Wyoming was the first state to create the LLC back in 1977, and it still runs one of the cheapest, most straightforward versions of it in the country. No income tax, no franchise tax, and an annual fee most LLCs never see rise past $60. Here's what it takes to start a business in Wyoming in 2026.
1. Which business structure fits you?
Before you file anything, it helps to know what you're actually choosing between.
- Sole proprietorship. No filing required to start, and you and the business are legally the same entity. Simple, but you're personally liable for whatever the business owes.
- Partnership. Two or more people running a business together, with the same liability exposure as a sole proprietorship, just split across partners.
- LLC. The most common structure for small businesses in Wyoming, and the structure the state itself pioneered. It separates your personal assets from the business's debts and lawsuits.
- Corporation, either S-corp or C-corp. More paperwork and more formality, usually worth it once you're bringing on investors or multiple shareholders.
For a deeper comparison, see our guide on choosing a business structure.
LLCs and corporations register with the Wyoming Secretary of State, the agency that handles business filings statewide. Sole proprietorships and general partnerships don't register there.
2. Register your business
Forming an LLC
You form an LLC in Wyoming by filing Articles of Organization with the Secretary of State. The filing fee is $100 (about $104 if you pay online), and filings submitted through the state's WyoBiz portal are approved instantly.
Every LLC needs a registered agent with a physical Wyoming address, available during business hours. You can act as your own agent if you live in the state, or hire a commercial service.
Wyoming doesn't require an operating agreement by law, but it's still worth writing one, particularly for multi-member LLCs, to spell out how decisions and profits get split.
Sole proprietorships and DBAs
Sole proprietorships don't file with the Secretary of State. If you're operating under a trade name, you'll register it separately with 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 online. You'll need one to open a business bank account, hire anyone, or file most business tax forms, even if you're a single-member LLC with no employees.
4. Check licenses and permits
Wyoming doesn't have a general statewide business license requirement for most LLCs. What you actually need depends on your industry and city: professional licensing for regulated fields, local licenses in some cities like Cheyenne and Casper, and a sales tax license from the Department of Revenue if you sell taxable goods or services. Our guides on professional licensing by industry and zoning laws for home businesses cover more of this.
5. Understand Wyoming taxes
Wyoming has no personal or corporate state income tax, a protection written directly into the state constitution, and no franchise tax either. The annual license tax covered below is essentially the entire state-level cost of keeping the LLC alive.
Sales tax starts at a 4% state base, with counties and some resort districts adding local option taxes on top, pushing the combined rate to somewhere between 5% and 9% depending on where you are.
6. Stay compliant
Every Wyoming LLC files an annual report starting the year after formation, due on the first day of your anniversary month. The fee is the greater of $60 or $0.0002 per dollar of Wyoming-located assets, so unless your LLC holds substantial physical assets in the state, you'll pay the $60 minimum. Miss the deadline and Wyoming dissolves the LLC 60 days later, 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, Wyoming has no personal or corporate state income tax, a protection written directly 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 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 pay the $60 minimum.
What happens if I miss Wyoming's annual report deadline?
Wyoming dissolves the LLC 60 days later, with no extended grace period.
Fees and rates above come from the Wyoming Secretary of State and Department of Revenue as of 2026, and they do change over time, so double check before you file. None of this is legal or tax advice. Talk to a Wyoming-licensed attorney or CPA about your specific situation.