Administrative Dissolution is when the Secretary of State of Wyoming dissolves your LLC. There are three main reasons the State of Wyoming may dissolve your company:
- Failure to file your Annual Report
- Failure to pay the Annual Fee ($60)
- Failure to maintain a Registered Agent in Wyoming
Administrative Dissolution is not a first step. Failing to fulfill the above requirements will result in the Secretary of State sending notices to your Registered Agent. Late fees are assessed. If you pay all the fees within 60 days, your company will not be dissolved.
After 60 days, the Secretary of State will commence Administrative Dissolution.
When this happens, your LLC has legally forfeited your Articles of Organization or your Certificate of Authority. You can no longer legally operate your business in Wyoming. Your liability protections no longer apply.
Many business owners do not even realize their LLC has been dissolved. This can happen if—for whatever reason—they do not receive the notices sent by the Secretary of State. In some cases, business owners continue operating after their LLC has been dissolved, unaware that their liability protection is gone and their operations are opening them up to potential lawsuits.
Always get your notices on time! Hire Buffalo Registered Agent!
How long do I have to reinstate my LLC after it’s been administratively dissolved?
You have two years in which to pay all fines and fees associated with your dissolution. During this time period, your Wyoming LLC is considered Defunct, but the Secretary of State is willing to allow it to be Reinstated. After two years, you can no longer reinstate your company and must start a new one.
Check out our How to Reinstate Your Wyoming LLC page.