Incorporation in Wyomingby Robert Kowalski
Few people know that little fact, but it was Wyoming that invented the American LLC in 1977, as it was modeled after the 1892 German company law known as Gesellschaft mit beschrnkter Haftung (GmbH). Nevada and Delaware copied Wyoming's LLC and profited from it most through better marketing.
Wyoming is one of the best places to establish a company, and this is proven by the fact that a very high percentage of the companies dealing on Wall Street are registered in Wyoming.
The popularity of Wyoming as a "corporate heaven" in enhanced by the very liberal Corporation Law which enables companies to be established quickly with the broadest possible powers permitted under the law. There are little or no restrictions on any consequent business activities.
Advantages of Incorporating in Wyoming
Here are some advantages of incorporating or forming LLC in Wyoming:
- Wyoming has no state corporate income taxes,
- Wyoming has no franchise tax,
- Wyoming has no tax on corporate shares,
- The annual fees are based on the value of corporate assets that are physically located in Wyoming, not on assets located elsewhere,
- One person may fill all the required corporate officers and directors,
- Stockholders are not revealed to the State,
- No annual report is required until the anniversary of the incorporation date,
- The articles of incorporation may provide for unlimited stock without a requirement for stating par value,
- Wyoming statute has provisions for bearer script which can be used when stockholders capitalize the corporation in increments less than the par value of the stock,
- Wyoming allows for nominee shareholders,
- Share certificates are not required,
- There is no minimum capital requirements,
- Meetings may be held anywhere in the world,
- Corporate officers, directors, employees and agents are statutorily indemnified from personal liability associated with their corporate activity,
- Additional indemnification is allowed even after suit is filed by a potential judgment creditor,
- Wyoming has a continuance procedure, which allows a corporation formed in another state to change it's domicile to Wyoming wile maintaining its corporate history.
You can learn more about advantages of Wyoming over other states, as well as get help deciding whether you should or should not choose Wyoming as the state of registration by reading our article Start Your Business in Wyoming.
Wyoming is one of the three states commonly recognized as "corporate heavens", the other two being Delaware and Nevada. Before making your choice please see our article that runs a comparison DE vs. NV. vs. WY.
Ready to Form Your Business in Wyoming?
About The Author
Robert Kowalski is a seasoned incorporator and business filing specialist with over 10 years experience consulting emerging companies with their business filing needs. Robert served as the chief editor and one of the top contributors to Answers @ MyUSACorporation.com.