Wyoming LLC: How to Form an LLC in Wyoming (Online in Minutes)

(ad) Go Here to Start an LLC in Wyoming: ✅ bit.ly/Wyoming....
In this simple walkthrough, I'll show you how to form an LLC in Wyoming on your own online in minutes using the only service I use for my clients' LLCs and my own LLCs. I try to answer every question I think you might have about starting an LLC in Wyoming. However, if you have any questions about how to set up an LLC in Wyoming, please let me know in the comments!
If you've watched my other videos, you probably know that Wyoming is my top state in which I recommend creating an LLC, as WY LLCs offer you excellent asset protection and anonymity, coupled with very low fees.
(ad) Go Here to Form an LLC in Wyoming: ✅ bit.ly/Wyoming...
Note that this is an update to my prior video to reflect changes in 2024.
Steps to Forming Your WY LLC:
00:00 Introduction: How to Start an LLC in Wyoming
02:22 Which Bizee Package to Choose for Your WY LLC
10:23 Filing Time Options (1 Day or 3 Weeks)
10:43 Name of LLC and Number of Members
12:53 LLC Business Address Options
15:52 Member Information
18:19 How to Obtain LLC EIN (Tax ID)
(ad) Go Here to Create an LLC in Wyoming: ✅ bit.ly/Wyoming...
Thank you for watching my video on How to Form an LLC in Wyoming. Please see the following which can help you get your LLC properly up an running:
Next Steps After Setting Up Your LLC in Wyoming:
1. For my video on Steps to Take After You Create Your LLC, go here: • What To Do After Formi...
2. For Comprehensive "Next Steps Guide" (which covers important next steps and operation issues in great detail), go here: bit.ly/Legal-T...
3. For a Virtual Office (least expensive - mail accessible online), go here: bit.ly/LLC-Office
4. For a Virtual Office (where you can have meetings), go here: bit.ly/Allianc...
5. For a Registered Agent Service (with no price increases), go here: bit.ly/Registe...
6. To Qualify Your LLC to Do Business in Another State, go here: bit.ly/Foreign...
LLC Operating Agreement Options:
1. Basic Free Version (included in Standard & Premium Packages using Link Above at the Top)
2. Better Free Version, go here: • Operating Agreement fo...
3. The Best Quality Template: (from related company of mine): bit.ly/Legal-T...
4. For DIYers, here's my video on what should be included in your Operating Agreement: • What to Include in You...
LLC Management & Operations:
1. For video on Manager-Managed vs Member-Managed LLC, go here: • Manager Managed vs Mem...
2. For Comprehensive "Next Steps Guide" (which covers important next steps and operation issues in great detail), go here: bit.ly/Legal-T...
3. For video on How to File your LLC BOI Report, go here: • Corporate Transparency...
4. To Hire a Company to File your BOI Report for you, go here: bit.ly/BOI-Report
If you are in California or doing business in CA and prefer to hire an attorney to set up an LLC, advise you on proper structures and/or to draft an Operating Agreement or other related documents, feel free to reach out to me at: www.chrisjacks...
Thank you!
Best regards,
Chris Jackson
@cjlawvideos
Bio:
I have over 25 years of experience as a California-licensed business attorney. I'm also an entrepreneur who has owned, managed and sold at a significant profit multiple franchise coffee houses. In addition, I have finance and operational experience in several companies, including as a Chief Operating Officer (COO) and General Counsel of a group of companies.
Legal Disclaimer:
NOTE that nothing in this video is intended to create an attorney-client relationship. This video, the description above, my answers to questions, and my channel are for general information and entertainment purposes only and should not be construed or relied upon as legal or tax advice (generally or specifically). You should not act or rely on any of the information contained herein. For legal or tax advice, I encourage you to get such advice from an attorney and/or CPA authorized to practice in the applicable state.
Affiliate Notice:
Some of the links in the description, video and/or comments may be affiliate links whereby if you select such links and purchase something, my LLC may earn a commission *(at no extra cost to you)*. Note that I only recommend companies or services I use myself, and any commissions received by my LLC support my channel, and for that I thank you - it is much appreciated!
#llc #llc2024 #limitedliabilitycompany #startllc #formllc #wyomingllc #llcformation #llc2023 #wyoming

[@cjlawvideos]

(ad) Go Here to Form an LLC in Wyoming: bit.ly/Wyoming-LLC. *Note that this is an update to a prior video reflecting changes in 2024* I hope you enjoyed the video, and let me know if you have any questions. Thanks!

