filed its annual reports and paid all taxes as required by the state
- A statement that the company has not yet filed its Articles of Dissolution
Why might a business need a Wyoming Certificate of Good Standing?
You may not need a Wyoming CGS for company formation in the state. It helps if you have this certificate when applying for a loan or expanding your business beyond the state boundaries. Here are some reasons to get this certificate, even if it doesn’t seem necessary.
Registering to Do Business in Another State
When you expand your business to other states or another country, you’ll be asked to prove your compliance and legality in your state of formation. That’s where a Wyoming Certificate of Good Standing becomes essential. You can use this certificate in another state when registering your business as a foreign (out-of-state) business.
If you need financing to grow your business, you’ll approach a lender for the line of credit. However, the lenders may ask you to submit a CGS before processing your application.
Opening a Business Bank Account
A separate business bank account is important for limited liability protection in Wyoming. But, the banks may ask for a Wyoming CGS to prove your legal existence, history, and clear records with the state office.
Buying Business Insurance
For the smooth functioning of your entity, you may need several types of insurance policies in Wyoming. Business liability insurance can protect against property damage and personal injury claims. Similarly, you may need workers’ compensation insurance to protect against any worker-related injuries or accidents. For buying any of these coverage options, you may need a Certificate of Good Standing that proves your credibility and legality to the insurer.
Contract Formation with the State/Other Businesses
Before drafting a business contract with a state office or other businesses, you may need a CGS. This certificate proves your legal existence and is a standard part of many contracts to supply.
Selling/Transferring Part or All of the Business
When you want to sell your business as a whole or in part, you’ll likely need a Wyoming CGS for streamlining the process.
Renewing Certain Permits and Licenses
When you want to obtain a new license or renew any existing permit for your business in Wyoming, a CGS may be required by the issuing agency.
What Wyoming entities can obtain a CGS?
Any entity registered in the state as a corporation, LLP, or LLC can apply for a Certificate of Good Standing with a simple online or manual process. The certificate is available for the following:
Corporations and LLCs
- WS 17-16-101 through 1804
- 17-25-101 through 1105
- WS 17-14-101 through 1104
So, if your entity is formed under any of these statutes, you can apply for a Wyoming CGS.
Other business entities that require registration in the state
- Close corporations
- Statutory trusts
Entities that don’t need to be registered
A Wyoming CGS is available only to the entities legally registered by the SOS. If you run a sole proprietorship, you don’t have any entity filing needs or requirements to register your business. You may register a trade name to operate in the state. For such businesses, a CGS cannot be issued by the state agency.
How to Get a Wyoming Certificate of Good Standing
A quick and straightforward online process is all it takes to apply for CGS in Wyoming. The steps in this process include:
Check to make sure your business is in compliance
When applying for a CGS, it’s essential to ensure that you have no pending annual reports or unpaid taxes. Whatever licenses or permits you need, get them generated or renewed before filing your CGS request with the SOS.
You may not have time to complete the process sometimes. That’s when you can rely on ZenBusiness for worry free compliance checks and other solutions.
Go to Wyoming’s business website to request a Certificate of Good Standing
Any application for the certificate can be filed online if you have a valid business entity ID in the state. Visit the official business portal of the Wyoming Secretary of the State to generate or validate your CGS.
The certificate is free for online applicants, while you may have to attach a fee for manual processing. Submit your form online or print its copy and mail it to:
Wyoming Secretary of State
122 W. 25th St.
Cheyenne, WY 82002-0020
Make sure your Certificate of Good Standing will be valid for its intended use
The CGS in Wyoming has no valid expiration date on it. However, the validity is usually determined by the intended use of the certificate. Generally, the information is considered valid for 60 to 90 days for verification purposes. It will depend on your intended use. Some parties may require that you have a certificate that’s no more than 30 days old.
Send to requesting party
After downloading the certificate, you can send it to the party or business requesting it.
Compliance may not be simple to keep up with, especially when considering all the other aspects that make a business go round. At ZenBusiness, we understand that your business needs don’t stop after the business has been registered. ZenBusiness can help keep you in good standing with our worry free compliance service. With this service, we not only help keep your business in compliance, but we can also secure a Wyoming CGS for you if you need one; you just pay the state fees. And, if you don’t have the worry-free compliance but still need a CGS, our Certificate of Good Standing service can help.
Wyoming Certificate of Good Standing FAQs
- How much does a Wyoming CGS cost?
There’s no application fee for the online processing of CGS requests in Wyoming. However, if you file it manually or in person, you may have to pay a fee.
- How long will it take to get my Wyoming Certificate of Good Standing?
The routine processing of a CGS will take two to three hours for online requests. However, you may have to wait for five to seven days for the manual process.
- Can I expedite a Wyoming CGS request?
You cannot expedite your paper filings in Wyoming for any request, including a CGS.
- Is a CGS required to stay compliant in Wyoming?
No. A CGS isn’t required to stay compliant in Wyoming.
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