When it comes to incorporating a business in the United States, Wyoming has emerged as one of the most attractive options for entrepreneurs and investors, particularly for non-residents seeking Wyoming LLC formation services. While Delaware is often considered the traditional choice for incorporation (learn more about Delaware incorporation here), Wyoming offers a compelling alternative with its business-friendly environment, exceptional privacy protections, and zero state corporate taxation.
According to the Tax Foundation’s 2025 State Tax Competitiveness Index, Wyoming ranks #1 overall for business-friendly tax structures. This ranking is confirmed by the Tax Foundation, which acknowledges Wyoming’s favorable tax system. With strong asset protection laws and minimal reporting requirements, this exceptional ranking makes Wyoming an ideal jurisdiction for privacy-conscious entrepreneurs, real estate investors, digital nomads, and small business owners seeking asset protection. The state provides numerous advantages for companies seeking to establish a strong foundation for growth and success in the American market. However, it is essential to consider both the benefits and potential drawbacks before making your final decision.
Pros of Incorporating a Company in Wyoming, USA [2025]
In recent years, Wyoming’s business-friendly laws, minimal taxation, and strong privacy protections have attracted many corporations and LLCs. Explore the advantages of incorporating your business in Wyoming below.
✔️ No State Income Taxes: Wyoming is one of the few states that does not impose state income taxes on individuals or businesses. This means that corporations and LLCs formed in Wyoming do not pay state corporate income tax, franchise tax, or personal income tax on business income, resulting in significant savings for business owners.
✔️ Strong Asset Protection Laws: Wyoming offers some of the strongest asset protection laws in the United States. The state’s charging order protection for LLCs is particularly robust, making it difficult for creditors to reach business owners’ personal assets. While charging order protection primarily benefits LLC members, Wyoming C-corporations also enjoy strong liability shields that separate business and personal assets, providing legal separation between shareholders and corporate liabilities. This provides an exceptional level of security for entrepreneurs and investors regardless of business structure.
✔️ Enhanced Privacy Protection: ✔️ Enhanced Privacy Protection: Wyoming offers remarkable privacy protections for business owners. Unlike many other states, Wyoming does not require disclosing member or manager information in public filings for LLCs. Similarly, for C-corporations, Wyoming allows shareholders’ names to remain private in public records, with only directors and officers listed on annual reports. This means that both LLC members/managers and corporate shareholders can maintain confidentiality, protecting sensitive personal information from public view.
✔️ Low Formation and Maintenance Costs: The cost of forming and maintaining a business entity in Wyoming is significantly lower than in many other states. Filing fees are reasonable, and the annual report fee is minimal, making Wyoming an economically attractive option for startups and small businesses. In fact, incorporating in Wyoming costs approximately 40-60% less than Delaware when considering initial filing fees and ongoing maintenance costs. While Delaware’s annual franchise tax can range from $175 to over $200,000 based on corporate structure and assets, Wyoming’s annual report fee starts at just $60 for most businesses.
✔️ Minimal Reporting Requirements: Wyoming has minimal annual reporting requirements, reducing business owners’ administrative burdens. The annual report filing is straightforward and can be completed online, saving time and resources for business operations.
✔️ Perpetual Existence: Wyoming LLCs and corporations can have perpetual existence, meaning they can continue operating indefinitely regardless of ownership changes. This ensures business continuity and stability, particularly valuable for long-term business planning.
Disadvantages of Incorporating in Wyoming, USA [2025]
Although Wyoming offers numerous benefits, there are also some disadvantages and considerations to keep in mind:
❌ Physical Distance: The physical distance can present challenges for non-residents or businesses primarily operating outside of Wyoming. While most administrative tasks can be handled remotely, certain situations might require physical presence or local representation in the state.
