How to Register a Business in Wyoming – Comprehensive Guide

Last Updated on October 3, 2024 by Dr. Gabriel O’Neill, Esq.

Starting a business can bring both excitement and a sense of accomplishment, but registering your business can feel intimidating, especially for first-time entrepreneurs. Fortunately, with the right guidance and resources, registering your business in Wyoming can be simple and stress-free.

In this blog post, we’ll provide you with a thorough guide to help you smoothly register your business in Wyoming. We’ll also share useful tips and tools to make the process even easier. Whether you’re launching a new venture or formalizing an existing one, this guide will walk you through the registration process in seven easy steps.

If challenges still arise, don’t worry—we’ve also put together a list of top business registration services like ZenBusiness, ready to support you every step of the way. Let’s dive in and make the process of registering your business in Wyoming a breeze!

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How to Register Your Business in Wyoming in 7 Simple Steps

The process of registering your business in Wyoming can be effortlessly navigated with the implementation of these seven essential steps. Stay ahead of the curve and establish your Wyoming business promptly with this meticulously crafted guide.

Step 1: Choose Your Business Structure

Determining the most suitable business structure for your enterprise in Wyoming involves careful consideration of the type of business you’re starting and your expansion plans. Let us delve into the various options available, both incorporated and unincorporated, in greater detail.

Please note that registering your business with the Wyoming Secretary of State is only required if you select a structure that necessitates incorporation. Here are the options to consider:

Sole Proprietorship

A sole proprietorship is the simplest business structure in Wyoming, where the owner and the business are considered one legal entity. Consequently, the owner bears personal responsibility for the business’s debts and liabilities. Establishing a sole proprietorship is straightforward and entails minimal legal and administrative requirements. While registration with the state isn’t mandatory, you may need to obtain local permits or licenses.

General Partnership

A general partnership involves joint ownership of a business by two or more individuals who share both profits and losses. Each partner in a general partnership is personally liable for the business’s debts and legal obligations. In Wyoming, registering a general partnership with the state isn’t obligatory. However, you may need to file a “Wyoming Assumed Business Name Certificate” (DBA) in the county where your business is located.

Limited Partnership (LP)

In Wyoming, a limited partnership consists of one or more general partners who manage the business and assume unlimited personal liability, as well as one or more limited partners who provide capital but have limited liability. To establish an LP in Wyoming, you must file a “Certificate of Limited Partnership” with the Wyoming Secretary of State.

Limited Liability Company (LLC)

An LLC is a flexible business structure that combines the liability protection of a corporation with the tax benefits and simplicity of a partnership. In Wyoming, forming an LLC requires filing Articles of Organization with the Wyoming Secretary of State and creating an Operating Agreement to outline the company’s management and ownership structure.

Corporation

A corporation is a separate legal entity from its owners (shareholders) and offers limited liability protection. In Wyoming, there are two types of corporations:

• C-corporations
• S-corporations

To establish a corporation in Wyoming, you must file Articles of Incorporation with the Wyoming Secretary of State, depending on the nature of your business. Corporations entail additional formalities, such as creating bylaws, issuing shares, and conducting regular board and shareholder meetings.

Choose the business structure in Wyoming that best aligns with your needs, considering factors such as liability protection, taxation, and management requirements. If you require assistance in making this decision, it’s advisable to consult with a legal or business professional.

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Step 2: Select a Unique Business Name

In Wyoming, there are three distinct approaches to naming your business: registering a legal entity name, obtaining a trademark, or registering a legal name and operating under a different one. Naming regulations and requirements vary from state to state, so it’s crucial to familiarize yourself with Wyoming’s specific guidelines.

Similar to the process of incorporating your business, the naming method you select in Wyoming will depend on the unique needs and circumstances of your entity.

You may consider pursuing all three routes to ensure the exclusivity of your chosen name, or you can select one of the three available options. Although it’s not obligatory, it’s generally advisable to use the same name for all registration methods.

