Wyoming has one of the best records of business survival thanks to its lack of a corporate income tax or personal income tax. As a result, Wyoming has been named as one of the best business climates in the country for five years in a row.
If you plan on starting an LLC in Wyoming, you will be required to designate a Wyoming registered agent. A registered agent is the contact person for your company in any legal matters that arise and receives mail correspondence from the state.
What is the role of a registered agent?
The role of a registered agent is to receive service of process-this is a legal term that essentially means to obtain official paperwork from anyone who wishes to speak with your company. This can include lawsuits, subpoenas, or other documents received by any government entity within the state of Wyoming.
The registered agent is then responsible for forwarding mail from the official office address on file to you or your attorney and acts on their behalf.
While your company may choose any individual for this role, it is recommended to choose someone with experience with businesses or corporations to help streamline the paperwork process. In addition, a Wyoming registered agent should be reliable, responsible, and have a physical street address within state limits.
Who can be a registered agent?
There are a few options to choose from when appointing a registered agent:
- A business employee or owner can serve as a registered agent.
- An individual that you trust to receive official business documents on your behalf with a physical address (P.O. Box is not allowed)
- A third-party registered commercial agent service Northwest Registered Agent can help take the burden of managing tax forms and annual reports off of your plate.
If you have decided that you would like a third-party agent, you must make sure several criteria are met before making your final decision. The first is to make sure the agency has physical offices in Wyoming–this means that someone from their office will be present in person on business days for all registered agent correspondence.
Their physical presence can help avoid any misdelivery or unnecessary delays in delivering a document that can be crucial to your business.
In addition, look into how long they have been in business and what kind of reputation they have with their clients: you will want an agent who will be easy to contact. An established company is more likely to fulfill your needs as a client, so make sure to research any company before deciding on one.
Wyoming registered agent requirements
Wyoming requires each registered agent to meet the following criteria:
- Must maintain a physical address in the state of Wyoming
- Be over 18 years old.
- Must ensure documents are delivered and processed in a timely fashion.
- Must be available from regular business hours from 9 AM-5 PM
What are the best registered agent services in Wyoming?
The Wyoming Secretary of State provides a list of Registered Agents that are provided for the public. While you can choose any registered agent in the state of Wyoming, another option is to use a commercial registered agent service as they offer a variety of value-added services.
Here are some other popular registered agent services in Wyoming:
- Northwest Registered Agent is one of the leading registered agent service providers in Wyoming. They have been around since 1998 and started with registered agent services but have expanded into other services like online limited liability company processing, official mail forwarding.
- ZenBusiness specializes in fast filings speeds and offers a registered agent service as well. In addition, Zenbusiness also provides additional services like DBAs, websites, and EINs.
- Incfile is a popular online filing service that has grown in popularity recently thanks to their $0 plus state filing fees package. They are known for their online LLC formation services and offer filings for nonprofits, S and C Corps, and various tax and compliance filing options.
Benefits of using a commercial registered agent company
One of the main benefits of using a commercial resident agent company is that it is much faster and more reliable than using a residential provider. Your business will be your registered agent, so you don’t have to worry about misdelivery or incomplete service of the process.
A commercial resident agent company has years of experience helping other businesses in situations just like yours. They also have the resources and staffing necessary to receive the services of the state properly.
LLC’s that use third-party registered agents are often more difficult for the state to locate because they have more than one possible registered agent. This can lead to your service of process being delayed or even lost inadvertently.
Managing companies across multiple states
A commercial registered agent service can help make managing LLCs across different states much more accessible since each state requires a registered agent based in the state of incorporation. In addition, companies like Northwest Registered Agent can serve as your one point of contact for registered agent services if you decide to expand outside of Wyoming.
Commercial registered agent companies are required by law to have a physical office space in Wyoming, so you can be assured that your documents will always be handled properly.
A third-party registered agent service can help keep your address from being on public records, making it more difficult for people to find you and send you junk mail.
You can have a registered agent forward any business mail that comes to their office straight to the address of your choosing. No one else will be privy to your business information.
Commercial registered agents are experts at what they do, so they also include other small business services such as:
- Mail Forwarding
- Annual Report Reminders
- Scanned and Stored Legal Documents (Avoid managing your paperwork)
What to do after selecting a Wyoming registered agent service?
1. Perform a Wyoming business name search
Once a business decides who will serve as their registered agent, they can select a Wyoming business name. The Wyoming Secretary of State website maintains public records of companies that have corporations filed in the state. Be sure to choose a unique business entity name to avoid running into issues with the Secretary of State.
