When you first set up your business, did you look to other states to set up your Limited Liability Company or corporation? What was the price you paid and are paying annually? Some states like California have a minimum charge for your corporations annual filing of eight hundred dollars! Incorporating in the state of Nevada could cost you three hundred and fifty dollars to six hundred and fifty dollars minimum per year.
Let’s face it, you did not start your business to support the government. You started your business to support your family and be your own boss. That is why we recommend moving your corporation to Wyoming. They don’t have a state income tax and their initial and annual fees are reasonable for starters.
Even if you have an established company in one state, you can move that corporation to another state where the laws are more on your side. You simply need to transfer your company to a new jurisdiction. You don’t need to set up another bank account or line of credit because they can be in the state you are doing business in. You also keep your Employer Identification Number which is great because you are not starting your business over.
Reasons to Incorporate in Wyoming:
- Nominal Annual Fees
- There is not personal income tax in Wyoming
- Purchasing, holding selling or transferring of its stock is allowed in Wyoming
- There is no Franchise Tax in Wyoming
- Wyoming does not have a Personal Income tax
- Wyoming does not have a Gift Tax and no Inheritance Tax
- There is not State Business License in Wyoming
- There are competitive Property Taxes or Sales Taxes
Wyoming has Asset Protection
Incorporating in Wyoming can protect you from a lawsuit. If a company or individual tries to sue your corporation, the suit needs to be tried in the state of Wyoming. It can be very expensive, so most lawyers will not pursue a case. Also, Wyoming has over one thousand six hundred lawyers who are ready to represent your business.
As you may know, incorporating in general protects your personal assets as well. So, you have double protection when incorporating in Wyoming.
What is it Going to Cost to Incorporate in Wyoming?
Incorporating in Wyoming is inexpensive with the going rate of one hundred dollars. Wyoming charges fifty dollars to obtain your Certified Documents form your State of Domicile. Our fee for putting all this together is only fifty dollars. Lastly, you will pay us our annual rate of sixty-nine dollars and ninety-five cents. Your total to transfer is only two hundred dollars ninety-five cents.
In order to change your domicile to Wyoming you will need to have a registered agent. Wyoming Discount Registered Agent, Inc. has been helping companies transfer their corporation to Wyoming. The fees we charge are nominal at only sixty-nine dollars and ninety-five cents annually.
Even better, if your assets are less than two hundred and fifty thousand inside the State of Wyoming, your corporation renewal fees are only fifty dollars annually.