Why Incorporate in Wyoming?
When you incorporate, Wyoming provides protection to the owners of the Corporation which is the number one reason why you should incorporate there. Regardless of the company type, when you incorporate, the owners will not be held responsible in the case of lawsuits.
Incorporate for privacy. Information on residents or their business is also not kept and stored in Wyoming. No information will also be shared with the IRS as there is nothing to really share.
When you incorporate, stock can be issued by Wyoming corporations for capital, personal property, real estate, services, leases or options. Managers or directors determine how much is issued and their decisions are often final.
Would you like more reasons to incorporate in Wyoming?
- Corporations in Wyoming may purchase, hold, sell or transfer shares of its own stock.
- Wyoming Has No Corporate Income Tax.
- Corporate Shares are not taxed
- Wyoming Has No Franchise Tax
- Wyoming Has No State Business License
- Wyoming Has No Personal Income Tax
- Wyoming Has No Inheritance or Gift Tax
- Wyoming Has No Unitary Tax
- Wyoming Has No Estate Tax
- Nominal Annual Fees
- Competitive Sales and Property Tax Rates
- Minimal Employer Payroll Tax – 0.7% of gross wages with deductions for employer paid health insurance
What if my business is situated in another State?
If you incorporate your business in Wyoming even though it will have operations in another state, your business will still be protected under the laws of Wyoming. In case of lawsuits, the accuser will have to bring the case to the courts of Wyoming. This additional expenses often results in the death of many lawsuits midway before they actually even reach Wyoming. In short, Wyoming is the most pro-business state and incorporating your business in Wyoming is always worth the effort and the money!
In case of a lawsuit, when you incorporate in Wyoming, the owners of a corporation will not be defendants or held liable. In addition, there are currently over 1,600 lawyers, all ready to represent your business if need be.
In most cases, if a business starts to prosper, lawsuits always follow as with what happened with McDonald’s when that woman spilled coffee on herself just to win a settlement. This is something that could well put you out of business if it happens frequently.
A lawyer usually looks for sizeable assets before taking up a case. In other states, if there are no assets that can be seized, people would then come after your own assets. In Wyoming, if you chose to incorporate and the case is connected to your corporation, an accuser is prohibited from touching your own personal assets which is a huge plus.
And if you choose to incorporate your LLC in Wyoming, if someone is to place a charging order against your company, it won’t cost you a thing as they will be responsible during that period for paying all expenses including taxes.
Want to incorporate in Wyoming? Get help from experienced business experts!