wyoming llv

WHY FORM A WYOMING LLC?

Forming your LLC with us is simple and quick. We handle all filings and guarantee your company willl be created within twenty four hours. All you need to do is complete our online order form here. We only charge $199. Alternatively, you may create the LLC yourself for $100 and use our registered agent service for $25. The choice is yours.

Wyoming Limited Liability Companies have the best asset protection laws, no taxes and allow for anonymous ownership. Benefits such as these, combined with our low fees, have made Wyoming the best state for doing business. These advantages are available whether you run an online store or have operations in another state. Below we describe how even a gym in Chicago can benefit from organizing an LLC with us.

This is the art of corporate structuring and it's our passion. We have helped thousands and can help you too. Please contact us if you have any questions - we love special requests.

wy llc highlights

    • Privacy & Anonymity: Owners and Managers are not listed anywhere. Only we know who you are. Your identity is protected by attorney-client privilege.

    • Simplicity: Everything can be handled online and there are no wait times. There is no need to visit or residency requirement. Simply complete this form. We will deliver your company and all the documents you need within twenty four hours.

    • Low Fees: We charge $199 TOTAL. That price includes all state filing fees. There are no surprises.

    • No Taxes: Even companies in other states can benefit. Ask us how by clicking here to contact us.

    • Asset Protection: Nation's best charging order protection. Personal creditors cannot seize your LLC, and LLC creditors cannot seize your personal assets.

Additional Benefits

  • Single-Member LLCs are allowed.
  • No operating agreement is required, but we provide one anyway.
  • Close/Closed Limited Liability Company is allowed.
  • No additional fees for extra members.
  • No minimum capital contribution.
  • You can elect to be taxed as an S-Corp.
  • No waiting times or need to mail things in.

What's The Process if you choose us?

  1. Click here and enter your information (Please perform a business name search to ensure your name is available)
  2. Receive an email with your login information.
  3. Login and view your documents.
  4. Everything is finished within 24 hours - GUARANTEED!
  5. Contact us if you ever need anything.

Why Cloud Peak Law?

Privacy, price, professionalism, and return on investment... Let's take those one by one:

Using us ensures your personal information is protected. There's no risk of an error and things are done correctly the first time. We have streamlined our administrative tasks and passed the savings on. Our law firm has a reputation to stand by. We handle everything, with no surprises, and you will be on your way in less than a day. That's our professional promise to you.

What do you get in return for investing your money with us? You will receive your LLC(s), unlimited phone support, free documents and a partner.

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wy llc packages

The Turn-Key LLC $199: Everything you need to start. We handle all Wyoming Secretary of State fees and filings. You will receive:

  • 1 Year of Registered Agent Service
  • Free Mail Forwarding - 5 Pieces
  • Use Our Address for Everything
  • Single & Multi-Member Operating Agreements
  • Organizational Meeting Minutes
  • Articles of Organization
  • Certificate of Organization
  • Certificate of Good Standing
  • Resolution To Open A Bank Account
  • A Guide With 10 Useful Tips
  • Attorney Client Privilege

Do you need an EIN?

A company's EIN/TIN is the equivalent of a person's Social Security Number. It is unique to your company. If you intend on opening a bank account or engaging in any taxable activities, then you will need one. If you will only be using the LLC to hold assets, but not to earn any income, then you will not require one.

We will happily assist you with obtaining an Employer Identification Number / Taxpayer Identitication Number from the IRS. Simply choose the option at checkout and we will take care of the rest.

Does your LLC need an operating agreement?

Wyoming does not require an operating agreement. This thus begs the question of whether you should "bother" with one? The answer is yes. Though the reasons are different for single member as opposed to multi member LLCs.

Single Member LLCs: The operating agreement is just an agreement between you and yourself. However, we have included a springing member provision. This means when you pass away your company will be given to whomever is named. Failing to name someone either means your company is dissolved or is forced through probate when you die. From our estate planning roots we know probate is public record, expensive and time consuming.

