Seven Reasons Why Wyoming for Your LLC or Corporation in 2016 and Beyond

Earlier in 2016, a document leaked called the “Panama Papers” surfacing in the Wall Street Journal introduced the world to offshore corporations based out of Panama, as referenced as the “last tax shelter in the world”, and their alleged illegal practices of shielding and hiding finances from the IRS.

While the topic of tax shelters will no doubt be an ongoing red hot topic, we as organizers and incorporators of Limited Liability Companies and corporations in states such as Nevada, Wyoming, Delaware, Florida, Montana, and Texas are in no way advocating illegal activity, fraud, tax evasion, or money laundering, we are simply educating you the reader as to legal avenues for safer smarter, better business tax strategies that have been and are legally available to you.

See our video with longtime Nevada and Wyoming Limited Liability Company and Corporation advocate and business and compliance attorney R. James Eckley on why you should consider this as a legitimate business practice.

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Seven Reasons Why Wyoming for Your LLC or Corporation in 2016 and Beyond

1. State Taxes:
   There are no state taxes in Wyoming for LLC’s. A simple form filled digital annual report filing is all that is required with an annual fee of $50.
2. Member/ Manager Listing in Public Records:
   Wyoming is still one of the very few states that does not require this as the state maintains no database for this record nor asks any of this information.
3. "Lifetime Proxies":
   Wyoming is the only state that allows Lifetime Proxies. The Lifetime Proxy allows for a greater level of control by way of having someone else hold your ownership while you vote by proxy.
4. Wyoming Single Member LLC’s:
   Wyoming, along with Delaware and Nevada, is extremely unique in that single member LLC’s still are afforded the very same level of charging order protection as a multiple member LLC.
5. Assets Protection of the Wyoming LLC Against the Personal Creditors of the Members:
   A creditor cannot take any membership in an LLC nor vote in place of a member, only a charging order.
6. Asset Protection of the Montana LLC Against the Personal Creditors of the Members:
   A creditor cannot take any membership in an LLC nor vote in place of a member, and instead only a gain a charging order in court.
7. Creditor Distribution Requirements in the Cases of a Successful Charging Order Against LLC’s:
   In 2010 the State of Wyoming amended the LLC Act to reflect the voluntary and voluntary only provision of creditor distributions.