Domesticate Your Corporation or LLC to Wyoming

Domestication lets you move your out-of-state corporation or LLC to Wyoming. When your company is domesticated to Wyoming, you keep the original incorporation date of your company, and enjoy most of the same benefits that Wyoming LLCs and corporations do.

However if you want maximum privacy, it’s better to start a new company in Wyoming, rather than domesticate an existing one. That’s because when you domesticate your company, your company documentation (like Articles of Organization/Incorporation) from your home state goes on the public record in Wyoming.

No Corporate or Personal Income Tax

Because there is no income tax in Wyoming, there is no state income tax return to file every year. Establish your Wyoming nexus by first moving your company to Wyoming from your home state (the state in which you initially formed your business). Stop burning your money with taxes and regulations.

No Business Tax

Wyoming does not force you to register your business with the state each year or pay a fee simply to be a business in Wyoming. Nevada recently shocked the incorporation community by requiring a business registration tax of $100, in addition to the hundreds of dollars you’d spend to form your business there. Use your money to strengthen your business, don’t give it away via taxes.

One-Person Corporation

In Wyoming, one person can be the president, secretary, and all the officers and directors of a corporation. (While the same is true of LLCs, legal risks may arise with a single-member LLC as LLCs were designed with a partnership structure in mind.) Even if you decide to have other officers and directors, you do not need to list them all.

Limitation of Liability

The officers and directors of a Wyoming corporation are protected by statute and case law from the debts and actions of the corporation. As for LLCs, the Wyoming charging order protection grants LLC owners the right to maintain their ownership stake in their company, meaning creditors cannot take control of your LLC.

Low Fees

The state filing fee is only $100 ($104 online), and the annual report fee is $60 ($63 online). There are no “hidden fees” for registering officers or changing your address.  It is really true. It only costs $100 to file an LLC or corporation in Wyoming. The cost to renew? Only a minimum fee of $60 for the annual report.

Bearer Scrip

Bearer scrip are shares that are issued to the person holding the scrip, instead of a registered owner. You cannot arrange this in some other states when incorporating.

Unlimited Shares

You can issue unlimited shares, with or without par value through your Wyoming corporation. The shares don’t have to be limited to only common or only preferred. You can have a mix of each type of shares of stock when incorporating in Wyoming.

Low Regulation

Wyoming does not have the bureaucratic regulations many other states do, and it makes an effort to keep it that way. What you see is what you get here in the cowboy state.  It can’t be any easier.

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Do you have additional questions? This is Wyoming: Feel FREE to contact us!