Wyoming LLC | How to Start an LLC in Wyoming (and why you shouldn't!)

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★★★ How to Start an LLC in Wyoming and what to avoid!
Setup your LLC with Bizee (formerly Incfile) is fast, easy and cost-effective. Get started ➡️ bizbuddy.com/bizee On 12/1/23 Incfile rebranded to Bizee as they're offering a full suite of business services beyond just business formation. Check them out! ➡️ bizbuddy.com/bizee
📣 Important Update: Wyoming's New State Fee: $102. (Last edited on sept/30/2023)
For complex businesses that carry more liability, you should consult with an attorney. I recommend Anderson Advisors. They offer a free 45-minute consult ➡️ thebizbud.co/anderson-advisors
Thank you for using our affiliate link as we earn commissions if you use our links. There is no additional charge for you and we make a $20 donation to charity on your behalf when you use our LLC formation links.
Other Resources Mentioned:
IRS LLC FAQs ➡️ www.irs.gov/businesses/small-...
WY LLC Filing Tips ➡️ sos.wyo.gov/Business/StartABu...
Table of Contents:
0:00 Intro to Wyoming LLC
0:12 Search volume for people looking for Wyoming LLCs
0:51 Article example of Wyoming LLC
2:38 What is an LLC
3:16 Piercing the Corporate Veil
3:40 Importance of Registered Agent
5:32 How to start an LLC with Bizee
9:10 Potential tax savings with S-Corp
#LLC #Wyoming #bizee
Disclaimer- I am not an attorney or a CPA, just a small business owner who has researched this information thoroughly while setting up my own LLC (S-Corp now). This is meant as educational information but now legal advice in any way. If you need legal advice please consult with your attorney and CPA on the best fit for your needs.
DISCLAIMER: This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This help support the channel and allows us to continue to make videos like this. Thank you for the support!

Опубликовано:

25 июл 2024

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Комментарии : 68

@bizbud 3 года назад

For most people, Bizee (formerly Incfile) is the way to go because it's fast, easy, and cost-effective. Setup your LLC today bizbuddy.com/bizee Thank you for using my affiliate link because it helps to support my RU-vid channel so I can make more educational content! I truly appreciate it.

@RandallsRestRelaxation 2 года назад

Wyoming has ZERO State Corporate Tax. That is why many file LLC's there.

@Recovering_Californian 2 года назад

We need to define what "doing business" is. I too have an online company. I've written software that other businesses can use nationwide. I certainly do not need to form an LLC in every single state when a customer resides.

@DavincisMind Год назад

Now that is what I call information and valuable video. Thank you

@DesiQuiseWanderlove 3 года назад

Thank you for this info! I needed a few more pointers. Not only did you hit on what I was looking for but you also taught me something else in the process!

@essentiallearning8458 Год назад

EXCEPTIONAL CONTENT!! THANK YOU

@munnybunny 2 года назад

This is only partially true. If your business has no physical presence, then you don't need to file as a foreign LLC.

@burtondave4235 2 года назад

Right I just saying that to myself he right but not about that part!

@halalaffirmations 2 года назад

Can you explain a bit more? If I were to sell online and have a foreign LLC, when would I NOT mention that its a foreign LLC?

@THISSHOWNEEDSMORETITS Год назад

@@halalaffirmationsnever the business doesn't have a physical address

@Dope4life97 Месяц назад

@@halalaffirmationsthe example givin was a foreign LLC in Wyoming doing business in California, you don’t have to do it this way, if you have a domestic LLC (California) owned by the Wyoming LLC

@romegq Год назад

Wow! Havent heard this tidbit about setting up in WY....Thank you for this! So it's basically better to set up your LLC in the state of the business to avoid having to register in both separate states???

@tabs3024 3 года назад

If you set it up correctly in Wyoming with a registered agent, and pay the annual fees....then how is it illegal? People want to keep their personal information private especially if you are doing a business like e-commerce.

@dwaynerobare1153 3 года назад

Only the owner has filing requirements... this guy is short on the facts.

@InappropriateShorts 3 года назад

@@dwaynerobare1153 🤣😂what do you expect when you vomit content for setting up business’ in every state

@khalednabilcs Год назад

Thanks for your comment, I think your comment make more sense than the video, I have been looking for having my Wyoming LLC and I would love any tips or advice from you Thanks

@khalednabilcs Год назад

@@dwaynerobare1153 So if I have a WY LLC no need to register it as a foreign LLC, I am assuming the main reason for having WY LLC is so no one knows who is the owner

@Meekerextreme Год назад

Cost me $50 in Colorado, $10 a year to say I'm still active which I did through the State website. EIN is free to get and wasn't a huge deal, and the bank, that was easy took EIN, Articles of Organization and opened a bank account at local credit union. It's really easy to do...LOL Registered Agent! Too small no employees to need that...but yeah I could see where that might take the work load off ME down the road so I won't say you NEVER need them but you don't NEED them to start out.

