Forming an LLC in Wyoming (Preliminary information)
In this article, we discuss in detail the costs of forming an llc in the state of Wyoming, how you can form your company at the most affordable price, and the steps you need to take.
The state of Wyoming is a state that attracts the attention of foreign entrepreneurs, especially due to its low annual state fees for forming an LLC company. Foreigners who do not live in Usa can form an llc remotely in the state of Wyoming. The state of Wyoming, like other states, has no personal income tax.
Wyoming is a state with less red tape, secrecy and especially the best asset protection system. Amazon has recently become more preferred for remote entrepreneurs such as Dropshipping, online marketing, and digital product and service sales.
If you set up an llc in the state of Wyoming with Northwest Agent, they also accept amazon verification codes. For this reason, we can say that Wyoming is a state compatible with the Amazon business type.
Wyoming LLCs are a more convenient and flexible business type than Corp-type companies. LLCs protect your personal assets from lawsuits and penalties filed against you.
in Wyoming are simple to set up and have low maintenance requirements. It has various options and flexibility regarding taxation. It allows multi-member LLCs from single-member businesses, which is why it's so popular.
In the state of Wyoming, the annual filing fee is $50. In the initial setup, the state charges the entrepreneur a $100 filing fee, but each subsequent year the company owner must pay the state $50. These annual expenses are quite affordable for a Wyoming LLC.
Costs
LLC Company Formation Prices
| Service | Price | One-Time Payment | Annual Payment |
| Fee to be Paid to the State During LLC Company Formment | 100$ | ✔ | – |
| Annual Filing (Franchise Tax) | 50$ | – | ✔ |
| Phone Number $2/Month | 20$ | – | ✔ |
| Total: | 100$ | 70$ |
Registered Agent Selection
When you decide to form an LLC in Usa, you have to get the service of a Registered Agent. These organizations are authorized by the state. There are many companies that do this job and each agency offers different prices and services.
Below is a list of the most formed and reliable ones. You can also read a review of all of them by clicking on them.
Agency List
Northwest ($39, Address included) *Recommended
Inc Authority (Free)
MyCompanyWorks ($79)
CorpNet ($79)
the full list and detailed review page of Registered Agent companies that establish LLCs from this link .
Additional Costs
* EIN is available free of charge through the IRS. You can fill out a form called SS4 yourself and fax it to the IRS. There is a detailed explanation in this article . If you wish, registered agents can obtain the EIN for you during installation for a fee, and you can add the service to the installation for an extra fee.
** Company setup fee varies depending on the Registered Agent company.
*** In America, the virtual address is not included in most Registered Agent packages. When you receive service through Northwest Registered Agent, the address is included in the package and you do not have to pay an extra annual address fee. this company for the address for $15 (one-time payment), or there are different economical solutions in the article Companies Providing Virtual Addresses in America
How to Form an LLC in Wyoming? Steps
You can form a remote LLC online in the state of Wyoming. For installation you need an agent, a US mailing address details are below.
- Determine Your Company Name: First, you must determine the name of your LLC company. There should be no conflicts with company names already in the state database. So do a search on the state website Choosing a Name for an LLC for name rules .
- Get a Domain Name for Your Company: Check if the website domain name you will create for the business name you choose has been registered before. With Namecheap you can quickly register an llc domain name so that no one else can get and use your domain name in the future.
Find a domain name starting from $0.88
powered by Namecheap
- Get a Phone Number with an American Area Code (Not Required): Zadarma for the virtual number . It has the ability to receive SMS and mobile application support. There is a monthly fee of $2. Zadarma from this link and start using it by installing their mobile application.
- Choose a Registered Agent: Choose a Registered Agent to set up your company and keep it active. There is a lot of information and pricing on the review page here
- Prepare an Operating Agreement: This is an operating agreement that determines the management style and rules of the company. It is not required to be created in many states, and it is not required in this state either. It is recommended to create a contract, but you do not need to mail this contract to the state, just keep the contract you prepared and signed. Zenbusiness or Northwest this operating agreement document for you free of charge during company establishment . If you have established your company for free from an agency such as Incfile and do not want to pay for documents, you can create one yourself for free, details and how to do it in this article .
The approval period for an LLC company takes 1 week for the state of Wyoming. Sometimes transactions can be completed earlier. However, if you want faster installation and are in a hurry, you can shorten the process by paying extra to the Registered Agent.
After starting the installation process, you will be asked to digitally sign some documents. You will sign these digitally. No passport or ID is required.
