Over the last decade, Wyoming has seen an unprecedented increase in the formation of LLCs and incorporation of businesses in the state. Individuals or businesses from other states are finding incorporation in Wyoming a true asset as it aids in the growth of their business. Why form an LLC in Wyoming. Because! Wyoming LLC fees as well as other expenses related to its formation are much less as compared to other states, besides money saved is money earned!
Why Choose Wyoming for Incorporation?
Of course, when you think of business incorporation, the first thing that comes to your mind is setting it up in your home state. On second thoughts, it is not always the case that the home state business climate might be perfect for the overall growth of your business. What are your options? Welcome to the state of Wyoming!
There are several reasons why formation of LLCs or business incorporation in Wyoming is one of the current trends in the country. This trend is driven by some of the benefits that you can derive when we help you setup your business in this state. Here is an insight into the advantages of incorporation in Wyoming vis-à-vis your home state.
The Tax Advantage
The biggest advantage that a corporation can enjoy in the state of Wyoming is exemption from a variety of taxes. It is stated in the Tax Foundation’s State Business Tax Climate Index, 2015 edition that Wyoming has retained the title of being the most business-friendly tax system in any state for quite some time now. If you set up a company in Wyoming, some of the tax advantages you can enjoy include:
- No Corporate income tax
- No Personal income tax
- No “per-capita” or business tax
- No Inventory tax
- No Gross receipts tax
- No Excise tax
- No Franchise tax
These advantages translate into higher profits, which further aids in growth.
Right to Privacy
Not a resident of Wyoming? It really doesn’t matter as directors, shareholders, and officers of a Wyoming corporation or members of Wyoming LLC are not required to be residents of the state. We would still recommend you should check with your local government body once so that you don’t end up breaching any regulation. If you want to know how you could set up company in Wyoming then we are there to help you!
In the state of Wyoming, LLCs and Corporations are protected from lawsuits. You would be surprised to know that the LLC statutes were first instituted in the state of Wyoming in 1977. This is one of the reasons why the state has strong asset protection policy favoring incorporation in Wyoming.
How do you incorporate in Wyoming?
If you are planning to set up company in Wyoming then you will be required to follow certain procedures that will aid in the formation of your LLC or incorporation. These procedures vary from state to state although certain aspects remain the same. We at incparadise.net have specialists on our team who can guide you towards setting up or forming LLC, Wyoming C Corporation, and Wyoming S Corporation in the shortest possible period.
We will take care of the entire process of company incorporation in Wyoming right from finding a business name, through to filing your articles of incorporation in compliance with Wyoming Statutes 17-16-101. We also provide other related services as your registered agent in the state of Wyoming.
Procedure for company incorporation in Wyoming
In order to set up company in Wyoming you will have to follow a process. Here is a step by step procedure towards incorporation:
Business name is essential for incorporation of business or formation of LLC. Hence, the first step is to identify a name that can be associated to your business and provides a picture of what you offer in terms of services or products e.g., Teton Village Parks and Resorts. This name provides an insight into what you offer and where is it situated.
It is important to check if the name is already in use. If not, you can confirm the business name.
You can check whether your chosen name exists or not right on our website by clicking here.
Articles of incorporation
Once you have finalized a name for your business, we at incparadise.net will ensure your Articles of Incorporation in compliance with Wyoming Statutes 17-16-101 through Wyoming Statutes 17-16-1804 is duly filled. As required in the document, you will need to provide the newly chosen business name, name and address of the registered agent, name & address of board members or directors/trustee, and incorporator etc.
We can help you file the company incorporation in Wyoming documents through the standard process or we can do it online.
Federal Tax ID
Certificate of incorporation/formation
Once the company incorporation in Wyoming process is complete, you will receive the “Wyoming certificate of incorporation”. This certificate is a proof that your business exists. This proof is often required when opening a bank account or while applying for a loan.
Wyoming Incorporation Agent
A Wyoming registered agent like incparadise.net is required to ensure your business meets all the necessary requirements. We can also receive any and all legal and business related paperwork on your behalf.
Costs and Fees associated with Wyoming Incorporation
Is incorporating in Wyoming expensive? This is a question that most of our previous clients have asked and the answer is that “We will ensure it is not burdensome for you!” Check Fees here!
The standard fee associated with business incorporation in Wyoming is actually higher than what we charge!
Wondering why we are charging less? We have facilitated the incorporation of more than 10,000 businesses and it is never about the fees – it is all about ensuring you get the best service always!
We at incparadise.net can help you incorporate your business in the state of Wyoming by filing your paperwork online. This will ensure your corporation is formed in the fastest possible time, as compared to regular filing, which normally takes 7-10 days. Our endeavor will always be towards providing you a service that will become the foundation stone for a long standing relationship.