Wyoming is a US state known for low-cost, privacy-oriented company formation, administered by the Wyoming Secretary of State. It is a favoured base for web3 and asset-protection structures because of no state income tax, strong privacy, and a pioneering DAO LLC framework.
Most founders use the limited liability company ("LLC") under the Wyoming Limited Liability Company Act, valued for its flexibility and privacy. Alternatives include the corporation and the DAO LLC (a special LLC for decentralized autonomous organizations) under the Wyoming DAO Supplement.
There is no minimum capital and no residency requirement for members or managers, but every entity must appoint a registered agent with a physical Wyoming address. An LLC is formed by filing Articles of Organization with the Secretary of State for $100 (online via WyoBiz), usually processed within one to two business days. Members are not publicly disclosed.
Wyoming levies no state corporate or personal income tax and no franchise tax; federal corporate income tax of 21% applies to C-corporations (LLCs are pass-through by default), with the Internal Revenue Service ("IRS") as the federal authority. An annual report (license tax) of $60 minimum (or $0.0002 per dollar of Wyoming assets) keeps the entity active. Following the March 2025 FinCEN interim rule, US-formed entities are currently exempt from federal beneficial-ownership reporting, and Wyoming maintains no state register.