Wyoming is a US state known for low-cost 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, low running costs 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. Alternatives include the corporation and the DAO LLC (a special LLC for decentralised autonomous organisations) 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. The articles do not require a list of members. Organiser, registered-agent and address information appears in formation records, and other filings, providers or legal processes can require ownership information.
Wyoming levies no state corporate or personal income tax and no franchise tax; federal corporate income tax of 21% applies to C-corporations, with the Internal Revenue Service ("IRS") as the federal authority. For federal income-tax purposes, a domestic LLC with one owner is disregarded by default and one with two or more owners is a partnership by default, unless it elects corporate classification. Employment and certain excise taxes have separate rules. Federal reporting, other-state taxes and the owner's home-country treatment require their own assessment. An annual report (license tax) of $60 minimum (or $0.0002 per dollar of Wyoming assets) keeps the entity active. Entities created under US state law are exempt from Corporate Transparency Act beneficial-ownership reporting under FinCEN's final rule effective 14 August 2026. That exemption does not remove tax information reporting, bank due diligence, registered-agent requirements or other legally required ownership disclosures. Wyoming maintains no state register.