Why Wyoming Corporation?
Why Incorporate in Wyoming?
Many people ask: why incorporate in Wyoming? What makes Wyoming special?
There are numerous reasons to incorporate in Wyoming. First and foremost, a Wyoming corporation will face far less of a tax burden than a corporation in another state. Why?
In Wyoming, there are no:
- Corporate taxes
- Personal income taxes
- Business franchise taxes
- State business licensing fees
- Share certificates required
In Wyoming, most businesses pay only a $50 fee each year when filing an annual report. Businesses with in-state assets above $250,000 will pay a little more, based upon the value of those assets.
Why incorporate in Wyoming? How about a government strongly committed the success of Wyoming corporations?
- The Tax Foundation ranked Wyoming the Most Business Friendly Climate in the nation in both 2014 and 2015.
- The Tax Foundation also ranked Wyoming as the Lowest State/Local Tax Burden in the Country in
- In 2014, the American Legislative Exchange Council ranked Wyoming the 3rd Best Economic Performance of any state in
Again, and again, Wyoming has been ranked in the top three in the nation for economic growth, GDP growth, per capita income growth, business climate, even in rankings for retirement, education and air quality.
Why incorporate in Wyoming? A better question is: why not?
Forming a Wyoming Corporation
Our informational pages cover all the aspects of forming a Wyoming corporation. To form a Wyoming corporation, you must:
- Select a name for your corporation
- File Articles of Incorporation with the Secretary of State
- Appoint a Wyoming registered agent
The ownership and operational structure of a Wyoming corporation is outlined and detailed in the company’s corporate bylaws, which are written by the initial owners, who are known as shareholders.
Once you form a Wyoming corporation, there are additional tasks:
- Apply for an Employment Identification Number from the IRS
- Open a business bank account
- Hold an initial shareholders meeting
- Issue stock to shareholders