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Wyoming Continuance Articles

Category:
Secretary of State - Corporations - Nonprofit Corporations - Foreign
State:
Wyoming
Control #:
WY-FNP-004
Format:
PDF
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Description

Continuance Articles
Wyoming Continuance Articles are legal documents that allow businesses to remain in good standing in the state of Wyoming. These documents help companies to maintain their corporate existence and fulfill their statutory requirements. There are two types of Wyoming Continuance Articles: Domestic Continuance Articles and Foreign Continuance Articles. Domestic Continuance Articles are filed with the Wyoming Secretary of State for Wyoming-based companies that are already in good standing. Foreign Continuance Articles are filed for companies that are registered in another state but wish to do business in Wyoming. Both articles allow companies to continue their corporate existence in the state.

Wyoming Continuance Articles are legal documents that allow businesses to remain in good standing in the state of Wyoming. These documents help companies to maintain their corporate existence and fulfill their statutory requirements. There are two types of Wyoming Continuance Articles: Domestic Continuance Articles and Foreign Continuance Articles. Domestic Continuance Articles are filed with the Wyoming Secretary of State for Wyoming-based companies that are already in good standing. Foreign Continuance Articles are filed for companies that are registered in another state but wish to do business in Wyoming. Both articles allow companies to continue their corporate existence in the state.

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FAQ

Incorporating in Wyoming is a smart move for business owners. Not only does the ?Equality State? lack personal income, inventory, corporate, and franchise tax, but the western state also lacks burdensome regulations. And even though Wyoming has sales and property taxes, their rates are much lower than other states.

Why Incorporate in Wyoming? Wyoming is a popular corporate haven due to its lack of taxes and endemic privacy concerns. These factors drive many new incorporations. Wyoming also has the added benefit of allowing you to hold your shares in a Wyoming LLC or a Wyoming Trust for additional asset protection.

You can move your LLC (limited liability company) to Wyoming AND keep the original date of organization and EIN to maintain the company history. The State of Wyoming calls this process a "Continuance."

Wyoming only requires you to pay a minimal filing fee and an annual report fee of $50 in most cases. In addition, you do not have to pay state income tax and franchise tax. Delaware, on the other hand, is more geared towards large corporations because it provides better legal protection for shareholders and directors.

The most significant advantages of Wyoming LLC formation are that Wyoming does not impose a state corporate income tax, allows for anonymous LLCs, and has relatively low formation fees.

The 2021 state business tax climate index by tax foundation has ranked Wyoming as #1 ? right at the top! Some of the reasons for the tax friendly climate or low tax burden are: The state has no corporate state income tax. There is no personal state income tax.

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.

Why is Wyoming one of the best states for LLC? Wyoming has many advantages over other states for building an LLC. It has no state income tax, filing and reporting costs are low, members' privacy is assured, and it has charging order protection laws.

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More info

Articles of Continuance must be completed and filed to continue a corporation under the NotforProfit Corporations. For new formed Corporations please use Form 4001 – Articles of Continuance.These are both available as a fillable PDF form on Corporations Canada's website. 1 - Articles of Arrangement The Articles of Continuance must ensure that it will be organized and operated, and carry on business on a cooperative basis. Notice of continuation completed will be sent to previous jurisdiction. What is required to complete the Articles of Continuance? For more details see the practice note: Continuance into the CNCA. 2 3 The articles of continuance must be completed. This guide tells you how to ask the judge for a continuance.

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