Start a Wyoming LLC

Step 1: Name your Wyoming LLC

To start a Wyoming LLC, begin by naming your business. Coming up with a distinct name helps your LLC stand out from other companies. This is also an opportunity for you to hone your branding tone and reflect on your mission and vision.

But before you create merchandise with your company name on it, let’s go over some crucial rules about LLC names.

Name Requirements for a Wyoming LLC

The state of Wyoming has a few basic rules for naming your LLC:

• The name needs to be different and distinguishable from other businesses in the state (even if they aren’t an LLC).
• The business name can’t state or imply that it can do something it’s not authorized to do.
• The name must end with a designator that signifies the business is an LLC. Appropriate limited liability company designators include:
  • limited liability company
  • LLC
  • L.L.C.
  • limited company
  • LC
  • L.C.
  • Ltd. liability company
  • Ltd. liability co.
  • Limited liability co.
  • In most cases, you can vary the capitalization of the words, but Wyoming law requires that your business name contain one of these designators.
• The name can’t suggest that it is formed for a purpose different from what you put in your Articles of Organization.
• The company name can’t contain the word or abbreviation for a different entity type (e.g., “Candle Corp., LLC” won’t work).

Want to take a deeper dive into how to name your LLC? Let us help you search Wyoming records to see if your desired name is being used by another business entity in the state. You can also check the Wyoming Secretary of State’s database to search for business names that are already in use. 

Domain Names

While not a legal requirement, you might want to make sure that your chosen business name is available as a domain name before you take the next step. After all, being available online is a big part of running a successful business. Plus, it’ll be easier for people to remember and interact with your business if the website and company names match. We can help you take care of this with our domain name search and domain name registration service. We can even help you set up your website.

Trademarks

Even if the name you want to use appears to be available after you’ve searched the Secretary of State’s database, there’s no guarantee that someone hasn’t already trademarked it at the state or federal level. While there’s no central place to check for all trademarks (some businesses even consult with trademark-specialized lawyers), you can take some measures yourself.

For instance, you can search for state-level trademarks through the Wyoming Secretary of State. To check for federal trademarks, search the United States Patent and Trademark Office (USPTO) database. 

In addition to checking state and federal databases, it’s a good idea to conduct extensive internet searches for your desired business name, such as checking domain names, social media sites, and even phone directories.

If you want to trademark a name yourself, you can also apply for your own state trademark via the Wyoming Secretary of State.

Reserve a business name for a Wyoming LLC

Let’s say you already have the perfect business name, but you need more time to get ready to form an LLC in Wyoming. No problem. Wyoming allows you to reserve an available business name for up to 120 days.

Registering a Trade Name for Your Wyoming LLC

Want to conduct business under a different moniker than your official company name? Sometimes, businesses can benefit from having an extra name. Most states call this alternative moniker a “doing business as” (DBA) name or “fictitious name,” but Wyoming simply refers to them as “trade names.”

Examples of when a trade name would be used include:

• A business with the official name “ABC Toys, LLC” wants to sell online as “ABC Toys”
• A business with the official name “XYZ Computers, LLC” wants to sell MacBooks as “XYZ Macs”

If obtaining a trade name sounds right for your situation, you’ll need to file a Trade Name Registration form with the Wyoming Secretary of State. Learn more about this process with our step-by-step guide on how to get a DBA name for your business in Wyoming.

Step 2: Appoint a registered agent for your Wyoming LLC

Appoint a registered agent for your Wyoming LLC. Every LLC in Wyoming is required to have a registered agent (RA). Also called an agent for service of process in some other states, this agent is an individual or business entity that receives official paperwork and important legal notices on behalf of the company.

Who can serve as a registered agent?

In Wyoming, there are rules about who can act as a registered agent. In order to serve as a registered agent for a Wyoming LLC, an individual or business entity must: 

• Have a physical street address in Wyoming (must be a physical address; P.O. boxes will not suffice)
• Sign a form called Consent to Appointment by Registered Agent
  • This form must be signed by the registered agent and accompany new entity filings. If filing online, the filer will be asked to certify that they have received a similar written consent and must keep it for future reference. 

