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Whether a business owner is forming a corporation, nonprofit, or limited liability company (LLC) in Wyoming, one of the first steps in the process will be choosing a registered agent (sometimes referred to as a statutory agent or resident agent) to have on public record with the Wyoming Secretary of State.
To better understand how a registered agent fits in the process of starting a Wyoming business entity, here’s a look at how an LLC is formed in Wyoming
What is a Wyoming registered agent?
A registered agent is a point of contact or company that will accept official documents such as service of process, tax notices, or other business documents or legal documents on behalf of your Wyoming LLC or Wyoming corporation.
Read more: What is a registered agent?
How do I select a Wyoming registered agent?
The registered agent is selected and listed on the LLC formation paperwork, which in Wyoming is called Articles of Organization or Articles of Incorporation.
- If choosing an individual, the agent’s address, phone number, and name will be listed on this document.
- If choosing a registered agent service, it will be the business name and business address listed.
The registered agent must be aware of this role. In other words, an owner can’t just nominate a board member or the CEO to hold this role without speaking to that person first. A Wyoming registered agent must know about the responsibilities, agree to them, and sign a consent to appointment form.
Who can be a registered agent in Wyoming?
There are many different people who can fill this role, including the business owner or another company employee. A registered agent service can also fill this role.
For those wondering what the criteria are for a person or company to serve as a registered agent, Wyoming has some guidelines. A registered agent must:
- Be at least 18 years of age
- Have a registered office address that uses a physical address, not a P.O. box or virtual office
- Be available during regular normal business hours on normal business days
- Sign a consent form and submit it to the Secretary of State
Can I be my own registered agent in Wyoming?
In Wyoming, the business owner can elect to be their company’s registered agent. Entrepreneurs often serve as their own registered agents as long as they meet the agent requirements listed above.
Why would a company choose to work with a registered agent service?
When a new business is just getting off the ground, money can often be a concern. Before you decide that a registered agent service is too expensive, it’s important to at least understand the benefits of such a service. Wyoming Business owners say these are some reasons a registered agent service is advantageous:
- Experience. A registered agent service has a lot of experience in the business world and can offer a sense of security and asset protection. Aside from accepting legal notices and documents on your behalf, they’re also proficient in filing annual reports with the state and handling other compliance matters that might be complicated for a new business owner.
- Privacy. The documents that are delivered to a registered agent are often confidential, and sometimes a service of process can be a spectacle. The sight of someone showing up, handing you papers, and saying, “you’ve been served,” is a little embarrassing. For this reason, business owners say having a registered agent that does not use their actual business address is helpful.
- Availability. Entrepreneurs are busy people, so asking them to stay in one place in case documents arrive can be difficult. Between running errands, attending meetings, or traveling, being available in one location during normal business hours is next to impossible. As a result, a registered agent service can be the solution – it’s their job to always be available.
- Time savings. Registered agents will take the time to fill out your forms. Even if you have the knowledge and experience to fill out confusing or lengthy legal documents, using a professional service can save you time. Most services also offer you an online account to view all of your documents, which can cut down on mail or travel time.
Read more: Best Registered Agent Services
How much does a registered agent service cost in Wyoming?
The annual cost for a registered agent service will vary. Most registered agent services in Wyoming charge between $49 and $100, but there are companies that might charge more. Usually, a higher price comes with additional services such as filing annual reports or other general business formation help.
List of Wyoming registered agent services
There are many registered agent services in the State of Wyoming. The Wyoming Secretary of State may have a list of possibilities if you want to request it. However here are a few options to browse through:
- ZenBusiness is fairly new to the market, but it’s grown a strong following. Business owners love the affordable rates for a registered agent service, which are as low as $99 per year. The company also offers worry-free compliance to help business owners file the necessary reports on time.
- Northwest Registered Agent is one of the most recognized names in the registered agent business. The company has decades of experience and local offices scattered across the U.S. to serve small businesses like yours. The cost for a registered agent service is comparable to others. Business owners can also take advantage of additional services like report filing.
- Harbor Compliance is a great fit for organizations that register in multiple states and for those who don’t want to pay excessive service fees. With their network and electronic document delivery, they help ensure your business never misses a legal notification.
Wyoming registered agent FAQs
Do I really need a registered agent in Wyoming?
Yes. Every Wyoming LLC or Wyoming corporation must maintain an up-to-date point of contact with the state of Wyoming Secretary of State to remain in good standing and failure to comply could result in state fees or revocation of the business entity.
Can a company change its registered agent?
A Wyoming company can easily select a new registered agent by completing an Appointment of New Registered Agent and Office form which must be signed and mailed to the Wyoming Secretary of State, located in Cheyenne, with a $5 filing fee.
You may see the term statutory agent used interchangeably with a registered agent, they mean the same thing but can vary from state to state.
What’s a commercial registered agent?
You may be asked if your registered agent is commercial or non-commercial. If you pay a registered agent service, your company has a commercial registered agent. Any other setup is considered a non-commercial agent.