What do we mean when we talk about business privacy in Wyoming? It’s a tactful way to address what opponents call anonymous LLCs and what proponents call membership security, or business privacy protections. The basic fact of the matter is, however, if you use a Wyoming registered agent service, you will not need to list ownership information on the Articles of Organization when forming a Wyoming LLC.
LLC Privacy in Wyoming
When you form an LLC, you don’t need to list ownership information when you hire a Wyoming registered agent. This practice has led to a lot of confusion, mainly regarding anonymity. For bad actors and nefarious tax planners, the Wyoming LLC does not completely hide ownership. The registered agent is required to keep an active membership list on its premise for every LLC it serves. That means, that should a Wyoming LLC be involved in potentially illegal activity, it’s extremely easy for the authorities to lookup an LLC’s registered agent, get a court order and have the registered agent reveal ownership information. If a registered agent doesn’t have the ownership information on hand, they can face steep penalties, so you can be sure your registered agent will have that information on file should anyone need it.
That said, many business owners do find and seek out the benefits of business privacy protections in Wyoming.
LLC Privacy Advantages
Keeping your personal name off public business filings in Wyoming does offer business owners three main advantages.
- No Junk Mail
If there is no personal name on the business filing, the owner will have to deal with a lot less junk mail and spam. It’s a small thing that adds up with time, and is simply a nice advantage. At Buffalo Registered Agents, we list our business address as a business’ contact address for no extra charge. This means that our clients don’t waste time with mail they don’t need, and their information stays as private as possible.
- Corporate Identity Security
It’s no secret that protecting personal information on the Internet is a worrisome issue for many in today’s age of identity theft and constant hacking. But if you don’t list your personal details online, there’s nothing for a hacker or thief to steal. LLC privacy in Wyoming helps to ensure that no one can hijack your business.
- Controlling Your Information
For those who are utilizing an LLC in Wyoming as a holding company or for asset planning and are concerned about asset protection, information security is paramount. It becomes increasingly difficult for someone looking for a payday by suing you to find out what you own if your name isn’t publicly listed on the company. (If this is a concern for you, please read about our Firm LLC package—we have designed this LLC to be able to have strict controls and to utilize Wyoming’s asset protection statutes to their fullest.)
Maintaining Business Privacy in Wyoming
Establishing business security protections in your formation documents is simple enough: hire a registered agent in Wyoming and leave your personal information off the Articles of Organization. But where many people lose their privacy is during the annual report process. Annual reports require the name and signature of someone authorized by the company to complete the report. These reports are due each year and they are public documents. Many business owners, not thinking, simply list their names and then instantly lose all the privacy they worked to establish.
That’s why Buffalo Registered Agents offers an Annual Compliance Nominee Service. For $100 a year plus the state’s annual report fee, we’ll file your Wyoming annual report on your behalf, ensuring your personal information is kept private and that your business remains in good standing with the state.
To learn more about keeping your LLC in good standing and ensuring privacy remains intact, you can peruse our site. For official information about maintaining your LLC, visit the Wyoming Secretary of State.