As you may already know, Wyoming was the original state in the country to adopt limited liability statutes. As such, Wyoming has been a leader in the nation on limited liability companies. The limited liability company was an advent of business ease—ease of creating an entity and getting on with business, while still maintaining entity formalities.
Wyoming is currently running second in the nation for the number of formations of limited liability companies. There are several reasons for this.
- Wyoming is pro-business and has a friendly business climate. Wyoming also charges less in business fees and taxes than other states, and in most cases, substantially less.
- Next, Wyoming typically requires fewer permits when operating a business in Wyoming. We have all heard horror stories of the dozens of permits required in other states to begin operating a business, even for the most basic business services. Wyoming prides itself in not letting this happen in its business-friendly state.
- Finally, Wyoming also values your privacy to a much higher degree than other states. This means that, while the registered agent and certain governmental entities will know who you are, the general public is not given your personal information as part of the entity formation in Wyoming.