Wyoming Proposed merger with the Grossman Corporation

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Multi-State
Control #:
US-CC-7-116
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Word; 
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This sample form, a detailed Proposed Merger with the Grossman Corporation document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

You can form a Wyoming LLC even if you don't live in Wyoming. Residency in the state, or the USA, is not required to form a company. A majority of LLCs are formed by non-residents. Forming an LLC in Wyoming as a non-resident is the same process as for a resident.

An LLC generally requires less business formalities than a corporation. An LLC may be managed directly by members and there is no need to have a separate board of directors, annual shareholder meetings or periodic directors meetings with minutes.

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.

Wyoming has many advantages over other states for building an LLC. It has no state income tax, filing and reporting costs are low, members' privacy is assured, and it has charging order protection laws.

Wyoming does not levy state and business taxes on LLCs. This is helpful for Wyoming residents since they won't have to pay double taxes. Being one of the zero-income tax states, Wyoming remains appealing to many LLC owners. It also implements zero corporate tax, franchise tax, and stock tax.

It costs $199 to incorporate your business in Wyoming for the first year. Subsequent years will require a $52 annual report and our $59 Wyoming registered agent service. Every $199 corporation includes: State Filing Fee.

Owner employment: In an S corp, owners who work for the company must receive a reasonable salary and are subject to payroll taxes. In contrast, owners of an LLC can take profits without paying payroll taxes, although they are subject to self-employment taxes.

To start a corporation in Wyoming, you'll need to do three things: appoint a registered agent, choose a name for your business, and file Articles of Incorporation with Wyoming's Secretary of State. The articles cost $100, and they can be filed online (add $2), by mail, or in person.

Corporations are different from CCorporations in that Corporations do not have to deal with double taxation and only file taxes annually. There is also a limit to how many shareholders the company may have.

Wyoming's charging order protection laws are effective for members to protect their LLC assets and ownership from creditors. However, that protection does not extend outside of Wyoming. Members living out of state will have to deal with different laws protecting their LLC assets from garnishment by creditors.

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Wyoming Proposed merger with the Grossman Corporation