Now, let’s delve into the details of each naming option in Wyoming:

Legal Entity Name

In Wyoming, businesses are required to register a legal entity name, which serves as the official identifier for the company recognized by the state. Entity names must be distinctive, protecting against the possibility of another business having the same name as yours.

Wyoming’s naming laws encompass guidelines regarding company suffixes (e.g., LLC, LP, or Corp) and mandate that the name accurately reflects the nature of the registered business. You can verify name availability by utilizing the Wyoming Secretary of State’s official database.

Trademark

In Wyoming, a trademark serves as a form of intellectual property that safeguards a business name or logo at a national level. Conducting a comprehensive search in the USPTO database is crucial to ensure that the desired name or logo isn’t already registered, thereby preserving its uniqueness.

Once the trademark is successfully registered, it protects others using the same or similar name or logo for similar goods or services on a nationwide scale. It’s important to note that obtaining a trademark does not automatically grant unrestricted usage of the name or logo in all circumstances.

Doing Business As (DBA)

In Wyoming, you also have the option of registering your business under one official name and operating under a different name, commonly known as a Doing Business As (DBA) name. To establish a DBA, you must file a Trade Name Application (DBA) with the Wyoming Secretary of State. While these names are subject to federal trademark laws, there is no requirement for a DBA to be unique at the state level.

By understanding and carefully considering these naming options, you can effectively register your business name in Wyoming and safeguard your brand identity.

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Step 3: Consider Taxes and Other Costs in Wyoming

Here are the taxes that a Wyoming LLC may be subject to:

• Sales Tax: Wyoming has a 4% sales tax. Additionally, counties may charge up to an additional 2% sales tax. If your business is responsible for collecting and remitting Wyoming sales tax, you need to register with the Wyoming Department of Revenue

• Income Tax: Wyoming does not have a personal income tax. However, if your LLC is a multi-member LLC and it chooses to be taxed as a corporation, then it will be subject to Wyoming corporate income tax. The corporate income tax rate in Wyoming is 7%

• Property Tax: Wyoming property taxes are assessed by local governments. The amount of property tax you owe will depend on the value of your property and the tax rate in your jurisdiction

• Withholding Tax: If your LLC has employees, you may be required to withhold state income tax from their paychecks. The amount of withholding tax you withhold will depend on the employee’s income and filing status

• Employer’s Unemployment Insurance Tax: Wyoming employers are required to pay unemployment insurance taxes. The rate of unemployment insurance tax is 1.2% of the first $9,000 of wages paid to each employee

• Worker’s Compensation Insurance: Wyoming employers are required to provide workers’ compensation insurance for their employees. The cost of workers’ compensation insurance will vary depending on the type of business you operate and the number of employees you have

• Franchise Tax: Wyoming does not have a franchise tax

It’s important to note that these are the general taxes that a Wyoming LLC may be subject to. There may be other taxes that apply to your specific business, so it’s important to consult with a tax professional to ensure that you comply with all applicable laws.

Entrepreneurs in Wyoming can optimize the registration process by leveraging online resources such as ZenBusiness. ZenBusiness offers a comprehensive suite of services tailored specifically to assist business owners in their registration endeavors. These services encompass efficient filing with the Secretary of State, facilitating the acquisition of an Employer Identification Number (EIN), and establishing a robust operating agreement. 

Furthermore, ZenBusiness provides ongoing compliance support to help businesses maintain their favorable status within the state’s regulatory framework.

Step 4: Register and Acquire Licenses and Permits in Wyoming

To ensure compliance with legal requirements, it’s necessary to apply for the relevant licenses and permits for your business in Wyoming. These include the following:

Tax Registration: If your business involves the sale of goods, it’s mandatory to register with the Wyoming Department of Revenue (DOR) for sales tax collection. The Sales/Use Tax License Application can be downloaded from the DOR website.

EIN (Employer Identification Number): If your business has employees or is taxed separately from you, obtaining a federal Employer Identification Number (EIN) from the IRS is essential. Even if it’s not required, there are practical reasons to obtain an EIN. Banks typically require an EIN to open a business account; other companies may request an EIN for payment processing. An EIN can be obtained by completing an online application without any filing fee.

