Are you looking to incorporate in Wyoming? It is one the best states in the United Sates to incorporate, particularly for a Canadian or a Non-resident of the United States. Let’s look into this.
Wyoming incorporation requirements in the United States
Wyoming is the 10th largest state by area in the United States, located on the western side of the country with the least populous state. This state is surrounded by Montana, South Dakota, Nebraska, Idaho, Utah, and Colorado. The state population is around 576,851 as per the 2020 census, and the state capital is Cheyenne.
We want to share with you overall procedures and rules regarding the incorporation of a company in Wyoming. This set of rules have been described based on corporate name, director information, corporate records, corporate taxes, S-corporation election, etc.
In Wyoming, organizations do not need to utilize a corporate name that ends with a word like incorporation or abbreviated as Inc. Further, these names must not reflect the purpose other than purpose/purposes discussed in your article of association.
Also, the name cannot be similar to the name of other corporations, including domestic, foreign, trade name, trademark, trade name, and a service mark registered in the state.
Further, the word of the trust is restricted for usage, and the university, education, school, and academy are not allowed unless approved by the education department.
Directors of the corporation
Following are the requirements for the Director of a corporation in Wyoming.
Articles of incorporation of a corporation in Wyoming
This document is required for the incorporation of the company in Wyoming. The information necessary for the incorporation includes the following.
Corporation record keeping
Following record-keeping requirements need to be complied with in Wyoming or with the registered agent.
In addition to this, the following standard corporate records need to be kept and maintained.
Corporate taxes and associated filing fees
The following are the requirements for the taxes and fees in Wyoming.
There is no state tax in Wyoming. So, Wyoming does not recognize the federal S-corporation election. Further, it does not require state-level s-corporation polls as well.
Wyoming levies state sales tax @4% on most purchases except on some services, groceries, and prescription drugs, and some local authorities also collect sales tax up to 2%.
RKB Accounting has expertise in cross-border taxation and has been providing accounting and taxation services for the last fifteen years in Canada and USA. RKB services include incorporating a business on both sides of the border, bookkeeping, sales tax, payroll, and corporate and personal income tax. RKB’s expertise includes cross-border tax planning, long-term tax planning, helping business start-ups, business structure planning, and resolving complex tax matters. RKB a CPA(Delaware), CA(India), and CIA(USA) has over 25 years of experience in accounting and taxation in dealing with various countries in the world.
Disclaimer: Information in the blog/post/article has been presented for a broad and simple understanding. This is not legal advice. RKB Accounting & Tax Services does not accept any liability for its application in any real situations. You need to contact your accountant or us for further information.