Why Wyoming is Better
The Wyoming Advantage
We believe that Wyoming is the best business-friendly state in America and we think we can make you a believer also. In a moment, we will examine the many advantages of forming an LLC in Wyoming and aged shelf companies, but let’s first take a look at what it doesn’t have:
Wyoming doesn’t have:
- Personal income tax
- Corporate income tax
- Inventory tax
- Gross receipts tax
- Franchise tax
- Burdensome regulations
- Disclosure of shareholders
- Business or “per-capita” tax
- Excise tax
- Sales and property taxes are among the lowest in America
- A list of the members and managers of LLC’s on the public record
… CONSIDER THESE ADVANTAGES OF INCORPORATING IN WYOMING
- No State Taxes — Perfect for E-commerce companies! Any money you leave in a Wyoming C-Corporation will not have any state income taxes owed.
- Best LLC Law for Asset Protection — Wyoming was the first in the nation to have LLC’s and has some of the best laws written for them.
- Close Companies — Wyoming Close LLCs and Close corporations allow you to run a small company like an E-Commerce company and not have to worry about having annual meetings. Just have the first meeting and you are done with meetings for life!
- Unlimited ability to issue stock — Most states set a limit on the number of shares that you are authorized to issue. Not with a Wyoming Corporation! You may issue as many shares as you wish (without any additional costs or fees) by simply making the proper entries in your Articles of Incorporation. (We will take care of all that for you.) Unlimited incorporation shares may be of paramount importance to you in particular if you ever contemplate taking your company public.
- You can be everything in Wyoming — Some states require that you have more than one person to serve as the various officers and directors of your corporation. Again, not so in Wyoming! One person can fill all of the required corporate positions, giving you the ultimate flexibility and control.
- You have a right to privacy with a Wyoming Corporation— The more information about you that appears in the public record, the easier it is for you to become a target of a lawsuit. Wyoming has no requirement for the names of shareholders to be filed with the state. Nor are the members and managers of a Wyoming LLC listed.
- Restrictions and corporate formalities are at an absolute minimum in Wyoming — If you would like less “red tape,” bureaucracy, and restrictions in your business life, Wyoming is the place for you!
- Low annual fees — The annual fees in Wyoming are based solely on the value of corporate assets located within the state. Most companies pay $62 a year.
- As an officer or director, you cannot be held responsible for the debts of the corporation — Wyoming law is quite strong in this respect and holds generally that as long as you did not intentionally break the law, you are protected from claims against the corporation.
- No minimum capitalization is required in Wyoming — You can fund your corporation with one dollar, with a million dollars, or the amount of your choice. And, while there are sound business reasons for avoiding “undercapitalization,” the point is that the choice is yours and you enjoy the ultimate in flexibility.
- Your directors’ and/or shareholders’ and members’ meetings may be held anywhere in the world — You are not required to hold meetings in Wyoming; indeed, you need never set foot within the state. Wyoming is rich in history and breathtaking scenery, but if your tastes run more to the Bahamas, Hawaii, or, for that matter, the French Riviera, the choice is yours.
- Stock in your Wyoming corporation may be issued in exchange for “anything of value” — You may use cash, of course, but also property, services, or any valuable consideration at the total discretion of the board of directors which, you’ll remember, can be one person.
- If you already have a corporation — Once again, Wyoming offers unparalleled flexibility. By filing a few simple forms (we will handle it for you from start to finish), your existing corporation can become a bona fide Wyoming corporation. Wait it gets even better! Your existing corporation can retain its original incorporation date after becoming a Wyoming corporation. Anyone examining the Wyoming public record will see a corporation dating back as far as your current corporation does. You can promptly become a Wyoming corporation without losing the many benefits of your firm’s longevity and continuity of operation.
- Be sure and check. No matter if you are moving your company, forming a new one, or looking to purchase, check with your attorney to see if your company is doing anything that would require it to be registered in more than one state.
As you can see, there are numerous advantages to incorporating and forming a Wyoming LLC that make it a better state to do business in. You can find countless other reasons why to incorporate in Wyoming here on our site or by contacting us at 1-800-990-0433 or go to our order form here.