Why Incorporate in Wyoming?
In 2021, Wyoming ranked number one on Tax Foundation's annual State Business Tax Climate Index, making it one of the most business-friendly states in the nation. To help business owners, Wyoming offers several business and tax incentives, including various financing options and loans, provided your corporation meets certain criteria.
For example, there is a Partnership Challenge Loan that allows the Wyoming Business Council to partner with a local economic development organization to create combined loan proceeds that assist a business (third-party loan recipient).
For most entrepreneurs looking to form a larger business, creating a Wyoming corporation may be the best option. As a corporation, your business is able to buy and trade stock, and when it comes to excess profits, corporations offer more flexibility than an LLC. A corporation is allowed to pass income and losses to its shareholders, who report taxes on an individual tax return at ordinary levels.
Is an LLC Better Than a Corporation?
It all depends on what you want to achieve. Limited liability companies are usually better for smaller businesses. An LLC would be easier to set up, and would receive many of the same benefits as corporations, with less regulation.
Learn more about forming a Wyoming LLC so you can decide which business entity is right for you.
Benefits of Forming a Wyoming C Corp
The strongest form of liability protection possible by insulating your personal assets and finances from business debts, obligations, damages, bankruptcy or other liabilities
The ability to issue more than one type of stock
The ability to sell stock to investors inside and outside the U.S.
Several options to create, buy, sell or transfer stock, including publicly
The ability to raise more funds by issuing more stock
Benefits of Forming a Wyoming S Corp
It offers several advantages similar to those provided by a C Corp including, but not limited to:
Options for creating, transferring and selling stock, though not as many as a C Corp
The capacity for up to 100 shareholders
Simpler rules than those applicable to C Corporations
Easy transfer of ownership simply by selling your stock
The possibility of saving money by allowing you to pay less self-employment tax
In this guide, you’ll find information on naming your corporation, getting a Registered Agent, the fees you’ll need to pay, business taxes and much more. We also cover what you'll need to register your corporation and how you'll interact with the Wyoming Secretary of State.
Start a Business in Wyoming Checklist
To help you along the way, use our Starting a Business checklist to keep track of everything you need to do to get your business going.
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Incorporate Now
Launch Your Business With Bizee
No Contracts. No Surprises. Only $0 + State Fee to Launch Your Business.