How Much Does an LLC Cost in Wyoming
Think starting an LLC has to break the bank? Wyoming might just change your mind. Form an LLC in Wyoming for as little as $100.
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Here are the main costs to consider:
- Domestic LLC Formation Fee: $100
- Foreign LLC Formation Fee: $150
- Annual Report Fee: At least $60
- Business Permits & License Fees: At least $60
- Business Taxes: 10% to 37% of taxable income
- Optional Fees: Up to $3,000+
Wyoming is known for its rugged beauty and cowboy spirit. And, with its minimal fees, attractive tax benefits, and few requirements, it's a go-to haven for savvy entrepreneurs.
It's a place where forming an LLC is straightforward—and smart. The question now is, how much does it cost?
Saddle up and see how much it'll cost to set up your Wyoming LLC.
Set Up Your LLC - $0 + State Fees
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- Lifetime compliance alerts
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Wyoming Domestic LLC Formation Fee
Cost: $100[1]
To form an LLC in Wyoming, you must submit the Articles of Organization to the Secretary of State. Once the documents are approved, your LLC will be recognized as a separate legal entity.
A Wyoming LLC's Articles of Organization contain the following information, among other details:
- Name of the limited liability company
- LLC Organizer's name and contact details
- Registered agent's name and address
- Signed Consent to Appointment by Registered Agent form
You can submit the documents online or by mail. However, there's a $3.75 convenience fee for LLC documents filed online. You can pay the fees using Visa and Mastercard credit and debit cards.[2]
When filling up the Articles of Organization, you have the option to tick a checkbox that allows your LLC to be a Close LLC.[3] This means that existing members cannot sell their shares of the business to just anyone. It's ideal for family-owned businesses, but this should be discussed between you and other members first.
Wyoming Foreign LLC Formation Fee
Cost: $150[1]
If you already have an LLC in another state and want to expand your business to Wyoming, you need to register it as a foreign LLC.
To create a foreign LLC in Wyoming, you must submit a Foreign Certificate of Authority to the Secretary of State with the filing fee. Don't forget to attach a Certificate of Good Standing, which has a separate $20 fee.
If your LLC's original name is unavailable in Wyoming, you must register a trade name instead. This assumed name becomes your LLC's official business name only in Wyoming.
A series LLC has a main "parent" LLC that can create separate "series" within itself. Each series can hold its own assets, contracts, and business activities. Its main benefit is that the debts and legal issues of one series generally don't affect the other series or the parent LLC.
Wyoming LLC Annual Report Fee
Cost: At least $60[1]
Wyoming LLCs must submit annual reports to the Secretary of State each year. It shows any changes to the LLC's address, registered agent, and other details. There's a corresponding filing fee, which is also called an annual license tax.
The annual report fee or annual license tax varies depending on the total value of your LLC's assets. At a minimum, you'll have to pay $60. But if 0.02% of your LLC's total assets costs higher than that, you'll pay that percentage instead.[1]
Annual reports and fees are due on the first day of the month the LLC was formed. For example, if your LLC was formed on July 24, 2024, you need to file it on July 1, 2025.
You can file online with an additional convenience fee based on the total license tax due. However, if your annual report fee is $500+, you need to pay it in person.[4]
There are no late fees if you fail to file the annual report or pay the tax by the due date. However, the Secretary of State might close your LLC if you fail to settle everything within 60 days after the due date.
Wyoming LLC Business Permits & License Fees
Cost: At least $60[5]
Wyoming does not have a state-level general business license. Instead, the state prefers leaving business licensing requirements to local jurisdictions and specific industries.
However, businesses that sell goods, services, and other property in Wyoming must have a sales tax permit. You can apply for one with the $60 one-time non-refundable fee online or in person. There's no need to renew.[5]
Additionally, your LLC may need to get local permits like:
- Food Handler Permit - selling or handling food in any way
- Building Permit - construction and renovation businesses
- Liquor License - serving or selling alcoholic beverages
- Occupational License - professional services like dentistry and barbershop
The number of permits and licenses your LLC needs depends on its business purpose. Some businesses may be regulated by various governmental offices simultaneously. The fees may also vary per city and could be renewable yearly.
Yes, Wyoming is one of the few states that allow anonymous LLCs. The difference between a regular LLC and an anonymous LLC is that the latter's real owners are not made public. Even if you search through a government's public database, you won't be able to find any information about the owners.
Wyoming LLC Business Taxes
Cost: 10% to 37% of taxable income[6]
Wyoming doesn't have state income taxes. However, LLC members must still pay federal income taxes.
Here's how much you have to pay in taxes depending on your total taxable income:[6]
| Tax Rate | Taxable Income |
|---|---|
| 10% | $0 to $11,000 |
| 12% | $11,001 to $44,725 |
| 22% | $44,726 to $95,375 |
| 24% | $95,376 to $182,100 |
| 32% | $182,101 to $231,250 |
| 35% | $231,251 to $578,125 |
| 37% | $578,126 and up |
Additionally, LLC members must pay the 15.3% federal self-employment tax, which already covers Social Security and Medicare contributions.[7]
Did you know that the fees that you'll incur when forming an LLC can be claimed as tax deductions? You can write off the following:
Wyoming LLC Optional Fees
While the fees below are generally optional, some are unavoidable depending on your business needs.
