Wyoming invented the LLC back in 1977, and nearly five decades later it still runs one of the leanest, cheapest versions of that structure anywhere in the country: no income tax, no franchise tax, and an annual fee that rarely climbs past $60. Here's what forming and maintaining a Wyoming business actually looks like in 2026.
1. Which business structure fits you?
Before filing anything, here's what's on the table:
- Sole proprietorship. Nothing to file to get going, since you and the business are one legal entity. It's the simplest route, but you're personally liable for whatever the business owes.
- Partnership. Two or more people running a business jointly, carrying the same liability exposure as a sole proprietor, just divided among them.
- LLC. The default choice for most small Wyoming businesses, and fittingly the structure the state itself pioneered. It keeps your personal assets separate from the company's debts and lawsuits.
- Corporation, S-corp or C-corp. Comes with more paperwork and formal governance, generally worth adopting once investors or multiple shareholders enter the picture.
For a deeper comparison, see our guide on choosing a business structure.
LLCs and corporations register with the Wyoming Secretary of State, the office that handles business filings statewide. Sole proprietorships and general partnerships have no reason to register there.
2. Register your business
Forming an LLC
A Wyoming LLC is formed by filing Articles of Organization with the Secretary of State. The fee is $100 by mail, or about $104 if paying online, and filings submitted through the state's WyoBiz portal get approved instantly.
Every LLC needs a registered agent with a physical Wyoming address, available during business hours. If you live in the state, you can serve as your own agent, or you can hire a commercial service instead.
Nothing in Wyoming law requires an operating agreement, but it's still worth writing one, particularly for multi-member LLCs, since it's the document that spells out how decisions and profits get divided.
Sole proprietorships and DBAs
Sole proprietorships have nothing to file with the Secretary of State. Operating under a trade name means registering it separately through the Secretary of State's trade name division.
3. Get an EIN
An Employer Identification Number is free straight from the IRS and takes about 15 minutes to get online. You'll need one to open a business bank account, hire anyone, or file most business tax forms, even running a single-member LLC with no employees.
4. Check licenses and permits
Most Wyoming LLCs face no general statewide business license requirement. What you actually need depends on your industry and city: certain professions carry their own licensing, some cities like Cheyenne and Casper require local licenses, and selling taxable goods or services means getting a sales tax license from the Department of Revenue. Our guides on professional licensing by industry and zoning laws for home businesses cover both in more depth.
5. Understand Wyoming taxes
Wyoming has no personal or corporate state income tax, a protection written directly into the state constitution, and there's no franchise tax on top of that either. The annual license tax covered below is essentially the entire state-level cost of keeping the LLC alive year to year.
Sales tax starts at a 4% state base, and counties along with a few resort districts add local option taxes on top, pushing the combined rate to somewhere between 5% and 9% depending on location.
6. Stay compliant
Wyoming LLCs file an annual report starting the year after formation, due on the first day of the LLC's anniversary month. The fee is the greater of $60 or $0.0002 per dollar of Wyoming-located assets, so unless the LLC holds substantial physical assets in the state, expect to pay the $60 minimum. Miss the deadline and Wyoming dissolves the LLC 60 days later, with no extended grace period.
Wyoming business costs at a glance
| Item | Cost |
|---|---|
| Articles of Organization (LLC) | $100 mail / ~$104 online |
| Annual report license tax (every year) | $60 minimum |
| Registered agent service (optional) | $150 to $300/year |
| EIN | Free (IRS) |
| State income tax | None |
| State sales tax | 4% + local, up to ~9% |
Frequently asked questions
Did Wyoming invent the LLC?
Yes. Wyoming was the first state to create the LLC structure, back in 1977.
Does Wyoming have state income tax?
No. There's no personal or corporate state income tax, a protection written into the state constitution, and no franchise tax either.
How much does it cost to form an LLC in Wyoming?
$100 by mail, or about $104 if you pay online, for Articles of Organization.
How much is Wyoming's annual report license tax?
The greater of $60 or $0.0002 per dollar of Wyoming-located assets, so most LLCs simply pay the $60 minimum.
What happens if I miss Wyoming's annual report deadline?
The state dissolves the LLC 60 days later, and there's no extended grace period.
Fees and rates above come from the Wyoming Secretary of State and Department of Revenue as of 2026, and both change from time to time, so confirm before filing. Nothing here is legal or tax advice. Talk to a Wyoming-licensed attorney or CPA about your specific situation.