Cost to form an LLC in Wyoming - $100 Mail-in filing, $102 Online filing
Recurring Fees - $50 Annual Report Fee
Filing Time - It normally takes 3-5 days for the LLC paperwork to be approved in Wyoming when filing by mail or instantly when filing online.
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The Limited Liability Company (LLC) is a popular business entity choice structure for many businesses starting in Wyoming. The LLC provides personal liability protection and has the potential to save money on taxes. With a little research, you can learn how to form an LLC in Wyoming without an attorney.
Unlike a sole proprietorship or partnership where the small business owner can be personally liable for lawsuits against the business, the LLC is a separate legal structure, protecting for the business owner’s personal assets.
Related: How Does an LLC Protect You?
Besides the liability protection, the Limited Liability Company provides several other benefits over the sole proprietorship, partnership, and corporation because of the multiple tax options, ease of administration and management flexibility.
Forming an LLC in Wyoming is fairly straightforward, but it’s nice to have some support in case you have questions or get stuck. IncFile and Inc Authority provide LLC formation guidance for only the cost of the state fees!
To form a Limited Liability Company in Wyoming, file the Articles of Organization with the Wyoming Secretary of State. The LLC filing fee is $100. There is an additional $2 filing fee when filing online.
Approval for the LLC is immediate when filing online or 3-5 business days when filing by mail.
HOW TO FILE THE ARTICLES OF ORGANIZATION AND FORM A WYOMING LLC
The steps for filing online or by mail are largely the same. The screenshots show how to file online.
- Begin by visiting the Wyoming Secretary of State’s website. If you prefer to fill out and mail the application, download the Articles of Organization Form.
- Click on “Start Now!”
- On the next page, find the drop-down menu under “Choose a Business Entity Type” and select select Limited Liability Company (Domestic).
- On this page, you will also have to acknowledge that the information entered in the Articles of Organization will become public information.
Step 1: LLC Name
Enter the name you want for the LLC. The name of the LLC has to differ from other entity names registered with the Secretary of State. You can check on available LLC names in Wyoming before going through the filing process to be sure the one you want is available.
The name of the LLC must also include a designator at the end of the business name. A designator describes what type of business entity it is. Available designators include:
- Limited Liability Company
- Limited Company
- Ltd. Liability Company
- Ltd. Liability Co.
- Limited Liability Co.
A comma may be used after the business name and before the designator. “Cowboy Cleaners LLC” and “Cowboy Cleaners, LLC” are both acceptable.
Before settling on a name, you may want to do a domain name search to try and match your business name and website address.
Enter the name along with the designator you would like to use twice to confirm.
There are additional designations available for an LLC to choose from (not common).
Close Limited Liability Company – Often used for estate planning, this type of LLC provides additional restrictions on transfers, membership rights and dissolution of the LLC.
L3C – A hybrid of a for-profit LLC and non-profit, this type of LLC has a charitable mission and intends to have a low profit.
Series LLC – Most commonly used for real estate investment businesses, the Series LLC provides liability protection across multiple asset groups or businesses, each of which would be protected from liabilities from the other series.
Series and Close – A combination of the Series LLC and Close LLC.
Step 2: Detail
Period of Duration – Indicate how long the Limited Liability Company will remain in existence. Most LLCs will choose a “Perpetual” duration, which means there is not an expected end date. Some businesses (usually investment related) will have a specific closure date.
Delayed Effective Date – If you want the LLC to start as soon as the Secretary of State files the Articles of Organization, enter nothing. If you want the LLC to start later, enter a date less than 90 days in the future. The main reason for delaying the LLC start date is when the filing is being done close to the end of a calendar year and the business isn’t going to have any activity until the start of the year. By delaying until the following year they will reduce the number of end-of-year filings.
Step 3: Registered Agent
To have an LLC in Wyoming, a Registered Agent must be identified. The Registered Agent acts as a point of contact to receive legal documents, tax notices, summons, subpoenas, etc on behalf of the LLC.
The Registered Agent can either be a resident of Wyoming, or an entity registered with the Secretary (such as a Registered Agent service, attorney, etc.). If the Registered Agent is an entity, use the “Search for a Registered Agent” box. If it is an individual, use the “Enter Agent Information” box and enter their name, address, phone and email. If an individual is selected, be sure to have a signed and dated statement stating their consent of appointment for this entity.
The agent must have a physical address in the state (PO Boxes are not allowed)
Even though the business owner can be the registered agent, their name and address become public record and with that comes a loss of privacy. This is more important for some entrepreneurs, especially when they are doing business from home.
Step 4: Addresses
Principal Address – In this section, enter the street address, city, state and zip code of the initial principal office. This address can be the physical address of the LLC or it can be the address where the business records are stored. You may not use a PO Box for the designated office.
Mailing Address – Enter the mailing address. It can be the same as the Principal Address, but if correspondence from the Secretary of State should go to another address, enter that information in the Mailing Address Section.
Step 5: Organizers
An LLC Organizer is someone involved with the formation of the Articles of Organization. The Organizer may or may not become a member, such as a mentor, attorney or accountant, but any of the initial members can be listed as an organizer.
Enter the organizer(s) name and address and click the “Add” button after each organizer.
Step 6: Additional Articles
This is an optional section and not used by most LLCs. Here you would include additional rules for the operation of the LLC.
Review that all the information is correct. If there are no corrections, click “Continue”
Pay and File
Pay and file the Articles of Organization.
Professional services like IncFile and IncAuthority help guide you to make sure it’s done right and you only pay the normal state fees.
Check out our reviews of popular LLC formation services to learn more.
Tasks After Forming Your LLC
Once the LLC has been formed, there are a few additional steps to take care of. Below is a list of the most common tasks.
Prepare an Operating Agreement
The operating agreement is a document that governs the framework of an LLC. This document covers items like ownership rights, member responsibilities, how profits and losses are distributed and more.
Most states do not require an LLC to have an operating agreement but it is still worth considering. Without an operating agreement:
- The LLC could be subject to generic state rules that may be detrimental in the event of a lawsuit
- Member’s personal liability protection may be diminished
- Members may not have a full understanding of their roles and responsibilities which could lead to costly disputes in the future
Related: Wyoming operating agreement template
Obtain an EIN
The EIN or Employer Identification Number is a unique 9-digit number for a business. Similar to a social security number for an individual, the EIN identifies business entities for tax purposes.
The EIN will be needed in order to open a bank account, register for business licenses and permits, file tax returns, pay payroll taxes and more.
Related: How to Apply for an EIN
Open an LLC Bank Account
Opening a bank account for your LLC is important for liability protection as the account separates the business’s funds from the member’s personal funds.
Several documents will be needed to open a business bank account such as:
- A banking resolution is a document that authorizes the members to open a business bank account on behalf of the LLC.
- Copies of the original formation paperwork from the state showing the creation of the LLC.
- Driver’s licenses of the members.
- Depending on the age of the LLC, a Wyoming Certificate of Good Standing may be needed to prove the LLC is active and in good standing with the state.
Apply for Business Licenses and Permits
Depending on what your business does and where it is located, there will likely be a variety of business licenses and permits to register for before starting. Some common registrations include:
- Business License – Some cities require businesses to obtain licensing before they can start. In some cases, even home-based businesses must have licensing in order to legally operate.
- Professional License – Certain services such as barbershops, accountants, salons and others must be licensed.
- Business Tax Number – In order to sell products and certain services, registration with the Wyoming Department of Revenue will be necessary.
File Annual Reports
LLCs are required to file an annual report with the Wyoming Secretary of State. The annual report updates ownership information and other details.