❌ Banking Challenges for Non-Residents: Non-resident business owners may face challenges when opening a U.S. bank account for their Wyoming entity. Due to stringent anti-money laundering regulations, many U.S. banks require in-person visits and substantial documentation from non-resident business owners. However, it’s important to note that you’re not limited to banking in Wyoming—you can open a business account in any state, regardless of where your company is registered. Some online banks and fintech solutions now offer more flexible options for non-resident business owners.
❌ Limited Established Case Law: Unlike Delaware, which has an extensive business case law and specialized business courts (as detailed in our Delaware incorporation guide), Wyoming has a less developed court precedent for business disputes. This could potentially lead to less predictability in legal outcomes if disputes arise. However, for many small businesses and LLCs, Wyoming’s significant tax and privacy benefits often outweigh this disadvantage.
How to register a business in Wyoming?
Registering a business in Wyoming, particularly for non-residents, involves several straightforward steps. Our comprehensive guide walks you through the Wyoming business filing process to ensure you complete your Wyoming LLC formation correctly. Below is a detailed outline of the process with current filing requirements for 2025.
1. Choose Your Wyoming Business Structure
Determine the type of legal structure you want for your business:
Limited Liability Company (LLC): Most popular for small businesses due to flexibility and tax benefits
Corporation (Inc.): Suitable for larger operations or those planning to issue stock
Series LLC: Allows for multiple “series” of assets under one LLC umbrella
Close Corporation: For smaller corporations with few shareholders
Wyoming is particularly known for its favorable LLC laws, with approximately 87% of new business filings being LLCs.
2. Conduct a Wyoming Business Entity Search
Before finalizing your business name:
Enter your desired business name
Verify availability to ensure compliance with Wyoming naming rules
Reserve your name for up to 120 days for $50 if needed
💡 Pro Tip: Wyoming business names must include “LLC,” “L.L.C.,” “Limited Liability Company,” “Corporation,” “Inc.,” or similar designators depending on your entity type.
3. Appoint a Wyoming Registered Agent
Select a registered agent who will:
Serve as your business’s official point of contact in Wyoming
Receive legal and official documents on behalf of your company
Maintain a physical street address (not a P.O. box) in Wyoming
Be available during normal business hours
Hiring a professional Wyoming registered agent service is typically the most efficient option, with costs ranging from approximately $125-$300 annually. While being your own registered agent is technically free, it requires that you physically reside in Wyoming or have a physical office location in the state, maintain constant availability during business hours, and accept that your personal address becomes public record. For non-residents, a professional registered agent service is not just convenient but necessary to meet the state’s legal requirements.
4. Prepare and File Wyoming Formation Documents
Submit the appropriate formation documents to the Wyoming Secretary of State:
For an LLC:
File Articles of Organization ($100 filing fee, or $104 if filing online)
Processing time: Processing time: Up to 15 days for mail filings (standard), with expedited options available for faster processing.
Submit online through Wyoming Secretary of State Business Center
For a Corporation:
File Articles of Incorporation ($100 minimum filing fee)
Additional fees based on number of shares
Include required information about directors, registered agent, and share structure
5. Create Essential Governing Documents
Draft internal governing documents for your business:
For an LLC:
Operating Agreement (not filed with state but legally important)
Should detail ownership percentages, member responsibilities, profit distribution
For a Corporation:
Corporate Bylaws
Shareholder Agreements
Initial Board Resolutions
6. Obtain Federal Tax ID (EIN)
Apply for an Employer Identification Number with the IRS:
Complete Form SS-4 or apply online at IRS.gov
Non-US residents without SSN can apply by mail or fax
No IRS filing fee required, though third-party filing services ($75-150) are available to ensure accurate completion and prevent delays
Processing time: Immediate (online) or 4-5 weeks (mail)
💡 Pro Tip: For non-US residents, professional EIN acquisition services can navigate complex IRS requirements and significantly reduce the risk of delays or rejection.
