- Step 1. Naming Your Wyoming LLC
- Step 2. Choosing a Registered Agent
- Step 3. Filing the Certificate of Formation
- Step 4. Create an Operating Agreement
- Step 5. Getting an EIN/Tax ID Number
- Step 6. Keeping Your LLC Running
- Wyoming LLC FAQs
Step 1. Naming Your Wyoming LLC
An essential step in the LLC creation process is choosing a representative name for your business that doesn’t infringe on other LLC in the state while also following a few naming rules.
Legally Required Designation
Adhering to Wyoming LLC regulations, the name of your business must contain the phrase “limited liability company” or one of the following abbreviations:
- Ltd. Liability Company
- Ltd. Liability Co.
- Limited Liability Co.
If you’ve started a low-profit limited liability company, you can use the following phrases or abbreviations when naming your business:
- Low Profit Ltd. Liability Company
- Low Profit Ltd. Liability Co.
- Low Profit Limited Liability Co.
For more information on whether your LLC qualifies as a low-profit LLC, you can check out this article or browse our frequently asked questions [ANCHOR TO #FAQs]below[END ANCHOR LINK].
To ensure that the name you choose for your LLC is unique, you can perform a search of the business database on the Wyoming Secretary of State’s website. You should also consult the Secretary of State’s guide on choosing and searching for a company name.
If you see an available name, you can file an Application for Reservation of Name with the Wyoming Secretary of State. There is a $60 filing fee for this form, and it must be mailed to the address on the document. Once processed, the reservation holds your chosen name for up to 120 days before officially establishing your LLC.
Additionally, you may want to perform a search of available domain names while looking for your LLC name. It can be helpful to purchase a domain name ahead of time, regardless of when you want to set up a business website.
When choosing an LLC name, remember that you cannot include any words that confuse your business with a government entity. This includes words like “IRS,” “Treasury,” or “State Department.”
You should also be aware that words such as “dentist,” “attorney,” or “chiropractor” may require the presence of a properly licensed individual in your LLC — along with filing separate paperwork.
Wyoming doesn’t provide for the formation of professional LLCs, but you can practice professionally under a traditional LLC or form a professional corporation. More information on this can be found here.
Using an Assumed Name
An assumed or DBA (doing business as) name can be used for your LLC in Wyoming. This means you continue using the legally registered LLC name on all official documents but use a different registered name when interacting with the public.
You are not required to register your trade name in Wyoming — you can simply start using it to interact with the public — but you may want to file an Application for Registration of Trade Name anyway. This document alerts others to your use of the name, which helps reduce any infringement on your name. There is a $100 filing fee for this form, and it must be mailed to the address on the document.
Step 2. Choosing a Registered Agent
Every LLC in Wyoming is required to obtain a registered agent. Your registered agent is responsible for receiving all legal documents, government communications, and tax documents for your LLC; they essentially act as a contact point between your business and state or federal agencies. They are also the party that is contacted in the event of a lawsuit against your LLC.
You can appoint any Wyoming resident, including a member of your LLC — or a business that is authorized to conduct operations in the state — as your registered agent. As long as your appointee has a valid Wyoming address and is available during regular business hours, they can be your registered agent.
Step 3. Filing the Certificate of Formation
To officially establish your LLC in Wyoming, you must file your Articles of Organization with the Secretary of State’s office. This document needs to include essential information about your business, some of which you can preview below.
- Your LLC’s registered agent name and address
- Your LLC’s mailing address and principal office address
- The LLC’s organizer’s name, address, and signature
Your Articles of Organization will also need to include a Consent to Appointment by Registered Agent signed by the registered agent. This form is included on the printable Articles of Organization document and available during online filing.
There is a $100 fee associated with this form and a $2 convenience fee for online filing. Wyoming does not offer expedited processing, so it can take up to 15 business days upon receipt for your LLC to be established in the state.
If you file your Articles of Organization online, you can visit the Wyoming Secretary of State’s online business center. From there, select the option to form a new business and proceed through the instructions. You will be prompted to pay the $100 filing fee and $2 online convenience fee upon submittal of the form.
File By Mail
To file your Articles of Organization by mail, complete and print out this form. Place the completed form into a secure envelope along with a $100 check made out to the Wyoming Secretary of State. Then send the sealed document to the address below.
Wyoming Secretary of State
2020 Carey Avenue
Cheyenne, WY 82002
Step 4. Create an Operating Agreement
Wyoming does not require LLCs in the state to create and file an operating agreement, but you may want to consider creating one anyway. An effective operating agreement sets clear guidelines for how your LLC is managed. It also outlines the rights that members or managers have and what to do if your LLC dissolves or experiences a lawsuit.
If you choose not to create an LLC operating agreement, Wyoming LLC law will dictate how your LLC is to be managed in the event of dissolution, conflict, or lawsuit. This may not be in your best interest, so creating an operating agreement can protect yourself and your assets.
Step 5. Getting an EIN/Tax ID Number
After your LLC is established, you must apply for a Tax ID number, also known as an EIN (Employer Identification Number), through the IRS. Any LLC that has more than one member, or for any single-member LLC that wants to hire employees or chooses to be taxed as a corporation, is required to apply for an EIN.
Your EIN is used to identify your business to the IRS on all tax documents and necessary government filings; the number acts as a social security number for your LLC. If you want to hire employees, file federal taxes, open business bank or credit accounts or apply for business funding, you need an EIN.
It is free to apply for your EIN with the IRS, and you can file the application online or by mailing it in. Keep in mind that if you are a foreign filer or do not have a social security number, you must file for your EIN through the mail.
The quickest and easiest way to apply for your EIN is online; you will receive your number once your application is completed. Visit the IRS website to apply for your EIN for free.
