Wyoming LLC Operating Agreement
The Wyoming LLC Operating Agreement is the core document that is referred to when issues
concerning a Wyoming limited liability
company (“LLC”) need to be resolved.
The LLC
Operating Agreement is the most important document for your Wyoming LLC.
In the case of a single member LLC, without the formality
of an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with
respect to the affairs and management of the LLC and governs
the relationship amongst the members of the LLC. By having
an LLC Operating Agreement, the members will be provided
with a clear set of rules that all members have agreed upon
greatly reducing the likelihood of disagreement between
them in the future. A LLC Operating Agreement will also
greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of Wyoming.
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will have one or more members, will be managed by its members
or by elected managers, or will be granting one or more
members an interest in the LLC for the performance of services,
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Wyoming LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of Wyoming will enforce
valid operating agreements entered into among LLC members.
The operating agreement will only be enforced against the
persons who are parties to the agreement. Therefore, it
is extremely important that all members of an LLC sign the
operating agreement.
Your Wyoming
Limited Liability Company
In 1977, Wyoming became the first state to enact an LLC statute.
Today, all fifty states and the District of Columbia have
enacted statutes that provide for the creation and governance
of LLCs.
LLC Filing Office
Secretary
of State
Corporations Division
The Capitol Building; Room 110
200 West 24th Street
Cheyenne, WY 82002-0020
Tel: 307-777-7311
http://soswy.state.wy.us/Business/Business.aspx
Check Name Availability
Entity or Franchise
Level Tax
Wyoming does not require partnerships, LLCs taxable
as partnerships, or disregarded single-member LLCs to pay
a general net worth tax based on net income.
However, Wyoming requires LLC to file with the secretary
or state an annual franchise tax or a license tax.
The tax is based on the corporate property and assets
located and employed in the state in an amount of $50 or
two-tenths of one mill on the dollar ($.0002), whichever
is greater.
State LLC Act
The
Wyoming LLC Act is contained in Title 17 of the Wyoming
Statutes.
Important Statutory Rules
LLC Management
An
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
Unless otherwise provided in the Operating Agreement, the
admission of a transferee as a member must be approved by
the unanimous consent of all the non-transferring members.
Amending the Operating Agreement
No
statutory requirement exists for amending the Operating
Agreement. The Operating Agreement shall govern how it
should be amended.
Dissolution
Unless
otherwise specified in the Operating Agreement, approval
of all members is required to voluntarily dissolve the LLC.
GET A CUSTOMIZED WYOMING LLC
OPERATING AGREEMENT IN MINUTES
