Form a Partnership in Wyoming
Everything you need to know about forming a Partnership in Wyoming. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose Your Partnership Type
Decide between a General Partnership (GP), Limited Partnership (LP), or Limited Liability Partnership (LLP). General Partnerships require no formal state filing, while LPs and LLPs must register with the Wyoming Secretary of State.
1-2 hours
Select and Verify a Partnership Name
Choose a unique business name and search the Wyoming Secretary of State's online database to confirm availability. Limited Partnerships must include 'Limited Partnership' or 'L.P.' in the name; LLPs must include 'LLP' or 'L.L.P.'
30 minutes
Designate a Registered Agent
Appoint a registered agent with a physical Wyoming street address who is available during normal business hours to receive legal and official documents on behalf of the partnership. The agent can be an individual or a commercial registered agent service.
30 minutes
Draft a Partnership Agreement
While not legally required by Wyoming, a written partnership agreement is strongly recommended as it outlines each partner's rights, responsibilities, profit and loss sharing, decision-making authority, and dissolution procedures. Without one, Wyoming's default partnership statutes will govern the arrangement.
2-5 hours
What's Next After Filing
Once your Partnership is officially formed, you'll want to complete these important steps:
- •File the Certificate of Limited Partnership or LLP Registration — For LPs, file a Certificate of Limited Partnership with the Wyoming Secretary of State online or by mail with the $100 filing fee. For LLPs, file a Statement of Qualification. General Partnerships are not required to file but may register a trade name for $100.
- •Obtain an EIN and Open a Business Bank Account — Apply for a Federal Employer Identification Number (EIN) from the IRS at no cost, which is required for tax filing, hiring employees, and opening a business bank account. Keep partnership finances separate from personal accounts.
- •Obtain Required Licenses and Permits — Register for Wyoming state taxes if applicable, and obtain any required local business licenses, professional licenses, or industry-specific permits. Wyoming has no state income tax, but partnerships with employees must register for unemployment insurance and withholding taxes.
Advantages
- ✓Wyoming has no state income tax, meaning partners are only taxed at the federal level on their share of partnership income
- ✓Simple and inexpensive to form, especially for General Partnerships which require no formal state registration
- ✓Pass-through taxation avoids the double taxation faced by C-Corporations, with profits and losses flowing directly to partners' personal returns
- ✓Wyoming has strong privacy protections — the state does not require public disclosure of partner names in filings, offering greater anonymity than many other states
Considerations
- •General partners face unlimited personal liability for the partnership's debts and legal obligations, putting personal assets at risk
- •Partnerships can be less attractive to outside investors compared to corporations, as they lack stock issuance capabilities and standardized ownership structures
- •Partnership dissolution or ownership transfer can be complex and may require unanimous partner consent unless the partnership agreement specifies otherwise
Annual Obligations
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