Starting a business in Wyoming will mean potentially registering with a number of federal, state and local agencies. Let’s take a look at common licenses and permits a business will register for in Wyoming.
Business License – There is no general state of Wyoming business license, however many cities require businesses to be licensed in order to operate. Rules for business registration vary depending on location and what the business does. Below are a few cities that have licensing requirements.
Cheyenne – A General Business License is needed for certain businesses such as beauty shops, bowling alleys, firearms dealers, food trucks and several others.
The cost of a business license varies, but generally less than $100 annually.
Casper – The City of Casper requires business registration for junk dealers, bed & breakfasts, taxis and others.
Laramie – New businesses starting or operating in Laramie city limits will need a business license from the City Clerk if they are junk dealers, mobile vendors, pawnbrokers, roller skating rinks and others.
Employer Identification Number (EIN) – Many businesses will register with the Internal Revenue Service (IRS) for an EIN or Employer Identification Number. The EIN is the business equivalent for a Social Security Number for an individual. Corporations, Limited Liability Companies, Partnerships and Sole Proprietorships with employees will all need to register for one. Sole Proprietorships without employees can use the owner’s Social Security Number.
There is no cost for an EIN and it only takes a few minutes to get.
Wyoming Business Tax Number – The Wyoming Business Tax Number (IBT) is an identification number issued by the Wyoming Department of Revenue. Sometimes known as the REG-1 Form, the IBT is required for all businesses planning to hire employees, buying or selling products (sometimes referred to as a sales tax permit), or manufacturing goods.
There is no cost to register for an Wyoming Business Tax Number and is usually processed in 2-3 business days.
Resale Certificate of Exemption – Businesses purchasing merchandise to resell will usually want to obtain a Wyoming Certificate of Exemption in order to not pay sales tax for merchandise that is being resold to customers.
Professional License – A variety of professions in the state are regulated and need to be registered before offering certain services. A few common professions that require licensing in Wyoming include; athletic trainers, physical therapists, landscapers, barbers and many more.
In addition to professional licenses, there are business specific permits for contractors, food service and others. More information is available from the Business Permitting Program.
Trade Name Registration – While not a business license, it’s common for Sole Proprietorships and Partnerships operating under a name that is different from the full name of the owner(s) to register for a Trade Name (also known as a Doing Business As or DBA) with the Secretary of State.
These are a few of the most common business licenses, but there are way too many licenses and permits in Wyoming for us to keep track of. Before starting your business, check with the City Hall, County Clerk, Chamber of Commerce and/or Economic Developer in your area to get more information regarding business licensing. Additionally, there are companies like IncFile or CorpNet that can do the research to ensure you have the proper federal, state and local licenses.