What happens after your LLC company is approved in the state of Wyoming?
- After the company is formed, your agency will send you company formation documents. When the process is completed, they will deliver your company formation document to you digitally. You can ask your agency to mail the original signed copies by paying an extra fee, but digital copies will be more than enough for you.
- Once the company is incorporated and you receive the documents (digitally), obtain a Federal Identification Number (EIN) from the IRS. Without EIN, you cannot open a bank account or register in payment systems. If you want an EIN, you can get it from the agency by paying an extra fee during the company establishment phase, or you can fill out the SS4 form yourself and fax it to the IRS. the guide here .
- To maintain the health of your LLC after formment, pay state tax (Franchise Tax) and registered agent fees every year.
State Requirements and Taxes
Federal Taxes: As previously mentioned, LLCs are taxed as individuals unless otherwise noted. This means that LLCs do not pay income taxes directly to the federal government. In this case, company owners indicate their business income and losses in their personal statements. LLCs are flexible in their tax structure; you can choose to be taxed like a corporation if you wish. In this case, you will need to submit a separate corporate tax return.
State: When it comes to LLC taxes at the state level, Wyoming differs from most states. The government does not collect personal income tax or corporate income tax. So if you're only responsible for taxes at the federal level (it depends on whether you choose to tax the LLC as an individual or a corporation) you're only liable for it.
Sales Tax: If you sell to residents within the state, Wyoming LLCs must collect and remit sales taxes to the state ( If you exceed the limits ). The average sales tax rate in Wyoming is 4%. Learn more about sales tax rates and requirements with this guide
If You Have Employees: LLC owners who have employees must pay some taxes. For example, in Wyoming, employers are also required to pay into the state's unemployment insurance. Although this is not technically a tax, it must be paid regularly. more information about this fund at the Wyoming Department of Workforce Services .
Extra Taxes: In addition to these general taxes, Wyoming also imposes specific taxes on certain industries. For example, there are different taxes for contractors, motor vehicles, and more. You can learn more about state taxes from the Wyoming Department of Revenue
For more information about taxes, you can check out the article Taxation in America
These special guides may also attract your attention.
- , I recommend you to read this guide to establish your LLC company in the state of Kentucky for $ 55 all-inclusive
50 Comments . New Comment
Hello,
Unfortunately, since Stripe and Paypal are not available in Turkey, I am thinking of forming an llc in Usa. The priority for the projects is donations from sites such as Ko-Fi or crowdfunding from places like Kickstarter, so I try to keep the initial costs low until a significant payment comes. Would you recommend the Wyoming company in this sense?
There is also the declaration/accountant cost, which is the scariest among the costs because it is aphakic. Where can we get ideas on this subject?
Enjoy your work,
Hello
If you plan to raise funds or get support from startup platforms, Delaware would make more sense instead of Wyoming. The reason is that there is more trust in Delaware companies in such projects. Installation times and costs are almost the same.
Annual accounting costs are around 500 USD. Include this cost in your business plan. If you install it this year, you do not need to file a tax return until the end of March 2025. By that time, you will have completed your project.
Hello Mr. Nazmi,
First of all, thank you for the quick response. When I did research on the subject, I read comments from some people that Wyoming and Delaware companies were on their feet, so to speak, and that companies opened there might have problems with issues such as opening a bank account. Is there any truth to it?
I also saw that the most prominent bank was Mercury Bank. Would you have a chance to recommend this bank or another as a bank that does not cause any problems in terms of general banking and where opening an account is not difficult?
Enjoy your work,
Hello,
If you do not reside in the USA, there is no alternative other than opening an account with banks such as Mercurybank or Payoneer Business. Those who reside in the USA or those who will personally go and open an account at any bank do not have such a problem.
These banks we are talking about do not block companies formed in states such as Delaware or Wyoming, we do not know who is telling this information and why. We have people and followers who we follow directly and open accounts on these platforms every day. For this reason, it is more logical to look at concrete data rather than empty comments received from others.
Mercurybank is widely used and its transfer fees are economical, and it is very popular because there are not many alternatives.
Mercurybank only requires you to present a marketplace account belonging to a project, website or company owner when opening an account. These are the biggest conditions, if you present this, they don't look at the state or company type. However, there are nearly 50 states other than these states. If you want to take the comments into consideration, you will be able to install in different states.
