With our 5-step process, forming a company in Wyoming is simple. A company may be formed by submitting formation paperwork with your state and forming a board of directors.
We’ll teach you how to form your own company in Wyoming.
Wyoming makes it simple to form a corporation.
In Wyoming, you may form a company by submitting the Certificate of Incorporation, drafting corporate bylaws, and naming your first director (s).
To get started, follow the steps in our How to Start a Corporation in Wyoming tutorial below:
Step 1: Give Your Wyoming Corporation a Name
Step 2: Select a Registered Agent.
Hold an Organizational Meeting in Step 3
Step 4: Submit your Articles of Incorporation.
Step 5: Obtain an EIN
Step 1: Give Your Wyoming Corporation a Name
The first step in forming a company is to choose a business name. You must choose a distinct name that conforms with Wyoming company naming regulations.
1. Wyoming naming conventions:
Your name cannot indicate that the company was founded for any illegal or non-outlined purpose in its articles of formation.
Any of the following terms (or words with similar meanings) must be approved by the state Division of Banking: bank, banker, banc, bancorp, bancorporation, banque, banquers, banco, banca, trust.
Any of the following terms must be approved by the state Department of Education: academy, college, educate, education, educational, institute, institution, school, or university.
Names that begin with the letter “A” followed by a space or punctuation; include special characters; or are in a language other than English must be reviewed again by the Wyoming Secretary of State.
Your name must be distinct from any other current company in the state. Wyoming reserved names are included.
2. Is my business name accessible in Wyoming?
Your Wyoming company name must be distinct and distinct from other Wyoming business names. To see whether your chosen business name is available, use the Wyoming Secretary of State’s Business Entity Search.
Visit our How to Name a Business guide and pick Wyoming from the drop-down box for further information on Wyoming corporation name searches.
3. Is the URL accessible?
Before forming your Wyoming company, check to see whether an appropriate URL for your selected business name is accessible. Even if you don’t intend to create a company website right immediately, we recommend purchasing a web domain right away to avoid other companies from obtaining it.
Step 2: Select a Registered Agent in Wyoming.
When you file your company with the Secretary of State, you must choose a Wyoming registered agent.
What exactly is a Registered Agent? A registered agent is a person or organisation chosen by an LLC or corporation to accept service of process, government communications, and compliance paperwork on behalf of a company.
Who Is Eligible to Be a Registered Agent? An person, a corporate organisation, or a professional registered agent service may serve as your registered agent. Any company or individual may act as your Wyoming registered agent as long as the person:
is at least 18 years old
has a physical address in the state where business is done
is accessible during regular business hours (in person).
Step 3 Hold an Organizational Meeting
Before filing the Articles of Incorporation formally in Step 4, you must conduct an organisational meeting to perform the following tasks:
Complete and sign the Articles of Incorporation.
Establish and approve bylaws
Choose your first director (s)
Determine your ownership structure.
Fill out an Incorporator’s Statement.
Establish and Approve Corporate Bylaws
Bylaws are the rules that regulate and control how your organisation is governed and operated. Consider the bylaws to be your corporation’s constitution. It clarifies the norms and priorities for all parties involved.
The bylaws of a company will augment any regulations established by the federal government or the state.
Include the following in your bylaws:
The governance of the company, including the roles of directors and officials
Meeting processes, voting procedures, and the election of executives or directors
How will records be preserved and managed?
How will disagreements be resolved?
How will bylaws be added/modified in the future?
The annual shareholder meeting date
Contract Negotiation Techniques
Fiduciary responsibilities to the company (i.e. acting in the best interests of the corporation)
What is a quorum for voting purposes?
What exactly is a quorum? A quorum is the minimal number of members who must be present at a meeting in order for the meeting’s actions, including any votes, to be legitimate.
Appoint the First Directors
At least one director must be appointed to monitor your Wyoming company until the first shareholder meeting.
A corporate director is in charge of operational bylaw adoption, modification, and repeal, as well as the election, monitoring, and removal of officers.
Following the incorporation of the company, the incorporator(s) — or initial director(s), if listed on the formation papers — shall convene an organisational meeting. During this inaugural meeting, either the incorporator(s) or the initial director(s) will elect the board of directors.
Selecting a Share Structure and Strategy
A share of stock is a corporation’s unit of ownership. Each share of stock reflects a proportion of the company’s ownership. If a business issues one share of stock, the shareholder (stock owner) owns 100% of the corporation.
Shares may be divided into classes. Each class, known as a share class, has unique rights and advantages. There may be several classes, and each class can have an unlimited number of shares.
The Articles of Incorporation form in Wyoming enables you to specify whether the company will issue more than one approved share class or series.
NOTE: We suggest that you begin with a large number of authorised shares. Many lawyers advocate for a million dollars. Starting with a large number allows you to issue shares as required without incurring legal expenses to enhance your original permitted share size.
Make and implement an Incorporator’s Statement
The incorporator(s) shall sign and preserve an Incorporator’s Statement with the full names and addresses of all initial directors in the corporate records book.
The first director(s) named in this agreement will serve until the board of directors is chosen at the first shareholder meeting. It should be kept with the rest of your company’s records.
Step 4: Submit your Wyoming Articles of Incorporation.
To form a company in Wyoming, you must first submit the Wyoming Articles of Incorporation. The Articles of Incorporation are the legal documents that establish your Wyoming company. You may submit it with the Wyoming Secretary of State by mail or online. The fee for filing is $100.
This paper will address the fundamentals of your company, such as:
Name and address of the corporation
Name and street address of the corporate registered agent
The quantity and kind of authorised shares that a company may issue.
Name(s) and address of incorporator(s) (es)
A specified contact person’s email address
Step 5 Get an EIN for Your Wyoming Corporation
What exactly is an EIN? The federal government uses an Employer Identification Number (EIN) or Federal Tax Identification Number (FTIN) to identify a company organisation. It is effectively the company’s social security number.
Why do I need an EIN? An EIN is necessary for the following activities:
To establish a commercial bank account for the firm
In terms of federal and state taxation
To recruit workers for the firm
How can I get an EIN? After founding the firm, the business owner obtains an EIN from the IRS (free of charge). This may be done online or in the mail.