Wyoming What To Do When Starting a New Business
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FAQ
When it comes to being a sole proprietor in the state of Wyoming, there is no formal setup process. There are also no fees involved with forming or maintaining this business type. If you want to operate a Wyoming sole proprietorship, all you need to do is start working.
Corporations: To create a corporation in Wyoming, you must file Articles of Incorporation with the Wyoming SOS. You will also need to appoint a registered agent in Wyoming for service of process. Although not legally required, you also should prepare bylaws to establish your corporation's internal operating rules.
The Wyoming Secretary of State charges a $100 fee to file the Articles of Organization by mail and $102 to file online. You can reserve your business name by filing an LLC name reservation for $50. Wyoming LLCs are also required to file an annual report license tax, which is a minimum of $50.
Wyoming. Wyoming is the best state to start a business for a variety of reasons. For starters, Wyoming's business tax climate is conducive to starting a business. The state doesn't have a corporate income tax, individual income tax or gross receipts tax, according to the Tax Foundation.
The State of Wyoming requires you to file an annual report for your LLC. You can complete the report online at the Secretary of State website. You can also download a form already containing key information for your LLC from the SOS website.
Many companies incorporate in Wyoming because the administrative costs are generally lower than in Delaware or Nevada. Unlike many states, Wyoming does not require licensing or filing fees to be paid to complete the process of incorporation.
How to Start a Business in WyomingChoose a Business Idea. Take some time to explore and research ideas for your business.Decide on a Legal Structure.Choose a Name.Create Your Business Entity.Apply for Licenses and Permits.Choose a Business Location and Check Zoning.Taxes and Reporting.Obtain Insurance.More items...
Fortunately, there is no general Wyoming business license per se. For most businesses in the state of Wyoming, a business license isn't necessary, so there are no extra fees to pay or forms to file. You must only pay for an annual report and maintain a registered agent in Wyoming.
If you don't register your business, a bank will not provide you with a business account. Additionally, if you do not register your business, the chances of getting funding from investors (unless they are friends or family) are next to none.
Wyoming LLC Fees Starting the company only requires a $100 filing fee payable to the Wyoming Secretary of State. The price is $102 if you file online. There is a $2 convenience fee. We only charge $199 to form a Wyoming LLC.