To move your LLC to Wyoming, is quite a simple process to transfer to your LLC to Wyoming. We can provide the transfer service for $100, or you can also move your LLC to Wyoming yourself, and just hire us as your Wyoming registered agent (which you are always legally required to have, regardless of the state of incorporation).
The State of Wyoming refers to the transfer as “Foreign Limited Liability Company Articles of Continuance in Wyoming”.
What’s great about this is that if you have an LLC in an expensive state that charges annoying fee’s you can just move the LLC to Wyoming, and all of the assets as well as original date of organization will be kept in tact. You also won’t face capital gain tax or anything like that. Transferring an LLC to Wyoming is fairly common, We actually do this for a new client about once a week.
A lot of people come to us looking to transfer thier Nevada LLC to Wyoming. Nevada has been raising the prices on their LLC’s dramatically over the past few years. Nevada doesn’t really offer any advantages over Wyoming – except that it is more expensive, and this could hardly be considered an advantage.
Here’s the low-down on all the fee’s you have to pay in Nevada:
You file the initial articles of incorporation for $75.00.
Next you have to file a list of members or managers every year for $125.00 a year. If you’re late, it’s another $75.00, compare this to Wyoming which is only $50 in State fee’s per year.
Finally, the business liscense tax. This fee is fairly ridiculous. In the past, it was just $100 per year, but no one really checked up on it, and it was unregulated. You usually found out about it when you discovered you needed a Nevada business liscence and you found yourself asking yourself “What is a Nevada business liscense”; and then you had to pay back fees and interest for the years you didn’t have it.
The annual business license in Nevada now costs $200 per year, and there is no longer a loophole for people to escape. The process has become regulated and your good standing will be removed if you don’t pay this tax. Obviously it seems like a lot of money just to just to file your annual list of members or managers with the Nevada Secretary of State. Just to keep your Nevada LLC in good standing, you may be stuck with HUGE costs if you’ve been running the company for a while, and never knew about the Nevada business license tax. We get phone calls and emails almost every day from people who want to move their LLC to Wyoming, and ask us to help them because now they are looking at $1500+ in taxes just to send in thier annual reports with Nevada and remain in good standing.
If this is the situation you found yourself in, then we can help you, but its important that you act quickly. This is because the LLC *must* be in good standing in order to transfer the LLC to Wyoming.
The process to domesticate your LLC in Wyoming from any state, is as follows:
1. First we need a copy of the certificate of good standing from your home State (This costs $50in Nevada and you can get it online)
2. We need to get a current certified copy of your Articles of Incorporation ($30 in Nevada and $75.00 for a 24 hour expedite, which may be worth it because it can take a couple weeks without the expedite fee)
3. Prepare a Certificate of Dissolution for your home State ($75.00 in Nevada), but don’t file them yet!
4. We will file the documents in Wyoming in your behalf, and get you in good standing, and then
5. Final step to transfer the LLC, file the dissolution paperwork in your home State.
Compare the differences in State fees of an LLC in Wyoming compared to the cost of an LLC in Nevada:
Nevada: $75 (incorporation fee) +$325 Yearly fee’s = $400
Wyoming : $100 (incorporation fee) + $50 Yearly fee’s = $150
Wyoming has very pro business laws similar to Nevada in many cases. Many people might argue that its better to incorporate your LLC in Wyoming than Nevada.
In order to file in Wyoming, you need to have the signatures on the paperwork be originals.
If you would like our help to move your company to Wyoming, please give us a call, alternatively you can sign up for our Wyoming LLC formation service below.
Moving your LLC to wyoming is a fairly common process for us. In Wyoming, you only have the $50 annual report due each year, which is a very simple process and can be done online.
Wyoming LLC’s are very private, as Wyoming doesn’t require disclosure of the actual ownership of the company, and there is no tax to be paid in most circumstances. The only tax in the State of Wyoming is personal property tax, which requires that you have assets phsycially held in Wyoming.