Description

What is a Wyoming LLC?
A Wyoming LLC is a Limited Liability Company formed in Wyoming and governed by Wyoming statutes. The Wyoming LLC is a business entity that is a hybrid of corporations and partnerships. Wyoming LLCs use the tax structure of partnerships and the limited liability features of corporations. Combining these elements into one legal entity has helped make the LLC the most widely-used business structure in America.

Advantages of Wyoming LLCs:
Limited Liability and Asset Protection
Limited liability protection is the cornerstone of every Wyoming LLC. Each LLC formed in Wyoming is protected by tough, business-friendly statutes. What’s unique to Wyoming is that these protections even extend to single-member LLCs in Wyoming, as outlined in the Wyoming Limited Liability Company Act (§ 17-29-503).

Privacy
You are not required to list the personal details of the LLC’s owner(s). This helps to ensure business privacy and personal security, as well as reducing the amount the solicitor phone calls and junk mail. If privacy is of interest to you, you’ll also want to be aware that we list our address as your Wyoming business address on your formation documents, helping to ensure your personal information stays off the public record. We also include mail forwarding for all of our customers, up to 5 documents a year, totally free. The US Postal Service can’t sell your address if they only have ours!

Ownership
Owners of a Wyoming LLC are called members. Unlike a corporation, ownership of a Wyoming LLC is divided into percentages instead of stock shares. Ownership percentages should be indicated in the LLC’s operating agreement and members can be given membership certificates as documentation of their contributions to the company.

Taxes
The Wyoming Limited Liability Company (LLC) is taxed like a partnership. All profits are passed onto the members and treated as personal income. This type of tax structure is sometimes called pass-through taxation.

History
In 1977, Wyoming became the first state to allow the formation of LLCs. Since that time, LLCs have become the preferred entity of choice by entrepreneurs and start-up companies, as they allow for all the protection of a corporation without any of the formality requirements like annual meetings and corporate resolutions.