Form a Corporation in Wyoming
Everything you need to know about forming a Corporation in Wyoming. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose a Corporate Name
Select a unique name that includes a required designator such as 'Corporation,' 'Corp.,' 'Incorporated,' or 'Inc.' Search the Wyoming Secretary of State's business name database to confirm availability before filing.
30 minutes
Appoint a Registered Agent
Designate a registered agent with a physical street address in Wyoming (P.O. boxes are not accepted) who is available during normal business hours to receive legal documents and official notices on behalf of the corporation.
1-2 hours
File Articles of Incorporation
Prepare and file the Articles of Incorporation with the Wyoming Secretary of State, either online or by mail. The document must include the corporate name, registered agent information, number of authorized shares, and incorporator details.
1-2 hours
Appoint Directors and Hold Organizational Meeting
Appoint the initial board of directors and hold an organizational meeting to adopt corporate bylaws, elect officers, authorize issuance of stock, and address other foundational corporate matters.
2-4 hours
What's Next After Filing
Once your Corporation is officially formed, you'll want to complete these important steps:
- •Draft and Adopt Corporate Bylaws — Create corporate bylaws that govern the internal operations of the corporation, including rules for shareholder meetings, voting procedures, officer roles, and director responsibilities. Bylaws are not filed with the state but must be maintained internally.
- •Obtain an EIN and Open a Bank Account — Apply for a federal Employer Identification Number (EIN) from the IRS, which is required for tax purposes, hiring employees, and opening a business bank account. Open a dedicated corporate bank account to maintain separation of personal and business finances.
- •Obtain Licenses, Permits, and Comply with Tax Requirements — Obtain any required state or local business licenses or permits applicable to your industry. Register with the Wyoming Department of Revenue if the corporation will collect sales tax, and ensure compliance with Wyoming's annual report and license tax requirements.
Advantages
- ✓No state corporate income tax, no franchise tax on income, and no personal income tax, providing significant tax advantages for shareholders and the corporation
- ✓Strong asset protection laws with robust piercing-the-corporate-veil protections and charging order protections that shield shareholders from corporate liabilities
- ✓Low annual maintenance costs with a minimum annual report fee of just $60, making it one of the most affordable states for corporate maintenance
- ✓Allows corporations to be formed with just one shareholder and one director, making it ideal for solo entrepreneurs and small businesses
- ✓Wyoming law permits bearer shares (under certain conditions) and offers strong privacy protections, as the names of shareholders are not required to be listed in public filings
Considerations
- •If your business operates primarily in another state, you may need to foreign-qualify in that state and pay fees in both Wyoming and your home state, potentially doubling administrative costs
- •Wyoming's corporate law is less developed and tested in court compared to Delaware, which may create uncertainty for complex governance issues or sophisticated investors who prefer Delaware's established legal precedents
- •Raising venture capital or attracting institutional investors can be more challenging, as many investors and investors' counsel prefer Delaware corporations due to its well-established corporate statutes and case law
Annual Obligations
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