How to Start an LLC in Wyoming (2024 Guide)
Wondering how to start an LLC in Wyoming?
To get started, you'll need to pick a suitable business name, choose a registered agent, and file your Articles of Organization with the Wyoming Secretary of State ($100 - $102 processing fee).
You can do this independently, consult with a business attorney for specialized legal guidance, or join the other 65% of our readers and hire a specialized Wyoming LLC formation service (recommended).
Northwest ($29 + State Fees)
LegalZoom ($249 + State Fees)
How to Form an LLC in Wyoming in 6 Steps
In order to form your LLC in Wyoming, there are certain steps you’ll need to complete:
- Name Your LLC
- Choose a Registered Agent
- File the Articles of Organization
- Create an LLC Operating Agreement
- Obtain an EIN
- File a Beneficial Ownership Information Report
Step 1: Name Your Wyoming LLC
Before you get started, you will need to pick a suitable name for your Wyoming LLC.
This will need to comply with all applicable naming requirements under Wyoming law and be both succinct and memorable, as this will make it easily searchable by your potential clients.
1. Important Naming Guidelines for Wyoming LLCs:
- Your name must contain the words “limited liability company” or one of its abbreviations (e.g., L.L.C., LLC, Ltd, Liability Co., etc.).
- Your name cannot include words or phrases that could confuse your LLC with a state or federal agency (e.g., FBI, State Department, Treasury, etc.).
- Your name must be distinguishable from any Wyoming limited liability company (LLC), corporation, limited liability partnership (LLP), or limited partnership (LP).
There are also certain words or names that require additional review in order to be included; these cannot be filed online and must be mailed to the SOS’s office. Examples of such words include:
- “Academy,” “college,” “institute,” and similar words, which require approval from the Department of Education
- “Banker,” “PTC,” Trust, and similar words, which require approval from the Division of Banking.
For more information, have a look at Wyoming's How to Choose a Business Name document.
2. Is the name available in Wyoming?
To check whether your desired name has already been taken by another business entity in Wyoming, you can perform a Business Entity Search on the Wyoming Secretary of State’s website.
If you’re not going to start your LLC right away, it might be a good idea to consider reserving your name for up to 120 days by filing an Application for Reservation of Name with the Secretary of State and paying the $60 processing fee.
For more information, you can have a look at our Wyoming LLC Name Search guide.
3. Is the URL available?
We recommend that you check to see if your business name is available as a web domain. Even if you don't plan to make a business website right away, this is an extremely important step as it will prevent others from acquiring it, potentially saving you both time and money in the long term.
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Once you have verified your name is available, you may now select a professional service to complete the LLC formation process for you.
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FAQ: Naming a Wyoming LLC
LLC is short for “limited liability company.” It is a simple business structure that offers more flexibility than a traditional corporation while still providing legal protection for your personal assets. Read our What is a Limited Liability Company guide for more information.
Or, watch our two-minute video: What is an LLC?
You must follow the Wyoming LLC naming guidelines when choosing a name for your LLC:
- Include the phrase "limited liability company" or one of its abbreviations (LLC or L.L.C.).
- Do not use words that could confuse your business with a government agency (FBI, State Department, CIA, etc.).
- Receive the proper licensing when using the words such as lawyer or doctor.
If you are having trouble coming up with a name for your LLC, use our LLC Name Generator. That will not only find a unique name for your business but an available URL to match.
Most LLCs do not need a DBA, known in Wyoming as a trade name. The name of the LLC can serve as your company’s brand name and you can accept checks and other payments under that name as well. However, you may wish to register a DBA if you would like to conduct business under another name.
To learn more about DBAs in your state, read our How to File a DBA guide.
Step 2: Choose a Registered Agent in Wyoming
After you find the right name for your LLC, you will need to nominate a Wyoming registered agent. This is a necessary step in your Articles of Organization (i.e., the document used to file and register your LLC with the Secretary of State).
