How to Start a Business in Wyoming

To start a business in Wyoming, you’ll first need to make some decisions about how you want your company to operate and the level of privacy and protection you want as a business owner. For registered businesses like LLCs and corporations, the official process requires submitting Articles of Organization or Articles of Incorporation to the Wyoming Secretary of State ($104 filing fee). Yes, that means a little paperwork and and upfront cost.

But in return, you get to enjoy the benefits of registering to do business in Wyoming: the best asset protection and business laws in the country. Check out our expert’s guide on everything you need to know to start a business in Wyoming.


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Guide to Wyoming Business Registration

Registering a business in Wyoming means you’ll have to choose a business entity, pick a name for your business, file paperwork with state and federal agencies, and set up your organization’s internal procedures and financial framework.

It sounds like a lot, but the alternative is to start an unregistered business (like a sole proprietorship or partnership). It’s easier and cheaper to go that route, but you won’t get the limited liability protection, tax advantages, and several other key benefits of officially registering your business with the WY Secretary of State.

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Select Your Wyoming Business Entity

The first step in starting a business is deciding what entity structure you want to use. Most entrepreneurs start either a limited liability company (LLC) or a corporation. Each entity has its advantages and disadvantages.

LLC Advantages

  • Simpler to manage
  • Pass-through taxation (no double taxation)
  • Fewer compliance regulations

Corporation Advantages

  • Greater prestige
  • Long-standing legal precedent
  • Built-in reinvestment management

This is not an exhaustive list by any means. For instance, a Wyoming corporation will not be private. So, if privacy is a priority for you, you might opt to start an LLC. We actually offer an LLC formation package specifically designed to help business owners maximize their LLC’s privacy and asset protection: The Firm LLC™.

To learn more about each business entity, you can read our extensive guides for forming Wyoming LLCs and Wyoming Corporations. You should carefully consider which entity structure will work best for your business.

Register a Business Entity with the Secretary of State

Choose a Name

When you name your business, there are two considerations to keep in mind. First, your company name must include an entity identifier (such as Corp for corporations or LLC for limited liability companies). Second, the name you select must be distinguishable from all other entities that have already registered in Wyoming.

You can do a business name search to check on the availability of entity names.

Write Bylaws/Operating Agreement

Every Wyoming business needs a governing document. An LLC is governed by its Operating Agreement (not required by law, but below we’ll explain why we strongly encourage you drafting an Operating Agreement). A Corporation is governed by its Corporate Bylaws (required by law). You do not file your governing document with any agency. It is strictly an internal document.

These documents typically address two aspects of your business

  • Ownership

    Your governing document first lays out the ownership of your company. In the case of a Wyoming LLC, this would be the ownership percentage each of your members will receive, as well as what they have contributed in return for that percentage. Generally, a member’s ownership percentage is related to the value of their initial contribution. For Wyoming corporations, this means determining the amount of stock each shareholder will receive, as well as their initial contribution.

    It is also important to include any rules or regulations for how ownership can change: how new members or shareholders can buy into the company, as well as how current owners can sell out.
  • Management

    An LLC can be managed by its members (member-managed) or by a manager(s) (manager-managed). Your Operating Agreement should explain which structure you will use, as well as the rights and responsibilities of both members and managers.

    A corporation will need to set the initial Board of Directors and appoint the initial corporate officers (President, Secretary, Treasurer, etc.). Bylaws should detail the exact duties and responsibilities for each position to eliminate any future confusion.

Why Do I Need a Wyoming LLC Operating Agreement?

It’s easy to dismiss an LLC operating agreement as a formality. After all, it’s not required by the state. But we encourage LLC owners to draft an Operating agreement because it:

  • Outlines how your business will be run, from rights and responsibilities of members to the processes for voting, amendments, and LLC dissolution
  • Verifies ownership in the event you need to prove ownership to an outside audience (as is typically the case for opening a business bank account)
  • Helps strengthen your limited liability status by clearly delineating that your business is a separate legal entity from you and other owners of the business

At the end of the day, your Operating Agreement is like your company’s constitution and a legal document that helps solidify your liability protection.


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File Articles with the Secretary of State

Now you are ready to form your business with the state. To form a business entity, you must file a formation document with the Secretary of State.

  • Wyoming LLC: Articles of Organization
  • Wyoming Corporation: Articles of Incorporation

You can hire a corporate filing service to handle these filings for you, but we have written extensive guides on how to form a Wyoming LLC and how to start a Wyoming Corporation. Our guides walk you through filling out and filing your Articles step by step.

The Secretary of State charges a filing fee of $100 (plus a $4 online processing fee) to process your Articles.

Wyoming state law requires you to appoint a Wyoming registered agent on your Articles. A registered agent accepts service of process (notice of a lawsuit against your company) on behalf of your business.

Apply for an Employer Identification Number (EIN)

An Employer Identification Number is issued by the Internal Revenue Service (IRS). It is also known as a Federal EIN or FEIN. An EIN is used to identify your company for federal tax purposes.

Not every business is required to obtain an EIN. All Corporations must have an EIN, but an LLC may be exempt.

To determine if you need an EIN, the IRS provides the following test. If you answer Yes to any of the following questions, you are legally required to have an EIN.

