11 Top Wyoming Incorporation Services for Freelancers

Incorporating your freelance business in Wyoming can offer numerous benefits, including asset protection, tax advantages, and enhanced credibility.

Wyoming is particularly attractive due to its business-friendly environment, low fees, and strong privacy protections. Whether you’re just starting out or looking to formalize your business structure, choosing the right Wyoming incorporation service is crucial.

This guide will walk you through the top Wyoming incorporation services available, the costs involved, the reasons behind Wyoming’s popularity as a business hub, and the steps to incorporate your business.

Top 11 Wyoming Incorporation Services

When it comes to incorporating your freelance business in Wyoming, selecting a reliable service provider is essential. The following are some of the top Wyoming incorporation services available:

1. Firstbase.io

Firstbase.io simplifies the incorporation process by offering a comprehensive suite of services tailored for startups and freelancers. They provide everything from forming your company to setting up a business bank account, obtaining an EIN, and ensuring compliance with state regulations.

Pros

• Streamlined onboarding process.
• Access to legal and accounting resources.
• Competitive pricing.

Cons

• Limited to U.S. companies.
• Additional fees for advanced features.

2. Doola

Doola is designed to assist freelancers and small businesses with the incorporation process, particularly for those who need a Wyoming LLC. They handle the paperwork, help set up bank accounts, and offer tax support.

Pros

• Focused on freelancers and small businesses.
• Comprehensive package for LLC formation.
• User-friendly platform

Cons

• Limited service customization.
• Higher fees compared to some competitors.

3. Stripe Atlas

Stripe Atlas is a powerful tool for global entrepreneurs looking to incorporate in the U.S., particularly in Wyoming. Stripe Atlas offers a full suite of services including company formation, tax guidance, and banking.

Pros

• Integration with Stripe’s payment processing.
• Global accessibility.
• Easy-to-use interface.

Cons

• Higher cost.
• Designed more for tech startups than traditional businesses.

4. Clerky

Clerky focuses on helping startups and freelancers incorporate quickly and efficiently. They provide a simple, automated service that ensures your documents are correctly filed with Wyoming’s state authorities.

Pros

• Specializes in startups.
• Legal document automation.
• Strong customer support

Cons

• Primarily caters to tech startups.
• Fewer features for non-tech businesses.

5. LegalZoom

LegalZoom is one of the most well-known incorporation services, offering a wide range of legal services beyond just business formation. They provide packages that include company formation, compliance checks, and ongoing legal support.

Pros

• Trusted brand with a long history.
• Comprehensive legal services.
• Wide range of additional services.

Cons

• It can be more expensive than other services.
• Customer service can be inconsistent.

6. Inc Authority

Inc Authority offers free business incorporation services, only charging for additional features like EIN registration, operating agreements, and more. It’s a great option for freelancers on a tight budget.

Pros

• Free incorporation service.
• Affordable add-ons.
• Strong customer support.

Cons

• They have limited free features.
• Additional fees can add up quickly.

7. ZenBusiness

ZenBusiness provides an affordable, user-friendly platform for incorporating your business in Wyoming. They offer various packages that cater to different needs, including registered agent services and annual compliance checks.

Pros

• Affordable pricing.
• Excellent customer service.
• User-friendly platform

Cons

• Limited to U.S. entities.
• The basic plan lacks advanced features.

8. MyCorporation

MyCorporation offers incorporation services with a focus on customer service and ongoing compliance. They offer various packages including document filing, registered agent services, and compliance tracking.

Pros

• Strong customer service.
• Ongoing compliance support.
• Range of service packages.

Cons

• Higher prices for advanced features.
• Add-ons can be expensive.

9. MyCompanyWorks

MyCompanyWorks provides fast, reliable incorporation services with a focus on ease of use. They offer packages that include registered agent services, document filing, and business management tools.

Pros

• Fast processing times.
• Easy-to-use platform.
• Good customer support.

Cons

• Limited customization of services.
• Fewer advanced features.

10. Mainstreet

Mainstreet is geared towards tech startups and freelancers, providing an all-in-one platform for business formation, tax, and accounting services. Their focus is on simplifying the incorporation process and helping businesses stay compliant.

Pros

• Comprehensive business management tools.
• Easy-to-use interface.
• Strong support for tech startups.

Cons

• Higher cost.
• Not as suited for traditional businesses.

11. Incfile

Incfile is a popular choice for freelancers looking for affordable incorporation services. They offer free business formation with the option to add additional services as needed.

Pros

• Free incorporation services.
• Transparent pricing.
• User-friendly platform.

Cons

• They have limited free features.
• Upsells can increase costs.

How Much Does It Cost to Incorporate in Wyoming?

Incorporating your business in Wyoming is relatively affordable compared to other states. Wyoming incorporation services costs generally include state filing fees, registered agent fees, and any additional services you may need.