Regulatory Licenses and Permits: These licenses and permits pertain to various areas such as health and safety, environmental compliance, building and construction regulations, as well as specific industries or services. The Wyoming Business Council (WBC) offers a comprehensive guide called “Wyoming Business Permitting and Licensing,” which provides a user-friendly overview of the state’s regulatory requirements and the corresponding issuing agencies. 

Additionally, for local licenses and permits, it’s advisable to consult the websites of relevant cities or counties where your business will operate.

Professional and Occupational Licenses: These licenses apply to individuals in specific fields or professions. The Wyoming Department of Administration and Information (DAI) maintains an online directory of regulatory boards for some licensed professions and occupations. Moreover, the Governor’s Boards and Commissions website features a section where you can search for a specific regulatory board if you know its name. 

Furthermore, the WBC publication, “Wyoming Business Permitting and Licensing,” includes a comprehensive list of state agencies responsible for administering professional licenses.

It’s crucial to navigate the licensing and permitting process diligently to ensure legal compliance and the smooth operation of your business in Wyoming.

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Step 5: Open a Bank Account For Your Business in Wyoming

Once you have obtained your EIN, the subsequent vital step is to establish a business bank account within the state of Wyoming.

The regulatory provisions governing limited liability partnerships (LLPs), Limited Liability Companies (LLCs), and corporations make it mandatory to open a business bank account. However, sole proprietors and unincorporated partnerships are not required to maintain separate personal and business bank accounts.

To open a business account in Wyoming, simply visit a local bank and complete the requisite documentation. It’s recommended to conduct a thorough assessment of different banks and compare the rates and advantages they offer before making a final decision.

Even if you’re operating as a sole proprietor or unincorporated partnership in Wyoming, it’s advisable to maintain a designated company bank account to ensure clear segregation of personal and business finances. This proactive measure will save you from potential complications should you opt to incorporate your business at a later stage.

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Step 6: Protect Your Intellectual Property in Wyoming

When embarking on a business venture in Wyoming, safeguarding your valuable intellectual property (IP) becomes a critical consideration. Depending on the nature of your company, you may possess assets such as trademarks, copyrights, or patents that require protection.

For instance, businesses often seek to shield their name, logo, or designs from unauthorized use. Depending on your business’s focus, you may also aim to secure rights to product designs or creative works such as writing, designs, or music that you produce.

Wyoming offers various avenues for IP protection, and it’s advisable to initiate the necessary applications promptly to prevent unauthorized exploitation of your IP.

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Trademark

In Wyoming, a trademark represents a recognizable symbol, phrase, word, or design that distinguishes a product or service from similar offerings in the market.

To obtain legal protection, trademarks must be registered through the United States Patent and Trademark Office (USPTO). The registration process typically takes four to six months to complete. Once registered, the trademark receives nationwide safeguarding, allowing for legal action against unauthorized usage.

In Wyoming, businesses can protect their trademarks by registering them with the USPTO. This not only safeguards their brand identity and reputation but also provides legal recourse against any unauthorized use of the trademark.

Copyright

Wyoming recognizes copyright protection for original works of authorship, including literary, dramatic, musical, artistic, and various other intellectual creations. This encompasses written content, software, web content, films, sound recordings, images, and other forms of creative expression.

In Wyoming, copyright protection is automatically granted to the creator upon the creation of a new work. As the owner of exclusive rights to distribute, reproduce, create derivative works, and sell intellectual property, you possess the legal authority to control its usage.

However, registering your copyright with the U.S. Copyright Office is advisable for additional legal protection and evidence of ownership. Registering your copyright in Wyoming helps safeguard your work against infringement and provides a means to enforce your rights through legal proceedings if necessary.

Patent

If you invent a new product or machinery in Wyoming, obtaining a patent is crucial. A patent grants exclusive rights to the holder, preventing others from manufacturing, selling, or importing the patented item for a specified period.

The patent process is intricate and can take up to five years to complete, so early initiation is recommended for protecting your unique invention. Patent applications are submitted to the United States Patent and Trademark Office (USPTO).