Hello my master. When we complete the company setup in the Virtual Office, do we also obtain a US address in our name? For example, address verification is required for a PayPal account or membership to some sites, and official documents/invoices etc. are required for this. For this reason, can we use the relevant company address for ourselves as the company owner? Or is that address only in the name of the company? In this case, we cannot verify our own name.
Hello,
Services under the name of virtual office and mail forwarding are used as the contact and mailing addresses of companies in the USA. They are not provided to prove the residence of the company owner or any other person in that area. This type of address systems generally work in this way, and no provider gives any warranty / invoice for any other purpose than this. In virtual office services, they only provide a few-page contract PDF called the virtual office rental contract, which is not accepted for physical address verification purposes. It can only be used as proof of business address in some cases in marketplaces such as Amazon.
Mr. Nazmi,
you took the time and gave a satisfactory answer; Don't miss it.
Thanks.
Hello;
I live in Turkey and I will form an LLC company in the state of Wyoming, USA, and buy products from Amazon Usa and sell them in Amazon Canada. Do I need to pay income tax to Usa in this case?
I formed an LLC company in Wyoming in December 2023. I will import and sell from Turkey to a Turkish brand that has an llc in Usa. I will deliver the goods to their warehouse in Türkiye. How will I be taxed in this case?
Hello, it would be beneficial for you to consult a foreign trade expert on this issue.
Hello, when we formed an llc in Usa, Wyoming, how much is the total annual payment each year?
125 USD registered agent fee, 62 USD state fee.
Hello, I set up an LLC company on MyCompanyWorks, I will connect it to the Amazon account. When I select the LLC company type, it offers the S corporation, C corporation and Partnership options. I asked my agency by e-mail what type of LLC company was formed, and the answer I received was that this company is registered as an LLC. I already know that I have formed an LLC, but what type is it? Can you help me?
You can choose it as Partnership. As LLC, there is no company type in the Amazon system, but you can proceed by selecting Partnership.
Thank you for your answer. After selecting Business etc. in the Tax section (federal tax classification), after selecting LLC, there is an LLC type in a sub-tab; It offers S corporation, C corporation and partnership options.
Yes, I already mentioned in the previous comment that you should choose partnership :)
It will be of great benefit to you, I hope your business goes well.
Thank you, don't miss it.
Hello, May 2023, I formed an llc and defined it to Amazon. I sent products from Turkey and made sales, but I did not receive an invoice for any product. Now I will enter the tax declaration. How much tax will I pay when I do not submit an invoice? The money left from Amazon in 1 year was 40 thousand dollars.
Hello,
unfortunately tax calculation cannot be done here.
It is calculated by a professional according to the type of business, turnover and different variables.
The service in the link below is in a class suitable for a single-member LLC company. Place an order to receive service, our consultant business partner will contact you, listen to you, give you consultancy and make your declaration by calculating the tax in the appropriate class and informing you of the amount.
You can use the SOLE100 coupon code to get a 100 USD discounted service
https://www.tammentor.com/courses/1040nr-single-member-llc-tax-return?ref=90fc42
Hello, I established a company for Amazon in May 2023 in Wyoming. I also received a resale certificate from Illinois.
While selling, I have not introduced the company to my Amazon account yet, so it is at 0 income.
However, when I made the purchase, I introduced my resale certificate to the system and purchased the product tax-free, even though it was an individual buyer account.
Does this situation contain any errors as a result of the rules? What forms/declarations do I need to prepare along with their terms and conditions? Can you recommend a video or text that guides preparation? Thank you in advance
Hello,
Since you received a resale certificate, you need to make a tax return every 3 months from the panel given to you after you opened an account in Wyoming State. If there is no action, specify it as 0 (zero).
If you purchased goods from a wholesaler with your certificate, you need to refund the tax you collected from the sale of the products according to the state rate.
Hello,
I had to apply for a reseller certificate in Wyoming to buy products from wholesalers.
It is said that once you have this document, taxes must be paid every 3 months. When should someone who opened a company on May 12 pay his first tax?
Does it pay this only to the state or does it pay income tax?
I haven't even received my e-in number yet.
Hello, if you buy goods from a wholesaler and it is recorded on the certificate issued by the state, that is, your tax ID, yes, you need to make a tax refund to the state every 3 months. But if you have not traded, you can declare it as 0.
I'm sorry, Mr. Nazım, but I applied for a sales tax license, for which I paid 60 dollars, rather than a reseller certificate.
I don't know if they are the same thing, I don't see a certificate called reseller certificate to apply for anyway.
