In this Article, we will give you a snapshot of the legal compliance requirement and associated fees required to register Limited Liability Company (LLC) in Wyoming and most importantly, maintain the status of an LLC, especially as a small business e-commerce start up.
In the United States, LLCs are registered on the state level, therefore you can register an LLC in any of the 50 States in the United States, including Washington DC.
You can check out our the best states in the US to register your LLC as a small business e-commerce start-up, if you want to pay less State fees, less State imposed taxes and do less periodic paperwork in order to maintain your LLC.
In this Article, our focus is on Wyoming LLC. What cost should you expect to pay when you register a Utah LLC? What periodic filings requirements are imposed on Wyoming LLCs? What State taxes are levied on e-commerce small business start ups in Wyoming and what are the tax rates? What business permits are required to be obtained by e-commerce businesses in Wyoming, what’s the cost of these permits and are there any renewal requirements?
This Article presents you a snapshot, so you know what fees and legal compliance requirements to expect if you want to register an LLC for your e-commerce small business start up in Wyoming, operate with the required licences and maintain your LLC status.
Business registration and compliance on Wyoming
LLC Registration cost; the state fee for registering an LLC in Wyoming is $102. You can register your LLC with Bizee for a service charge of $0 + the State fee.
LLC registration Publishing requirement; No, LLCs in Wyoming are not required to publish their registration in a local newspaper.
Has the Option to register as an Anonymous LLC; LLCs in Wyoming have the option to register as an anonymous LLC. This means that the LLC can be registered without putting the names and personal details of the LLC Owners on public record of the State.
DBA requirement; DBA is optional if your LLC is operating under a different name than your LLC registered name. In Wyoming DBA is referred to as a “Trade name”. Cost of registration is $100, the length of approval is 10 years. You can register for a DBA in Wyoming online.
Annual report filing requirement; yes, cost of filing annual report in Wyoming is $60 minimum
You can file the Wyoming annual returns yourself, you’ll need to visit the Annual Report filing page or you can outsource the filling of your annual returns to Bizee for a $99 service charge + the state fee.
You can register your DBA or fill your annual returns directly on the State’s website and only pay the state’s filing fees. Alternatively you can use Bizee a US business filing service to register your DBA and file your annual returns. Bizee charge a service fee of $99 + the state fees. We recommend Bizee for registering your LLC because specifically for LLC registration, Bizee does not charge any service fee. so you pay $0 + the state fees.
Annual Franchise tax filing and compliance in Wyoming
State Franchise tax requirement; No, LLCs are not required to pay Franchise tax in Wyoming
Annual State income tax filing and compliance in Wyoming
State income tax requirement; Wyoming does not have an individual income tax. Wyoming also does not have a corporate income tax.
Periodic Sales tax filing and compliance in Wyoming
Sales tax requirement; Wyoming has a 4.00 percent state sales tax, a max local sales tax rate of 2.00 percent, and an average combined state and local sales tax rate of 5.36 percent.
Sales tax nexus; Sales tax nexus is
the state-defined threshold between a Seller and a state, which when reached makes it obligatory for the Seller to register for a Seller permit in the state, charge sales tax to customers in the state and remit the sales tax to the State Government.
Generally, there is the “physical sales tax nexus” and “economic sales tax nexus”.
Physical sales tax nexus is reached when the Seller had physical presence in the state (i.e have an office address, a warehouse etc).
In most States, “economic sales tax nexus” is reached when a Seller makes up to 200 transactions or $100,000 in sales in a State.
It’s important to note that, when you register your LLC in the State of Wyoming (which generally requires that you have a registered business address in Wyoming, you automatically meet the physical sales tax nexus and will be required to obtain a Sales tax permit in Wyoming, charge applicable sales tax rates to customers in Wyoming and remit sales tax to the Wyoming State Government.
Sales tax permit; It costs $60 to register for Wyoming sales and use tax license.
There is no requirement to renew a Sales tax permit in Wyoming.
Reseller/Resale Certificate; Businesses who purchase products from their suppliers for the purpose of reselling those products to their customers can make sales tax free purchases from their suppliers if they have a resale certificate.
This means that Resale businesses can get cheaper product prices from their suppliers (that is product prices without sales tax included) which can help these Businesses have a higher profit margin and/or maintain competitive selling prices to their Customers.
Generally, suppliers will charge the sales tax rate applicable in the State where the product is to be delivered unless the business presents to the supplier a Resale Certificate (also called a Reseller Certificate).
The Resale certificate must be valid and acceptable in the state where the product is to be delivered.
Businesses can present any of the below listed Resale certificates to suppliers if they want to make sales tax free purchases for product delivery to an Wyoming address.
- Exemption certificate | EST Form 101
- SST Certificate of Exemption (The SSTform serves as a uniform resale certificate for various states, streamlining the process by replacing the need for multiple state-specific resale forms when dealing with your supplier.)
Note; Wyoming accepts the use of out-of-State Seller ID.
This means that Resale Businesses seeking sales-tax-free purchases in Wyoming can use an out-of-state seller ID (i.e a seller ID issued by another US state or their home state) to fill-out the SST Certificate of Exemption. They can indicate an out-of-state seller ID as their Wyoming Seller ID on the SST form.
In Wyoming, A blanket Resale certificate (This means that the resale certificate is kept on file by the Supplier to cover multiple purchase transactions between a specific Supplier and Reseller) appears to be valid until revoked in writing because Wyoming does not list an expiration period on its resale certificates.
Conclusion
This Article shows you a snapshot of the legal fillings and compliance requirements for LLCs that are registered in Wyoming, specifically for LLCs that want to carry on the business of selling and especially for small e-commerce start up LLCs that are registered in Wyoming.
If you are wondering what might be the best State in the United States to register your small business (especially if you are a reseller or an e-commerce business), we have written this Article, where we go over our most recommended states for registering a business in the United States, if you want to pay less LLC filin and legal compliance fees, if you want less state imposed taxes and if you want to do less periodic legal paperwork required to maintain your LLC status.