[@houseofjax21]

Thanks Chris, great advice, keep up the good work

[@cjlawvideos]

Thank you ... I appreciate the kinds words! Best regards, Chris

[@lazygod1849]

I started my business from your videos in the past. Thanks a lot!

[@cjlawvideos]

That's good to hear, and thank you very much. I'm glad the video was helpful! Let me know if you have any questions. Best regards, Chris

[@erikbrown8688]

@@cjlawvideoscan I do this if I live in Virginia how can I do business in Virginia do I have to bring it in as foreign

[@cjlawvideos]

@@erikbrown8688 Hi. You can form your LLC in WY and have it qualify/register to do business in Virginia (or any state). Bizee, the entity-service company I recommend, can help you do this after you form your WY LLC here: bit.ly/Wyoming-LLC. Let me know if you have any other questions, thanks! Best regards, Chris

[@planetanjac]

Appreciate your time & your video !

[@cjlawvideos]

Thank you so much, and I'm glad you liked it! Best regards, Chris

[@technist123]

Hey have been following your page; great advice always; will be reaching out to you soon! Doing this for two LLCs!

[@cjlawvideos]

Thank you for the kind words. If you have any questions that arise when you are forming your LLCs, please let me know. Best regards, Chris

[@sapnaanilkumar9393]

Hi Chris, Your video is really very informative and easy , keep up the good work. I have a question, is this the same place where i can open a non resident LLC or can you link me to a separate video for non resident LLC if there is any that you have made already. thanks , Paul

[@cjlawvideos]

Hi Paul. Thank you for watching, for your kind words and for your question. Although I plan to make a video specifically for non-residents, I have not done so yet. However, I recommend Wyoming (this video) as the best jurisdiction for both residents and non-residents. The primary difference is that, when you get to the EIN section, select that you are a non-resident/foreigner so that they know how to obtain the EIN for your LLC. Once you have the EIN, you can open a bank account for your LLC. Hope this helps and I wish you all the best! Best regards, Chris

[@MagicBiscuitShow]

Thanks Chris, I will be forming mine this weeks. Jax is a mighty fine looking' piece of dog. Cheers, Chuck (Jacksonville, Florida)

[@cjlawvideos]

Sounds good, and let me know if you have any questions. And, thanks for your comment about Jax... I agree ... he's a handsome boy! Best regards, Chris

[@forextrinitrader]

We recently created an llc in Florida why does that state always seem like bad idea in many online videos ??? Can I change that by making a wyoming llc and amending the florida owner as the wyoming llc? Can the wyoming llc be the same name or does it need be different? Do you do consulting??? Can you do video on worst 3 states to form llc and why not to lol😅

[@nouche-30064]

@@forextrinitrader These are excellent questions and suggestions ‼️ 👍

[@nouche-30064]

Thank you Mr Cris❗ For entertainment purpose, please, I have 2 questions: 1) Does the new law to declare an interest in an LLC is made automatically by this company in one of these packages? 2) If the WY LLC will be an holding of other LLC's, what designation of business to write in order to cover many different options of businesses? (For example: Real estate investments, Private money lending and other activities).

[@cjlawvideos]

Thank you for watching and for your questions. Regarding the Beneficial Owner Information (BOI) and other disclosures you have to make per the Corporate Transparency Act, they do not do this for you (to my knowledge). However, I am in the process now of making a short tutorial video on how you can submit this information yourself. It's pretty simple actually. That will be my next video, so watch out for that one! Regarding what Industry you would choose for a holding company you can type in "holding company" and choose either "551112 - Holding companies (except bank, managing)" if the WY holding company won't be the "Manager" of the subsidiary LLC or "551114 - Holding companies that manage" if it will serve as the Manager of a subsidiary LLC. Note that this really doesn't matter, as this industry code is not made public and is rarely used (e.g., you may need to know it if you are bidding on a government contract). Hope that helps! Best regards, Chris

[@nouche-30064]

@@cjlawvideos Thank you Mr Chris 🙏 I'll dig in to it later for the second question because the holding will be the Manager / owner of the sub. LLC'S in order to keep anonymity. I will be glad to see the other video for the 1st question. 👍💐

[@cjlawvideos]

@@nouche-30064 Ok, thanks. Best regards, Chris

[@reabralop]

Thank you for your videos, they’re very informative. In another video, you mentioned having a real estate property held in CA LLC with the WY LLC managing it. Could the CA property be held in a WY LLC with the WY holding LLC manage it? Basically, what are pros/cons to have a WY subsidiary LLC for properties in other states vs an LLC in the same state as the property? Thank you.