If an individual serves as your registered agent, they must be at least 18 years of age, reside in Wyoming, and have a physical address in the state. 

Benefits of Hiring a Wyoming Registered Agent Service

Legally, a business owner can serve as their own registered agent. However, there are several downsides to serving as your own agent or having a friend or family member do so.

For starters, if your company is sued, being served with the lawsuit notice in front of customers could be embarrassing or even damaging to your business. Furthermore, if your business moves, you’ll need to remember to update your registered agent address on file with the state.

Finally, registered agents need to be available during all regular office hours to receive documents and legal notices. This can be inconvenient when you’re trying to run a business and live your life. 

These reasons and more are why many business owners opt to use professional registered agent services, instead. With a professional service, you can: 

• Avoid the embarrassment of being served legal notices in front of others
• Rest assured all notices will be received and passed along in an appropriate manner
• Have peace of mind knowing your RA information remains up-to-date with the state of Wyoming

Our Wyoming registered agent service matches you with a professional service provider. Shop confidently, knowing that we curated a list of qualified professionals that may be right for you.

What if a process server can’t find my Wyoming registered agent?

If a process server can’t find your registered agent, it could result in you not receiving important legal notices, such as a notification that your business is being sued. This would mean that you could fail to show up to court or address pressing legal matters.  

Worse still, your business being unreachable could cause you to fall out of compliance with the state. Being out of compliance could lead to everything from costly fines to the forced dissolution of your business. 

Want to save yourself the embarrassment and possible hassle (or even worse)? Have a reliable, professional, and discreet registered agent.

Step 3: File Wyoming Articles of Organization

File Articles of Organization to legally form your Wyoming limited liability company. Your LLC Articles of Organization are the formation documents that officially create your business. So, if you want the personal liability protection you get from an LLC, you’ll need to make sure you fill them out carefully and completely. 

File with the Wyoming Secretary of State

You’ll file your Articles of Organization with the Wyoming Secretary of State. Before filing these formation documents, make sure you have all of the necessary information. 

What should I include in my Articles of Organization? 

The Articles of Organization are like your business’s birth certificate. When the government accepts them, the Articles prove that your business exists and provides basic information about the company. Here’s what the Secretary of State requires you to put in your Articles of Organization when you create an LLC in Wyoming:

• The name of the Wyoming LLC (which needs to meet the naming rules we talked about before)
• The registered agent and registered office address
  • In Wyoming, you also need to include an attached registered agent consent form signed by the registered agent accepting the appointment to serve in that role. 
• The business address of the LLC
• The mailing address of the LLC
• An email address to receive electronic service of official documents
• Whether the LLC is a “close LLC.” A close LLC is a more restrictive kind of LLC with more restrictions on membership and transferring ownership. It’s often used for family businesses and estate planning.
• LLC organizer signature(s) 

How fast can I form my Wyoming LLC?

According to the Secretary of State, the processing time for Wyoming LLC Articles of Organization is 15 business days (starting from when the state receives your completed formation document and filing fees). 

Help ensure that you accurately and quickly file your Articles of Organization with our business formation service. Answer a few questions about your business, and we’ll provide you with a selection of offerings suitable for your needs and situation. Choose your service(s), and your dream business will be born in no time.

Wyoming LLC Cost

Wyoming charges a $100 filing fee for your Articles of Organization, but there may be add-ons and other costs that bump this amount up (such as a $2 convenience fee for filing online, and fees for licenses or permits in your industry). You can opt for the online filing option, or file your documents by mail. Find out how much it may cost to form your business on our dedicated Wyoming LLC cost page.

