Wyoming Business License: Everything You Need to Know
If you plan to hire employees or if you need to withhold sales tax, you should register with the Wyoming Department of Revenue.3 min read
To get a Wyoming business license as a corporation, a limited partnership, or a limited liability company, also called an LLC, you should file with the Business Division of the Wyoming Secretary of State or call 307-777-7311. However, you won't need to file with the Secretary of State or call if you're doing business as a general partnership or a sole proprietorship. After your business is approved by the State, you'll get a federal tax ID number, also called an FEIN or EIN, from the IRS.
If you plan to hire employees or if you need to withhold sales tax, you should register with the Wyoming Department of Revenue. If you need a license for your business, you should apply at the Wyoming Licensing Board. Some cities and counties also require local trade licenses. If you're going to establish an office or a shop, get zoning approval from the city.
The Secretary of State has rules on securities, so you should contact the Securities Division if you want to sell shares in your corporation. You'll need a prospectus when soliciting investors. For offerings of less than one million dollars, a fill-in-the-blank prospectus is available. Most businesses that plan to use a trade name, like the name of a store, must register the name with the Secretary of State.
Filing Wyoming Articles of Incorporation
The articles of incorporation in Wyoming cost $100, and the requirements of Wyoming corporations are as follows:
- The corporation's name must have an ending like "incorporated" or "corporation."
- The State regulates the number of shares the company can issue.
- The name of the registered agent and the registered office address must be on record, along with the corporation's principal office address and mailing address.
- The incorporator or incorporators should sign the articles of incorporation.
- A business name that ends with "LLC" or something similar
- A name that is different from existing Wyoming companies
- A Wyoming statutory agent
- A physical address
- A place of business in Wyoming
- Your name, email, and phone number
- Your signature
Wyoming Small Businesses
The Wyoming Business Council, or WBC, offers a Business Resource Network. The U.S. Small Business Administration, or SBA, has a district office in Casper, Wyoming. The Wyoming Small Business Development Center, or SBDC, can help you start and grow your business.
LLC Fees and Permit Requirements
The state fee in Wyoming is $100, and the Annual Report costs $50. However, the fees are higher if you have over $250,000 in assets.
The General Permit Requirements include the following:
- Unemployment insurance
- Employer registration
- Employment eligibility verification
- New hire reporting
- Federal requirements
- Local licensing requirements
- Workers' compensation
- Occupational health and safety
Violating license or permit requirements could lead to expensive fines or penalties.
Unemployment Insurance and Employer Registration
The government compensates workers for some of their losses if they're laid off with unemployment insurance payments while they're looking for a job. Employers pay for the unemployment insurance in their taxes. If you pay more than $500 in wages in the current or previous year, you'll be subject to Wyoming Employment Security Law, which includes full-time, part-time, and occasional workers. Owners must register with the Unemployment Insurance Division, provide periodic reports, and pay taxes.
For more information about unemployment insurance, contact the Unemployment Insurance Division:
Unemployment Insurance Division
Employer Accounts Section
100 W. Midwest
P.O. Box 2760
Casper, WY 82602
New Hire Reporting and Employment Eligibility Verification
The Immigration Reform and Control Act in 1986 and later amendments help preserve jobs for people who are entitled to work in the United States. When you hire someone in Wyoming, you should report the action to the Wyoming New Hire Reporting Center. The IRS recommends its Tax Guide for Small Business for anyone planning to start a new business.
Contact your municipal and county authorities to determine local requirements.
If you're not sure who you should talk to, contact the Business Permit Program for assistance:
The Business Permit Program
214 West 15th Street
Cheyenne, Wyoming 82002
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