For example, obtaining a Certificate of Good Standing is often necessary when opening an LLC bank account.
See what other costs you may need to consider below.
| Wyoming LLC Optional Fees | Cost |
|---|---|
| Registered Agent Services | $0 to $400 |
| Change of Registered Agent | $5 |
| Operating Agreement | $0 to $500+ |
| Employer Identification Number | Free |
| Name Reservation | $30 |
| Trade Name Registration | $100 |
| Statement of Correction | $60 |
| Certificate of Amendment | $60 |
| Certified Document Copy | $10+ |
| Certificate of Good Standing | $20 |
| Website Domain | $20 to $30 |
| Business Insurance Premiums | Varies |
No, Wyoming does not offer expedited services. Online filings are processed immediately, while paper filings can take up to 15 days.
Wyoming LLC Registered Agent Fee
Cost: $0 to $400
A registered agent is responsible for receiving business and legal documents on behalf of your LLC. This includes government notices, tax forms, and annual reporting forms.
Wyoming can close your LLC if you don't have a registered agent. Then, you'll have to pay $350 to re-open it.[1]
You can be the LLC's registered agent as long as you're at least 18 years old and have a physical street address in Wyoming. You must be available to receive documents during regular business hours.
Alternatively, you could hire a registered agent service to avoid putting your personal details on the public record.
In Wyoming, your registered agent can also be the LLC organizer on record. This allows you to form an anonymous LLC because you won't have to put your name in the Articles of Organization at all.
You'll need a person's written consent before appointing them as a registered agent. The consent form is attached to the Articles of Organization form.
Wyoming LLC Change of Registered Agent Fee
Cost: $5[1]
An LLC can change its registered agent's details anytime. Changes include the registered agent's name and address.
To update your registered agent's information, you must submit a Statement of Change to the Secretary of State as soon as possible.
There's a different form for registered agents who want to resign from the role. It also costs $5.
In Wyoming, a Certificate of Amendment is used to change the business name, business purpose, and other details. Meanwhile, the Statement of Change is focused solely on changes regarding the registered agent.
Wyoming LLC Operating Agreement Fee
Cost: Up to $500+
Wyoming doesn't require LLCs to have a written operating agreement, but it's still strongly encouraged to have one.
An LLC operating agreement is a legal document that details important rules for managing the LLC. It defines the roles and responsibilities of the members and helps solve any business disputes that may arise later on.
Ideally, you should already have a signed operating agreement before starting an LLC in Wyoming. But if you already formed an LLC, don't worry, you can still make one.
You can create an operating agreement for free using templates online. Alternatively, you can hire an attorney to draft it, but that can cost upwards of $500.
Without defining how to handle disagreements, resolving any conflicts that arise between members could be difficult and costly. You have to follow Wyoming's default rules, which may not always be beneficial to the business.
Wyoming LLC Employer Identification Number
Cost: Free
An EIN is a unique nine-digit number assigned by the IRS
. It's used to identify a business entity for tax-related purposes.
Single-member LLCs in Wyoming don't need to get an EIN. However, you might still need it down the line if you want to hire employees or open a business bank account.
Yes, it does. Separating your LLC's finances from personal ones is necessary to preserve its liability protection. Use a different bank account to accept payments and pay business expenses to avoid piercing the corporate veil.
Wyoming LLC Name Reservation Fee
Cost: $60[8]
If you already have a business name but aren't yet ready to form an LLC, you can reserve it first. Paying the name reservation fee will prevent others from using that name for 120 days.[8]
Business names that start with the letter "A" must submit name availability requests in person to the Secretary of State.[9]
Your application will undergo a manual review according to Wyoming's business name rules. Examples include "A.B. Coffee LLC" and "A Very Merry Christmas Shop LLC."
Wyoming LLC Trade Name Registration Fee
Cost: $100[1]
A trade name (also known as a "Doing Business As" or DBA) allows your LLC to operate under a name different from what's legally registered with the state.
Some LLCs use a DBA for branding purposes. It's also ideal if you want to use a name that doesn't have an "LLC" at the end.
You can file a trade name in Wyoming after your LLC is formed. The processing time can take up to 15 days, and no expedited service is available.
Additionally, trade names in Wyoming are renewed every 10 years and cost $50 per renewal.[1]
A trade name allows a business to operate under a name different from its legal name. Meanwhile, a trademark is an intellectual property protection that legally protects your brand name, logo, or slogan at the national level.
Wyoming LLC Statement of Correction Fee
Cost: $60[1]
After your Wyoming LLC application is approved, your next focus should be on maintaining its good standing over the long term.