By prioritizing the protection of your intellectual property in Wyoming, you can ensure the preservation of your brand, products, and creations, maintaining a competitive edge and promoting sustained growth for your business.

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Step 7: Set Up Your Payment Infrastructure in Wyoming

To ensure your Wyoming-based business is primed to serve customers promptly upon registration, it’s crucial to establish a convenient and hassle-free payment acceptance framework.

A multitude of payment processing services are available, providing user-friendly interfaces and seamless integration with your website or point-of-sale (POS) system. Notable options include Square, Stripe, and PayPal. These systems offer flexibility and effortless customization to align with your business objectives.

These payment processors allow you to accept a diverse array of payment methods, encompassing credit and debit cards, ACH transfers, digital wallets like Apple Pay and Google Pay, and many more. Opting for a dependable payment processing service empowers your customers to pay using their preferred methods through a secure platform, ensuring a smooth transaction experience for both you and your clients.

In addition to selecting a payment processor, it’s vital to establish sales tax compliance in Wyoming. This entails obtaining a Wyoming Sales and Use Tax Permit from the Wyoming Department of Revenue, enabling you to collect sales tax on taxable goods and services.

Once your payment infrastructure is in place, your Wyoming-based business will be well-equipped to serve customers efficiently and securely, facilitating revenue generation.

By diligently following these steps, you will establish a legally compliant business in Wyoming.

Top 5 Business Registration Services for Wyoming Entrepreneurs

When it comes to registering a business in Wyoming, entrepreneurs and small business owners have access to various professional business registration services. These services offer comprehensive solutions to facilitate business establishment and ensure compliance with both state and federal regulations. Here are some of the top business registration services available for Wyoming entrepreneurs:

ZenBusiness

ZenBusiness is a reputable online business registration service specializing in business formation, registered agent services, and annual report filing. With affordable pricing options, ZenBusiness provides personalized support and a wealth of resources to help businesses maintain compliance and drive growth. It’s a user-friendly website, and streamlined processes make business registration in Wyoming a seamless experience.

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Swyft Filings

Swyft Filings is a well-known business registration service that offers efficient and straightforward business formation, including LLC formation, incorporation, and compliance services. With personalized support and valuable resources, Swyft Filings simplifies the formation process and helps businesses adhere to state and federal regulations. Entrepreneurs find registering their businesses in Wyoming hassle-free, thanks to Swyft Filings’ user-friendly website and cost-effective pricing.

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Tailor Brands

Tailor Brands is an online branding and design service that assists businesses in creating a cohesive and professional brand identity. Their branding packages include logo design, business card design, and social media branding. Additionally, Tailor Brands offers design tools and resources for businesses to customize their branded assets. While not a conventional business registration service, Tailor Brands helps Wyoming businesses project a professional image to attract customers.

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Northwest Registered Agent

Northwest Registered Agent is a reputable online LLc registration service specializing in registered agent services, compliance management, and document filing. With a strong reputation for quality and exceptional customer service, Northwest Registered Agent provides personalized support to help businesses maintain compliance with state and federal regulations. They offer a wide range of business formation services for LLCs, corporations, and nonprofits in Wyoming.

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Bizee (Previously Incfile)

Bizee is a trusted online business registration service that offers fast and cost-effective business formation services. Their comprehensive packages include registered agent services, compliance management, and document filing. With a user-friendly and streamlined platform, bizee simplifies the business registration process in Wyoming. They also provide ongoing support and resources to assist businesses in compliance and growth.

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Entrepreneurs in Wyoming can explore these business registration services to find the one that best suits their specific needs. By conducting thorough research and comparing these services, entrepreneurs can ensure an efficient and effective registration process for their businesses in Wyoming.

Business Registration Laws in Wyoming

In Wyoming, the process of registering a business involves complying with certain laws and regulations. Here are some key points to consider when registering a business in Wyoming:

• Business Structures: Wyoming allows several business structures, including sole proprietorships, partnerships, Limited Liability Companies (LLCs), corporations, and nonprofit organizations. Each structure has its requirements and legal implications.

