How to start a Wyoming LLC

By Bazal Razzaq

Chief Editor

Updated: September 26, 2023, 12:30pm

Editorial Note: We earn a commission if you use the services recommended on this page. Commissions do not affect our opinions or recommendations.

Wyoming LLC

The State of Wyoming joined the Union of States on 10 July 1890. It was previously accepted as a territory in the state in 1868 and continued to be the same until 1890. An ‘Equal Rights’ promoter, Wyoming was the 44th state to join the union amongst the 50 states. The ‘Cowboy State’ has many options for anyone wanting to open an LLC and do business in Wyoming. While having to comply with the norms, there are other things that one needs to consider before opening up an LLC in the State of Wyoming.

If you are one of those who want to start an LLC in the State of Wyoming, then all you need to do is follow specific policies and procedures, and you will be able to open your business hassle-free. It would open up a sea of opportunities for you, and those in the state would have an opportunity to work for your esteemed LLC. Now that we have things figured out that you want to start an LLC let’s go through the fine print of what needs to be done to make it a reality. Let’s dive in:

#1 Pickup A Name For Your Wyoming LLC

The first step towards starting your LLC is picking a name for your business. Your LLC name would need to have the words ‘Limited Liability Company,’ LLC or L.L.C. It should not be coinciding with any word in the Federal, Treasury, or State Department name.

It is necessary to keep in mind that your LLC name should be different from other LLCs, LLPs, LPs, or a corporation in the state. You can do a Business Entity Search on the Wyoming Secretary of State website.

#2 Pick A Registered Agent For Your Wyoming LLC

With the first step taken care of, the next step is to pick a registered agent for your Wyoming LLC. You would need to pick a person or a business entity in the State of Wyoming to be the registered agent for your Wyoming LLC. You can also pick someone from your business to be the registered agent.

This individual or business entity must be registered in Wyoming, as they will be responsible for your business’s communication, federal and state taxes, and other communication that may be deemed necessary.

#3 File The Articles Of Organization For Your Wyoming LLC

The Articles of Organization are an important document and must be filed with the Wyoming Secretary of State before you commence business. Along with the aforementioned, you are required to file a Consent to Appointment through your registered agent, which is already included in Wyoming’s formation PDF.

You will have to check at this stage if your business will be manager-managed or member-managed. The cost to file Articles of Organization is $100 by mail and $102 if you file it online. These are payable to the Secretary of State and are non-refundable. You can send it to the appended address in case of an offline filing.

Wyoming Secretary of State

2020 Carey Ave.

Suite 700

Cheyenne, WY 82002

#4 Generate An Operating Agreement For Your Wyoming LLC

The State of Wyoming doesn’t require an operating agreement to run a Wyoming LLC, but it’s always a good idea to have one for your personal reference. It puts everything in place and gives everyone the understanding of what is expected out of them in the long run to run the business.

It helps everyone around the business understand the ethics, policies, and procedures that would be required to run your day-to-day business operations. This serves as the standard bearer for your business

#5 Apply For A Wyoming LLC EIN

This helps in understanding the business entity in the State of Wyoming and serves as a Social Security Number (SSN) for the business. You can apply for the same through the IRS for free.

It would help you open a business bank account for your company. You will be able to keep track of your federal and state taxes in one place and will be able to hire employees for the organization. Application for the same can be submitted online and offline. The offline address for the same is:

Internal Revenue Service

Attn: EIN Operation

Cincinnati, OH 45999

Fax: (855) 641-6935

#6 File The Annual Report For Your Wyoming LLC

The State of Wyoming requires LLCs to file an annual report with the Secretary of State and pay an annual license tax. It must be filed online by the first day of the month when you formed your LLC.

The filing charges are $50 or 0.0002% of your LLC’s assets (whichever is greater). In case the overall cost goes beyond $500, then you need to file the same via mail after completing the online process.

#7 Comply With The Laws Of Wyoming For A Wyoming LLC

A Wyoming LLC is required to comply with federal, state, and local norms. The fees and requirements will vary depending on the kind of business license that you would require for your business.

Sales Tax

In case you are selling a product that is physical in nature, then you need to register for a seller’s permit by visiting the Wyoming Department of Revenue website. The base sales tax is 4%, but counties and cities can add an additional local sales tax of up to 2%.

Employer Tax

If you are hiring people in the State of Wyoming, then you would need to register yourself for Unemployment Insurance Tax with the Wyoming Department of Workforce Services. There are other taxes, too, and you need to know about them by reading through the piece.

Income Tax

There’s no individual income tax in the State of Wyoming. You would still need to file your federal income tax using Form 1065 and Form 1040 Schedule C for multi-member and single-member LLCs, respectively.

#8 Hire Employees For Your Wyoming LLC

As a business, you are required to ensure that your employees are eligible to work in the United States. You would have to report employees as ‘new hires’ to the state. Along with the aforementioned, you will need to provide workers’ compensation insurance to your employees.

LLCs are required to withhold employee taxes and print workplace compliance posters that would be displayed at every space in your workplace to identify your space as a business in the State of Wyoming.

Frequently Asked Questions​

It is instant after you make the online payment and submit your articles of organization online. In the case of an offline process, it takes five to seven business days to form an LLC.

The cost to start a Wyoming LLC is $100 by mail and $102 online. You can submit the details accordingly, and the information will be processed according to the timelines.

The minimum wage offered to employees is $7.25 per hour. The employees are required to be paid higher than this amount.

The State of Wyoming requires you to pay the employees bi-monthly. It is non-negotiable and must be adhered to at all times.

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