Draw On Legal Wyoming LLC Resolutions Forms For Free

No Asset Protection Guarantee Wyoming does have asset protection laws, but these are not as good as they may seem at first. That is because anyone who is out of state, like most LLCs, will have to deal with conflicting laws. In that situation, the Wyoming asset protection laws become irrelevant and lose their benefits.

Wyoming Statutes § 17-29-110: Though Wyoming does not legally require an operating agreement for an LLC, having one is strongly recommended. This document includes provisions for the regulation of business affairs of the company and its members, as well as managers.

The cost of filing the Articles of Organization to form an LLC in Wyoming, along with the Annual Report Fee, is only $150. Compare this to the $390 for the same in Delaware and $775 in Nevada. When it comes to taxes, Wyoming has no corporate or personal income tax.

Wyoming LLC Fees Starting the company only requires a $100 filing fee payable to the Wyoming Secretary of State. The price is $102 if you file online. There is a $2 convenience fee.

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.

LLC Taxation For Non-Residents Foreigners with a Wyoming LLC are only taxed in the US on income from US sources, which means that income from other countries won't be taxed by the US. But non-US owners of Wyoming LLCs are taxed initially on any US-sourced income at a rate of 30%. This 30% is paid to the IRS.