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Domestication occurs when an out-of-state entity wishes to transfer their state of formation to Wyoming and become a Wyoming entity. Entities formed in another country cannot domesticate. A certificate of existence or good standing is required.

Wyoming has a 4.00 percent state sales tax rate and an average combined state and local sales tax rate of 5.44 percent. Wyoming has a 0.55 percent effective property tax rate on owner-occupied housing value. Wyoming does not have an estate tax or inheritance tax.

Is There a Difference Between Domestication and Continuation in Wyoming? The major difference between domestication and continuation is that only out-of-state businesses can domesticate in Wyoming. Continuation is a process that allows out-of-state and out-of-country businesses to relocate to Wyoming.

Domestication refers to the process of moving a company's legal registration or incorporation from one state to another while maintaining its existence as a single entity.

How Wyoming Taxes Businesses. While in most other states, income derived from pass-through entities like partnerships, LLCs, and S-corporations are subject to the state's personal income tax, and C-corporations are subject to its corporate tax, Wyoming has no personal income tax or corporate income tax.

Management, as defined here, centers on the actions of the manager in attempting to enhance the returns of a resource of interest. The definition of domestication emphasizes the coevolving mutualism between the manager and the managed resource and the responses each make to promote this relationship.

Wyoming has one of the lowest tax burdens in the nation. In Wyoming, the extractive industries play a major role in generating revenues for state and local governments. In fact, it is estimated that minerals directly contribute roughly two-thirds of the State's revenue.

Wyoming LLC Administrative Dissolution If you're shutting down your LLC in Wyoming, you may be tight on money, and LLC Articles of Dissolution cost $60 to file. If you don't file your LLC's annual report, three months after the due date, the Wyoming Secretary of State will administratively dissolve your LLC.

To change either address, you can file an Update Form. The form should be filled out, signed and mailed to the Wyoming Secretary of State. You will need to include the name of your corporation and your company's state ID number (if you've forgotten your ID number, it can be found by conducting a business name search).