International
Legal Services
Wyoming – Limited Liability Companies
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General information
about the State |
Nickname: Cowboy State Population: 480,200 (50th place) Area: 97,820 sq miles (10th place) Admitted to Union: the 10th of July, 1890 Capital City: Cheyenne (population 52,000) Other cities: Casper (49,000), Laramie (28,000) |
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Possible names with
example of Alpha |
Alpha Limited Liability
Company Alpha Limited Company Alpha L.L.C. Alpha LLC Alpha L.C. Alpha LC Alpha Ltd. Co. Alpha Ltd. Liability Co. Alpha Ltd. Liability Company Alpha Limited Liability Co. |
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The minimum number of
members |
One member permitted if the
LLC elects “flexible limited liability company” status in its articles.
Otherwise, two members are required. |
Company
management
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LLC is managed by its
members unless the articles state that LLC is to be managed by one or more
managers. If not otherwise provided
in the operating agreement, members vote in proportion to their capital
account balances with the LLC. Unless expressly dispensed
with or overridden in the operating agreement, managers elected annually by
members in manner specified in the operating agreement. Operating agreement must be
in writing. When LLC has nominee
members an attorney is appointed to manage LLC on the basis of power of
attorney. As a rule, general power of attorney and a restricted one only for
the purpose to open bank account are issued by nominee members in favor of
company’ beneficial owner or authorized persons. |
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Amendments to Articles
and Operating Agreement |
There is no statutory rule
for amending the articles or operating agreement. |
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Withdrawal of Members |
Unless otherwise prohibited
or restricted in the operating agreement, a member may withdraw and demand a
return of her capital contribution upon six months’ prior written notice to
the other members. Except as provided in the
certificate of formation or operating agreement, the LLC automatically
dissolves after the dissociation of a member, unless all remaining members
vote to continue the LLC by unanimous consent. |
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Annual Report |
Each company should present
annual report to the Secretary of the State due on the date of registration
of the LLC. |
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Taxation |
There is no income tax in
Wyoming. Sales tax – 4%
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