Merge Legal Wyoming Shopping Centers Forms For Free

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.

State income taxes are paid where the money is made. So in Steven's case, he would get no tax advantages whatsoever by having an LLC in Wyoming and instead, he'd be paying all his state income taxes in California. What's worse, is that the Wyoming Department of Revenue may require an informational return to be filed.

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).

Nevada competes most directly with Wyoming for new LLC and Corporation formations. They have similar asset protection and tax benefits. They are slightly less anonymous, however, and have higher fees. The Nevada Secretary of State charges nearly $300 to start and LLC and $500 for a Corporation.

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.

Annual LLC Fees Wyoming's LLC is required to pay an annual fee of $60 to the Secretary of State beginning the second year. There is again a $2 convenience fee for paying online. The annual report is technically calculated as the lesser of $60 or $60 for every $250k in assets in Wyoming.