LLC Formation in Wyoming’ (Overview)
Wyoming state is a state that attracts foreign entrepreneurs to forming a LLC, especially due to its low annual franchise tax. Foreigners who do not live in America can forming a remote LLC in the state of Wyoming.
Wyoming is a state with less formality, privacy, and especially the best asset protection system. Recently, it has been more preferred for entrepreneurs such as dropshiping, online marketing, digital product-service sales.
You can set up a registered agent and start your new business in Wyoming within a few days.
* An EIN is a free number given to everyone on the IRS. You can fill in a form called SS4 yourself and send it to the IRS, but it is said that individual applications have been answered too late recently. For this reason, Registered Agents offer you this service a little faster, for a fee. In order to avoid problems, you can pay this fee from the very beginning and get the service through the Registered Agent.
**Annual service fee and company setup fee are calculated based on Northwest Registered Agent.Prices will change when you choose a different Registered Agent. Under the table, you can find the price list of Registered Agent companies.
*** In USA, the virtual address is not included in most Registered Agent packages and you pay extra virtual address fee every year. When you receive service through the Nortwest Registered Agent, the virtual address is included in the package and you do not need to pay an extra annual virtual address.
How to Forming an LLC in Delaware? Steps
I recommend that you go according to the order, you can apply these processes step by step.
- First, you must determine the LLC name. The names previously found in the state database may be the same as the name you chose. So make a click here and check your name.
- Company name can include: Limited Liability Company, LLC, L.L.C, Limited Company, LC, L.C., Ltd., Ltd. Liability Company, Ltd. Liability Co, Limited Liability Co.,
- Get a virtual phone number in the USA. You should do this before the next step because you will need it in the LLC application. I would recommend using Zadarma for the virtual phone number. $ 2 or $ 3 per month. Open an account for Zadarma from this link and start using it by installing its mobile applications.
- Select a Registered Agent. There is a lot of information and pricing on which to choose here.
- After selecting the Registered Agent, you can apply through the website of the company you have chosen.
The approval period of the LLC company can take 1 week for the state of Wyoming. Sometimes transactions can be completed earlier. However, if you want to install faster, you can download the process to 1.2 days by paying extra for the Registered Agent.
After starting the installation process, you will be asked to digitally sign some documents. You can digitally sign them. The Registered Agent will contact you when there is an extra situation.
Define an e-mail address that you actively use while registering on the Registered Agent website during the setup process. In extra cases or general information, they will reach you from this e-mail address.
What will happen after your LLC is approved in the state of Wyoming?
- You can download your company establishment documents digitally from your member panel on the Registered Agent website.
- Receive a Federal Identification Number (EIN) from the IRS after you receive LLC setup documentation (digitally) You cannot open a bank account or register for payment systems without an EIN. If you want, you can get EIN by paying an extra fee during the company setup phase or you can fill in the SS4 form yourself and fax it to the IRS.
- Pay State tax (Franchise Tax $50) each year to maintain the health of your LLC after setup
- Fill in Form 5472 every year and fax it to the IRS. (Free)