We’ve compiled the most common fees so you know exactly what to expect when starting your Wyoming LLC.
Starting your LLC formation means first taking note of what you need to pay for.
Here’s what you can expect when paying for your Wyoming LLC along with some additional fees.
It costs $102 to file for an LLC in Wyoming.
In Wyoming, you’ll have to pay an annual report license tax for $60 or $0.0002 on every dollar of assets, whichever is greater. The annual report is due on the first day of the LLC’s anniversary month. For example, if you started your LLC on July 13, the annual report will be due on July 1 each year after.
When submitting your LLC registration, you’ll be asked to provide a registered agent. In Wyoming you must have a registered agent.
As you set up your LLC, you’ll inevitably need to deal with some additional fees. Here’s what you can expect.
Although not required, you should consider getting a Certificate of Good Standing for your LLC. You can request one through the Secretary of State. The filing fees vary: online is free and by mail is $10. A Wyoming CGS can make it easier to:
These are just a few benefits, so consider getting a CGS to make running your LLC easier.
You should also consider getting a “doing business as” (DBA) name for your Wyoming LLC. This can prove to be helpful if you plan to do business under a name different from your legal one.
In Wyoming, a DBA is called a “trade name” and you can get one through the Secretary of State for $100.
If you own an out-of-state LLC but wish to do business in Wyoming, then you’ll have to register as a foreign LLC. This carries a fee of $100 and is done through the Secretary of State.
You’ll have to apply for certain licenses and permits in order to properly do business in Wyoming. Which licenses and permits you’ll need depends on where you’re located in the state and which industry you’re in. Make sure to research which you’ll need.
An annual report is the main thing to keep in mind when figuring out what you’ll need to submit on an annual basis for your LLC. Wyoming does not charge a late fee for annual reports, however, if the report is filed over 60 days late, the LLC can be dissolved by the Secretary of State.
If you aren’t able to pay for any filing fees, then your LLC application will not be accepted.
All fees for your Wyoming LLC are handled by and paid to the Secretary of State.
Determining what your biggest fee will be when forming your LLC depends on many factors. For the most part, the biggest fee will be $100 for filing.
Wyoming does its best to simplify the payment methods for business formation. They include check or money order, credit card (VISA or MasterCard), and debit card (VISA or MasterCard).
Starting an LLC has many benefits compared to other business types. Liability protection is a popular one, meaning that the business owner’s assets are protected if the LLC faces a legal issue like a lawsuit.
Two others include a relatively easy startup process and tax flexibilities. If an LLC sounds like a business model you’d like to start, then read on.
As we mentioned earlier, starting an LLC can be a rather easy process. Here’s a list of a few things you’ll need to do.
Naming your LLC can be a fun process since it allows you to get creative. Keep in mind that Wyoming has a few naming rules for businesses. If you don’t follow these rules, your name will be rejected and you’ll have to go back to the drawing board.
The Wyoming Secretary of State has a PDF dedicated to helping you come up with a great business name. Additional things to keep in mind include:
Create a list, jot your business name ideas down, and go one-by-one to see which are available and which work best for you.
Once you have your list, you should run each name through our business name checker to see which are available. While you’re setting up your LLC, you can reserve your name with us.
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Wyoming requires all LLCs to have a registered agent that must be chosen during the business’s set-up process.
A registered agent is a person or entity that serves as your business’s point of contact and accepts legal documents on your behalf. In Wyoming, an individual serving as a registered agent must be over 18 years of age and have an official physical address. The agent can also be another business. Learn more about registered agents in Wyoming.
Like in most states, you can be your own registered agent in Wyoming if you’d like, but consider having someone else hold this responsibility. After all, if your business is dealt a lawsuit, papers will be served at your location, which may not look good in front of customers.
As we mentioned before, Wyoming requires LLCs to have a registered agent, so look around and decide who you’d like to serve in this position. Keep in mind that registered agents must be paid for, and prices will vary, so be sure to fit this cost into your business budget.
As in other states, you’ll first have to file your Articles of Organization before being able to do business as an LLC in Wyoming. You’ll file this document with the Wyoming Secretary of State for a fee of $100. If you need to amend these articles later on, there’ll be a charge of $60.
In Wyoming, LLCs aren’t required to have an operating agreement, but it’s best to draft one anyway since they can make running your business easier.
An operating agreement has plenty of benefits that include::
Although there are more benefits to drafting this document, these are the most common.
You should also consider getting an Employer Identification Number (EIN) for your Wyoming LLC. This acts as an identifier for your business the same way a social security number does for a person. Like an operating agreement, an EIN has benefits like making it easier to secure a business bank account and streamlining the tax process.
Use our EIN service to get yours today. You can also get one directly from the IRS as well.
Running a business in Wyoming means having to take care of some annual responsibilities.
Wyoming does not impose corporate income taxes. However, the state does have an “annual license tax,” known as a franchise tax. This tax applies to the business’s assets.
Although Wyoming charges no fee for a late annual report submission, your LLC could be at risk of dissolution if the report isn’t filed within 60 days after it’s due. Our Annual Report Service will make sure that this doesn’t happen.
Staying compliant means keeping your business in good standing with the state. Stay on top of your annual fees and taxes – and don’t forget to file your annual report on time each year! Our Worry-Free Compliance Service ensures that your business is in the right spot.
Running a business isn’t easy, and keeping track of everything to ensure your Wyoming LLC is compliant can be hard. That’s why we offer a variety of business formation services along with guidance to ensure that you’re running your LLC correctly. Let’s get started today!
Disclaimer: The content on this page is for information purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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