A Wyoming LLC operating agreement is a legal instrument used to outline the rights & duties of members involved in a business entity. It indicates who has ownership and what role they play in the organization. The abbreviation “LLC” stands for “Limited Liability Company,” meaning that any business under this category will receive similar protection to larger corporations.
Does Wyoming Require an Operating Agreement?
No. There is no legal statute that requires an LLC to complete an operating agreement, but it is highly recommended.
By Type (2)
Multi-Member LLC Operating Agreement
– A contract used for businesses containing more than one (1) member so that they can clarify who is involved, what position they have, and the overall policy of the company.
Download: Adobe PDF, Word (.docx)
Single-Member LLC Operating Agreement
– This document specifically caters to sole proprietors wishing to confirm their company’s status as a separate entity from themselves and to establish the business’s rules of operation.
Download: Adobe PDF, Word (.docx)
How to Start an LLC (5 Steps)
- Select a Company Name
- Choose a Registered Agent
- Submit an Application
- Execute an Operating Agreement
- Obtain an Employer Identification Number (EIN)
1. Select a Company Name
Every business must have its own distinct name and include some variation of “Limited Liability Company” within the title.[1] Create a list of potential names for the company and search the state’s database to confirm that your selection is not already in use.[2]
(The Wyoming Secretary of State offers a guide for further instructions.)
2. Choose a Registered Agent
A “registered agent” is a person designated by the business to receive any legal documents, tax filings, or government notices regarding the company. Executors may elect themselves, their attorney, or any other individual of trust who is above the age of eighteen (18) and also contains a physical Wyoming address (PO Boxes not allowed).[3]
3. Submit an Application
To activate an LLC, you must first register it with the state. Depending on the circumstances, applicants can file one (1) of the following:
- Articles of Organization – This document is used to form domestic LLCs.[4] To complete, follow the checklist below:
- Visit the Wyoming Secretary of State’s website and register online; OR
- Download a copy, provide the requested information, and send it via mail to the corresponding address.
- Be prepared to pay a filing fee of $100.00 (payment options vary depending on the application method).
- Application for Certificate of Authority – This is designated for foreign companies seeking to conduct business in Wyoming.[5] To apply, you must:
- Download the form and fill it out accordingly.
- Provide an original certificate of existence/good standing.
- Include a completed Use of Fictitious Name form if the LLC’s name is unavailable.
- Supply a check or money order of $150.00 made payable to “Wyoming Secretary of State.”
- Send the documents to the address provided within the application.
4. Execute an Operating Agreement
An operating agreement is not something that needs to be filed with the state. However, it should be fulfilled for the purpose of describing the business’s guidelines and overall function. Select one of the two (2) types of operating agreements that applies to your company and fill it out accordingly:
After completing the document, each member should sign the form and retain a copy for their own personal records. It may only be amended if every relevant member signs off on the alterations.[6]
5. Obtain an Employer Identification Number (EIN)
An EIN is required for any company with more than (1) member, or that intends to hire employees.[7] It is also necessary to open a business bank account. Only a person authorized by the company, known as the “responsible party,” will have the authority to apply for an EIN.
This can be achieved online through the IRS’s website or by mail with the use of Form SS-4.