Wyoming LLC Costs

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In Wyoming, entrepreneurs and small businesses benefit from forming an LLC. The business structure provides them with liability protection, special taxes, incentives, and a flexible management structure. Business owners sometimes believe that LLC formation is overly complicated and far too costly. However, it is a straightforward process that is affordable for most businesses.

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Costs to start an LLC in Wyoming

1
LLC Articles of Organization ($102)

2
Wyoming annual license tax ($50+)

  • You must file an annual report with the Wyoming Secretary of State.
  • The annual fee, or a license tax, is 0.0002% of the value of all of your LLC’s assets.
  • You will file your annual report online using the Wyoming SOS Business Center.
  • The LLC’s annual report is due each year on the 1st day of the company’s anniversary date.
  • Failure to file your Wyoming annual report may result in loss of good standing and involuntary dissolution.

3
Wyoming registered agent fee (varies between $50 to $300)

  • Wyoming requires you to appoint a registered agent if you plan to form an LLC in the state.
  • When you appoint a registered agent, you are letting the Wyoming Secretary of State that someone is available during business hours to accept correspondence, tax notices, and subpoenas.
  • Wyoming allows anyone to act as a registered agent as long they meet the state requirements. That includes you or another owner within your LLC.
  • The total LLC cost for a registered agent in Wyoming will vary depending on the appointed service, the need of the LLC, and the state filing fees.

4
Fees to form a foreign LLC in Wyoming ($100)

5
LLC name reservation fee ($50)

  • Wyoming does not require you to reserve an LLC name in the state before formation.
  • But, when you reserve a name in Wyoming, you are ensuring no one else can register the same one.
  • An LLC name in Wyoming must be unique and distinguishable from any other company name in the state.
  • The LLC reservation is valid up to 12 months before formation.
  • You will complete the Limited Liability Company Application for Reservation of Name and submit it by mail to the Secretary of State.
  • The cost to reserve an LLC name in Wyoming is $50.

6
DBA filing fees in Wyoming ($100)

  • The acronym DBA stands for ‘doing business as.’ A DBA, or an assumed name, is a registered name that a person or business uses to operate under that is not its legal name.
  • In Wyoming, an LLC does not have to register a DBA. However, registering a trade name ensures no other company can use the same one.
  • A DBA name in Wyoming must be unique and available for use.
  • You will complete the Application for Registration of Trade Name and submit it by mail to the Wyoming Secretary of State.
  • The cost to register a DBA in Wyoming is $100.

7
Cost of certified document copies ($10)

8
Wyoming Certificate of Good Standing ($10)

  • Financial institutions and money lenders will require you to submit a copy of your Wyoming Certificate of Good Standing before allowing you to open a business bank account.
  • You will use the Wyoming SOS Business Center to order a Certificate of Good Standing.
  • The filing cost for a Certificate of Good Standing is $10.

Steps to start an LLC in Wyoming

1
Choose a business name

When choosing a Wyoming LLC name, you will need to consider a few things.

  • A Wyoming LLC name must be unique, distinguishable from any other company name, and available for use in the state.
  • Your LLC name must meet all Wyoming naming requirements.
  • To keep branding simple, it is best to check for web domain availability for your LLC name.

You will use the Wyoming Secretary of State Business Center to conduct a name search.

LLC name reservation fee

Wyoming does not require the reservation of an LLC name before formation.

You can reserve a Wyoming LLC name by submitting the form online or by mail. The reservation is good for up to 12 months before formation.

The cost to reserve a company name in Wyoming is $50. An LLC name is good for up to 12 months. Wyoming does not require you to reserve an LLC name.

2
Appoint a Wyoming registered agent

You must appoint a registered agent in Wyoming if you form an LLC in the state.

The price for a Wyoming registered agent or service varies between $50 and $100 a year. The cost depends on the state and your LLC needs.

A registered agent in Wyoming is an individual or business entity that receives tax forms, legal documents, subpoenas, civil notices, service of process, and other official government correspondence on behalf of a sole proprietorship, corporation, or LLC.

The registered agent you choose must be a Wyoming resident or a registered agent service authorized to conduct business in the state.

ZenBusiness

  • Starter Plan – $39 a year plus State Fees
  • Pro Plan – $149 a year plus State Fees
  • Premium Plan – $249 a year plus State Fees

ZenBusiness has a stand-alone registered agent service for Wyoming LLCs. The price is $99 per year.

Northwest

  • Total Out The Door Wyoming LLC Formation Service Package – $45 a month and includes:
    • Wyoming State Fee
    • Filing Service Fee
    • Registered Agent
    • Tax ID
  • Annual Plan – $225 plus State Fees a year

LegalZoom

  • Economy – $79 plus $153 Wyoming filing fees
  • Standard – $329 plus $153 state filing fees
  • Express Gold – $349 plus $255 state filing fees

3
File Wyoming Articles of Organization

You will file your Articles of Organization with the Wyoming Secretary of State.

