LLC-Explained.com
Information about LLC's in various states and countries.
Wyoming incorporations
The state in which you choose to incorporate your business in can have a big effect on the way you run things, and Wyoming incorporations can give you quite a few advantages. Don't assume that all states have the same methods or advantages in incorporation – a few truly stand out, and since you can incorporate in any state, you should do so in those most advantageous to you.
Wyoming incorporations offer a plethora of advantages that most states simply cannot compare to. There are a number of taxes that are not charged in Wyoming – personal income tax, excise tax, franchise tax, gross receipts tax, inventory tax, or corporate income tax. That's a hefty savings compared to other states.
Similar to Nevada, Wyoming incorporations have a number of privacy protection mechanisms in place. You do not have to disclose who or how many shareholders you have, and you also don't have to have more than one person in the business. The only thing you are legally required to turn in to Wyoming is an annual report that asks for assets within that state, as well as your name. Since you probably won't have assets in the state, you don't have to worry about unsavory individuals looking at your assets. You also are not charged annual fees for assets outside the state, and very low fees for those within it.
Another advantage to Wyoming incorporations is the fact that you are not held personally accountable for the debts of the corporation. This can change, however, if you are found to be conducting illegal acts.
You are not required to have any set amount of capital for your Wyoming incorporations, making it ideal for small businesses that want a more credible look for their business. There are also very low filing fees for your articles of incorporation in Wyoming.
The last major advantage to Wyoming incorporations is that of avoiding the Nevada stigma. Nevada is a very popular place to incorporate, and because of that many problematic people have operated from there. The IRS takes a much harder look at Nevada incorporations than any other state, and that can cause extra hassle that you won't have to deal with incorporating in Wyoming.
