View Changes And Revision History Of Legal Wyoming LLC Forms For Free

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.

How much does an LLC in Wyoming cost per year? 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.

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).

Risks of an LLC Loss of Limited Liability. Although an LLC enjoys limited liability, poor practices could result in an LLC losing its liability shield. ... Difficulty Obtaining Investors. ... Pass-Through Taxation.

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 reinstatement fee for a Wyoming LLC is $100. However, you'll also have to pay to file each late annual report ($60 for LLCs with less than $300,000 in assets). The penalty for failing to appoint and maintain a registered agent is $350.