The first version of the statutes allowing for the formation of limited liability companies in Wyoming was passed in 1977.Changes in the laws have made it more attractive to establish a business through a limited liability company.You can establish an limited liability company in Wyoming without an attorney if you organize your information before you file.
Step 1: Pick a name for the company.
The brand of your business is your name.It's important that you give potential customers a sense of your products and services.You have to have a distinctive business name in order to register your company with the state.You can perform an online search with your name and state.You can see the other businesses with the same or similar names across the state.You can change your proposed name with this information.If there are already 11 "Grandma's Cupcakes," why would you want to be one of a dozen instead of being unique?If another business has claimed your proposed name, enter it in the state's business entity search engine.To see the names of your competitors, do several searches with yourKeywords such as "cupcakes".This will help you with the name of your business.One of the following must be included in your business name in Wyoming.The company is called Liability Company.No one form is preferred over the other.It's best to use the designation that works best with your company name, logo, and overall brand.
Step 2: You can use an email address for your business.
The Wyoming Secretary of State wants to know your email address.You can use this email address to send certificates of registration and reminders of annual reports.An email address for your business is separate from the general business of your company.If you have an email address reserved for your company's legal correspondence, you can be sure that an announcement from the state won't get lost in the email.If you have your own email server, you can use a web-based service like Gmail to create "legal@myawesomebusiness.com."
Step 3: The members should be selected.
The owners or partners are called members.Wyoming does not forbid single-member limited liability companies, but they are discouraged.A Wyoming limited liability company may have two or more members.If you want to form a single member limited liability company, you need to talk to a tax professional to see if the benefits are worth the extra expense and reporting requirements.The business earning through tax returns must be accounted for by all members of an limited liability company.Members can be named in lawsuits.Unless he is willing to comply with the legal and financial responsibilities, don't add someone as a member.If you have any family members that are not yours, consider forming a close company.All of the members are family, the business is family operated, and the assets, such as property, equipment, farms, rental property and financial accounts, are all in the name of family.The statute covering Close LLCs was enhanced by Wyoming in 2002.In the event of a death or divorce within the members list, the law works to conserve family assets.If your business qualifies for the added protections of a Close LLC, you should consult a tax professional or business attorney.
Step 4: There is a registered agent for your limited liability company.
There are strict rules for registered agents in Wyoming.The person who is listed in the public record as the one authorized to receive service of process and other legal documents is your agent.It is possible for you to be your own registered agent, however, you need to meet the narrow rules of the statute.The agent needs to be present at the address during business hours.It's not possible to close the business for vacations, illness or other reasons if you have a continuous presence.The documents needed to register your company with the state must be signed by the registered agent.Commercial registered agents can be used because of the strict requirements.No matter if your business is open or not, these companies will accept legal process for you.If you are sued, the company's address becomes your public legal address and you won't have to deal with process server or sheriff deputy showing up at your office or home.The Wyoming Secretary of State has a list of commercial agents that have complied with state law.You have to research and contact a prospective agent to make sure you feel comfortable working with them.Check the address, hours of operation, how they contact you if legal documents are received, and the cost when contacting an agent.This should be deductible as a business expense.It will cost under $100 per year for the service.
Step 5: You need to apply for an employer identification number.
An EIN is a number that is issued by the IRS and is used as a legal identification number for your company.It doesn't add anything to your reporting requirements if you receive an EIN.If you don't intend to hire employees, your EIN is the number that will appear on your tax returns.If you ever have to supply tax refunds for loan or grant applications or in court, having an EIN shields your private Social Security number.You can apply for an EIN by mail or on the IRS website.
Step 6: The articles of organization should be completed.
You may have a partnership or member agreement with this form.The Wyoming Secretary of State requires you to fill out the Articles of Organization form.You can either fill out the form online or print it out and complete it by hand.Write the information in dark ink if you want to fill it in.You could lose all or part of your filing fee if your application is refused.The name of the company, physical address, mailing address and phone number must be shown in the Articles of Organization.The contact person is not the same as the signer.You need to designate a registered agent at this time.The consent form that must be completed by your agent is a critical part of your application.This consent is needed if you or another member will be acting as a registered agent.Your signature shows you are in compliance with the requirements of a physical address.Follow the company's procedure if you use a commercial agent.
Step 7: If you want your business to be certified, file for it.
The registration is done by mail.There isn't an online application form.The application must include the original signed Articles of Organization, a copy of the signed consent of registered agent, and a filing fee of $100.Mail the completed application to the Secretary of State at the address listed on the form.3 to 5 business days are typical for processing.In-person or expedited processing service is not offered by Wyoming.The receipt of your application will be confirmed by email.The effective date is the filing date.The filing date of your reports is affected by this date in your calendar.
Step 8: The annual report should be filed by the company.
You have to file your annual reports to maintain your registration.On the first day of the anniversary month, your annual report will be due.The first annual report will be due on July 1st of the following year if your filing date is July 22nd.You can either file it online or print it out.The income tax reporting requirements are not related to the annual report.There is a separate report filed with the Secretary of State.The annual report fee is based on the company's assets located and employed in the state of Wyoming.There is a fee to file online.If you have a question about how to calculate the annual report fee, you can contact the state.
Step 9: Check for permits and tax requirements.
If you sell goods or perform services within the borders of Wyoming, you must collect and submit sales tax to the state.You can consult with a tax professional or the Wyoming Department of Revenue.
Step 10: Keep your business information up to date.
You must file an amendment to the articles of organization if you change the nature of your business.Within 30 days after the change, amendments should be filed by mail.You can file an amendment if you have more than one change, for example a new contact person and phone number.The original signed amendment and one photocopy must be accompanied by a $50 fee.The change of address form can be used to change the physical or mailing address of your limited liability company.You need to submit a "Statement of Change by Business Entity" and a new agent consent form if you change agents.You don't have to pay to file this change with the state.Within 5 business days of the change, this change should be filed.
Step 11: A certificate of good standing is required.
A certificate of good standing is an acknowledgement by the state that you are current with the requirements.It is possible that this certificate is required for loan applications, permits, or other programs.You can find it online from the Secretary of State.There is no cost to get a certificate of good standing.
Step 12: It's time to close your company.
If you close your business or sell it, you have to close it with the state.If you don't formally dissolved the company, you will still have to pay taxes and incur financial penalties.The Articles of Dissolution is a single page document signed by the member authorized to close the company.You have to pay a $50 filing fee and mail one signed original and one photocopy to the state.To close out your account, you must contact your registered agent or commercial agent.