It's the same thing anyway. Reseller certificate, sales tax license, seller permit are all the same thing. You did it right, no problem. However, it may be beneficial to work with a consultant to return this.
You can see our consultant recommendations here.
https://startupsole.com/amerika-muhasebe-firmalari/
Hello, 3 days ago, I set up an llc with Northwest by following your instructions on your site. I bought a virtual address from ipostal1 for 10USD per month and entered that address as the company address. Northwest asks me to confirm my physical address. Is this standard procedure? Could I have done something wrong? Why does it want me to confirm my physical Türkiye address for company setup? I couldn't get a satisfactory answer, that's why I'm asking. Thanks
Hello, they want you to prove your Turkish residence address that you entered in the invoice and payment section. Sometimes this is necessary because they cannot verify the address you enter. Send them an invoice with your address. They process immediately
Thank you very much for your interest, sorry for taking up your time. I have been sending it to you since the day I wrote it. It says we do not accept invoices and credit card statements. He literally swore to see the address on his identity card. I've never seen anything like this. ipostal1 is regret. I got my residence address from the government. They wrote that the voter card is accepted. I registered to vote. I sent them all including ID, we are waiting. I will share the result with you. I didn't say why you asked for approval above. He had me approve USPS Form 1853 through Notarize, paying 25USD. He also wanted to confirm my address on the form.
You're welcome, unfortunately, companies such as anytimemailbox and ipostal1 and their equivalents generally create many procedures for approval during and after notary approval. That's why we, wyomingmailforwarding, do not want such procedures. We are melting now. Usps is a successful, affordable company that provides the suite number the next day without requiring any documents such as a notary or ID.
Hello again, I will take your advice into account and proceed as you said with my next company transactions. By the way, ipostal1 was approved last night. From here on, our address problem disappeared. I continue with you step by step. Thank you very much.
You're welcome, the approval phase was a bit painful for you, but from now on, as long as you make the payments, you won't have any problems. It is gratifying that you can continue after the problems have been resolved. We wish you success in your new formation. You can write to us whenever you need support.
Hello,
First of all, it is a site that truly provides incredible information. Thanks.
Coming to my question;
I am developing an application. I want to make these applications through an llc in Usa. As far as I understand, Wyoming is the best fit for my job. In terms of income, I will only generate income from Google and Apple stores. So Google and Apple will pay me monthly. He deducts his share from each sale and pays the remaining amount as a monthly lump sum. In such a case, will I still be stuck with the annual sales limit? So, for example, there were purchases for 300 applications in one month. Will this be understood as exceeding the direct limit?
I would be very happy if you have information.
Thanks again for the great information.
Enjoy your work,
Thanks for your comment.
If you open an account on these platforms through your US LLC and earn income, you may need to pay taxes through your LLC, depending on the source of income.
Platforms may possibly send you a 1099K or similar tax reporting form when you reach a certain sales level. When this happens, you should tell an accountant that you received a tax declaration form. It can deduct all your expenses (advertising, server, domain, SAAS software, etc.) from taxes and submit your tax declaration based on your income.
I understand Let me do some more research on the stores. Thanks a lot.
You're welcome, it would be beneficial to research. Conveniences.
Greetings, as the owner of a single-partner limited company in Turkey, I do business only from a USA-based Freelancer website. Customers are from all over the world (I also have US customers). When I research, I see that I have an advantage in states like Wyoming or Delaware. However, if we form an llc in these states, what will be the tax situation if the site where we do business is based in the USA?
Another issue: e.g. We founded the company in Wyoming. We started receiving payments. Do we have to make a transfer to our individual account in Turkey? (If we do this, will there be an income tax against TR?) Or can we withdraw foreign currency by using the ATM card defined by our bank in the USA at TR ATMs? Or can we make grocery / e-commerce purchases with these cards like a debit card?
Hello,
First of all, we cannot give tax advice on public platforms because unfortunately we do not have such expertise. But we can give you a summary of the details known to everyone;
If your customers are in the USA and you sell to people in different states, it does not matter which state your company is located in. What is important is how many checkouts you make annually to which states and your annual transaction turnover per state. If you are selling to residents of the US states, each state has limits and you will need to collect sales tax when you exceed these limits. Once you reach the level where you can collect sales tax (you will reach that level if you exceed the limits), by law you will have a physical connection to the US, which means you must pay taxes federally.
