Why incorporate in Wyoming?
Wyoming is one of the few states in the United States that offer excellent tax incentives. Wyoming is a state that has neither corporate taxes (however you are taxed on all withdrawals) nor individual income tax. Wyoming allows directors or shareholders meetings to be held from anywhere in the world and there is also minimum limited liability when you have a Limited Liability Corporation (LLC). It is also not necessary for one to have an actual office in the state of Wyoming. Many non-U.S citizens are attracted to Wyoming because it is seen as an offshore tax haven.
In order to own an LLC in Wyoming one cannot have members that are citizens or reside in the United States. Members may be foreign to the United States or offshore corporations. The LLC cannot earn income in the United States, engage in trade in the United States and cannot have a fixed office or place in the United States.
Wyoming also offers complete confidentiality as it allows the use of nominee directors for an LLC. This allows complete anonymity for your LLC and its affairs. Wyoming also offers excellent asset protection through the Wyoming LLC laws which were updated in 2010 and also does not have hidden fees entrenched in the system in states such as Nevada.
Benefits of having an LLC in Wyoming include:
- There are no State Income Taxes.
- There is no information collected that is to be shared with the International Revenue Service (IRS).
- Nominee directors are allowed.
- Shareholders are not listed with the state.
- Non-U.S citizens are welcomed to have an LLC in Wyoming.
- Wyoming has a low start up cost.
- State tax not being considered
- Wyoming draws little attention
- Excellent asset protection laws