How to Form a C Corporation in Wyoming
Introduction
If you are looking to start a business in Wyoming, you have come to the right place. It can be overwhelming trying to figure out how to form a corporation and what kind of legal structure is best for your needs. The best way to get started is by contacting us at Swyft Filings today! If you already know what type of business entity you want to form, please keep reading below:
When you start a new business, you will want to consider the legal structure of your company.
When you start a new business, you will want to consider the legal structure of your company. There are four types of business structures in Wyoming: corporations, limited liability companies (LLCs), partnerships and sole proprietorships.
A corporation is an independent legal entity formed under state law. The owners or shareholders own the corporate entity, but they do not manage it or have any personal liability for its debts or obligations. In other words, if your business goes bankrupt and owes money to someone outside of your company (like a supplier), then only the assets of your corporation will be at risk—not your personal assets such as savings accounts or real estate holdings.
What is a C corporation?
A corporation is a legal entity that is separate from its owners. The owners of a corporation are called shareholders and they have the right to govern how the company operates, yet are not personally liable for its debts. A C corporation may be publicly traded on Wall Street, meaning that you can buy shares of the business in order to invest in it (and potentially make money if it does well).
The C Corp has fewer restrictions on ownership.
The C Corp is the most common form of business entity in the United States. A C Corp is a corporation that is taxed as a separate entity from its owners, called shareholders. Shareholders are not required to be residents of Wyoming and can have unlimited liability for the debts and obligations of the corporation.
What are different advantages of a C corporation?
A C corporation offers a few advantages over other entities. For example, it is the most common type of corporation and can issue stock to raise money. The shareholders are not responsible for the financial obligations of the business and are only liable for their own actions.
The main advantage of a C corporation is that it has limited liability for its shareholders. This means that if something goes wrong with your company, you can’t be held personally responsible and have to pay back all your debts if someone sues you or files bankruptcy against them. While this is beneficial in many ways, it also means that shareholders must file separate tax returns from the company (which adds extra paperwork). In addition, some states may require an audit when forming a new LLC or Corporation depending on how much money was raised through fundraising campaigns prior to incorporation date (i
How do I establish a Wyoming C corporation?
You can establish a Wyoming C corporation online or by mail. You’ll need to provide the name of your corporation, its registered agent, and all incorporators who are signing articles of incorporation. All incorporators must be listed on the document.
You’ll also need to file an application for an assumed name certificate (if you’re doing business under a name other than what’s spelled out in your articles). If there’s anything else required by state law (like notarization), check with the secretary of state before proceeding.
How do I choose a name for my business?
When choosing a name for your business, you should consider the following:
- Choose a name that is easy to remember. It’s best to avoid using acronyms or abbreviations when naming your company.
- Make sure that the name does not imply any affiliation with another company. Many businesses have been sued by other companies over their choice of names, including those with similar products or services.*
- Avoid using words that may be confused with government agencies or organizations. For example, if your business involves medical services, you might want to avoid such terms as “hospital” or “physicians.”
Who should I appoint as registered agent for my Wyoming C corporation?
A registered agent is the person who receives official notices for your Wyoming corporation. You should appoint a resident of Wyoming as your registered agent and make sure that he or she is available during normal business hours. This can be done by contacting us at [email protected]
We recommend appointing a single individual as your registered agent, but if you choose to appoint more than one person, we must receive written notice listing all persons authorized to accept service on behalf of the corporation before making any filings with the Secretary of State’s office in Cheyenne.
Who should I appoint as incorporator(s) for my Wyoming C corporation?
The incorporator(s) of your Wyoming C corporation must be 18 years old or older, have not been convicted of a felony or crime involving fraud, dishonesty or moral turpitude, and be a US citizen or resident alien.
If you are forming your own corporation but don’t want to list yourself as an incorporator on the Articles of Incorporation form (Form 20), then a friend can act in your place.
Why is it important to have a registered agent in Wyoming?