7. Set Up Business Banking
Establish a business bank account for your Wyoming entity:
Prevents commingling of personal and business finances
Strengthens corporate veil protection
Required documents typically include:
EIN documentation
Wyoming business filing documents
Operating Agreement or Bylaws
Personal identification (passport for non-residents)
* You can open an account in any state or with an online bank—it doesn’t need to be in Wyoming
8. Comply with Wyoming Annual Requirements
Maintain good standing with Wyoming by:
Filing an annual report by the first day of your anniversary month; Paying the annual license tax (minimum $60 for most businesses, or $0.0002 per dollar of assets if assets located in Wyoming exceed $250,000-$300,000)
Paying the annual license tax (minimum $50 for most businesses)
Updating any changes to registered agent or principal office information
Maintaining compliance with any industry-specific requirements
📅 Important: Mark your calendar for annual filings—missing them can result in penalties or administrative dissolution. Or use a third-party entity manager to handle compliance requirements and ensure timely filings.
Yearly Comparison of Company Registrations in Wyoming
According to the Wyoming Secretary of State’s office, Wyoming has seen a steady increase in business registrations over recent years, making it one of the fastest-growing states for new business formation. The Wyoming business entity search system reported over 28,000 new filings in 2024 alone. Below, you can see the comparison of LLCs, Corporations, and Total Business Entities registered in Wyoming in 2022, 2023, and 2024.
Wyoming Business Entity Type | 2022 CY | 2023 CY | 2024 CY | % Growth (2022-2024) |
LLCs | 18,724 | 21,156 | 24,892 | 32.9% |
Corporations | 2,843 | 3,012 | 3,245 | 14.1% |
LPs/LLPs | 187 | 204 | 235 | 25.7% |
Total Business Entities | 21,754 | 24,372 | 28,372 | 30.4% |
Source: Wyoming Secretary of State Business Division, 2025 Report
“Wyoming offers a compelling business environment with its combination of privacy, asset protection, and tax advantages. For entrepreneurs looking to establish a US presence with minimal bureaucracy and maximum protection, Wyoming represents an ideal jurisdiction for corporate formation.”
Jamie Neill, HR & Client Service Manager at Foothold America
Wyoming vs. Delaware: State Incorporation Comparison
While Delaware remains the most popular state for incorporation (especially for large corporations and publicly traded companies), Wyoming offers distinct advantages that make it particularly attractive for small businesses, LLCs, and privacy-conscious entrepreneurs. Delaware’s advantages focus on its established legal system and corporate governance, whereas Wyoming excels in tax benefits, privacy protection, and lower maintenance costs.
Feature | Wyoming | Delaware |
State Income Tax | None | 8.7% Corporate Tax |
Franchise Tax | None | $175-$200,000+ annual |
Annual Report Fee | $60 (minimum) | $50-$250 |
Privacy Protection | High (no public disclosure of members) | Limited |
Asset Protection | Strong charging order protection | Standard |
Court System | Regular state courts | Specialized Court of Chancery |
Filing Speed | 3-5 business days standard | 3-4 weeks standard |
Initial Filing Cost | $100-$102 for LLC; $100 minimum for C-Corporation | $89-$239 for LLC; $89 minimum for C-Corporation |
Best For | Small businesses, asset protection, privacy | Public corporations, established case law |
For a complete comparison of these two incorporation powerhouses, see our detailed Delaware incorporation guide.
Wyoming Business Climate: Key Facts for US Expansion
When considering business expansion and setting up a Wyoming LLC or corporation, there are several key state facts that make it an attractive destination for entrepreneurs seeking Wyoming business registration:
Geographic & Economic Advantages
👌 Strategic Western Location Located in the Mountain West region, Wyoming provides access to major western markets while offering significantly lower operating costs than neighboring states like Colorado or Utah. With its central location, businesses can reach major metropolitan areas like Denver, Salt Lake City, and Billings within a day’s drive.