Multi Member LLCs: The operating agreement will define ownership percentages, declare what managers can and cannot do, act as a non-disclosure agreement, and prevent shareholders from selling to outsiders. Failing to sign an operating agreement amounts to a free for all.

Click here to get started now or contact us first.

 
Case Study #1

You live in Virginia and run a business not tied to a location, e.g. an online company. The business generates a profit of $30,000 and is unlikely to face a lawsuit or creditor problem.

Scenario 1: Form a company in your home state. Why is this a bad idea?

    • Everyone can see what you own. Nosy neighbors, aggressive creditors and needy family members. All your information is just a google search away from being used against you.
    • Personal creditors can seize your company, its bank account and other assets.
    • If you elect to be taxed as a corporation then you will pay an extra 6% in taxes.
    • If you have a single member LLC, a judge may decide to pierce the corporate veil and make you PERSONALLY responsible for company debts. Thus eliminating the benefit of an LLC altogether.

Scenario 2: Choose Wyoming for $199.

    • Nobody knows who owns your company.
    • Even if a creditor finds out what you own, they cannot break into the company and seize your assets.
    • Wyoming respects single member LLCs (SMLLCs). There is no need to worry about becoming liable for business debts.
    • No state income taxes or reports to file.

The choice in this example is clear. Doing business in WY is preferable due to stronger asset protection laws, anonymous ownership, lower fees and no taxes. Combine your LLC with our virtual office and book keeping services so you can focus on what's important... running your company.

Custom Corporate Structuring

A single LLC separates personal assets from business liabilities. Multiple LLCs separate business assets from business liabilities. Consider the additional LLCs as a one-time insurance payment against bad employee decisions, aggressive creditors and bad luck. Certain industries can also shift income to Wyoming where it will pay no state taxes. These benefits make Wyoming LLCs ideal holding companies regardless of where your business operates.

Companies with significant assets and revenue, or in high risk industries, should discuss additional options with us. These options include:

Solo 401k LLC: Did you know you can set up a 401k for yourself? Your company's contributions are tax-deductible and they grow tax-deferred. Once funds are inside the 401k you may then make any investment you wish - including loaning money to yourself, buying rental properties or investing in tax liens.

Asset Protection Trusts: Placing assets into a trust changes the ownership of the assets. You still benefit and control them, but the trust owns them. This alters the economic analysis for creditors. No longer do you own the assets and thus no longer can they seize them.

Contact us for additional strategies, including information on our nominee services and assistance with opening a bank account for your Wyoming company.

case study #2

Consider a fitness center in Chicago, IL. The center owns equipment, furniture and a trademarkable name, among other things. These assets exceed $100,000 and present a liability.

Scenario 1: Incorporate a single LLC in Illinois. The gym earns $50,000 and is taxed 7.75% or $3875.

Scenario 2: Incorporate in Illinois. A foolish customer or bad employee leads to a lawsuit. All the LLC's assets are at risk. Alternatively, your company fails to pay rent. Your landlord seizes equipment and liquidates it.

Scenario 3: Form a double LLC. One in Wyoming for assets and the other in Illinois for operations. The operating company leases equipment, borrows operating cash and pays royalties for the trademark. This diverts $30,000 of the $50,000 in profits to Wyoming. Thus saving $2,235 in taxes. Further, lawsuits and creditors cannot seize the Wyoming LLC's assets because they are held in a separate entity.

This example applies across many industries. Contact us today and we will find a solution for you.

Final Thoughts

Still wondering whether our Wyoming corporate services differ from “similar” providers? The short story is we offer the lowest fees and have been in the business for 30+ years. We have accomplished this by providing more value than merely forming your Wyoming LLC and dropping it in your lap. Asset protection, domestic trusts and estate planning are just a few of our additional services. Our partnership doesn’t end when you pay, it’s merely the beginning.

Further Reading

You may find additional reading under the contact form. You may also browse our resource articles here:

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Wyoming LLC taxes

Limited Liability Companies offer the ability to be taxed as parternerships, corporations or s-corporations. Each designation maintains the limited liability benefits. This hybrid structure is partly what drives the popularity of LLCs. If you choose the partnership designation, then you will be taxed according to your personal tax rate.