One of the best ways to develop a unique business name is by using a business name generator.
2. How to file
Once you have selected a registered agent and performed a Wyoming business name search, the next step is to fill out the business form that is specific to the type of business entity you want to file. The forms are easy to fill out and typically include the following information:
- Corporation name
- Mailing Address
- Principal Address
- Member Name
Once you have filled out the appropriate business form, the next step is to file the form with the Wyoming Secretary of State.
3. Register a domain name
Registering a domain name early is essential because it ensures that someone else can’t take it while you’re putting your business together. Our domain name check tool will help you search for available names quickly.
4. Register Wyoming Name Reservation form
If you have a business name picked out but aren’t quite ready to register your business, one option is to file a Wyoming Name Reservation and lock your name in place for a 120 day period.
5. Prepare an operating agreement
An operating agreement is a document that spells out the requirements, privileges, and duties between business owners. It contains how to handle everything from day-to-day operations to what happens if one of the partners dies or wants to leave the business. The operating agreement is essentially a partnership agreement for different types of businesses.
This should be written by an attorney and reviewed by an attorney. Each state has different laws governing operating agreements, which must be considered when creating one. Operating agreements are sometimes referred to as partnership agreements or member agreements, even though they may apply to non-partnership entities such as LLCs.
6. Get a Tax ID from the IRS
A tax id is a reference number assigned by the IRS used when tax returns are filed. The tax id numbers are also referred to as an Employer Identification Number or EIN.
Tax ids can be obtained from the IRS website in a few simple steps.
7. Stay on top of annual filings
Wyoming requires each corporation to file an annual report through the Wyoming Secretary of State website. Filing an annual report keeps Wyoming businesses in good standing with the state and helps ensure that they have the most up-to-date contact information and addresses for businesses.
Is Wyoming business-friendly?
Wyoming is one of the most business-friendly states in the country with its lack of a corporate and personal income tax policy.
Why do so many companies incorporate in Wyoming?
The admin costs to file in Wyoming are very low and the tax structure helps make Wyoming a viable alternative to Delaware. Large corporations tend to incorporate in Wyoming, while smaller businesses often choose Wyoming for its tax structure.
How do you find out who owns a Wyoming business?
The best way to figure out who owns a business in Wyoming is to perform a Wyoming business name search through the Wyoming Secretary of State website. The site is free for the public to use and stores information about businesses that have registered within the state.
Does a sole proprietor need a registered agent?
In most cases, they do not. Sole prop businesses have a straightforward structure in Wyoming, and there is no legal requirement to be registered with the state or any local agencies.
Do corporations require registered agents?
Yes, every Wyoming corporation, including LLCs, C-Corps, etc., is required to have a registered agent with the state.
How do I change my Wyoming registered agent?
There may be situations where you need to change your registered agent if you have issues getting correspondence in a timely fashion.
You can change your Wyoming registered agent by filling out the Appointment of New Registered Agent form and filing it with the Wyoming Secretary of State.
How much does a registered agent cost?
Registered agent cost will depend on the state where you incorporate. In general, you can expect to pay $150-$300 per year for a registered agent service.
Many new businesses start with one corporate officer, usually the owner, serving as both president and secretary. If that person is also acting as your registered agent, it’s generally safe from legal liability.
Can I use a virtual office as a registered agent?
A virtual office is a business address that offers you the appearance of having an office and isn’t actually in your control. When registered agents are required, we strongly suggest using a commercial registered agent service instead of a virtual office for liability reasons. Also, virtual offices are a bit of a grey area when it comes to state statutes. Check with the Secretary of State in Cheyenne to get the official ok.
Is the registered agent liable for the business?
No, the only thing the registered agent could be liable for is negligence in the performance of their duties. Making sure mail correspondence is sent to the business owner in a timely fashion is the most common type of negligence scenario.
Can I be my own Wyoming registered agent?
As long as you meet the Wyoming state requirements for statutory agents, you can be your registered agent.
Some of the advantages of being your own registered agent are:
– Ease of responsibility
– You are familiar with all details about the company, and if you need to start legal proceedings against yourself, you can be involved fully.
The disadvantages of being your own registered agent:
– Missing a delivery if you are using your home mailing address
– The requirement to be available during business hours
– If expanding out of state, you will need to establish a new registered agent
CHK_ YOUR NAME RIGHT NOW
Use our engine to quickly check your content right now!