Filing an Amendment

As your business grows, your information may change. Make sure to update your Articles of Organization as needed to stay in good standing with the Wyoming government. You can report these changes by filing an Amendment to the Wyoming Articles of Organization. If your Articles of Organization aren’t correct, it could affect your ability to get a Wyoming Certificate of Good Standing. 

When you need to make a change, use our amendment filing service. You can also cover all your bases with our Worry-Free Compliance service package. Our Worry-Free Compliance service alerts you to essential filing events, covers the cost of up to two amendments per year, and helps you get back on track if you miss a deadline.

Digitally store your Wyoming LLC paperwork

If we do the filing for your Articles of Organization, your paperwork will be available from your ZenBusiness dashboard. Here, you can keep it and other important paperwork digitally organized. It will become available once the state approves your Wyoming LLC.

When you get your physical paperwork back from the state after it approves your LLC, keep it in a safe location with your other important documents. This includes your operating agreement, member certificates, contracts, compliance checklists, transfer ledger, etc. We offer a customized business kit to help you keep these documents organized and looking professional.

Step 4: Create an operating agreement for your Wyoming LLC

Draft an operating agreement for your Wyoming LLC.

What is an operating agreement?

A Wyoming LLC operating agreement is an internal document that contains key information about how your business will be run. A comprehensive operating agreement might include:

• Who manages the LLC
• How ownership in the LLC is divided
• Who can and must vote on important decisions (and what those decisions might be)
• How you calculate how many votes each person has
• What types of things a manager is responsible for
• How to admit new members or managers into the LLC
• What happens when someone leaves the LLC
• How you can transfer ownership of an interest in the LLC
• What happens before, during, and after the LLC is dissolved

An operating agreement is where you and your associates turn if disputes arise (and often, how you avoid future conflicts in the first place). If the operating agreement doesn’t discuss it, the Secretary of State’s default rules for Wyoming LLCs will apply to your operating procedures.

People starting a company may get so caught up in the formation process that they overlook this critical step. Or they may think that it’s an unnecessary expense. Too often, these same businesses find themselves embroiled in a lawsuit or other disputes that the owners might have avoided if they had written an operating agreement.

Are you unsure as to how to create an operating agreement for your LLC? We offer a guided customizable template to help get you started. Our chatbot walks you through the process of creating your agreement and allows for e-signature of the document.

Do I need an operating agreement even if I’m the only owner?

An operating agreement isn’t a legal requirement for setting up a Wyoming LLC, but having one is a good idea. That’s true even if you’re the only owner. If there’s any chance that you’ll admit new members or managers or accept money from investors, an operating agreement may come into play.

It’s better to have an operating agreement written from the beginning than to wait to “deal with it” until a situation arises where you have to have one. After all, that situation may be a lawsuit, at which point it may be too late to put one together until after it’s over.

Furthermore, even if you’re a single-member LLC, an operating agreement can come in handy if your business is ever sued. By showing the court that you took the time to create this official document for your business, you can further convey that you and your business are separate entities. 

Step 5: Apply for an EIN for your Wyoming LLC

Apply for an Employer Identification Number (EIN). Much like a Social Security number (SSN) does for individuals, your EIN identifies your business to the Internal Revenue Service (IRS). 

You’ll need an EIN to do things like:

• Pay taxes
• Hire and pay employees
• Open a business bank account
• Get business licenses and permits

Many people forming a single-member LLC may think getting an EIN is unnecessary. But consider that you will need to keep giving out your Social Security Number if you don’t have a separate EIN for your business. Plus, some banks may not let you open a business bank account without an EIN. Better to protect yourself and make life easier by applying for an EIN.

How to Get an EIN

You get an EIN (also known as a Federal Tax Identification Number, or FTIN) by registering with the IRS. You must provide accurate information to the IRS when applying for an EIN. Any inadvertent errors can cause delays or your filing to be rejected entirely. Errors can also prevent the government from having your correct information on file.

Help ensure this step is done right by using our EIN service.