👌 Specific Location Benefits
Cheyenne: The state capital offers proximity to Colorado’s Front Range and access to major transportation corridors
Jackson: Premium tourism market with wealthy clientele and strong real estate values
Casper: Central location with energy industry connections and diversifying economy
Laramie: University town with educated workforce and growing tech presence
Financial Advantages
👌 #1 Business-Friendly Tax Environment Wyoming consistently ranks as the #1 most tax-friendly state for businesses according to the Tax Foundation’s State Business Tax Climate Index, with:
No state corporate income tax (federal corporate taxes still apply)
No state personal income tax
No franchise tax
No gross receipts tax
No inventory tax
No tax on intangible assets
👌 Significantly Lower Cost of Doing Business
With lower labor costs (average 15-20% below national average), reasonable real estate prices (median commercial lease rates 30-40% lower than neighboring Colorado), and minimal regulatory burdens, Wyoming offers a cost-effective environment for business operations compared to other western states.
Legal & Business Structure Advantages
👌 Superior Asset Protection Framework
Wyoming offers some of the strongest asset protection laws in the country, including:
Charging Order Protection: Limits creditors’ rights to economic distributions only
Two-year statute of limitations on fraudulent transfer claims (vs. 4-7 years in most states)
No “exception creditors” who can pierce the corporate veil
Strong privacy protections that shield ownership information
👌 Industry-Specific Opportunities
Wyoming has a diverse economy with particular strengths in:
Energy production (traditional and renewable)
Tourism and hospitality ($3.95 billion industry)
Agriculture and ranching
Technology and remote work businesses
Blockchain and cryptocurrency (with favorable regulatory framework)
The state actively encourages business diversification through programs like the Wyoming Business Council’s Business Ready Community Grant and Loan Program, which has invested over $50 million in economic development infrastructure.
These state facts contribute to Wyoming’s growing reputation as an excellent location for businesses looking to expand. It offers a supportive environment, strong legal protections, favorable tax policies, and a business-friendly regulatory framework that fosters growth and stability.
Register Your Wyoming LLC or Corporation Today
Don’t let the complexities of Wyoming business registration hold you back from accessing one of America’s most business-friendly states. Our specialized Wyoming LLC formation service can help you register your business with ease and confidence, whether you’re a US resident or international entrepreneur.
Why Choose Our Wyoming Incorporation Service?
✅ Complete Wyoming Filing Package – All necessary documents prepared and filed with the Wyoming Secretary of State
✅ Wyoming Registered Agent Service – Fulfills your legal requirement for a Wyoming physical address
✅ Customized Wyoming Operating Agreement – Legally tailored to your specific business needs
✅ Tax ID (EIN) Acquisition Assistance – Simplifies the process for non-US residents without SSNs
With our deep understanding of Wyoming incorporation laws and regulations, we can guide you through every step of the Wyoming business filing process, providing peace of mind and ensuring compliance. Our experienced team, dedicated to understanding your unique business goals, will tailor a Wyoming-specific solution that meets your specific needs and maximizes the state’s benefits for your situation.
Frequently Asked Questions About Wyoming Incorporation
Get answers to all your questions and take the first step towards a US business expansion.
Forming a Wyoming corporation or LLC offers numerous advantages that make it an attractive option for business owners. Wyoming provides exceptional asset protection through strong state laws that shield your business assets from personal liabilities. As part of the process, you’ll benefit from Wyoming’s business-friendly tax environment with no state income tax, no franchise tax, and minimal state fees compared to other jurisdictions. The Wyoming Department of Revenue doesn’t impose sales tax on services, creating additional financial considerations that favor business formation in this state. Wyoming also offers enhanced privacy protection, with minimal disclosure requirements for company ownership. These benefits make Wyoming incorporation particularly valuable for entrepreneurs seeking asset protection trusts, real estate investors, and business owners looking to minimize tax burdens while maximizing legal protections.
