Wyoming Annual Reporting

You did it. Your Wyoming LLC is officially up and running, ready to take on challenges, roll in the profits, and change the world.

There’s no doubt that this is an exciting time in your business journey. After starting your LLC, it’s easy to get carried away in all the excitement and expectations. After all, as a new business owner, you’ve got a lot on your plate.

But the state does too. They need to keep updated records on thousands of businesses so that they can effectively reach out with any important tax or legal communications down the road. How do they do it? With your cooperation, of course.

In Wyoming, an LLC’s Annual Report includes some vital information about the business and helps the state keep its records updated regarding commercial activity within its borders. Unsure how to go about it? Never even heard of it? No worries at all. That’s why we’re here. Keep reading for everything you need to know.

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What Is the Wyoming Annual Report? Why Is It Important?

Consider an Annual Report the state’s yearly checkup on your LLC. It’s similar to a census in that its purpose is to collect the necessary contact and structural information about each Wyoming business.

Each state has its own annual reporting requirements, and some don’t even require them. But in most states, you’re required to submit one per year that includes your LLC name, principal office address, registered agent information, and member/manager names and addresses. Whether you run a domestic or foreign LLC, you should plan on submitting an Annual Report.

Don’t be intimidated, but it’s not something you want to take lightly. This is how the state updates your LLC’s record with the most recent information. They need to know how to reach you with important information about your business status, upcoming filings, taxes, and service of process.

For example, if you change your registered agent, or your current agent resigns, you’ll need to keep the state informed so they can update their contact information. Miss one of their communications and your LLC in Wyoming might end up falling out of good standing or, even worse, being administratively dissolved.

Moreover, keeping your information current will help other businesses and potential customers find you. If the Secretary of State has the most updated data on record, people can find your business by performing a name search.

How Much Does the Wyoming LLC Annual Report Fee Cost?

If you’re putting together a budget for all your LLC’s costs – like formation costs, name reservation fees, and initial operating expenses – it’s important to include annual filings like this one, just so that there are no surprises.

Costs vary from state to state. Some are free while others can be several hundred dollars. For an LLC with less than $250,000 of assets in Wyoming, the fee is $60. However, if your business has $250,000+ in Wyoming assets, you’ll have to do a little math. Your fee will be $0.0002 multiplied by the total amount of your in-state assets.

Note: The Secretary of State also refers to this fee as a “License Tax.”

Due Date and Frequency for an Annual Report in Wyoming

Your company’s Annual Report is due once per year on the first day of its anniversary month. This is the month that you initially formed the LLC. So, if the state originally approved your Articles of Organization on September 19, 2021, your Annual Report would be due by September 1st each year after that. You can also find your LLC’s due date by searching for it on the Secretary of State website.

You can file an Annual Report up to one year in advance, so if you’re an early bird, you can get on the next year’s filing right after your deadline passes.

What Happens if You Don’t File?

You might be thinking, “that sounds like a pain. How bad could it be if I just fly under the radar?” The short answer: don’t try it. Failing to file your Annual Report can yield some serious consequences.

There’s no late fee for missing your Annual Report due date, but failure to file on time could result in even worse penalties. An outstanding report will cause the state to label your LLC “delinquent.” And if you haven’t filed within 60 days of the deadline, the state can administratively dissolve your business, at which point you would need to reinstate it for an additional $300 fee.

Required Information

Alright, let’s dig into the details, the meat of the Annual Report filing. When your anniversary month is approaching, it’s time to start prepping. Here’s the information you’ll need to complete the report:

  • LLC name
  • LLC filing ID (you can use the business search to find this number)
  • Business mailing address
  • Principal office address
  • Business email address

That’s it! If you have all this information memorized, you’re good to go. If you need to change your registered agent or registered office address, you can’t do it on the Annual Report. Instead, you’ll need to file a separate Appointment of New Registered Agent and Office form.

Filing Options

When it comes time to actually file your Annual Report, you have three options: online, by mail, or in-person.