Having a registered agent in Wyoming is one of the most important steps you can take when forming a C corporation. A registered agent is someone who has agreed to accept legal documents on behalf of your business, and in some cases, also process service of process. In order for this arrangement to work, however, there are certain requirements that must be met—namely:
- You must have an active Wyoming street address. This may seem obvious—after all, how can you receive official documents if you don’t have an address? But there are actually two reasons why having a physical address in this state is important: firstly, if any legal documents arrive at your mailing address outside Wyoming and they need to be forwarded on immediately (such as summonses), then they will bounce back as undeliverable with no explanation other than “undeliverable as addressed” because there’s no way for anyone outside of Wyoming to know where exactly those letters should go; secondly, if your company needs something from government officials such as tax liens or notices about unpaid taxes or fees owed by companies within their jurisdiction — these too could end up being returned marked “undelivered” since it isn’t clear where exactly those papers should go either!
- The registered agent must have either an active office within its county limits or within 50 miles from where it operates its business activities (if neither condition applies). As long as both conditions above apply then there shouldn’t be any problems whatsoever with selecting this person/company/agency because they’ll always be able to handle whatever comes along without any issues whatsoever!
What is the difference between a registered agent and an incorporator?
Registered agent and incorporator are two different roles. A registered agent is the person or company that acts as a liaison between your company and the state. The registered agent’s job is to receive official mail from the state, such as notices from the Secretary of State or tax bills, as well as mail intended for your business (like invoices for services rendered). Your registered agent also has to keep records about any communications with you or other government agencies.
Registered agents can be individuals, corporations, or law firms; anyone who meets Wyoming’s requirements will do. Be sure to pick someone who will be available when they need to be: if they don’t have time to speak with someone from the state on your behalf because they’re out of town on vacation, it may result in fines or penalties against your corporation.
Who can be appointed as registered agent and incorporator for my Wyoming C corp?
A Registered Agent is the person or entity that will receive legal papers on behalf of your C Corp. For example, if you were sued for not paying back a loan, your registered agent would be notified of such action and then inform you about it.
A physical address in Wyoming is a requirement for any individual serving as the Registered Agent. There are a few exceptions to this rule:
- A corporation can act as its own registered agent (if they are incorporated with the state).
- An LLC must have an agent who has an address in Wyoming unless they appoint themselves as their own registered agent (which would be unusual).
- A partnership may act as its own registered agent if all partners reside in Wyoming and one partner files Form ART-848 to elect this option; however this election cannot change once made and partnerships must continue using this method until they dissolve or cancel their registration.
Additionally, there are several scenarios where someone cannot serve as an incorporator/registered agent due to their relationship with the business owner(s):
- You cannot serve as both an incorporator/registered agent AND also be listed as a shareholder on articles of incorporation – only one or the other! This means if someone owns 100% of shares but also acts as a director/secretary/treasurer/etc., he could still fulfill his duties without running into any conflicts by appointing his spouse or another relative instead; however he could not act solely under his role within both positions at once without creating conflict-of-interest issues between those dual roles which could lead up problems down road when dealing with lawsuits against business decisions made based off personal relationships rather than professional reasons alone.”
To start the process of forming your Wyoming C corporation, contact us at Swyft Filings today!
If you are interested in forming a C corporation, contact us today for more information about how this could help your business.
We are here to help you! We want to make starting and running your business as easy as possible. We will do everything we can to ensure that your C corporation is setup correctly and meets all Wyoming requirements.
We have helped many clients file their documents with the state of Wyoming, so we know what it takes to get the job done right. With our experience and expertise, you can trust that when it comes time for filing or requesting tax forms or other documentation from the state of Wyoming, your paperwork will be processed accurately and quickly by trained professionals who know exactly what they’re doing.”
Conclusion
If you are ready to start your business and need help with forming a C corporation in Wyoming, contact us today! We will walk you through the process step by step and help make sure everything goes smoothly. Our helpful staff will answer all of your questions and guide you through every step of creating your new company. At Swyft Filings, we pride ourselves on our personalized service and attention to detail – so don’t hesitate to reach out if there is anything else we can do for you!
