--- title: What’s the Deal with Wyoming LLCs? | LedgerFi description: Wyoming LLCs offer privacy, tax perks, and strong asset protection—but are they right for your business? Get the pros & cons from the experts at LedgerFi. image: https://www.ledgerfi.co/hubfs/LedgerFi-OG-Default.png --- Business Structure # What’s the Deal with Wyoming LLCs? Wyoming LLCs offer privacy, tax perks, and strong asset protection—but are they right for your business? Get the pros & cons from the experts at LedgerFi. [ Nathan Hodgens ](https://www.ledgerfi.co/resources/author/team-ledger) Apr 9, 2025 [mailto:?subject=Check%20out%20https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs&utm_medium=social&utm_source=email%20&body=Check%20out%20https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs&utm_medium=social&utm_source=email](mailto:?subject=Check%20out%20https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs&utm_medium=social&utm_source=email%20&body=Check%20out%20https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs&utm_medium=social&utm_source=email) [Business Structure](https://www.ledgerfi.co/resources/tag/business-structure) #### TABLE OF CONTENTS - [Background](https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs#Background) - [Benefits of a Wyoming LLC](https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs#Benefits) - [Disadvantages of a Wyoming LLC](https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs#Disadvantages) - [Bottom Line](https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs#Bottom) ![What’s the Deal with Wyoming LLCs?](https://www.ledgerfi.co/hubfs/istockphoto-1063332582-612x612.jpg) × Need Help Fast? Talk to an Expert Instantly [** Call now ** ](tel:+18886026210) [ Schedule call ](https://meetings.hubspot.com/jeremy721/web-consultation?uuid=72d6ad92-b616-4404-8180-05ac0a3a20cd) The legal structure of LLCs has skyrocketed in popularity with the increase in entrepreneurship in the US. With new businesses on the rise, you might have noticed Wyoming and the benefits of creating an LLC in their state. With great benefits, Wyoming has certainly gathered a strong reputation for being a business-friendly state. But what exactly are those benefits, and are there any disadvantages?  ## **Background ** The outline for an LLC wasn’t presented until 1997, when accountants and lawyers of Hamilton Oil Company presented the LLC structure to Alaska. However, Alaska rejected this proposal, and soon after, Wyoming received the proposal and became the first state to pass the LLC law.  ## **Benefits of a Wyoming LLC**** ** To say that there are benefits in Wyoming is an understatement because Wyoming is quite literally full of them.  ### **Cost of forming an LLC ** Wyoming offers a very low cost of actually forming an LLC. As of this writing, the cost to form your own LLC is $100 per the information provided by the Wyoming Secretary of State. Additionally, it is important to budget in around $60 for the annual report fee.  ### **Privacy ** In Wyoming, the managers and members of the LLC are not required to be named in any public records. This can allow for some privacy outside of the company from any unwanted attention.  ### **State Taxes ** As far as taxes are concerned, Wyoming offers no corporate, income, or personal tax. This can soften any financial troubles that you may have regarding your business so that the sole focus is directly on keeping your business thriving with profit.  ### **Asset Protection ** If assets are your number one priority, then Wyoming has your back. Wyoming offers some of the best asset protection you can find. A creditor is unable to seize control of your business due to the charging order protection and additionally, Wyoming has several asset protection laws in place to protect certain business assets from creditors.  ## Still Have Wyoming Questions? Talk to an expert directly! Call now at (888) 602-6210 [** Call now ** ](tel:+18886026210) ## **Disadvantages of a Wyoming LLC** ### **Incomplete Anonymity** While Wyoming does have one of the best privacy protections out there for business owners, those looking to take advantage of this protection must still have a registered agent with a local address. This can allow the agent to act as a receiver of legal documents. ### **Asset Protection Outside of Wyoming** Although Wyoming will indeed protect your assets, this protection does not extend outside of Wyoming. This means that Wyoming’s asset protections do not extend outside of its state. ### **Non-Residents Still Pay Taxes** Those who are non-residents of Wyoming must keep in mind that they are still required to pay their taxes within their respective state of residency. Opening an LLC in Wyoming will not help avoid paying taxes in other states for non-residents of Wyoming. ### **Foreign LLC** If your business chooses to expand to another state then you must register as a foreign LLC within the state you wish to do business in. This will require you to comply with its annual state registration and any applicable state taxes. ## Still Have Questions? Talk to an expert directly! Call now at (888) 602-6210 [** Call now ](tel:+18886026210) [ Schedule a call ** ](https://meetings.hubspot.com/jeremy721/web-consultation?uuid=27a565c2-a1b5-4aab-857e-4f61ccf3f514) ## **Bottom Line** Now, apart from the pros and cons of forming an LLC in Wyoming, one has to ask oneself why they would choose to actually form an LLC in Wyoming. Of course, the benefits speak for themselves but you also have to think if it is worth having an LLC in a whole different state than your own. Unless your business is only in Wyoming, then you will still have to pay any sort of taxes that your other LLCs are located in. If you are considering owning an LLC of your own in Wyoming, [consult with our Tax Experts](https://meetings.hubspot.com/jeremy721/web-consultation?uuid=ca861878-cb0c-4847-bcce-aac584da8203) here at Ledgerfi and find out if Wyoming is the best fit for your business. ## Similar posts Tax Optimization ### [Understanding Tax Liability: What It Is & What It Means for Your Business](https://www.ledgerfi.co/resources/understanding-tax-liability-what-it-is-what-it-means-for-your-business) Learn what tax liability means for your business, how it's calculated based on entity type, and key tips to minimize what you owe at tax time. Nathan Hodgens Apr 21, 2025 Business Growth ### [Accounting vs. Bookkeeping: What’s the Difference & Why You Need Both](https://www.ledgerfi.co/resources/accounting-vs.-bookkeeping-whats-the-difference-why-you-need-both) What's the difference between accounting & bookkeeping? Learn how each supports your business & why you need both to stay compliant, and ready to... Nathan Hodgens Apr 21, 2025 Business Structure ### [What is: Partnership?](https://www.ledgerfi.co/resources/what-is-partnership) Thinking of starting a partnership? Learn how business partnerships work, including types, taxes, pros, cons, and how to set one up—step-by-step. Nathan Hodgens May 22, 2025 ## Talk to a Small Business Advisor Today ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Nathan Hodgens", "url" : "https://www.ledgerfi.co/resources/author/team-ledger" }, "dateModified" : "2026-04-13T19:06:34.353Z", "datePublished" : "2025-04-09T19:39:52.000Z", "headline" : "What’s the Deal with Wyoming LLCs?", "image" : [ "https://www.ledgerfi.co/hubfs/istockphoto-1063332582-612x612.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.ledgerfi.co/resources/whats-the-deal-with-wyoming-llcs", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.ledgerfi.co/hubfs/ledger-logo-green%20(3).svg" }, "name" : "Ledger Fi" } } ``` ```json { "@context" : "https://schema.org", "@id" : "https://www.ledgerfi.co/#organization", "@type" : [ "AccountingService", "LocalBusiness" ], "address" : { "@type" : "PostalAddress", "addressCountry" : "US", "addressLocality" : "Cupertino", "addressRegion" : "CA", "postalCode" : "95014", "streetAddress" : "20065 Stevens Creek Blvd. Ste.B-1B" }, "areaServed" : [ { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "California" }, "name" : "San Jose" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "California" }, "name" : "San Francisco" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "Illinois" }, "name" : "Chicago" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "California" }, "name" : "Irvine" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "Texas" }, "name" : "Austin" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "Arizona" }, "name" : "Phoenix" }, { "@type" : "City", "containedInPlace" : { "@type" : "State", "name" : "Florida" }, "name" : "Orlando" } ], "description" : "LedgerFi provides bookkeeping, payroll, and expert tax strategy coaching for small businesses. 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