What is a registered agent? A registered agent is an individual or business entity responsible for receiving important legal documents on behalf of your business. You can think of your registered agent as your business’s primary point of contact with the state.
Who can be a registered agent? A registered agent must be a resident of Wyoming or a business entity, such as a Wyoming registered agent service, an individual (e.g., yourself, etc.), or a business attorney who is authorized to transact business in the state of Wyoming.
Note: Wyoming requires registered agents to complete a Consent to Appointment by Registered Agent form in order to be accepted, which can be found in the last page of your LLC’s Articles of Organization if filing by mail.
FAQ: Nominating a Registered Agent
Yes. You can choose to act as your own registered agent, appoint a member of your LLC, work with a business attorney, or hire a professional registered agent service (recommended).
Read more about being your own registered agent.
It can be – this is because a registered agent is an affordable way to get your LLC registered with the Secretary of State (especially in comparison to using a business attorney) and can save you a significant amount of time when starting out.
Step 3: File the Wyoming LLC Articles of Organization
To register your Wyoming LLC, you'll need to file the Articles of Organization with the Wyoming Secretary of State. You can do this online, by mail, or by fax.
Before filing, make sure you have completed your Articles of Organization correctly. You will need to have filled in the following sections:
- The name of your LLC
- The name and address of your registered agent; this must be a physical address in Wyoming, not a P.O. box.
- The mailing and principal office address of your LLC
- Your full name, daytime phone number, email address, and signature
- The completed Consent to Appointment By Registered Agent form
File the Articles of Organization
OPTION 1: File Online With the Wyoming Secretary of StateFile Online
- OR -
OPTION 2: File by MailDownload Form
State Filing Cost: $100 by mail and $102 if you file online, Payable to the Secretary of State (Nonrefundable)
Wyoming Secretary of State
2020 Carey Ave.
Cheyenne, WY 82002
For help with completing the form, visit our Wyoming Articles of Organization guide.
Note: If you're expanding your existing business to the state of Wyoming, you'll need to register as a foreign limited liability company (LLC).
FAQ: Filing Wyoming LLC Documents
This can depend on a variety of factors. Generally speaking, the Wyoming Secretary of State states that processing time can take up to 15 business days.
Keep in mind that, unlike most states, Wyoming statutes do not allow for expedited filing options.
An LLC is referred to as a "domestic LLC" when it conducts business in the state where it was formed. A foreign LLC must be formed when an existing LLC wishes to expand its business to another state.
Read our What Is a Foreign LLC article to learn more.
The cost of filing your formation documents with the Secretary of State is $102 online or $100 by mail. Having said that, your total cost may be higher, as this will depend on whether you purchase a third-party formation service, consult with a business attorney, and/or reserve a specific name.
To learn more, read our guide on the cost to form a Wyoming LLC.
Step 4: Create Your Wyoming LLC Operating Agreement
An operating agreement is not required for a Wyoming LLC, but it's a good practice to have one.
What is an operating agreement? An operating agreement is a legal document outlining the ownership and operating procedures of an LLC.
Why are operating agreements important? A comprehensive operating agreement ensures that all business owners are on the same page and reduces the risk of future conflict.
For more information on operating agreements, read our Wyoming LLC operating agreement guide.
FAQ: Creating a Wyoming LLC Operating Agreement
No. The operating agreement is an internal document that you should keep on file for future reference. However, many states do legally require LLCs to have an operating agreement in place.
Step 5: Get a Wyoming LLC EIN
You can get an Employer Identification Number (EIN) from the IRS for free. It is used to identify a business entity and keep track of a business’s tax reporting. It is essentially a Social Security number (SSN) for the company.
Why do I need an EIN? An EIN number is required for the following:
- To open a business bank account for the company
- For federal and state tax purposes
- To hire employees for the company
Where do I get an EIN? An EIN is obtained from the IRS (free of charge) by the business owner after forming the company. This can be done online or by mail.
FOR INTERNATIONAL APPLICANTS: You do not need an SSN to get an EIN. Learn more here.
