Wyoming LLC Cost – How Much Will Incorporating There Cost You?
Establishing an LLC in Wyoming is more than just the initial paperwork and fees. Fortunately, you don’t have to break the bank either! Here we provide detailed information on both first-time and continuing costs of a Wyoming LLC while also offering money-saving tips. Let’s get started!
Are you ready to start an LLC on your own? But not sure where to begin? Take a look at our easy step-by-step guide on how to start your own LLC in any state.
- Hire Professionals to Create a Wyoming LLC (from $0 + state fees)
- Quick Costs for Wyoming LLC Breakdown & Best Options
- Pros and Cons of Starting Your Own LLC in Wyoming
- How Much Does an LLC Cost in Wyoming?
- Other LLC Filing Costs (Optional)
- Cost of Filing Formation Certificates
- Wyoming Business License and Permit Fees (varies)
- LLC Taxes (varies)
- Costs Change Often. Where Can I Find the Most Up-to-date Cost & Tax Info?
- How to Start an LLC in Wyoming?
- Hire Professionals to Form an LLC in Wyoming For You
Quick Costs for Wyoming LLC Breakdown & Best Options
|Who forms the LLC?||Total fees|
You form the LLC in Wyoming Yourself
|$200 = ($102 Articles of Organization + $50 Annual License tax + $50 Name reservation)|
|by using ZenBusiness||$0 + state fees|
|by using Northwest Registered Agent||$39 + state fees|
|see our best-rated LLC service providers||varies|
Pros and Cons of Starting Your Own LLC in Wyoming
Here are some Pros and Cons for all Business Owners and Starters to go through before deciding to start their own LLC in Wyoming.
Wyoming is an ideal state to form a business. Though limited liability companies (LLCs) are recognized in all 50 states, Wyoming offers numerous benefits when it comes to forming your own LLC.
These three reasons make Wyoming an attractive choice for entrepreneurs interested in starting their own LLCs.
However, it is important to understand that there are multiple potential downsides.
In conclusion, these two cons should be carefully weighed against any potential advantages before moving forward with forming your LLC in Wyoming.
How Much Does an LLC Cost in Wyoming?
Wyoming LLC Online Filing Fee ($102)
The main cost to start an LLC is the $102 fee to file your LLC’s Articles of Organization online with the Wyoming Secretary of State.
Wyoming Annual License Tax ($50+)
In Wyoming, LLCs are required to submit an annual report and pay a yearly license tax—either $50 or 0.0002% of the total value of their assets (whichever is higher). To complete this process online, sums over $500 must be sent by mail at the end.
Foreign Wyoming LLC Fees ($100)
If you want to extend your LLC operations into Wyoming, but it’s registered in another state, registering as a foreign LLC in the Equality State is essential. At only $100, filing an Application for Certificate of Authority not only allows you to expand your business endeavors and stave off hefty taxes – but gives you peace of mind knowing that all regulations are being fulfilled.
Wyoming Registered Agent Fee ($39 or $125/year)
When establishing an LLC in Wyoming, you must assign a Registered Agent. This is the individual or business entity responsible for accepting legal documents and state notifications on behalf of your LLC. Your Registered Agent should have a physical address within the state and be readily available during regular work hours.
There are no additional fees incurred if you serve as your own registered agent, or enlist someone else to take on this role.
Here are our recommended Agent service providers:
- Northwest Registered Agent service is the perfect choice for those seeking to establish a new business and gain access to a registered agent, with a full LLC creation package starting at only $39 + state fees.
- When you only require a professional registered agent service, Northwest is the perfect solution. Their exceptional RA service comes at an unbeatable price of $125/year!
LLC Operating Agreement Fee ($0)
An Operating Agreement for a Wyoming LLC is an indispensable document that outlines the ownership and management of the LLC, as well as how profits will be distributed. Whether your business is single-member or multi-member, it’s imperative to create this agreement and keep records on hand; also make sure each Member has their own copy. While most websites require you to pay up to $200 for these Agreements, we offer them at no additional cost!
LLC EIN Number Fee ($0)
Are you looking for a way to get an Employer Identification Number (EIN) or Federal Employer Identification Number (FEIN) without paying hefty service fees? Well, you’re in luck! The Internal Revenue Service (IRS) offers the perfect solution – it’s free and only takes minutes to fill out their online form. EIN number is also essential for your Business bank account.
You can use your EIN number to file income taxes, open an LLC bank account and hire employees if applicable. So don’t waste any more time – take advantage of this cost-effective option today!
Other LLC Filing Costs (Optional)
There are optional fees associated with LLC formation:
LLC Name Reservation ($50)
Secure your desired business name for up to 12 months in advance of forming an LLC by filing the Application for Reservation of Name and paying a nominal fee of $50.
“Doing Business As” (DBA) Name ($100)
If you wish to create a distinct name for your LLC business other than its legal title, file an Application for Reservation of Trade Name and pay the required filing fee of $100.
Cost of Filing Formation Certificates
|Wisconsin||Domestic LLC||Foreign LLC|
|Annual License Filing||$50+ up to $500||$50+ up to $500|
|Name Reservation fee||$50||$50|
|By Mail||By mail: Fill out the Application Form PDF, and submit it to the following address: Wyoming Secretary of State, Herschler Building East, Suite 101, 122 W 25th Street, Cheyenne, WY 82002-0020. Costs $100||By mail: Fill out the Application Form PDF, and submit it to the following address: Wyoming Secretary of State, Herschler Building East, Suite 101, 122 W 25th Street, Cheyenne, WY 82002-0020. Costs $150|
Wyoming Business License and Permit Fees (varies)
Depending on your LLC’s location and the industry you are in, you might need to obtain additional Business Licenses or Permits. Anything from a City Business Permit down to state-level licenses may be required of you – but don’t worry: usually, these fees are not too high! Some are issued by municipal authorities (such as your town, city, or county) while other permits come straight from the state itself.