Here’s a breakdown of the typical Wyoming incorporation services costs:

1. State Filing Fee: Wyoming has one of the lowest filing fees in the country. The fee for filing the Articles of Incorporation or Articles of Organization with the Wyoming Secretary of State is $100. This fee is required whether you are forming a corporation or an LLC.

2. Registered Agent Fee: Every Wyoming business must have a registered agent with a physical address in Wyoming. The registered agent receives legal documents on behalf of the business. Fees for registered agent services typically range from $50 to $300 annually, depending on the service provider.

3. Annual Report Fee: Wyoming requires businesses to file an annual report, which comes with a fee of $50 or two-tenths of one mill on the dollar ($0.0002) of the company’s assets located and employed in Wyoming, whichever is greater. This fee is due on the first day of the anniversary month of your incorporation.

4. Additional Services: Depending on your business needs, you may require additional services such as obtaining an EIN (Employer Identification Number), operating agreements, or compliance management. These services can add anywhere from $50 to several hundred dollars to your total costs.

Overall, the total cost of Wyoming incorporation services can range from $150 to $500 or more, depending on the services you select. However, this is still more affordable than many other states, making Wyoming an attractive option for incorporation.

Why Do Companies Incorporate in Wyoming?

Wyoming has become a preferred location for businesses to incorporate for several reasons. Here’s why many companies choose Wyoming as their incorporation state:

1. No Corporate Income Tax: Wyoming is one of the few states that does not impose a corporate income tax. This means that businesses incorporated in Wyoming are not subject to state-level income taxes, allowing them to keep more of their profits.

2. Privacy Protection: Wyoming offers strong privacy protections for business owners. The state does not require the disclosure of the names of shareholders, directors, or officers in public filings. This ensures that the identities of business owners remain private, which is a significant advantage for those seeking confidentiality.

3. Low Fees and Costs: Wyoming’s incorporation fees are among the lowest in the country, and the state’s ongoing compliance costs are minimal. This makes it an affordable option for businesses, especially small businesses and freelancers.

4. Strong Asset Protection: Wyoming’s laws provide strong asset protection for business owners. For example, the state offers robust protections against creditors for single-member LLCs, which can help shield personal assets from business liabilities.

5. Business-Friendly Legal Environment: Wyoming has a pro-business legal environment with favorable laws for companies. The state’s courts are known for being efficient and business-friendly, making it easier for companies to resolve legal disputes.

6. Flexibility in Management: Wyoming offers great flexibility in how businesses can be structured and managed. There are fewer restrictions on the number of directors or officers a company must have, and businesses can be managed by either managers or members.

7. No Franchise Tax: Unlike many states, Wyoming does not impose a franchise tax on businesses. This means companies do not have to pay an annual tax simply for the privilege of operating in the state.

8. Ease of Incorporation: The process of incorporating in Wyoming is straightforward and can be completed quickly, often within a few days. The state also offers online filing options, making it convenient for business owners to incorporate from anywhere.

9. Attractive for Out-of-State Businesses: Many out-of-state businesses choose to incorporate in Wyoming due to its favorable business climate. Even if a business operates primarily in another state, Wyoming incorporation can provide significant advantages.

10. Long-Term Stability: Wyoming’s business laws have remained stable and consistent over the years, providing a sense of security for businesses. This stability is especially important for companies looking for a reliable and predictable legal environment to support long-term growth.

11. No Minimum Capital Requirements: Wyoming does not impose minimum capital requirements for forming a corporation or LLC. This means you can incorporate your business with little to no initial capital, making it easier for startups and freelancers to get started.

These factors combine to make Wyoming a highly attractive state for incorporation, particularly for freelancers and small businesses looking to optimize costs, protect their assets, and maintain privacy.

How Do I Incorporate a Business in Wyoming?

Incorporating your freelance business in Wyoming is a relatively straightforward process. Here’s a step-by-step guide to help you through the process:

A). Choose a Business Structure

1. LLC vs. Corporation: Decide whether you want to form a Limited Liability Company (LLC) or a corporation. An LLC is typically more flexible and easier to manage, making it a popular choice for freelancers. However, a corporation may be more suitable if you plan to seek investors or issue shares.

B). Choose a Business Name

2. Naming Rules: Your business name must be unique and distinguishable from other registered businesses in Wyoming. It should also comply with the state’s naming rules, which generally require that LLCs include “LLC” or “Limited Liability Company” in the name and that corporations include “Inc.” or “Corporation.”

3. Name Availability: Check the availability of your desired business name using the Wyoming Secretary of State’s online database.

C). Appoint a Registered Agent

4. Requirements: You must appoint a registered agent with a physical address in Wyoming. The registered agent is responsible for receiving legal documents on behalf of your business.

5. Choosing an Agent: You can either act as your own registered agent if you reside in Wyoming or hire a professional service to fulfill this role.

