1 / 1

Forming an LLC in Wyoming

LLC stands for Limited Liability Company. It is a separate business entity. It can hold assets in its own name, can enter into contracts, can sue and be sued just like any other corporation in the United States.

shieldcorp
Télécharger la présentation

Forming an LLC in Wyoming

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Blog4 - Shieldcorp.net Forming an LLC in Wyoming LLC stands for Limited Liability Company. It is a separate business entity. It can hold assets in its own name, can enter into contracts, can sue and be sued just like any other corporation in the United States. It was first introduced in 1975 in Wyoming. It took around 15 years for the concept of a limited liability company to be recognized as a separate business entity all over United States of America. Limited Liability Company is a combination of a partnership firm and corporation. It offers the clause of limited liability to its members. This means the liability of the members will be limited to the extent of nominal value of their shares. Also, it can have more than 35 shareholders. Moreover, you can save income tax by lowering your income tax slabs by distributing your income among your family members. Forming an LLC in Wyoming is not complicated. The procedure starts with naming your company. The name of the company should not contain any prohibited words. If the name contains any restricted words then the necessary paperwork should be done. The name should contain the words limited liability company or the abbreviation LLC. You should make sure whether the name is available in Wyoming by searching it on the State of Wyoming website. The next step involves hiring a registered agent. A registered agent is a person who does the paperwork for your company. The agent is nominated by the company itself. You can hire a professional registered agent or become your own registered agent. However, it is recommended that you hire a professional who knows what is to be done exactly. This is because forming an LLC in Wyoming can involve a lot of legal paperwork which is a little difficult for a layman to handle. The next step is to file your articles of organization with the state of Wyoming. This is filed by the registered agent of the company. Some additional forms are to be filled along with articles of organization. Also, a nominal fee is involved in this step that is payable to the state of Wyoming. The last step in the formation of an LLC in Wyoming is obtaining the employer identification number or federal tax identification number. Apart from the name of your company, the employer identification number acts as an identification of your company. This number is very helpful. This number is required to open a bank account for the company, to hire employees for the company as well as for tax purposes. LLC is not a very old concept in the US, yet it has gained a lot of popularity in a short time. This is because there are a number of tax benefits offered by the government to LLCs. There are a number of other benefits like limited liability for its members. Further, the government has made the process of forming of an LLC in Wyoming really uncomplicated and brief. While the legal framework for LLC is still evolving, many people are choosing this form of company because of its advantages.

More Related