@HopeProphecy 3 месяца назад

Clarification question: if I want a Wyoming Holding LLC to manage a subsidiary LLC, do I have to set up my subsidiary as MEMBER-managed (by the holding LLC)? or can it be MANAGER-managed (by the Wyoming Holding LLC)? Assuming both LLCs are single-member, would there an advantage to either option? Thanks.

@ElChris619 Год назад

Great video, is there a video of what we need to do every month as an llc. Like paperwork

@bizbud Год назад

Not each month but there are certain dates. If you’re going to have to pay over $1000 in taxes you’re going to need to pay estimated quarterly taxes. A CPA can help you figure that out. You’ll need to renew your LLC each year depending on the state. Some states may have extra requirements. I get mailers from incfile reminding me of important dates and actions I need to take.

@ric.huerta01 Год назад

What about if your an investor in real estate living in California, but all your doing is wholesaling contracts in different states?

@SD-rg5mj Год назад

Hello can you give me the name of the form to fill out to withdraw money from my LLC, as a foreigner Thank you for your videos Cyril

@SuriyaWetzler Год назад

How about if the business is online....n having a vertical address in Wyoming?… thanks for answer g

@czarrevs3616 2 года назад

Can the Wyoming LLC be the registered owner of a California LLC for anonymity purposes?

@user-mu4sm4nb1d 5 месяцев назад

Thanks for the video... this was confusing; why did you show Texas prices instead of take us through how to get a Wyoming LLC? And you're the first video I've watched that said if one would have to register a Wyominc LLC in their home state as a foreign LLC

@afroexpoofficial Год назад

If you register your LLC in Wyoming but already have it registered in Cali. would u need 2 different agents per state?

@Dope4life97 Месяц назад

What if the Wyoming LLC just owns the domestic LLC in Massachusetts do I have to still register as foreign business

@DrBradyHurst Год назад

I don't understand that if you register the LLC in WY, you also have to register in the state you live in. Can't someone just look up that LLC to get your info? How does anonymity work here?

@helprehouseourvets6919 Год назад

My holding company is in Wyo. My Operational is in FL. The biggest financial mistake I made was letting my *$25* Wyo agent file my FL LLC bcus I got hit w/an undisclosed $105 filing fee on top of the $195 it would have only cost me had I filed straight thru the FL Registered agent! I'm pissed bcus I wasn't told that the $300 included their added $105! She knew I didn't know since I opted to file for my own EIN vs paying a ridiculous $75 to let them file! Yeah. They got me this time😡 I will be switching agents before next yr!

@sleddy01 Год назад

People use it as a holding entity for LLCs in the state where they are doing business.

@Jmorsay Год назад

With domestic/foreign, what if I’m in another country?

@aloneinfiction4101 9 месяцев назад

So what if you Geo Block California from your online business, would that work? I live in California.

@kingedwardiii3606 3 года назад

Just don’t do business in your Wyoming LLC. Whatever state you wish to do business in setup an llc for that state with the Wyoming being the owner.

@anthoneybranch7017 2 года назад

Exactly! A sexy little anonymous holding company that'll keep your tenants from walking into your personal life if you're buying and holding single family properties in your home state.

@40arpent 2 года назад

Can't upvote this enough

@kimayasabalie553 2 года назад

Do you set up the Wyoming LLC first? Then the state LLC? Or it doesn’t matter

@canadalove6223 2 года назад

What about when drafting a contract to lease a trademark from the holding company to the llc or vice versa, llc in cali holding company Wyoming? Would that be considering doing business ?

@noah5709 2 года назад

Someone who actually understands the point, purpose and value of a Wyoming LLC. The fella doing this video clearly dose not.

@nelsonprabhu7997 8 месяцев назад

Hi, thankfully for the videos 1, Im a Canadian residence, i have a established granites stone business, all my commodities i import from overseas, 2, Im planning to expand my business in US states closed to Canadian borders, based on nature of my business needs a port to import commodities by shipping from overseas, and hiring a wearhouse in washington, Seattle, so wearhouse will take care of all my distribution and inland movements across all states. 3, In this case i choose washington (Seattle) is the convenient port for me to bring in container, so were i want to register my LLC to moving forward without any inconvenience. 4, If i pick my llc in wyoming or Delaware, which is a right move ? Or i need to pick washington to register my llc because of my base is here. 5, I don't have employees or physical office , i run this business by my own, Advise me please and thank you