You can see the limits by state in the article at this link: https://startupsole.com/yabancilar-icin-abd-eyaletlerini-gore-satis-vergileri/
Here, you must choose one of the two to avoid federal tax or sales tax. Either you will not exceed the limits or you will sell to states with high limits. If you cannot choose both, both sales and income taxes must be declared.
As for the other issue, that part should be consulted with an accountant in TR. There are those who transfer money to individual accounts, open an account at Mercury Bank, and also buy a debit card and withdraw it from their ATMs. As far as we know, shopping can be done with these cards.
Hello, I want to supply goods from Turkey and sell in the USA-Amazon. Should I first form an llc in Turkey or should I purchase directly from a US company? Do I need to form an llc in both Turkey and the USA? After all, we will purchase goods from here?
Hello,
All the answers to your questions are available in the article and comments at the link below. I believe you will be enlightened.
https://startupsole.com/amazon-icin-amerikada-sirket-kurmak/
First of all, thank you for providing us with this useful site. I have never come across such a detailed and clear site before. Coming to my question:
If I establish a company in Turkey and provide the information requested by Amazon, can I officially sell on Amazon America?
Thanks for your comment.
An Amazon USA account can be opened through the seller account opened with the Türkiye company. Since the topic you are asking about is on a different topic, I am leaving a link here. If you watch the video on that topic, you will already get detailed information about it.
https://startupsole.com/amazon-icin-amerikada-sirket-kurmak/
Hello, I am thinking of forming a one-person LLC. My entire income source will be from advertising revenue and digital product sales. There will be no concrete product. If I do this business in a state with 0% income tax, do I have to pay only franchise tax or does sale tax also come into play? In such a business plan, is it more advantageous to represent the LLC as a personal or an llc?
Sales tax comes into play if you exceed the limits depending on the number of transactions and turnover.
If you have a high turnover target and you think you will be able to pay taxes in a short time, it may make sense to represent the LLC as an llc.
Thanks for the quick response and the incredible breadth of information on the site. Does what is counted as the number of transactions apply to the money deposited into the company account? For example, I sold 100 $1 services on a platform, and then transferred the $100 accumulated on the platform to my company account in 1 transaction. Is this a transaction? Is it 1 invoice? If you have any information on this subject, I would like to be enlightened. Thanks again
You're welcome,
Payment gateways such as Stripe and 2checkout actually control these transactions based on their records. When a sale of $20,000 is made in the USA or 200 transactions (e.g. transactions of $1 or $1000) they will send you a notification form called 1099k, which will be sent to you automatically.
https://support.stripe.com/questions/1099-k-forms-issued-by-stripe
https://www.irs.gov/businesses/understanding-your-form-1099-k
Just in case, keep a record of every sale, issue an invoice, and when speaking to your accountant at the end of the year, tell him that you received this form and also notify him of your account records. If you use an online accounting platform such as Freshbooks, you will authorize the accountant through the program, and he will be comfortable in performing the necessary transactions, which will be cheaper for you.
If you give your expenses (server, hosting, license, advertising, etc.) to your accountant along with the documents or record them in freshbooks, they can deduct them from taxes.
Sales tax is a separate situation, when you exceed the states' limits, you start collecting it and returning it to the state. If you sell to states that do not have sales tax, you do not need to collect and report sales tax.
It was very descriptive. After reading the stages of forming an llc on your site and gaining general information, there is another issue that bothers me. Let's say the company's bank account was opened, profits were made, and taxes were paid. As the sole founder, how can I take the last profit I have left as profit for myself or is there an extra tax when I take it? Can I transfer it to my personal bank account in Turkey or in cash as I wish? Or do I need to pay a second tax?
There is no monthly declaration like in Türkiye, the situation is different there. You will receive the payments you collect with Stripe and withdraw to Wise or Mercury Bank to your TR account on the same day.
You pay the tax at the end of the year, not every month. For more detailed information, consult an expert. o&g cpa company provides a free 10-minute consultancy. There is a topic here:
https://startupsole.com/abd-vergişma-form-5472/
Hello, can you give information about the establishment of the company?
0533 xxx xx xx
Hello, sorry that I do not provide one-on-one consultancy. You can also form your company online yourself through different intermediaries. There are many guides on this site for this, I leave the links of the most preferred ones;
https://startupsole.com/incfile-ile-amerika-da-sirket-kurmak/
https://startupsole.com/northwest-ile-amerika-da-sirket-kurmak/
By the way, I had to hide your number. I wish you luck.