• Business Name: When registering a business, you need to choose a unique name that’s not already in use by another registered business in Wyoming. You can check the availability of a business name on the Wyoming Secretary of State’s website.

• Articles of Organization/Incorporation: To register an LLC or corporation, you’ll need to file the appropriate formation documents. For an LLC, you file Articles of Organization, while for a corporation, you file Articles of Incorporation. These documents provide information about your business, such as its name, purpose, registered agent, and the names of its members or directors.

• Registered Agent: Wyoming requires businesses to have a registered agent who is a resident of Wyoming or a company authorized to do business in Wyoming. The registered agent is responsible for receiving legal and official documents on behalf of the business.

• Business Licenses and Permits: Depending on the nature of your business, you may need to obtain additional licenses, permits, or registrations at the local, state, or federal level. The specific requirements vary based on your business activities.

• Employer Identification Number (EIN): If your business has employees or if you operate as a corporation or partnership, you’ll generally need to obtain an EIN from the Internal Revenue Service (IRS). You can apply for an EIN online through the IRS website.

• Taxes and Reporting: Wyoming has no state income tax, but businesses are still subject to federal taxes and may have other tax obligations such as sales tax or employment taxes. It’s important to understand your tax obligations and consult with an accountant or tax professional.

• Ongoing Compliance: After registering your business, you’ll need to comply with ongoing requirements such as filing annual reports, renewing licenses, and maintaining good standing with the Wyoming Secretary of State.

It’s recommended to visit the Wyoming Secretary of State’s website for detailed information on business registration, forms, fees, and any recent updates to the laws and regulations. Additionally, consulting with an attorney or business advisor can provide you with tailored guidance based on your specific business needs.

Alternative Business Registration Methods in Wyoming

In Wyoming, businesses can be registered through various methods, including alternative methods. Here are some alternative business registration methods available in Wyoming:

Online Registration

Wyoming offers online registration through the Wyoming Secretary of State’s website. You can access the Wyoming Business Center (WBC) online portal to file your business registration documents electronically. This method is convenient and allows for faster processing times.

Mail or Fax

Alternatively, you can register your business by mailing or faxing the required documents to the Wyoming Secretary of State’s office. You will need to download the appropriate forms from their website, complete them, and send them to the specified address or fax number.

Business Formation Companies

Business formation companies are similar to incorporation services but provide a broader range of services beyond just registration. They can help with various aspects of starting a business, such as obtaining an Employer Identification Number (EIN), drafting operating agreements, obtaining business licenses, and more.

Attorney or CPA Assistance

Another alternative is to seek the assistance of an attorney or certified public accountant (CPA) who has experience with business registration in Wyoming. They can help you navigate the process, ensure compliance with relevant regulations, and provide guidance on legal and tax considerations.

Remember that while alternative methods can streamline the registration process, it’s crucial to ensure compliance with Wyoming state regulations and any specific requirements for your type of business. It’s recommended to consult with an attorney or professional service to ensure accurate and timely registration.

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Benefits of Registering Your Business in Wyoming

Registering a business in Wyoming offers several benefits that make it an attractive choice for entrepreneurs. Here are some of the key advantages:

• Business-Friendly Environment: Wyoming is known for its business-friendly environment and has consistently ranked as one of the best states for business in the United States. It has low taxes, minimal government regulations, and a favorable legal climate, which makes it easier for businesses to operate and thrive.

• Low Taxes: Wyoming is one of the most tax-friendly states in the U.S. It has no state income tax, no corporate income tax, and no franchise tax. This can result in significant cost savings for businesses, allowing them to reinvest more money into their operations or expand their ventures.

• Asset Protection: Wyoming provides excellent asset protection for business owners. It offers strong limited liability protection, which means that business owners’ personal assets are generally protected from business liabilities and lawsuits. This protection can be particularly beneficial for businesses in high-risk industries or those with significant assets.