  • Do you have employees?
  • Do you operate your business as a corporation or partnership?
  • Do you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?
  • Do you withhold taxes on income, other than wages, paid to a non-resident alien?
  • Do you have a Keogh plan?
  • Are you involved with any of the following types of organizations:
  • Trusts
  • Estates
  • Real estate mortgage investment conduits
  • Non-profit organizations
  • Farmers’ cooperatives
  • Plan administrators

If you need an EIN, you can learn how to get an EIN for a Wyoming LLC or Corporation.

File Your Beneficial Ownership Information Report

The Corporate Transparency Act requires nearly all US LLCs and corporations to file a Beneficial Ownership Information (BOI) report after company formation. In 2024, new companies have 90 days following formation to file. Starting in 2025, companies have 30 days. Businesses created before 2024 must file by January 1, 2025.

The BOI report is submitted online to the Financial Crimes Enforcement Network (FinCEN) and is free to file. Unlike state filings, the information provided in this federal filing does not go on the public record.

You must include the following information:

For your reporting company:

  • Legal company name and DBAs
  • Principal business address
  • Jurisdiction of Formation
  • Tax ID (SSN, EIN, or TIN)

For your beneficial owners (anyone with substantial control over company decision-making or who owns 25% or more of the company) and company applicants (anyone in charge of directing company formation or filing formation documents):

  • Full legal name
  • Birth date
  • Residential address
  • Copy of ID (like a passport or driver’s license)

Companies formed before 2024 aren’t required to include company applicant information, and certain types of highly regulated businesses are exempt from reporting.

BOI report filing can be complex, but we can take care of it for you with our affordable $25 BOI report filing service.

Open Bank Account

After you have formed your business, you will want to open bank accounts to process the monetary transactions of your company. You can open a Wyoming business account fairly easily.

The bank will want to see the following documents:

  • Articles of Organization/Incorporation
  • Operating Agreement or Corporate Bylaws
  • Initial Resolution Authorizing Opening of Accounts

Every bank will have specific requirements for creating and maintaining business accounts. You should call the local branch where you intend to open an account to get a complete list of requirements.

Acquire Business License

Not every company needs a specific business license. However, if you are doing business in an industry that is regulated and requires licensing, you must obtain a license from the appropriate agency before beginning operations in Wyoming.

The following industries are regulated by state agencies:

Wyoming also requires licenses from various professions, which are overseen by state licensing boards. These professions range from law and medicine to barber and athletic training. If your profession requires licensing, you cannot do business in Wyoming until you are properly trained and licensed.

Apply for Unemployment & Workers Compensation

If you are going to hire employees (even part-time) for your Wyoming business, you must apply for Unemployment Insurance and Workers’ Safety and Compensation Insurance.

Unemployment and Workers Compensation are applied for through the Wyoming Department of Workforce Services. You can register for both programs at the same time by filing a Joint Business Registration online. You’ll need to click on the Register New Business with DWS bullet under the Employer Services header on the lower left of the page. From there, you’ll follow the employer registration prompts. When you are finished, you’ll see a Registration Summary. Print or save a copy of that page as a PDF for your records, along with a copy of the questionnaire before oyu email, fax, or mail it in.

Non-resident Wyoming employers are also required to file a minimum of an $11,000 Non-resident Employer’s Surety Bond with the Department of Workforce Services if their monthly wages are more than $10,000. The bond must be kept in place for at least two years.

You can also download a printable form and mail/fax the form to:

Unemployment Tax
Employer Services
PO Box 2760
Casper, Wyoming 82602

Register with the Department of Revenue

While there are no income or corporate taxes in Wyoming, the majority of businesses will still need to register with the Department of Revenue. Wyoming does have sales tax and excise taxes, which are paid through the Department of Revenue.

To register, you must submit a Sales/Use Tax form to the Excise Tax Division. There is a $60 non-refundable application fee. Original signatures are required, so the document must be sent by mail. Corporations must submit evidence of registration with the Secretary of State along with the application.

Forms can be mailed to:

Wyoming Department of Revenue
Excise Tax Division
122 W 25th Street, Herschler Bldg.
Cheyenne, WY 82002-0110

Hold the First Company Meeting

The first official meeting of your Wyoming company will need to address certain basic business maintenance issues. Much of the first meeting agenda is housekeeping:

  • Ratify Operating Agreement/Corporate Bylaws
  • Appoint Managers/Directors/Officers
  • Ratify Ownership Percentages/Shares
  • Approve Set Up of Bank Accounts
  • Approve Other Relevant Resolutions

In a technical sense, without ratifying and approving these various items, your Wyoming business cannot operate. However, in a very small company, this clearly can be done in a few minutes.

File Annual Report

After you have formed a Wyoming business, you will be required to file an Annual Report every year with the Secretary of State. You can file an Annual Report online, which is faster and more efficient than a paper filing.

There is a $60 filing fee (plus a $2 service fee if you file online). The fee is the same for LLCs and Corporations.

The deadline for filing is the first day of the anniversary month of your formation. If you formed your Wyoming business on October 15, then your Annual Report due date will be October 1.

Companies failing to file an Annual Report will be administratively dissolved within 60 days.


Ready to start your business? You can launch your business today fully equipped with everything you need to succeed, with a suite of additional business services available through a secure online account. You can hire us to start a standard LLC or corporation and you’ll only pay state fees and our registered agent fee. For the absolute best in asset protection, privacy, and attorney-drafted LLC documents, you can order order The Firm LLC™.