D). File the Articles of Incorporation or Organization

6. LLC Formation: For an LLC, you’ll need to file the Articles of Organization with the Wyoming Secretary of State. This document includes basic information about your business, such as the business name, registered agent, and management structure.

7. Corporation Formation: For a corporation, you’ll need to file the Articles of Incorporation. This document outlines the details of your corporation, including the business name, registered agent, number of shares, and the purpose of the corporation.

8. Filing Fees: Submit the filing fee, which is $100 for both LLCs and corporations.

E). Create an Operating Agreement or Bylaws

9. Operating Agreement: For an LLC, it’s advisable (though not required) to create an operating agreement that outlines the ownership and management structure of the business. This document helps prevent disputes and ensures that all members are on the same page.

10. Bylaws: For a corporation, creating corporate bylaws is essential. Bylaws define how the corporation will be governed, including details on shareholder meetings, voting procedures, and the roles of directors and officers.

F). Obtain an EIN (Employer Identification Number)

11. Purpose: An EIN is a unique identifier for your business, similar to a Social Security number for individuals. It’s required for tax purposes, opening a business bank account, and hiring employees.

12. Application: You can obtain an EIN for free from the IRS by applying online.

G). Register for State Taxes and Permits

13. Sales Tax: If your freelance business sells goods or services that are subject to sales tax, you’ll need to register for a Wyoming sales tax license.

14. Other Permits: Depending on your industry, you may need additional licenses or permits to operate legally in Wyoming. Check with the Wyoming Business Council or your local government for specific requirements.

H). Open a Business Bank Account

15. Separation of Finances: It’s crucial to keep your business finances separate from your finances. Open a business bank account to manage your company’s finances, accept payments, and pay expenses.

I). Comply with Ongoing Requirements

16. Annual Report: Wyoming requires all businesses to file an annual report, which includes basic information about the company and its financials. The report is due on the first day of the anniversary month of your incorporation.

17. Registered Agent Renewal: Ensure that your registered agent remains in good standing by renewing their services each year, if applicable.

J). Consider Additional Services

18. Business Insurance: Depending on your industry, you may need to obtain business insurance to protect against potential liabilities.

19. Ongoing Compliance: Some incorporation services offer ongoing compliance support, which can be valuable in ensuring that you stay on top of all legal and regulatory requirements.

By following these steps, you can successfully incorporate your freelance business in Wyoming and enjoy the benefits of operating in one of the most business-friendly states in the U.S.

How Long Does It Take to Incorporate in Wyoming?

The time it takes to incorporate your business in Wyoming can vary depending on several factors, including the method of filing and the workload of the Wyoming Secretary of State’s office. Here’s what you can typically expect:

1. Online Filing

Processing Time: If you choose to file your incorporation documents online, the process is usually the fastest. The Wyoming Secretary of State typically processes online filings within 1 to 3 business days.

Confirmation: Once your documents are processed, you will receive a confirmation email with your approved documents, including your Articles of Incorporation or Organization.

2. Mail Filing

Processing Time: Filing by mail generally takes longer than online filing. The processing time for mail filings can range from 5 to 10 business days, depending on the current workload of the Secretary of State’s office.

Additional Delays: Keep in mind that mailing times can add to the overall duration, so it’s important to account for potential delays when planning your incorporation timeline.

3. Expedited Filing

Expedited Options: For those who need to incorporate quickly, Wyoming offers expedited filing options for an additional fee. Expedited processing can often be completed within 24 hours or the same day, depending on the level of service selected.

Fees: Expedited processing fees vary, with the most basic expedited service typically costing around $50 to $100.

4. Registered Agent Setup

Same-Day Service: If you’re using a registered agent service, they often provide same-day setup, ensuring that your incorporation process is not delayed by the appointment of a registered agent.

5. Overall Timeline

Typical Duration: In total, the time to fully incorporate your business in Wyoming can range from 3 to 10 business days, depending on the filing method and whether you opt for expedited services.

Starting Operations: Once your incorporation is complete, you can begin operating your business legally in Wyoming. However, be sure to complete all additional steps, such as obtaining an EIN and opening a business bank account, before fully launching your operations.

Conclusion

Incorporating your freelance business in Wyoming offers numerous advantages, from cost savings and strong privacy protections to a business-friendly legal environment. By choosing one of the top Wyoming incorporation services and following the steps outlined above, you can ensure a smooth and efficient incorporation process.

Wyoming’s low fees, lack of corporate income tax, and robust asset protection laws make it an ideal state for freelancers looking to formalize their business structure. Whether you’re just starting or seeking to enhance your business’s credibility and protection, Wyoming provides a stable and advantageous environment for your incorporation needs.

With the right preparation and the support of a reliable incorporation service, you can take advantage of all that Wyoming has to offer and set your freelance business on the path to long-term success.