• Privacy and Confidentiality: Wyoming allows for a high level of privacy and confidentiality for business owners. The state does not require the disclosure of the names of shareholders or officers in public records, which can be advantageous for those who value their privacy or want to maintain anonymity.

• Ease of Business Formation: Registering a business in Wyoming is relatively straightforward and has minimal bureaucratic hurdles. The state has a streamlined process for business formation and offers online registration, making it convenient and efficient for entrepreneurs to establish their businesses.

• Wyoming LLC Advantages: Limited Liability Companies (LLCs) in Wyoming enjoy additional benefits. They have flexible management structures, can be formed with a single member, and have fewer ongoing compliance requirements compared to other states. Wyoming LLCs also offer to charge order protection, which safeguards the assets of the LLC from personal creditor claims.

• Access to Resources: Despite being a smaller state in terms of population, Wyoming offers access to abundant natural resources such as coal, oil, natural gas, and minerals. This can be advantageous for businesses in industries such as energy, mining, and agriculture.

It’s important to note that while Wyoming offers numerous benefits, it may not be the ideal choice for every business. Factors such as the nature of your business, your target market, and your specific requirements should be considered when deciding where to register your business. Consulting with a legal or financial professional can provide personalized guidance based on your unique circumstances.

Is Business Registration Required in Wyoming? Find Out Here

Undoubtedly, in Wyoming, the majority of businesses are obligated to complete registration procedures with the state. The specific requirements for registration differ depending on the type of business entity, the nature of the business, and various other factors. Notable registration obligations encompass obtaining a Wyoming Sales and Use Tax Permit, registering a Wyoming Limited Liability Company (LLC) or Corporation, and acquiring professional licenses or permits relevant to specific industries.

To navigate the regulatory landscape successfully and prevent potential legal and financial repercussions, it’s crucial to conduct thorough research into the specific registration requirements applicable to your business in Wyoming.

How to Register Your Business in Wyoming – Frequently Asked Questions

What Do I Need to Register a Business in Wyoming?

To register a business in Wyoming, you must thoughtfully select an appropriate business name, determine the most suitable legal structure, and meticulously complete the necessary paperwork for submission to the Wyoming Secretary of State. 

The exact requirements will vary depending on the nature of your business but typically involve filing Articles of Organization, designating a registered agent, and obtaining any essential licenses or permits.

How Much Does It Cost to Register a Company in Wyoming?

The cost of registering a company in Wyoming varies based on the legal structure and the specific filing requirements. For an LLC, the filing fee for Articles of Organization is $100, while for a corporation, it’s $100 as well. It’s essential to note that supplementary fees may be applicable for other filings and permits that are relevant to your business activities.

Can a Foreigner Start a Business in Wyoming?

Foreign nationals are eligible to embark on business ventures within the state of Wyoming, provided they satisfy the requisite legal criteria. This typically entails acquiring the necessary visas or work permits and complying with the registration obligations mandated by both state and federal regulatory bodies.

Do I Need to Register My Online Business in Wyoming?

If you’re engaged in online business registration in Wyoming, it’s advisable to evaluate the requirement of registering your business with the state, taking into account the nature and structure of your online operations. While sole proprietorships and partnerships may not necessitate registration, corporations and LLCs are generally expected to register.

Furthermore, you may need to secure specific permits and licenses, such as a sales tax permit from the Wyoming Department of Revenue. 

To navigate Wyoming’s business regulations effectively, it’s recommended to consult with a qualified attorney or accountant who possesses a comprehensive understanding of the state’s legal framework.

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Bottom Line on How to Register Your Business in Wyoming

Registering your business in Wyoming is essential for complying with state laws and regulations. By carefully following the required steps and meeting all the necessary criteria, you can set a solid foundation for your business.

Start by choosing a business name and legal structure that fits the guidelines of the Wyoming Secretary of State. Next, complete the necessary paperwork and secure any licenses and permits relevant to your industry and location. To simplify the process and ensure full compliance, consider using a trusted business registration service like ZenBusiness.

By investing the time and effort to correctly register your business in Wyoming, you’ll avoid potential legal and financial issues and set your company up for lasting success.

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