Wyoming is one of the most popular states for LLC formation due to strong privacy protections, no state income tax, and business-friendly regulations. This guide covers everything you need to know.
Are You a US Resident or Non-Resident?
The formation process differs slightly based on your residency status. Choose your path:
✅ I'm a US Resident
Follow Maria's step-by-step guide for US residents forming a Wyoming LLC.
See US Resident Guide →🌍 I'm a Non-US Resident
International entrepreneurs: form a US LLC and access the US financial ecosystem.
See Non-Resident Guide →Why Choose Wyoming?
Wyoming offers significant advantages for LLC owners:
Key Benefits
- 🔒 Strong Privacy Protection: Wyoming doesn't require member names in public filings
- 💰 No State Income Tax: Zero corporate or personal income tax
- ⚖️ Asset Protection: Strong charging order protection laws
- 📝 Low Compliance: Simple annual reporting requirements
- 💼 Business-Friendly: Flexible operating agreement rules
Quick Stats
| Feature | Details |
|---|---|
| Formation Cost | ~$100 state filing fee |
| Annual Report | ~$60 minimum |
| Processing Time | 3-10 business days (online filing) |
| Registered Agent | Required (physical Wyoming address) |
| Privacy Level | High - members not disclosed |
Step 1: Check LLC Name Availability
Before filing, search the Wyoming Secretary of State database to ensure your desired LLC name is available.
Naming Requirements
- Must include "LLC", "L.L.C.", "Limited Liability Company"
- Cannot include restricted words without approval (Bank, Insurance, etc.)
- Must be distinguishable from existing businesses
Tools
- Wyoming SOS Business Search - Official name search
- LLC Name Generator - Generate creative business names
For US Residents: Maria's Step-by-Step Guide
Maria wanted privacy, low compliance hassle, and a business-friendly state—so she chose a Wyoming LLC. Here's her exact process.
Maria's Quick Overview
- Why Wyoming? Strong owner privacy, business-friendly rules, no state income tax
- Total Cost: ~$139 ($100 state fee + $39 registered agent)
- Timeline: LLC formed in 7 days
- Outcome: LLC formed, EIN obtained, BOI filed, bank account opened
Step-by-Step Process
1. Decide on Wyoming
Maria weighed privacy, taxes, and where she would operate. Because her store ran online and she valued anonymity, Wyoming's privacy protections made sense.
Key Considerations:
- Operating location (online vs. physical)
- Privacy requirements
- Tax implications
- Long-term business goals
2. Pick & Check an LLC Name
She chose Maria's Market Hub LLC and searched the Wyoming Secretary of State name search to confirm availability.
Wyoming Naming Rules:
- Include "LLC" designation
- Avoid restricted words
- Check availability first
3. Choose a Registered Agent
Every Wyoming LLC needs a registered agent. Maria hired a professional agent to:
- Keep her home address off public records
- Ensure she never missed official mail
- Maintain compliance
Registered Agent Requirements:
- Physical Wyoming address (not P.O. Box)
- Available during business hours
- Receives legal and state documents
Cost: $39-$150/year
4. File Articles of Organization
Maria filed the Articles of Organization with the Wyoming Secretary of State. This filing officially created her Wyoming LLC.
Filing Information Needed:
- LLC name
- Registered agent information
- Management structure (member-managed or manager-managed)
- Organizer information
Cost: ~$100 state filing fee
Timeline: 3-10 business days (online filing)
5. Create an Operating Agreement
She drafted a short Operating Agreement (Single-Member LLC wording) to document:
- Ownership structure
- Decision-making processes
- Distribution rules
- Dissolution procedures
Note: While not required by Wyoming, an Operating Agreement is essential for:
- Opening business bank accounts
- Legal clarity
- IRS compliance
6. Get an EIN
Maria applied online at the IRS and got her EIN instantly—required for:
- Business banking
- Hiring employees
- Tax filing
- Payment processors
Cost: Free
Timeline: Immediate (online application)
7. File the BOI Report
Because of the federal BOI (Beneficial Ownership Information) rule, she filed owner details within 90 days of formation.