Get a business bank account

Once you have an EIN for your LLC, you’ll need to get a business bank account. This helps you separate your business expenses from your personal finances, thus giving you better personal asset protection. And with a business checking account, you can make tax filings easier on yourself (because you’ll be able to track business expenses without them being commingled with your personal spending). 

To make things even easier, we’ve partnered with Lending Club to offer a discounted bank account. With this account, you can get unlimited transactions, online banking, a debit card, and more.

And if you’re looking for more help managing your finances, check out ZenBusiness Money. This innovative platform enables you to create and send custom invoices, track tax-deductible expenses, and manage many other financial aspects of your small business.

Note: Looking for a way to establish a line of credit for your business? You might want to consider getting a business credit card. 

Register for business taxes

Fortunately, Wyoming saves businesses a lot of time by not having a corporate income tax or a gross receipts tax. But that doesn’t mean companies don’t pay any taxes. Taxes that your small business may need to pay include:

• Sales tax (sales and use tax), if you’re selling a physical product 
• Payroll tax
• Employer taxes
• Unemployment insurance tax
• Federal taxes (like Medicare and Social Security)
• Annual Report License tax

By default, single-member LLCs are taxed as sole proprietorships, and multi-member LLCs are taxed as partnerships. LLCs also have the option of being taxed as corporations. Talk to a tax professional to find out what options are available to you and what the best one is for your circumstance.

Can filing as an S corp lower my taxes?

The LLC business structure gives you flexibility, and that extends to how you can choose to have your LLC taxed.

An LLC has pass-through taxation by default. This appeals to most owners of LLCs because it avoids “double taxation,” in which a corporation pays taxes at both the business level and again when the income is paid to the individual owners. But some LLCs opt to be taxed as a C corporation or an S corporation because, in their case, it works to their advantage.

Being taxed as a C corporation does mean you get double taxation, but, for certain LLCs, the pros sometimes outweigh the cons. One benefit is that C corporations have the widest range of tax deductions, which could be an advantage in some scenarios, especially for more profitable LLCs. For instance, employee insurance premiums can be written off as a business expense.

S corp (short for “Subchapter S Corporation”) is a tax status geared toward small businesses. Having your LLC taxed as an S corp has pass-through taxation like a standard LLC, but it has another potential advantage for some LLCs: It could reduce your self-employment taxes. 

Self-employment taxes are the portion of your taxes that pay for Social Security and Medicare. In a typical LLC, you would pay these on all of your profits.

But filing as an S corp allows you to be an “employee-owner” and split your income into your salary and your share of the company’s profits. In this way, you pay employment taxes on your salary, but not self-employment taxes on your profits. (You’ll still pay the other applicable taxes on your LLC profits, of course.)

One drawback is that the Internal Revenue Service scrutinizes S corps more closely, meaning you’re more likely to get audited. S corps also have more restrictions for qualifying.

Though it’s possible that one of the above options could work better for your LLC, remember that business taxes are complicated. They’re also very specific to your situation. That’s why you need to consult a tax professional to see which taxing method works best for your Wyoming business.

Wyoming doesn’t have any corporate or individual state income tax. Because of this, the potential benefits of filing as an S corp are primarily for federal tax purposes.

If you decide to form your Wyoming LLC with an S corp status, our S corp service can help you do that.

We can help

From Yellowstone National Park and Old Faithful to the Grand Prismatic Springs and the National Elk Refuge, Wyoming has a lot to offer in the expansive 97,813 square miles within its borders. Ready to start a dry cleaning business in Douglas? Or a bookstore in Buford? We have helped over 500,000 people start, run, and grow their businesses. Let us help you write your success story.

Our formation services can help you launch your business. Services like our Worry-Free Compliance can help keep you in the government’s good graces. You can even use ZenBusiness Money’s variety of business accounting tools to manage your finances. Whatever you need to start, run, and grow your business, we’ve got your back. Reach out to us today! 

Disclaimer: The content on this page is for informational 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.