How to Form a Limited Liability Company in Wyoming

One of the biggest risks of starting a small business is losing all of one's personal assets if the business incurs debt. The solution in recent years has been the limited liability company (LLC). Wyoming was the first U.S. state to offer the option of an LLC as a business entity, and like Delaware, it is known for its relaxed regulations and lack of a state income tax.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Computer with Internet access
• Legal assistance

1. Go to the Web site for Wyoming's Secretary of State (see Resources below). Find the PDF files for all of the forms you need, and either download them or fill in the blanks online and submit them electronically.
2. Fill out the articles of organization with the help of a lawyer. Among the forms is the Consent to Appointment form for the registered agent to fill out and sign.
3. Make a copy of the articles of organization and add this to the forms you submit.
4. Pay the filing fee required to form a Wyoming LLC to complete the process, which should take two to three weeks.

Tips & Warnings

• Don't do this yourself. Hire a business lawyer well versed in the laws surrounding limited liability company formation.
• Wyoming is one of the few states that does not require the submission of an operating agreement. LLCs created without a well-written operating agreement, though, invite financial disputes down the line, so it's advisable to create one that all the members approve.
• Unlike Delaware, Wyoming does require a registered agent who is a state resident. In fact, the articles of organization must include a written Consent to Appointment that has been signed by a registered agent.