@michaeltacapreo 2 года назад

An online business is transacting in interstate commerce, so technically Steve can run his online business in California and not worry about a certificate of authority. Conducting business, managing business, operating business or anything along those lines is not sufficient enough. There is a clear distinction between "transacting" and "conducting" and I hate the fact the attorneys get this confused. But anyways, my state explicitily states that for the purposes of transacting business in the state that transacting business in interstate commerce does not constitute having a foreign LLC getting a certificate of authority. I didn't like the example you presented, it's actually legit, if Steve is running an online business and all of his business affairs are transacted online

@noneofyourbusinessgoogle 2 года назад

I have been looking at Foreign Qualification, and it's very frustrating to me. From my understanding, his WY LLC needs to apply for foreign qualification in CA if Does your company have a physical presence (like a factory or stores) in the state? Does your company have employees in the state? Does your company accept orders in the state, or have liability to collect sales tax? If we consider Steve as the employee of the WY LLC who resides in CA, then it would constitute as doing business in California, and he has to apply for Foreign Qualification in CA which leads to more headaches. Is that right?

@robertt8279 2 года назад

One problem that he didn’t talk about was sales tax. And in the example it was an online business right so you don’t have to go get an LLC in every state that you do business in if it’s online. Now if I had a construction company and I was trying to do construction work in a different state than those kind of things are different. But most of us that are trying to do this are doing transactional online business, we’re not conducting business in the state. The problem with any of this is how you handle sales tax. Most people don’t even have a clue on how to handle their own sales tax in their own state with municipalities and counties.

@heavydoodie924 2 года назад

So what if I'm a full-time RVer with a strictly online business that offers a service and no products, and I form a domestic LLC in Wyoming and do business in all 50 states while traveling? Do I need to file for a foreign LLC in all states? Seems like flawed logic somewhere.

@doc4153 Год назад

Most states have exceptions written for doing business in a state for short periods

@om8652 2 года назад

How do you make it legit, are all people that have Wyoming LLC in California getting screwed?

@edward3190 Год назад

I don't understand why Steve need to apply foreign LLC while doing online business. if Steve lives in a RV traveling across the US every year, would he need to apply for 50 foreign LCCs for every single states. However this sounds bizarre. Then why would he need to apply for California LLC? What makes Steve a California employee or what define doing business in California? What if Steve accidentally open his laptop and do the work of the business while he was on a vacation in another state? does this qualify him as doing business in another state which require him applying for a foreign LLC?

@tenzackyogi1742 Год назад

Foreign LLC is only good for Online Shopping. Physical Store is not allowed on Foreign LLC.

@jennycmartinez 11 месяцев назад

I’m a social media influencer and I work from home I just make content. For tik tik and RU-vid I live in California I don’t want to pay $800 annual filing, can’t I just register my business in WY ? I’m not a Brick and mortar business.

@alexb8455 Год назад

thank god

@mdalizyx 2 года назад

Dear, I created LLC to follow your video from Infile. I have to say many thanks. But after I create LLC in Wyoming I get Articles of Organization and certificates of Organization but on that document, there has no my name. Also in Wyoming company website doesn't show member names. So my question is - 1. how I have to prove that I am the owner of this company. 2. In Organizer show as Infile name what does that mean if I want any modification only they can do that or if every years I have submit annual report only they can do that?

@hamasriaz2623 2 года назад

I have the same Question , have you find your name on any paper ?

@doeygaming3639 2 года назад

you having the articles of organization is proof

@pettypatty329 2 года назад

This is one good reason to use a *Registered Agent* so you don't have to deal with all these pesky little questions! It's just *magically* done *for* you!

@doc4153 Год назад

@@doeygaming3639 but the articles of organization are public record... can I just print yours out and say it's my company?

@doeygaming3639 Год назад

@@doc4153 you have a point but in wyoming they have more privacy with llc so idk if it shows in a search on their sos site. you can create a operating agreement as well.

@yososumarto4733 2 года назад

the video image is too poor, you need to fix it more

@satirikos1234 3 года назад

what about the non US residents? is Wyoming the best for them?

@Saidi_abdelhakim 3 года назад

ofc

@SilusValeriusVT 3 года назад

Please help, we kinda REALLY NEED ANOTHER ECONOMIC SECURITY

@MostLogical Год назад

Everyone talks about how the solution to everything is Wyoming LLC, thanks for quickly clarifying you have to have a domestic LLC as well. Thank you

@dp-116 Год назад

This isn't true. You set up a holdings LLC in Wyoming that does not do any business. You then set up your llc(s) in the state you're doing business under your Wyoming holdings llc.

@teamsales9271 Год назад

not need a licenses to run some business in Wyoming

@shirlzitting647 Год назад

What about this? What about that? Yada yada yada... .

@qwertyuioppoiqwe 8 месяцев назад

BS video. If you own a strictly online business, open a Wyoming LLC.

@gettyfernandez5428 9 месяцев назад

So cheap first year. How about next year. How about if I'm making a million. How much. Depends on how much you are making I'm sure. I'll contact you and let you know. How much. Sounds like you ready