Incorporating in Wyoming is remarkably cost-effective compared to many other states. The initial filing fee for a Wyoming company is $100 for most business entities, with an annual report fee starting at just $60, due on the first day of your anniversary month. While some states charge higher fees based on authorized shares or business revenue, Wyoming maintains flat, predictable state fees regardless of company size. Your total costs will include:
Initial filing fee: $100
Registered agent service (if you don’t have a Wyoming business address): $125-300 annually
Annual report fee: Minimum $60
Federal Employer Identification Number (EIN) application: Free (if applied directly with the Internal Revenue Service)
When comparing to other popular incorporation states like Delaware, Wyoming typically saves businesses 40-60% on both initial and ongoing maintenance costs. Additionally, Wyoming doesn’t impose the substantial franchise taxes that can make maintaining a company in other states prohibitively expensive for small businesses.
Wyoming stands out as one of the most favorable states for non-US residents to incorporate, particularly those without a Social Security Number. The state’s business formation process accommodates international entrepreneurs through several key advantages:
Wyoming allows company formation without requiring a SSN for the business organizer
A Wyoming mailing address can be established through your registered agent
Federal Employer Identification Number (EIN) acquisition is possible for non-US residents through alternative documentation methods
Banking options, while still requiring due diligence, are often more accessible for Wyoming entities than those from other states
Remote management is fully supported, with no requirements for physical presence in the state
While Delaware is often considered for international business formation, Wyoming typically offers lower costs, stronger privacy protections, and a more straightforward process for new Wyoming businesses operated by non-US residents. However, international entrepreneurs should consider working with a professional formation service to navigate the specific requirements for non-residents.
Maintaining your Wyoming company in good standing requires minimal administrative effort compared to most states. The primary ongoing requirements include:
Annual Report Filing: Due on the first day of your anniversary month each year, with a minimum fee of $60 (higher for companies with significant assets located in Wyoming)
Maintaining a Registered Agent: Your Wyoming company must continuously maintain a registered agent with a physical Wyoming business address to receive legal documents and official correspondence
Federal Tax Filings: While Wyoming doesn’t impose state income tax, you must still comply with Internal Revenue Service requirements for federal tax reporting
Business License Renewals: Depending on your industry, you may need to renew certain professional or industry-specific licenses
Records Maintenance: While not submitted to the state, you should maintain updated internal company records, including operating agreements, membership certificates, and meeting minutes
Unlike many states, Wyoming doesn’t require business entities to file biennial reports, franchise tax returns, or other complex documentation. This streamlined compliance framework makes Wyoming particularly attractive for entrepreneurs seeking minimal administrative burdens.
Wyoming offers one of the strongest asset protection frameworks in the United States, significantly outperforming many popular incorporation states in several key areas:
Charging Order Protection: Wyoming state law limits creditors to a charging order as the exclusive remedy against LLC membership interests. This means creditors can only receive distributions if and when they occur, but cannot force distributions or seize company assets.
Series LLC Structure: Wyoming allows for Series LLCs, enabling multiple “protected series” within a single LLC, each with its own liability shield—ideal for real estate investors or business owners with multiple ventures.
Limited Disclosure Requirements: Unlike many states that require public disclosure of all members/managers, Wyoming allows greater privacy for business ownership information.
Statutorily-Protected LLC Veil: Wyoming has strong statutory protections against “piercing the corporate veil,” making it more difficult for creditors to reach personal assets of business owners.
Fraudulent Transfer Lookback Period: Wyoming has a shorter statute of limitations (2 years) for fraudulent transfer claims compared to many states (4-7 years).
When compared to Delaware, which is known for its corporate law expertise but has less robust LLC protection, Wyoming often provides superior asset protection for smaller businesses and LLCs. Nevada offers comparable protection but with higher state fees and more complex reporting requirements. This comprehensive protection framework makes Wyoming particularly valuable for business owners with significant personal or business assets requiring protection from potential litigation.
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Contact Us
Complete the form below, and one of our US expansion experts will get back to you shortly to book a meeting with you. During the call, we will discuss your business requirements, walk you through our services in more detail and answer any questions you might have.