You must fill out this form when applying for your LLC by mail. If you are a foreign filer or do not have a social security number, leave section 7b blank. Mail the completed form to the address below. You can follow up on any questions with the IRS at (267) 941-1099.
Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
Step 6. Keeping Your LLC Running
There are several items of business that you must keep up with on an ongoing basis if you want your LLC to stay running as smoothly as possible.
File Annual Reports
All LLCs operating in Wyoming are required to submit an annual report to the Secretary of State. The annual report includes a license tax that all LLCs pay based on income earned; in general, this must be greater than a $50 minimum or two-tenths of one mill on the dollar ($.0002) of the business’s assets located in Wyoming.
You can file this report online or through the mail. Each year, the report and accompanying payment are due on the first day of the LLC’s anniversary month. For example, if your LLC was established on December 7th, your annual report and tax license payment are due by December 1st each year.
Failure to file your annual report within 60 days of the due date can result in your LLC being involuntarily dissolved by the state.
Separate Your Business Finances
LLCs aren’t required to open a separate business bank account in Wyoming, but you may want to establish one anyway. A business credit or debit account can keep your LLC’s finances separate from personal ones; this establishes the LLC as an independently operating business.
You likely need to show your Articles of Organization, operating agreement, EIN, or other LLC documents to open a bank account for your LLC. Compare all your options before choosing which bank account to open, as different banks have varying minimum required balances or credit spending limits; you want to be sure that you select what is best for your LLC’s needs.
Keep Up With Federal and State Taxes
It is essential to keep up with federal and state taxes while running your LLC to avoid tax penalties or fines on your business.
Federal Tax Requirements
There are several tax structures you can choose from to use in your LLC that may meet different company needs; each tax structure comes with its own unique type of federal taxation. This article can help you gain an in-depth understanding of the differences between each type and help you decide which is best for you.
In general, most LLCs are taxed as sole proprietorships or partnerships. This means you are expected to file Schedule C along with your individual income tax return to declare any income received through your LLC.
When using this tax structure, keep in mind that you most likely need to pay self-employment tax (at a rate of 15.3%) in addition to any income tax. You may also need to make quarterly estimated tax payments to avoid IRS fines; the IRS website gives more details on this.
You can also choose to have your LLC taxed as a corporation, like an S Corporation or a C Corporation. You must fill out IRS Form 8832 and IRS Form 2553 to declare this. After these have been processed, your LLC will be treated as a corporation and expected to file a separate corporate tax return with the IRS.
Wyoming Business Taxes
LLCs in Wyoming are not generally required to pay extra taxes on their business income, save for the annual tax license fee. This is because Wyoming does not have a personal income tax or corporation taxes, so no matter how your LLC’s tax structure is set up, you are liable for extra state taxes.
Sales and Use Taxes
If your LLC sells goods or services in Wyoming, you may be eligible to pay sales and use tax — also referred to as an excise tax — to the state. This tax can be registered for and paid through the Wyoming Department of Revenue, and more information about eligibility to pay this tax can be found here.
State Employer Taxes
While there is no withholding tax in Wyoming, thanks to a lack of personal income taxes, you may be required to pay this on a federal level. If your LLC has employees, you will likely be liable to pay unemployment insurance taxes.
The Wyoming Department of Workforce Services has all the information you need about registering for, calculating, and paying this tax in the state.
Acquire Necessary Permits and Licenses
There is no general business license requirement in Wyoming, but you may need to acquire certain permits or licenses at a local level. Check with your area’s County Clerk’s Office for more information on local licensing.
You can also consult with Wyoming’s Business Permitting and Licensing guide or with the Wyoming Economic Development Agency for more information on professional licensing regulations for your LLC.
At a federal level, you may be required to obtain certain permits and licenses for your LLC, depending on the type of business you run and the services you offer. To determine if you need to meet additional federal licensure requirements, you can use the directory on the US Small Business Administration’s website.
Wyoming LLC Resources
This list of resources can guide you through each step of the LLC set up process in Wyoming.
- Available LLC name search
- Reserve an LLC name
- Available domain name search
- Trade name registration application
- Articles of Organization online file
- Articles of Organization form
- IRS EIN online application
- Annual Report online file
- Wyoming Department of Revenue
- Wyoming Department of Workforce Services
- Business Permitting and Licensing Guide
- Wyoming Economic Development Agency
- S. Small Business Administration
Wyoming LLC FAQs
These frequently asked questions can shed more light on the LLC establishment process in Wyoming.
In Wyoming, it costs $100 to file your Articles of Organization by mail (or $102 to file online), $60 to reserve an LLC name, and $100 to register a DBA name.
The cheapest way to start an LLC in Wyoming would be to file your Articles of Organization by mail without first reserving an LLC name or registering a DBA name. Doing this will only cost $100, though filing your articles online may be easier and will only cost $102.
A low-profit LLC in Wyoming operates like a traditional LLC but uses most of its profits for charitable efforts. This makes it a combination of a non-profit organization and a regular LLC, which can be beneficial for those who want their businesses to be socially beneficial and not necessarily profitable. More information about this can be found here.
How much your LLC pays in taxes depends on the income that your business makes and the individual tax structure that you set up. In addition to federal taxes, you must pay the annual tax license fee, and you may be liable to pay sales and use taxes or unemployment insurance taxes.
Your LLC must file state reports on an annual basis with the Wyoming Secretary of State. The fee for filing depends on how much you owe on your tax license, and the report is due by the first day of your LLC’s anniversary each year.
If you are finished conducting operations with your LLC, you need to file Articles of Dissolution with the Wyoming Secretary of State’s office. There is a $60 filing fee, and it must be mailed to the address on the document.
Make sure you also consult any operating agreements your LLC has to ensure you are completing the designated actions for fully shutting down your business.