Get an EIN
Option 1: Request an EIN from the IRS
- OR -
Option 2: Apply for an EIN by Mail or Fax
Internal Revenue Service
Attn: EIN Operation
Cincinnati, OH 45999
Fax: (855) 641-6935
FAQ: Getting an EIN
A Social Security number is not required to get an EIN. You can simply fill out IRS Form SS-4 and leave section 7b blank. Then call the IRS at (267) 941-1099 to complete your application. Learn more here about applying as an international applicant.
All LLCs with employees, or any LLC with more than one member, must have an Employer Identification Number. This is required by the IRS.
Learn why we recommend always getting an EIN and how to get one for free in our Do I Need an EIN for an LLC guide.
When you get an EIN, you will be informed of the different tax classification options that are available. Most LLCs elect the default tax status.
However, some LLCs can reduce their federal tax obligation by choosing the S corporation (S corp) status. To learn more, read our LLC vs. S Corp guide.
Step 6: File a Beneficial Ownership Information Report
Beginning January 2024, LLC owners will need to file a Beneficial Ownership Information (BOI) Report with the US Financial Crimes Enforcement Network (FinCEN). Existing LLCs can file their report any time between January 1, 2024, and January 1, 2025, while new LLCs will need to file their report within 90 days of formation.
This contains similar information to that of your Articles of Organization, such as your LLC name and member information, and can be filed online for free. Failure to file an accurate report on time can result in a $500 per day fine.
Note: There are certain filing exemptions, such as for large companies (i.e., more than 20 full-time employees), tax-exempt entities, and publicly traded companies.
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Maintain Your Wyoming LLC
After you’ve successfully formed your LLC, there are a couple of steps you’ll need to periodically take in order to maintain it, including:
- Filing an annual report
- Sorting out your tax requirements
We’ve broken down how to complete each of these steps in greater detail below.
File an Annual Report
LLCs based in Wyoming will need to file an annual report and pay the associated annual license tax in order to remain in good standing. This keeps the Secretary of State’s records up-to-date with key pieces of information regarding your business, such as its:
- Principal and mailing address;
- Officer/director names and addresses; and
- Its assets located in Wyoming.
This must be filed with the Secretary of State by the first day of the month in which you formed your LLC along with a filing fee of $50 or 0.0002% of the value of all LLC assets (whichever is greater). Fees over $500 must be filed by mail at the end of the online process.
Note: The easiest way to submit your annual report is online through the Wyoming Secretary of State website.
Sort Out Your Taxes
Though Wyoming has no state-level individual or corporate income tax, you will be required to pay certain federal taxes regardless of where your LLC is registered. This includes federal income tax, employer taxes, corporation taxes (for LLCs filing as a C corporation), and self-employment taxes (for LLCs taxed as pass-through entities).
In addition, there are a number of different taxes you’ll be required to pay at a local and state level, which can vary depending on the nature of your business.
Below are some of the most common taxes in Wyoming:
Sales and Use Taxes
Statewide sales and use tax in Wyoming is imposed at a rate of 4% on the sale or lease of tangible personal property and certain services. However, since counties can also levy their own local sales taxes on top of this, your total tax rate can be as high as 6%.
You’ll need to obtain a seller’s permit (otherwise known as a sales tax license) from the Wyoming Department of Revenue before you can collect and remit this tax. You can apply for a seller’s permit online through the Wyoming Internet Filing System for Business (WYIFS).
Property taxes in Wyoming are primarily managed at a local level, with each county having its own procedures for property tax assessment and collection. As such, your LLC’s property tax bill can vary greatly depending on where it’s based in Wyoming.
To find out how much you owe in property taxes, as well as when it must be paid, you’ll need to get in contact with your county assessor. The Wyoming Department of Revenue provides a list of county assessors and their contact information to help you with this.
Steps After LLC Formation
After forming your LLC, you will need to get a business bank account and website, sort all required business licensing, and get business insurance, among other things.
Visit our After Forming an LLC guide to learn more.