How Much Does It Cost to Register a Business in Wyoming?

Depending on the kind of business entity you select, Wyoming’s business registration fees change. The filing fee for a limited liability company (LLC) is $100. A $2 processing fee is added if you want to file online. The filing charge for a corporation is $100, although there is an extra $2 processing fee for online filings.

Wyoming requires that businesses file an annual report in addition to the filing fees. The yearly report fee for an LLC is $50. A corporation must pay a $50 yearly report fee in addition to a franchise tax equal to 0.0002 times the value of its Wyoming-based assets.

You might be asking at this point if Wyoming needs a business license. The short answer is no, business licenses are not mandated statewide in Wyoming. However, it’s crucial to check with your local government to determine if any additional licenses or permits are required as certain towns and counties can demand a local business license.

Now let’s talk about the tax implications of forming a business in Wyoming. LLCs are not subject to state taxation. Instead, LLCs are regarded as pass-through entities, which means that the business’s gains and losses are distributed to the individual owners for personal taxation.

And finally, you might be curious about the anonymity of a Wyoming LLC. Yes, Wyoming does permit anonymous LLCs, which means that the names of the members and managers need not be disclosed in public records. Wyoming instead permits the employment of a registered agent, who can add an extra degree of privacy for the business owners.

In conclusion, Wyoming’s $100 filing fee for LLCs and corporations makes it comparatively inexpensive to form a business compared to other states. A statewide business license is not necessary in Wyoming, but local licenses can be needed. LLCs are not subject to state taxation, whereas corporations are subject to an 8.5% flat tax and are eligible for a tax credit for adding new jobs to the state’s economy. Wyoming additionally permits anonymous LLCs, ensuring the owners of the firm have privacy.