[@cjlawvideos]

Thank you for your kind words and for watching my videos. This is not legal advice, but here are some options to consider assuming you want a holding company structure: 1. You own the WY Holding Company LLC, and the WY LLC owns the CA LLC which owns the rental property. This is the most typical LLC holding company structure for rental properties. The CA LLC can be Manager-Managed or Member-Managed. I generally recommend Manager-Managed. If you don't have an issue with anonymity, you can appoint yourself as the Manager. 2. You own the WY Holding Company LLC, and the WY Holding Company LLC owns a subsidiary WY LLC. That subsidiary WY LLC owns the property in CA and qualifies to do business in CA. In my view, again, not legal advice, but I believe this would be a bit more protective than scenario 1. However, note that you would have the extra charge for qualifying the subsidiary WY LLC in CA (which Bizee can do or you can do yourself to save money) and the annual fees for such LLC in both WY ($60) and CA. Hope this helps! Best regards, Chris

[@JoePoppa05]

Hello Chris. Thank you for this video - extremely helpful. Quick questions: 1. How easy/difficult is it to change the business address after creating the LLC, and 2. What if I want to add a trust to the LLC after creation of the LLC?

[@cjlawvideos]

Hi Joe. You can change the address at any time after forming your LLC. You simply have to update it in WY on the annual report when it is due (or you can amend a previously filed one if you don't want to wait). You can also add your trust later in the Operating Agreement, since the member names are not public knowledge in WY. You would simply transfer the membership interests owned by you personally to your trust and reflect the same in both your Operating Agreement and your trust. If you want an Operating Agreement which already addresses how to accomplish this (a trust would be considered a Permitted Transferee ), a related company of mine sells excellent legal templates at very reasonable prices (see www.attorneydrafted.com). Hope this helps! Best regards, Chris

[@mylogistics-ko3jo]

"Hey Chris! I'm Manish from India, and I'm looking to register my 2-member LLC as a non-US resident. I'd appreciate your insights on the key points to consider and any extra requirements compared to a single member LLC. Thanks in advance for your help!"

[@cjlawvideos]

Hi Manish. Thanks for watching and for your question. When you get to "Select Number of Members," there should be a drop-down menu where you can choose "2." Then, just complete each Member's information. Also, when you get to the EIN section, you can select "I am a foreign individual who does not have a Social Security Number." They will then obtain the EIN (Tax ID) for your LLC so you can, after receiving the EIN, open a bank account for the LLC. Hope that helps, but let me know if you have any additional questions. Thank you. Best regards, Chris

[@Mike-d2d]

does the manager in the attorney-quality LLC operating Agreement have the authority to mange brokerage activities, including buying and stocks on behalf of the LLC

[@cjlawvideos]

Thanks for watching and for your question. I can't give you legal advice without being hired, but here are my general comments: 1. Yes, in my related company's Operating Agreement templates, a Manager has a lot of authority. Also, LLC Managers are generally perceived by third-parties to have the authority to transact on behalf of the LLC (much like a CEO). 2. The templates are here: bit.ly/Legal-Templates. 3. They are in Word format, come with instructions and are fully-customizable. For example, if you want to specifically call out that authority, you can add something like the following to Section 5.7: "to manage brokerage activities, including without limitation buying and selling stocks, ETFs or funds on behalf of the Company." I hope that helps, but let me know if you have other questions. Best regards, Chris

[@mierliu5050]

Thank you for this! Will I be able to pay independent contractor and myself selecting individual LLC?

[@cjlawvideos]

You're welcome. I believe you are asking whether you can pay yourself through the LLC? The answer is yes, it is quite common to pay yourself a salary from your LLC, especially if you elect S Corp tax status (though I cannot give tax advice). I personally pay myself from my own LLC, and I also signed up for a 401(k) with a company match (which is tax deductible to the LLC). Note that forming an entity through this service comes with a free tax consultation, so please take advantage of that and ask all the questions you have. Also, if you want a comprehensive "Next Steps Guide" which answers these questions and many other common ones, a related company of mine is selling it (along with legal templates) here: bit.ly/Legal-Templates. I also have a Next Steps video which covers many items (though not in as much detail) here: kzbin.info/www/bejne/h6eppod_aKiXmLM. I hope I answered your question, but if not please let me know! Best regards, Chris

[@mdchambo]

Chris, at about the 16min mark you mentioned restrictions of LLC which file taxes as S-Corps. Do you have additional detail or resources on this topic. Thanks!

