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Why You Should Incorporate in Wyoming

Wednesday, July 26th, 2017

For a long time, people have looked at Wyoming as the ideal state to form a company. Limited liability companies (LLCs) have existed in Wyoming longer than in any other state, so Wyoming has the most experience and the strongest legal system for protecting LLCs.

Why You Should Incorporate in Wyoming

Wyoming is one of the most cost effective states to incorporate in and to maintain an LLC. Wyoming state fees for LLCs are some of the lowest in the nation. For example, compared to Nevada, you pay 65% less in filing fees in Wyoming. Wyoming also has no state corporate income tax or public listing of the names of members or managers in an LLC. The law helps you lower tax liability in your home state, helps to increase your asset protection, and provides more privacy for owners and members of the LLC. For those reasons (and the others listed below), Wyoming is one of the best choices to incorporate an LLC in.

Main reasons:

  • One of the most cost effective states to incorporate in and to maintain
  • Lower LLC state fees and other expenses – Wyoming is about 65% cheaper to incorporate in than Nevada
  • No business licence fees or officer filling fees – For example, in Nevada – state business license fee- $500/year, $125 officer filling fees, $150 filling fee (based on issued shares)
  • Lower state renewal fee, mostly $50 (92% less than in Nevada)
  • No state corporate income tax
  • No state individual income tax
  • No public listing of the names of members or managers in an LLC (increased privacy)
  • No nominee officers needed

Plus:

  • No share certificates required
  • Continuance procedure (allows Wyoming to adopt a corporation formed in another state)
  • Wyoming law helps you lower your tax liability in your home state, which helps to increase your asset protection
  • Clear conditions – no room for interpretation of Wyoming LLC law

To be an owner or a part owner of a C-Corporation or LLC, there are no citizenship or residence requirements. The only limitation for non-US citizens is that they cannot start or own an S-Corporation.

2017 State Business Tax Climate Index – https://taxfoundation.org/publications/state-business-tax-climate-index/