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Saving taxes with Wyoming LLC

Asked by: Barbara - 8 February, 2011 How will I save state taxes by owning an LLC in Wyoming if I don't live there.
Answered by: Lloyd Johnson - 21 February, 2011

Dear Barbara,

Because we are not accountants, we cannot give you a detailed tax advice. The general notion is that you have to pay taxes in the state where you do your business. This depends on tax regulations and not on where your business is formed or registered. However, the advantages of forming your business in Wyoming is the great limited liability protection offered by the Wyoming laws. Taking advantage of that protection costs very little as Wyoming has no state tax and charges very little in minimal yearly fees required to maintain a company there ($50 compared to California's $800).

Click on the following link to learn more about all of the advantages of incorporating in Wyoming.


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