The Limited Liability Company, or LLC, is a business structure that combines the advantages of many traditional business forms. An LLC enjoys the same type of limited liability as a corporation, but like the sole proprietorship and partnership, it is not taxed as its own entity. LLC's, like corporations, can also have as many shareholders, or members, as desired. The LLC, however, is dissolved if one of those members files for bankruptcy or dies. Limited liability has historically been a primary goal of many business forms, but since the legislature authorized it in Wyoming, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

In Wyoming, a business can be formed using the form that it chooses. Opening an LLC simply requires that the business founders file a form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Wyoming there are specific laws that govern the actions of LLC?s. When deciding whether to form a LLC, you should consider which laws would apply to your company. Although it may take some time to find, choosing the right business structure for your company will lead to increased profitability.

Can I Change the Form of My Business to an LLC?

Businesses in Evanston may change their forms in certain circumstances. Whether a business may convert to a LLC or not is determined by Wyoming law.

How Can an Attorney Help?

Attorneys practicing business law in Wyoming can advise you on whether it would be favorable for your business to form or convert to a LLC.