Wyoming has no corporate income tax. Working with us, you can invest those savings directly into your business, rather than giving them to the State. Companies operating in other states stand to benefit the most from forming a WY LLC to act as a holding company. Through loans, leases, royalties and management contracts you can divert revenue to Wyoming tax free. Consider the savings from what you paid last year in your home state.

Wyoming Secretary of State LLC Fees

Filing with us costs $199 the first year, this includes the $102 we pay the State. Every year after, your corporation will only pay $50 to the Wyoming Secretary of State when you file your Annual Report. Add our $25 Wyoming registered agent fee and your annual maintenance costs are $75.

Nevada's Secretary of State fees are $200 the first year and $150 every year thereafter. That is before finding an incorporation and registered agent service. Add in NV's new business license fee and revenue tax on large companies. The trend is clear. Wyoming is one of the least expensive for doing business.

Wyoming LLC privacy

Wyoming LLCs are advantageous because of the strict privacy laws governing them. The State of Wyoming only knows who organizes the company which is us. Your name never appears on a public database anywhere. Don't worry, desiring privacy is not wrong. You have a right to keep your affairs private and have nothing to gain by displaying your wealth. When you elect for our service you receive an additional layer of protecting due to attorney-client privilege. Follow this link for a full explanation of who knows what and when.

Simplicity

No citizenship requirements
You do not need to be a U.S. citizen to start a business in WY. You are not even required to visit the USA. You may live anywhere in the world and operate your business remotely. We have many international clients and are happy to assist you.

Convenient transfer
Wyoming has made it easy for you to move your existing LLC to our state. The method is called continuance. Essentially, Wyoming will allow you to maintain your same start date so you don't have a "brand-new" company. This is great for securing credit etc. This service is something that you cannot do in many other states, including Nevada.

Cheaply form your LLC online

Everything is handled online and within twenty four hours.

asset protection

A properly formed corporation is recognized as a separate legal entity with its own Federal tax ID Number. The LLC is responsible for its liabilities and its debts, not the owners. This means, the the creditors of a Wyoming Limited Liability Company cannot pierce the corporate veil and seize the owner's assets.

A single corporate entity however, does not separate the company's assets from its liabilities. To limit potential losses, one should employ multiple corporations in a holding company setup. This keeps important assets safe and will allow the company to continue functioning in the event of a lawsuit.

We have a technical guide explaining the asset protection features of Wyoming LLCs here.

Miscellaneous Facts

Perpetual life - unlimited duration
An LLC is a separate legal entity, which has its own existence and perpetual life. In other words, the business can continue beyond this lifetime - long into future generations. An LLC, continues indefinitely until it is formally dissolved. Specifically, memberships in an LLC can generally be sold, gifted or bequeathed to others. LLCs stand in contrast to Sole proprietorships, which typically end upon the death of the owner.

Transferability of ownership
Unlike a Sole Proprietorship, which does not have a life apart from its owner and cannot be transferred to a third party, LLCs provide an excellent vehicle for transferring ownership through a straightforward exchange of membership.

Unlimited Shares

Wyoming does not charge LLCs for their share count. Contrast this with Nevada LLCs which charge more for this.

Number of owners
Wyoming allow for single-member LLCs, and up to an unlimited number of memberships (except with S-Corporation status, there is a limit of 100 members).

2017 Wyoming Scholarship Details

The scholarship this year will be available to part and full time students at the following Wyoming colleges:

  1. Casper College
  2. Sheridan College
  3. Eastern Wyoming College
  4. University of Wyoming

The amount of the scholarship is $500. The recipient's funds will be forwarded to the individual student, or the school if required. To qualify, please do the following:

Write a 750 word essay on how your experiences in college thus far have shaped your views regarding the importance of national unity. We decided on this topic because of recent political discourse being so divided.

Please don't forget to include your contact information, or school, so we may know how to inform you should you be selected. Thanks for your interest. Needs to be posted marked by August 31st, 2017 to: Cloud Peak Law Group 203 S. Main St. Ste 3000 Sheridan, WY 82801

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