If you want to close your business and end its existence in Wyoming, this process is known as Dissolution. It is fairly straightforward to dissolve a Wyoming LLC. Below is our step by step guide to Wyoming LLC dissolution.
It is possible to simply stop filing your Annual Report every year and paying the filing fee. If you do so, the Wyoming Secretary of State will administratively dissolve your Wyoming LLC.
There is, however, a downside to this path. If you change your mind and want to go back into business, you will be forced to reinstate your business. You can see our page on how to reinstate your LLC for more information.
Steps to Dissolve a Wyoming LLC
File Articles of Dissolution
Articles of Dissolution are filed with the Wyoming Secretary of State. You must pay the filing fee of $50.
The form is very simple. You must include the name of your LLC, the date of dissolution, the signature of an authorized individual of the company, and contact information. Submit one originally signed document and one photocopy.
Conduct Wind-Up Measures
The Wyoming LLC Act requires that you perform all wind-up measures when you dissolve a Wyoming LLC. Wind-up measures include, but are not limited to: settling all company disputes, closing company activities, transferring of property, discharging all debts and obligations, and distributing all assets.
The Secretary of State’s office will process the Wyoming LLC dissolution in one week. Wind-up measures may take longer, but once the dissolution is approved your company will no longer be legally allowed to conduct business within the state (business associated with winding-up is okay).
Can You Help Me Dissolve a Wyoming LLC?
No. Buffalo Registered Agent does not handle dissolution services. However, we have provided the guide above.
Can I Organize My LLC Somewhere Else Before it is Dissolved in Wyoming?
If you are moving your company to another state, you should first check to ensure that continuance is available in the state you are moving to. Not all states allow continuance. If this is not allowed in the state you are moving to, you may be required to begin a brand new company.
What is Administrative Dissolution?
Administrative dissolution is when the a Wyoming LLC is dissolved by the Secretary of State’s office. This generally happens when an LLC does not file its Annual Report or when a company fails to maintain a registered agent.