[@cjlawvideos]

Hi. Thanks for watching and for your question. The IRS S corporation restrictions on shareholders applies to members of an LLC when the LLC elects S Corp status. To qualify for S Corp status, the corporation or LLC (as applicable) must meet the following requirements: 1. Corp/LLC must be a US entity electing S Corp status. 2. Corp/LLC can only have allowable shareholders/members. This can include individuals, certain trusts and certain single-member LLCs only (if such LLC is disregarded for tax purposes). You cannot have other types of entities or any non-resident aliens/foreigners as shareholders/members. 3. Corp/LLC can have no more than 100 shareholders/members. 4. Corp/LLC can have only one class of stock/membership interest. Hope this helps! Best regards, Chris

[@mdchambo]

@@cjlawvideos This is great and so are your info sessions on youtube!

[@cjlawvideos]

@@mdchambo Thank you very much for your kind words, and I'm glad it was helpful! Best of luck to you and your business. Best regards, Chris

[@determinator1996]

Does Wyoming still give anonymity from the public to new LLC owners?

[@cjlawvideos]

Yes, Wyoming only discloses the business address on the Articles of Organization (and nothing about the name of the member). When you file the annual report in WY (a year after you form your LLC) someone will need to sign it as the "authorized rep" but whoever is signing that form it is not necessarily the member or manager. I hope I answered your question, but if not please let me know! Best regards, Chris

[@GaryThomasEntertainment]

Chris, what is your advice on using your own name in your LLC? I'm seeing videos that say never use your own name, videos that say sometimes, and videos that say it doesn't matter. Thanks.

[@cjlawvideos]

Hi. That's a good question (and I'm assuming anonymity is not important to you). I guess it comes down to whether you want to brand your name or some other brand. For example, I use my own name for my law firm (Chris Jackson Law, PC). In that entity, I'm the one doing all the legal work, and I want my clients to know who their dealing with at all times. Alternatively, for my LLCs I use names that are descriptive of what each LLC does. My name is not as important in those businesses, and I want the LLCs to carry on after I'm gone and for their respective brands to develop value. I hope that helps, but let me know if you have other questions. Thank you. Best regards, Chris

[@GaryThomasEntertainment]

@@cjlawvideos Thanks for the advice. I produce entertainment so I want my name to be known.

[@cjlawvideos]

​@@GaryThomasEntertainment Yep, that makes sense! Let me know if you have other questions, and best of luck to you and your entertainment business! Best regards, Chris

[@Cutestbabz]

how to check the name llc availability ? where to check that ?

[@cjlawvideos]

Hi. For Wyoming, I check here: wyobiz.wyo.gov/Business/FilingSearch.aspx. Also, Bizee has a free tool. If you select this link: bit.ly/IncFileForLLC, then choose "Resource Center" at the top, and then in the column on the left choose "Business Name Search Tool." Hope that helps! Best regards, Chris

[@yme8086]

in the package it mentioned a Business tax consultant is that like an accountant as time moves forward or do I have to hire my own accountant?

[@cjlawvideos]

Hi. Thanks for watching and for your question. The business tax consultation is about 30 minutes and will cover things like tax election (e.g., should your LLC be taxed as a sole-proprietorship or S Corporation), book keeping, tax savings strategies, etc. It is meant as a 1-time free session with immediate actionable items along with things to think about implementing long-term. However, if you need a CPA to file your tax returns, that will be something you would arrange separate from this formation-service add-on. I generally recommend having an accountant to help with ongoing or tax filing matters. If you need a referral, reach out to me at www.chrisjacksonlaw.com. I'll introduce you to the guy I use (who is smart and relatively inexpensive). Best regards, Chris

[@bryanmorote]

Hello, i live in nevada my llc is registered in nevada but 95% of the work is in california so when i do taxes i pay california taxes, what could you suggest? Should close my llc in nevada and open a new one in CA? Or open a foreign llc in CA and pay taxes in both states but i am not working that much in NV only like $5,000 a year in NV, i would appreciate your help of what i should do thank you!

[@cjlawvideos]

Hi. Thanks for watching and for your question. I cannot give legal advice without being retained (and cannot give tax advice), but here are some general things to consider. Since most of the work is in CA, you would likely have to either qualify/register your NV LLC as a foreign LLC doing business in CA or have a CA LLC. Since you reside in NV and have some work in NV, whatever route you choose would require you to be qualified to do business in both CA and NV. With that said, since NV has better asset protection laws than CA, I would simply keep your NV LLC and qualify it to do business in CA. I would normally recommend a WY LLC, but since you live in NV (and NV is in my top 3 of states in which to form an LLC), I would just maintain the status quo. Hope that helps, and I wish you and your business all the best. Thank you. Best regards, Chris