BOI Requirements (2024+):
- File within 90 days of formation
- Report all beneficial owners (25%+ ownership)
- Update within 30 days of changes
Cost: $0-$25 (DIY free; service providers $9-$25)
8. Register for Taxes & Local Permits
Wyoming has no state income tax, but Maria checked for:
- Sales tax nexus (if applicable)
- Local business licenses
- Industry-specific permits
9. Open a Business Bank Account
Maria brought these documents to open her business checking account:
- EIN confirmation letter
- Articles of Organization
- Operating Agreement
- Government-issued ID
She then linked Stripe for online payments.
Popular Banks for LLCs:
- Chase Business Banking
- Bank of America Business
- Mercury (online banking)
- Relay (online banking)
10. Ongoing Compliance
Maria set calendar reminders for:
- Annual Report: Due on LLC formation anniversary (~$60 minimum)
- Registered Agent Renewal: Annual fee
- BOI Updates: Within 30 days of ownership changes
- Tax Filings: Federal and applicable state taxes
Estimated Costs & Timelines
| Item | Cost | Timeline |
|---|---|---|
| Wyoming Articles of Organization | ~$100 | 3-10 business days |
| Registered Agent (first year) | $39-$150 | Instant setup |
| BOI Filing Service | $0-$25 | Within 90 days |
| EIN from IRS | Free | Immediate online |
| Business Bank Account | $0-$300 | Same day to few days |
| Wyoming Annual Report | ~$60/year | Due annually |
| Total First-Year Cost | ~$139-$270 | 1-2 weeks total |
Note: Amounts are estimates. Always confirm current fees with Wyoming SOS.
Quick Checklist
Copy this checklist to track your progress:
- [ ] Confirm LLC name availability at Wyoming SOS
- [ ] Appoint a registered agent
- [ ] File Articles of Organization (pay state fee)
- [ ] Draft Operating Agreement
- [ ] Apply for EIN (IRS)
- [ ] File BOI within 90 days
- [ ] Open business bank account & connect payment processor
- [ ] Schedule Annual Report reminder
For Non-US Residents
If you're not a US resident, the process is slightly different. We have a comprehensive guide specifically for international entrepreneurs.
What's Different for Non-Residents?
- EIN Application: Must apply by mail or fax (not instant)
- Bank Account: May need ITIN or passport
- Registered Agent: Absolutely required (no physical presence)
- Payment Processing: Access to Stripe, PayPal with US LLC
Complete Non-Resident Guide
👉 Visit our complete guide for non-US residents →
This guide covers:
- How to form a US LLC for just $17
- Opening a US bank account without SSN
- Integrating Stripe and PayPal
- Tax compliance for foreign owners
- Step-by-step Doola and Mercury setup
Frequently Asked Questions
How long does forming a Wyoming LLC take?
Answer: Online filing typically takes 3-10 business days. Expedited service is available for an additional fee.
Does Wyoming require annual reporting?
Answer: Yes—an Annual Report is required each year, with a minimum fee of around $60.
Do I need a Wyoming registered agent?
Answer: Yes—every LLC must have a registered agent with a physical address in Wyoming.
Can non-US residents form a Wyoming LLC?
Answer: Yes! Non-US residents can form a Wyoming LLC. See our complete non-resident guide for details.
What's the difference between Wyoming and Delaware?
Answer: Both are popular states, but Wyoming offers:
- Lower annual fees
- Stronger privacy protections
- No franchise tax
Delaware is better for:
- Venture capital fundraising
- Complex corporate structures
- Going public eventually
Do I need a business license in Wyoming?
Answer: Wyoming doesn't require a general business license, but you may need:
- Industry-specific licenses
- Local permits (city/county)
- Professional licenses
Next Steps
Ready to form your Wyoming LLC?
🚀 Start for $39
Get started with professional registered agent service
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Related Resources
- Best State to Form an LLC - Compare Wyoming with other popular states
- How Long Does It Take? - Processing times by state
- LLC Name Generator - Generate creative business names
- Non-Resident Guide - Complete guide for international entrepreneurs
Summary
Wyoming offers an excellent combination of privacy, low costs, and business-friendly regulations for LLC formation. Whether you're a US resident following Maria's path or a non-resident accessing the US market, Wyoming provides a solid foundation for your business.
Key Takeaways:
- Total cost: ~$139-$270 first year
- Timeline: 1-2 weeks
- Strong privacy and asset protection
- Simple annual compliance
- Suitable for both residents and non-residents
Ready to get started? Choose your path above and begin your LLC formation journey today!