Online Filing: Begin on this Annual Report filing portal, and click “File or Print Your Annual Report Now.” This will direct you to another page, where you’re prompted to enter your Filing ID. Don’t know your Filing ID? You can use the name search page to find it. After entering your ID, confirm that the correct business comes up, then follow the onscreen instructions to enter the required information. Provide your payment information and submit your electronic form and you’re all set. This is the quickest filing option, as the state processes digital forms immediately.

Filing by Mail: Follow all of the instructions for online filing. When you’re done entering your information, you’ll have an option to continue filing online or print the completed form. Choose the latter, then mail your printed form and a check for your fee to:

Wyoming Secretary of State

2020 Carey Avenue

Suite 700

Cheyenne, WY 82002-0020

Filing In Person: If you live near Cheyenne, you can also hand-deliver your form and payment to the same address.

Hard copies are typically processed in 3-5 business days.

Does the State Send Reminders?

Reminders are always nice. They help you stay on top of your business requirements and ensure that you won’t fall out of good standing.

The Secretary of State wants to make sure that you don’t miss your Annual Report due date, so they’ll send three separate email reminders: 60 days, 30 days, and 10 days before your deadline. Even so, we recommend setting your own reminders in your planner, phone, calendar, or anything else you use to stay on top of business requirements.

Conclusion

There you have it, everything you need to know about Wyoming’s reporting requirements. Follow this guide to a T and your LLC will be prepared to operate smoothly and in good standing long into the future.

And remember, if at any point it seems overwhelming, you’re not alone. A good LLC service like ZenBusiness (or LegalZoom) can be a valuable resource, taking care of all the little details, so you can focus on growing your business.


Frequently Asked Questions

About Filing the Wyoming LLC Annual Report

Should I use an Annual Report service, hire an attorney, or prepare and file my own reports?

This question largely comes down to personal preferences, but we do have some general insights. The DIY route can be quite a bit of work, as you’ll need to keep track of your due dates and complete the entire report on your own with no assistance. As for hiring an attorney, this can be prohibitively expensive for many businesses, as a lawyer can charge hundreds or even thousands of dollars to prepare and file your Annual Reports.

You can think of business services companies as a middle ground between these options. While most of these companies charge a fee to prepare and file your Annual Reports, that fee will be significantly less expensive than an attorney’s fee. At the same time, you still aren’t going it alone. Instead, you have an experienced professional guiding you through the entire process.

I’ve heard the most about LegalZoom. Are they the best Annual Report service?

LegalZoom is the most well-known of all business services companies, thanks to its long track record and extensive advertising campaigns. That said, all of that brand power comes at a cost, as LegalZoom’s pricing and features don’t always compare advantageously to its competitors. While we do appreciate LegalZoom’s Annual Report filing service, it isn’t our top choice.

When is my Annual Report due each year?

This all depends on when you originally registered your LLC in Wyoming, as the due date for an Annual Report is the first day of your LLC’s anniversary month. Therefore, if you formed your LLC at any point in April, your Annual Report deadline is April 1 of each subsequent year.

Does Wyoming require LLCs to file initial reports?

In some states, LLCs are also required to file initial reports. These reports are typically quite similar to Annual Reports, with the difference being that an initial report either accompanies your formation documents or follows their filing within a couple of months.

However, Wyoming has no initial report requirement for LLCs. Instead, this state gathers all of the information it needs for your first year in business from your Articles of Organization filing.

What if I need more time to complete my Annual Report?

Wyoming doesn’t offer extensions for late Annual Reports. However, the state does have a built-in grace period that allows LLCs to submit late reports without serious penalties. While your LLC will be immediately labeled delinquent by the state, Wyoming waits an additional 60 days before administratively dissolving your business.

Where can I find more official information about Wyoming’s LLC annual reporting requirements?

The state provides a helpful YouTube video to walk entrepreneurs through the process of filing Annual Reports. In addition, the Annual Reports page on the Wyoming Secretary of State’s website has some valuable info.

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