Title: Simplifying Wyoming Withdrawal of Assumed Name for Corporations Introduction: Wyoming is known for its business-friendly climate, attracting numerous entrepreneurs who register their companies in the state. When a corporation wants to discontinue operating under its assumed name, it is crucial to formally withdraw the assumed name with the Wyoming Secretary of State. This article will provide a detailed description of the Wyoming Withdrawal of Assumed Name for Corporations process to help businesses navigate this legal requirement smoothly. Keywords: Wyoming Withdrawal of Assumed Name, Corporation, Discontinuing assumed name, Legal requirements, Wyoming Secretary of State 1. What is the Wyoming Withdrawal of Assumed Name for Corporation? The Wyoming Withdrawal of Assumed Name for Corporation refers to the process of formally terminating the use of an assumed name by a registered corporation. An assumed name is often used when a business operates under a name other than its legal name. 2. Reasons for Withdrawing Assumed Name: There may be various reasons why a corporation decides to withdraw its assumed name, such as: — Rebranding or name change— - Merging with another company. — Dissolving or ceasing operations in Wyoming. — Adapting to changing market dynamics or new business strategies. 3. Types of Wyoming Withdrawal of Assumed Name for Corporations: a. Voluntary Withdrawal: A voluntary withdrawal occurs when a corporation chooses to discontinue using its assumed name voluntarily. This form of withdrawal is typically applicable when the corporation is not merging or dissolving but simply intends to operate under a different name. b. Mergers and Restructuring: In the case of mergers or other corporate restructuring, corporations may choose to withdraw their assumed name as part of the consolidation process. This type of withdrawal involves legal formalities that align with the specific requirements associated with mergers and restructuring. c. Dissolution: If a corporation decides to cease operations in Wyoming entirely, it must withdraw its assumed name as part of the dissolution process. The withdrawal is a critical step to ensure the legal entity no longer operates under the assumed name in the state. 4. How to File a Wyoming Withdrawal of Assumed Name for Corporation: To successfully withdraw an assumed name in Wyoming, a corporation must adhere to the following steps: a. Draft a withdrawal statement: Prepare a withdrawal statement indicating the corporation's legal name, the assumed name to be withdrawn, and the reason for the withdrawal. b. Obtain necessary approvals: Ensure the withdrawal statement receives the required approval from the corporation's board of directors or other relevant stakeholders, depending on the specific circumstances. c. File the withdrawal statement: Submit the withdrawal statement to the Wyoming Secretary of State, either by mail or electronically, along with the applicable filing fee. d. Update corporate records: Once the withdrawal has been approved, update all internal and external records to reflect the change. Conclusion: Withdrawing an assumed name is a crucial step for corporations operating in Wyoming. Whether it is a voluntary withdrawal, a result of mergers and restructuring, or part of the dissolution process, adhering to the relevant legal requirements ensures a smooth transition. By following the outlined process and accurately submitting the withdrawal statement to the Wyoming Secretary of State, corporations can successfully withdraw their assumed name and operate under a new name or ensure a formal cessation of operations in the state.
Wyoming Withdrawal of Assumed Name for Corporation
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Hear this out loud PauseIn Wyoming it is not mandatory to register a DBA name. However, you may register a DBA by filing an Application for Registration of Trade Name.
The DBA cost in Wyoming is $100. A DBA expires every ten years and requires renewal. You will complete the Application for Renewal of Trade Name Registration and submit it by mail to the Wyoming Secretary of State. The renewal fee for a Wyoming DBA is $50.
A fictitious name registration is used only when a company is registering as a foreign business entity and their name is unavailable for use in Wyoming. (The name of the limited liability company as registered in its state of formation.)
Hear this out loud PauseThe first step is to file a form called the Amendment to Articles of Organization with the Secretary of State and wait for it to be approved. This is how you officially change your LLC name in Wyoming. The filing fee for an Amendment to Articles of Organization in Wyoming is $60.
Hear this out loud PauseThe DBA cost in Wyoming is $100. A DBA expires every ten years and requires renewal. You will complete the Application for Renewal of Trade Name Registration and submit it by mail to the Wyoming Secretary of State. The renewal fee for a Wyoming DBA is $50.
In Wyoming it is not mandatory to register a DBA name. However, you may register a DBA by filing an Application for Registration of Trade Name.
Inactive - Administratively Dissolved or Revoked (Tax): This entity has failed to file the required annual report by the 60th day following its due date. Inactive - Administratively Dissolved or Revoked (No Agent): This entity has failed to maintain a registered agent in this state.
Hear this out loud PauseLearn more about Wyoming LLC benefits. Most Wyoming annual reports cost $60 to file, with a $2 convenience fee if done online for a total of $62. Additional fees are due if there is more than $250,000 in assets in Wyoming. Most states require an annual fee and or report for limited liability companies.
