[00:01] through exactly how to start an LLC in Wyoming and why it's one of the best states to form an LLC, especially if you run an online business. So, whether first time or looking to restructure an existing one, this video will give you
[00:15] let's talk about why Wyoming is the best state to form an LLC. The first reason is that Wyoming can give you privacy protection. So, unlike most other states where your name and address is going to
[00:27] be listed in public records, Wyoming allows you to set up your LLC to be anonymous. So, when people search up your LLC online, your name and address won't show up. What you need to do to stay anonymous is to use a commercial
[00:39] address so that you can keep your personal information completely off the public record. The second reason is that Wyoming has no state income tax. That means your LLC won't be taxed at the state level, which is a huge advantage,
[00:53] especially for online business owners. And lastly, Wyoming has very low annual fees, which makes it one of the most affordable states to maintain your LLC long-term compared to most other states. Now, let's get into the exact steps of
[01:05] how to form your LLC in Wyoming. Step number one is to choose a business name. You'll want to pick a name that is unique and not already taken by another business in Wyoming. You want to make sure that it ends with LLC or limited
[01:17] liability company as that is required by the state. Step two is to appoint a registered agent. So, every LLC is required to have a registered agent. A Wyoming registered agent must have a physical address in Wyoming and they
[01:29] must be available during normal business hours. The purpose of the registered agent is to help you receive any official legal documents and notices on the behalf of your LLC. And as we mentioned earlier, using a commercial
[01:41] registered agent is also what allows you to keep your personal information private. Step number three is to file your articles of organization. This is the legal document that legally establishes your LLC in Wyoming. It
[01:53] includes basic information like your LLC's name and your registered agent's name and address. Step number four is to create an operating agreement. This is not required by the state, but it is highly recommended to have. This
[02:05] structures and the roles within your LLC. Step number five is to get your EIN. The EIN stands for employer identification number and it is basically the ID number for your business. You need it to file taxes and
[02:18] also to open a business bank account. Step number six is to open a business bank account. This is important because you want to keep your personal and business finances completely separate. The final step is to maintain ongoing
[02:30] compliance. This includes paying the required annual state fees and also filing your annual report. Wyoming requires LLCs to file an annual report every year to keep the business in good standing. You also want to maintain a
[02:42] registered agent for your business since they receive official legal documents and notices on your behalf. And as long as you file your annual report on time and keep a registered agent on record, then your Wyoming LLC will remain in
[02:54] good standing with the state. Now, when it comes to actually forming your LLC in Wyoming, the service that I personally recommend is Northwest Registered Agent. really good experience with them. The pricing is very reasonable and they will
[03:07] also act as your registered agent, which as we talked about before is what keeps your personal information off the public records. And the process is really minutes to get everything set up. So, if you want to follow along with me, I've
[03:20] below and it will take you straight to this page. And once you're on this page, you can click on let's get you started. And then we are going to select the entity type. So, we are going to select
[03:33] LLC and then pick the jurisdiction. So, we're going to go with the state of So, we're going to go with the state of Wyoming. fee here. That is just the fee that Wyoming charges.
[03:46] And next we are going to put in the company's name. So, just input your company's name. I'll just go with my name for now. And then enter your name, phone number, and also address.
[03:59] Let's scroll down and you also have the option to send a copy of any legal notices to your attorney. I will just select no. And for the address for state records, you can select a fiscal address and also a mailing address. So, it is
[04:12] agent's address so that way you can keep your address private. So, that's what we are going to do. And then let's click on continue. And then you are going to select your management type. So, it's either going to be member managed or
[04:25] you can just click on this question mark here and then it will explain to you what's the difference between member managed and also manager managed. And managed. So, that's what we are going to go with and just input your name here.
[04:40] And also for the address to record with the state, I will also leave it as the registered agent's address. Let's click on continue. And here are the list of recommended service that you can select. So, I'd like to select the tax ID so
[04:53] they can also help you get the EIN. So, I think that's very helpful. And you can also select any of these services if they are helpful to you. So, for now just go with this and click on continue. And then create an email and password
[05:05] continue. And then you can enter your payment information and once you are payment information and once you are done, you can submit your order.