Get a copy of the approved formation documents and review all the details carefully. If there are errors, like a misspelled business name or incorrect address, correct them as soon as possible by filing a Statement of Correction.
If your Articles of Organization have incorrect information, you might not receive important time-sensitive legal documents. Additionally, it could affect your ability to get a Wyoming Certificate of Good Standing.
If your LLC is in bad standing, you need to file any unsubmitted annual reports and settle outstanding fees or taxes. Then, submit a Certificate of Reinstatement along with the $100 fee to the Secretary of State to recover its good standing.[1]
Wyoming LLC Certificate of Amendment Fee
Cost: $60[1]
Your Wyoming LLC's Articles of Organization contains specific details about your business. Should these details change, you must submit a Certificate of Amendment to the Secretary of State.
You must file a Certificate of Amendment if you:
- Add, remove, or change an LLC member or manager
- Update your LLC's business address
- Modify your LLC's stated business activities
A Statement of Correction is for fixing mistakes in initial filings. Meanwhile, a Certificate of Amendment is for updating key details as the LLC evolves.
Wyoming LLC Certified Document Copy Fee
Cost: $10 + $5 and $0.15 per page over 10 pages[10]
Certified copies of documents verify that your LLC is legitimate and that its details are accurate.
You might need these for circumstances like opening an LLC bank account or expanding your LLC in another state.
Additionally, some LLCs keep certified copies of their initial Articles of Organization and Certificate of Amendment (if any) for recordkeeping purposes.
Wyoming LLC Certificate of Good Standing Fee
Cost: $0 (online) | $20 (hardcopy)[1]
A Certificate of Good Standing, also known as a "Certificate of Existence," is an official document provided by the Wyoming Secretary of State.
It verifies that your LLC is updated with all state filings and has paid all its state fees and taxes.
You might need a Certificate of Good Standing to:
- Open a bank account
- Apply for business loans
- Conduct business as a foreign LLC
- Qualify for business insurance
Business Website Domain
Cost: $20 to $30
A website domain and social media presence provide dedicated online spaces for your business. It's essential for marketing, customer engagement, and brand visibility in today's digital world.
Even if you're not planning to build a business website now, it's a good idea to at least buy the domain name. This prevents others from using your LLC's name as a web address.
Domain squatters often monitor newly registered LLC names. They purchase corresponding website domains and then resell them at significantly higher prices.
Business Insurance Premiums
Cost: Varies
All LLCs in Wyoming with at least one employee are required to get workers' compensation insurance. Once you hire employees, you must register with the Workers' Compensation Division and pay premiums, typically on a quarterly basis.[11]
Depending on your business activities, you might also be required to get other types of insurance, like:
- General liability insurance
- Commercial property insurance
- Professional liability insurance
- Cyber liability insurance
Bottom Line
To start an LLC in Wyoming, you need at least $100 to file the Articles of Organization. Annual reports are also filed yearly, with a minimum $60 filing fee.
Set Up Your LLC - $0 + State Fees
- Free business plan included (no credit card required)
- Lifetime compliance alerts
- Comprehensive name check
- Lifetime customer support via email and phone
Business Formation Service - $39 + State Fees
- Form Your LLC, Corporation, or Nonprofit Today
- A Fully-Formed Business
- Registered Agent Service
- Business Address
- Mail Forwarding
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Economy Package at $149 + State Filing Fees
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Starter - $0 + State Filing Fees
- Includes 1 optional free year of Worry-Free Compliance that renews at $199/year
- Standard filing speed
- 100% accuracy guaranteed
- Other services are available with additional costs
However, the total cost will increase depending on the additional services, documents, and licenses your LLC needs. Ultimately, it's never a bad idea to set aside an extra budget for unexpected fees.
References
- ^ Wyoming Secretary of State. Business Division Filing Fee Schedule, Retrieved 06/10/2024
- ^ Wyoming Secretary of State. Instructions to Form or Register a New Business, Retrieved 06/10/2024
- ^ Wyoming Secretary of State. Limited Liability Company Instructions, Retrieved 06/10/2024
- ^ Wyoming Secretary of State. Annual Report, Retrieved 06/10/2024
- ^ Wyoming Department of Revenue. Sales/Use Tax License Application, Retrieved 06/10/2024
- ^ IRS. Federal income tax rates and brackets, Retrieved 06/10/2024
- ^ IRS. Self-Employment Tax (Social Security and Medicare Taxes), Retrieved 06/10/2024
- ^ Wyoming Secretary of State. Limited Liability Company Application for Reservation of Name, Retrieved 06/10/2024
- ^ Wyoming Secretary of State. How to Choose a Company Name, Retrieved 06/10/2024
- ^ Wyoming Secretary of State. Certified Copy/Certificate Request Form, Retrieved 06/10/2024
- ^ Wyoming Department of Workforce Services. New Employers, Retrieved 06/10/2024
Nicole King is a research analyst at CreditDonkey, a business formation services comparison and reviews website. Write to Nicole King at nicole.king@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
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