How to Obtain a Resale License in Wyoming

Starting a business in Wyoming? If you intend to sell products or services, you’ll probably need to get a resale license. You are able to collect sales tax from clients and send it to the state with the help of this license, which is also known as a sales tax license. We’ll go over the procedures in this post for obtaining a resale license in Wyoming.

You must register your business with the Wyoming Department of Revenue in order to get a resale license. This can be done by mail or online. You will need to supply basic information about your company, like your business name, address, and tax identification number, as part of the straightforward registration procedure.

You must submit an application for a sales tax license after your business has been registered. This can also be done by mail or online. The application will ask you for details on the kinds of products or services you plan to sell as well as the places where you plan to do so.

The Wyoming Department of Revenue will review your application once you’ve filed it and might need more details or supporting paperwork. You will receive your sales tax license after your application is granted, and you should prominently display it in your place of business. Do You Need to Be a Wyoming Resident to Start a Business? No, you don’t have to reside there in order to launch a business there. Wyoming has no state income tax or franchise tax and is renowned for being a business-friendly state. Due of this, it is a desirable place for company owners to establish and run their enterprises.

Wyoming LLCs provide a high level of privacy and asset protection, yet they are not entirely anonymous. Wyoming is one of the few states that permits the formation of anonymous LLCs, meaning that the owners’ names are kept private. Instead, a third party registered agent, who is also designated as the owner, is used to register the LLC.

The formation of many series within a single limited liability corporation is possible with a series LLC. Each series may have its own resources, obligations, and participants. Currently, 14 states—Delaware, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, Nevada, North Dakota, Oklahoma, Tennessee, Texas, Utah, and Wisconsin—allow the formation of series LLCs.

A closely held corporation is not an LLC. Although they both provide liability protection, the two types of entities have different structures. A corporation that is owned by a small group of stockholders, frequently family members or close friends, is referred to as a closely held corporation. An LLC, on the other hand, is a legal entity that is owned by either other LLCs, corporations, or an unlimited number of individuals.