You can file the Articles of Organization online using the Wyoming SOS Business Service Portal.

Or, you complete the LLC Articles of Organization form and submit it by mail.

The LLC cost to file Wyoming LLC Articles of Organization is $100.

Wyoming does not offer any expected LLC services.

Mailing address:
Wyoming SOS
2020 Carey Avenue
Suite 700
Cheyenne, WY 82002

The Articles of Organization form will ask for specific information.

  • LLC name
  • LLC address

The fee in Wyoming for filing your LLC Articles of Organization is $100.

4
Get a Wyoming LLC EIN

An Employer Identification Number, or EIN, can also be referred to as a Federal Employer Identification Number (FEIN) or Federal Tax ID Number (FTIN).

An EIN is a 9-digit number that the IRS issues free to LLCs. It acts as a Social Security number for companies for income tax purposes.

If you are converting a sole proprietorship to an LLC in Wyoming, you will need to apply for an EIN.

Applying for an EIN is a simple process online through the IRS website.

Business banking for a Wyoming LLC

It is advised that you open a business bank account that is separate from your personal bank account. It protects your personal assets and future credit scores.

A bank will require you to submit a copy of your Articles of Organization, operating agreement, and EIN before letting you do business banking.

Business banking accounts are generally free, and do not have additional charges or fees.

Business attorney fees in Wyoming

When you retain a business attorney, you are keeping the LLC formation process simple. And you have someone available to handle future business-related issues.

Most of the time, Wyoming business attorneys offer first-time clients free consultations.

Professional services such as LegalZoom and Rocket Lawyer offer LLC formation packages that include comprehensive legal services.

On average, a business lawyer in Wyoming will cost $300 per hour.

LLC taxes in Wyoming

  • In Wyoming, an LLC is considered a pass-through entity. An owner will file personal taxes rather than the LLC’s tax returns.
  • You must register for a Wyoming seller’s permit when you sell physical products in the state.
  • The Wyoming state tax rate is 4.00%, and the max local and county rate is 2.00%.
  • You will register for the Unemployment Insurance Tax with the Wyoming Department of Workforce Services.
  • When you hire a tax expert, you help to avoid missed deadlines, penalties, and possible dissolution.

Business licenses and permits in Wyoming

The overall cost for business licenses and permits in Wyoming varies depending on where the LLC is located and the type of business it is.

You will use the Wyoming Secretary of State Business and UCC portal to find the necessary licenses and permits.

A business licence in Wyoming varies between $50 to $300. The total cost of permits and licences will depend on where your LLC is, and the type of LLC.

Local government agencies in Wyoming will have different processes and rules for licenses. You will want to contact the office to inquire about the process, price, and office hours.

Notary public

You may find that some LLC documents in Wyoming require a notarization from a notary public.

If you cannot locate one, most government agencies have one in the office.

According to Wyoming state law, a notary public can only charge a max of $5 per act.

Employer obligations in Wyoming

Benefits of a Wyoming LLC

  • You keep business banking simple when you form an LLC in Wyoming. Financial institutions will require you to open separate personal and business bank accounts because it protects you from future liability.
  • LLCs have different compliance requirements than other business structures. Incorporations answer to shareholders and stock owners, while LLCs do not.
  • An LLC is a pass-through entity in Wyoming. LLC owners file personal tax returns rather than the company’s tax return.
  • When you form an LLC, it helps to avoid further double-taxation. C-corporations are double-taxed while LLCs are not.
  • The cost of forming an LLC in Wyoming is affordable. It only costs $102 and does not have biennial or annual report fees.
  • Wyoming does not impose a state or business tax on LLCs.

FAQs

How long does it take to register an LLC in Wyoming?

The state of Wyoming processes online LLC registrations immediately. If you file by mail, it will take 10 to 15 business days.

Wyoming does not offer any expected LLC services.

How do I dissolve my Wyoming LLC?

You will want to dissolve your LLC in Wyoming to avoid ongoing costs and state fees. You can file Articles of Dissolution online or by mail with the Wyoming Secretary of State.

The cost of LLC cancellation in Wyoming is $100.

Does Wyoming have an annual franchise tax?

The annual license tax acts as the annual franchise tax in Wyoming.

Does Wyoming have a publishing requirement?

Wyoming does not have any publishing requirements for LLCs in the state.

Do I need a business operating agreement for my LLC in Wyoming?

Wyoming does not require you to submit an operating agreement to the Secretary of State. However, having one on file can reduce the chances of future misunderstandings.

An operating agreement can be oral or written as long as it is in the company’s files.

Can I take money out of my LLC in Wyoming?

Single-member LLC owners are not paid wages or a salary. Instead, they would pay themselves from the LLC profits. The practice is called an owner’s draw.

In Wyoming, writing a personal check from your business bank account is legal to transfer money.

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