How to Set Up Your Wyoming LLC
The state of Wyoming offers several benefits that make it an excellent choice for establishing an LLC. With lower taxes, greater asset protection, and lower registration fees, Wyoming has become a go-to for new business owners and companies looking to expand their market. Below is a quick guide to the registration process, to help you get your LLC up and running.
Consider the Company Type
Before you begin the registration process, check to ensure that a Wyoming LLC is the best business type for your needs. In an LLC, the liability of each member is limited to their investment in the company, and investors cannot be held personally liable for the debts of the corporation, thereby protecting the personal assets of LLC members, except in the case of professional misconduct. Each member of the LLC pays taxes individually on their share of profits, which reduces the potential for double taxation on the business. Individual shares of the corporation are non-transferable without the express consent of all members of the LLC. Once you have decided that an LLC is the best business for your needs, you can move on to the next step.
Select a Name for Your LLC
Although choosing a name for your company may seem to be the simple step, it is essential to be aware of Wyoming’s naming requirements before you begin your registration.
Your company may not have the same name as another existing company. Be sure to perform a Business Entity Search on the Wyoming Secretary of State website for registered business names before you begin your registration.
The name of your LLC must be easily distinguishable from other similar names. The Wyomin