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Wyoming's charging order protection laws are effective for members to protect their LLC assets and ownership from creditors. However, that protection does not extend outside of Wyoming. Members living out of state will have to deal with different laws protecting their LLC assets from garnishment by creditors.

The question is what state is best for your parent company? Common choices are Wyoming, Nevada, Delaware and New Mexico: Wyoming is the current leader. They provide specific statutes protecting single member LLCs (subsidiaries), allow anonymity and have a comparatively low $50 annual report.

You can form a Wyoming LLC even if you don't live in Wyoming. Residency in the state, or the USA, is not required to form a company. A majority of LLCs are formed by non-residents. Forming an LLC in Wyoming as a non-resident is the same process as for a resident.

All Wyoming LLCs need to pay $60 per year for the Annual Report (aka Wyoming Annual License Tax). These Wyoming LLC fees are paid to the Secretary of State. And this is the only state-required annual fee. You have to pay this to keep your LLC in good standing.

Wyoming requires a principal place of business and mailing address, these do not need to be physical addresses, but the registered agent does need one.

Wyoming LLCs are taxed as pass-through entities by default. This means that revenue from the business passes from the LLC to the tax returns of the LLC members. Members are then responsible for paying federal income taxes and the 15.3% self-employment tax (12.4% social security and 2.9% Medicare).