LLC Taxes (varies)
Owning a Wyoming LLC is associated with various types of taxes that change every year. Therefore, the annual tax cost will vary significantly depending on the type of LLC you have.
Some of the taxes LLC owners pay include:
- Federal taxes
- State income tax
- Business Insurance taxes
- Self-employment taxes
- Sales tax
- Payroll tax (if you have employees)
It is difficult to predict the exact taxes your Wyoming LLC will have due to varying tax rates for different industries and amounts of business activity. Every company has diverse needs that determine what tax obligations apply, so it’s essential to consult with the Wyoming Department of Revenue for specifics about corporate income taxes and which forms you must use.
Costs Change Often. Where Can I Find the Most Up-to-date Cost & Tax Info?
If you need any further information about the expenses associated with creating a Wyoming LLC, don’t hesitate to reach out and contact the Business Division of the Wyoming Secretary of State
How to Start an LLC in Wyoming?
Once you’ve taken a detailed look at the Fees and Costs of LLC in Wyoming. It is time to start your own LLC, with these basic steps you can form your own LLC in Wyoming easily.
And if you want to know all the steps broken down in detail — see our Wyoming LLC formation guide here.
Step 1: Choose a Name for Your LLC
As mandated by Wyoming state regulation, Limited Liability Companies must be named using the words “Limited Liability Company,” or abbreviations like “LLC” and “L.L.C.,” in addition to alternative phrasing such as “Limited Company” (or its abbreviation LC/L.C.) Alternatively, Low Profit SMLLCs should include the likes of phrases including “Low Profit Ltd. Liability Company,” and their corresponding abbreviations such as L3C and l3c for easier recall amongst consumers.
To ensure your LLC is distinct from any other business entities registered with the Wyoming Secretary of State, make sure to read their guide How to Choose a Company Name. Additionally, you can double-check if the name you have chosen is available by using the Wyoming Secretary of State’s business name database.
By submitting an Application for Reservation of Name to the Wyoming Secretary of State, you can protect your desired name for a period of 120 days. All reservations must be sent by mail and come with a filing fee of $50.
Step 2: Appoint a Registered Agent
If you are forming a Wyoming LLC, it is mandatory to appoint an agent for the service of process; this means that the designated person or entity agrees to accept legal documents on behalf of your company if necessary. The appointed registered agent can either be a resident in Wyoming or any business authorized to do business there. Notably, such individuals must have a physical address located within the state.
Step 3: File Articles of Organization
If you are looking to establish a Wyoming Limited Liability Company, the first step is filing your Articles of Organization with the Secretary of State.
Step 4: Prepare an Operating Agreement
Wyoming does not require an LLC operating agreement, however, it is highly recommended. This internal document serves to create a legal framework for your LLC’s operations which clarifies the roles and responsibilities of members and managers alike. Not only can this help maintain your limited liability status but also allows you to actively establish how your business will be run instead of defaulting to state law. By having an official operating agreement in place, you are taking proactive action toward success!
Step 5: Comply With Tax and Regulatory Requirements
Your LLC may need the consideration of extra tax and regulatory requirements, such as:
- Business Licenses
- Department of Revenue
Step 6: Annual Report
If you’re a Wyoming LLC or foreign LLC registered to conduct business in the state, filing an annual report with the Secretary of State is mandatory. Furthermore, each company must pay an annual report license tax amounting to either $50 or two-tenths of one mill on the dollar ($.0002) depending on their assets used and employed within Wyoming – whichever option yields greater results!
You may choose to file your report and tax online or by mail. The report and taxes are due each year on the first day of the anniversary month that your LLC was formed – for example, if you created an LLC on June 15th, then it is required to pay its annual taxes every June 1st. If these payments have not been made within 60 days from their due date, unfortunately, dissolution/revocation will take effect.
Hire Professionals to Form an LLC in Wyoming For You
It can be difficult and time-consuming to form a Wyoming LLC all by yourself.
That’s why we decided to give you a few of the best options for professional services that can help you start an LLC in no time & with 0 effort!
#1 – Create an LLC in Wyoming Using Northwest Registered Agent
Northwest has vast experience in creating LLCs and Corporations. They by far have the best support and client satisfaction rate. We’ve used and tested them ourselves and can guarantee that they’ll do an exceptional job for you.
You can read our extensive Northwest Registered Agent review here.
Review count: 4850+
Form an LLC today with Nortwest. They have 98% customer satisfaction rating and over 4150+ verified reviews. They will include 1 year of free registered agent service!
#2 – ZenBusiness Will Form an LLC in Wyoming For You
ZenBusiness is one of our top-rated LLC services as well. They have a super value-to-price ratio. And it’s perfect for those who are looking for the cheapest option to form their LLCs. When we tested their service — they’ve done a great job, so we can honestly recommend them.
To know more about them — read our ZenBusiness review here.
$0 + State Fees
Review count: 4830+
Form an LLC today with ZenBusiness for only $0 + State fees. They Have 98% customer satisfaction rating and over 4830+ verified reviews.