We can and do register corporations and limited liability companies in any state, as well as in offshore jurisdictions, but our preference for U.S. registrations is the state of Wyoming. Why Wyoming?
With fewer than 600,000 residents, Wyoming is the least populous of the 50 U.S. states and the District of Columbia. It’s also the second least densely populated state. Only Alaska has fewer residents per square mile. But it’s more than wide-open spaces and majestic mountains that recommend Wyoming as the best state in which to incorporate or register an LLC.
Wyoming actually introduced the LLC concept to the world, in 1977. A hybrid form that combines the liability protection of a corporation with the pass-through benefits and simplicity of structure of a personal company, the form has since been emulated by every other state and many countries. That was then, and Wyoming still stands apart as the best place in which to register a company.
There are lots of compelling reasons for that. It’s quick, easy, and inexpensive to register either a corporation or LLC in Wyoming. Privacy protections are strong in that members are not listed in publicly available documents and individual principals cannot be searched from the Wyoming Secretary of State’s web site, as they can be in Nevada, for instance. Wyoming’s filing fee is just $102, compared to Nevada’s $475 fees. For ongoing costs, Wyoming’s annual fee for companies that do not have significant assets within the state is just $50. Annual costs in Nevada, on the other hand, are $350, and Delaware has an annual franchise tax of $300.
A key element of incorporating or registering an LLC is asset protection. Again, Wyoming excels in this area, not just in practice but by state statute. By law, the sole remedy available to a successful litigant is the charging order, which is put against company distributions and not against assets. And in Wyoming, single-member LLCs have the same protection as multi-member LLCs, unlike in many other states. Other than in cases of fraud, state law makes it very difficult to pierce the corporate veil, whether for LLCs or corporations.
Wyoming permits domestication of companies registered in other states, so if you have a Nevada or Delaware entity, or an entity in any other state, and want to move it to low-fee Wyoming, we can do that, whether for a corporation or for an LLC. Just let us know in the comments section of our form that it’s a domestication you wish to register.
If there is any state that is open for business, it’s Wyoming. The Tax Foundation year after year ranks Wyoming at or near the top of the list of the 50 states in its “State Business Tax Climate Index Rankings.” Along with no state income tax, there no inventory, gross receipts, or franchise taxes, no onerous regulations, and no per capita or excise taxes. Sales, property, and inheritance taxes are relatively low. But the benefits don’t stop with low costs and no state taxes.
If you’re ready to set up your new entity, whether in Wyoming or elsewhere, you can apply online here for corporations or here for LLCs. We’ll be happy to assist you and make your registration process as quick and simple as possible.