A Wyoming LLC is the cheapest legitimate way for a global founder to own a US-banked, IP-holding operating company without ever stepping on US soil. It costs less than $500 a year, ships in under two weeks, and — done right — pays zero US federal tax until you intentionally pull income inside the US tax net.
This page is what we wish someone had handed us before our third filing. It is also the jurisdiction we default to inside the RFUD Launch Assistant when a founder asks us how to incorporate for a remote or distributed venture.
Who Wyoming actually fits
- Solo or 2–3 founder remote teams running SaaS, agencies, content, ecommerce, IP licensing.
- Non-US founders who need a US bank account and Stripe to accept dollar payments.
- Operators who hold IP separately from their operating jurisdiction (common with Lisbon, Dubai, Bali, Bangkok-based founders).
- Anyone who values privacy: Wyoming does not publish member names on the public register.
Who it does not fit: founders raising a priced round from a US institutional VC (almost all require Delaware C-corp conversion), or anyone with employees, inventory, or a physical office in another US state.
The actual filing sequence
- Pick a registered agent. Required. Cost: $50–$150/year. Quality varies less than the marketing suggests. The agent receives state mail and service of process.
- File Articles of Organization. Online, $100. Approval typically in 1–3 business days. You choose member-managed vs manager-managed — most solo founders pick member-managed and switch later if needed.
- Draft an Operating Agreement. Not required by the state, required by every bank, every Stripe Atlas-style check, and every future investor. Single-member template is 4 pages. Multi-member is 20.
- Get an EIN from the IRS. Free. US founders with an SSN get it instantly online. Non-US founders submit Form SS-4 by fax (yes, fax — the IRS still runs on this) and wait 4–6 weeks. Some providers will expedite for $200–$400.
- Open banking. Mercury, Relay, and Wise Business accept Wyoming LLCs with the EIN, Articles, Operating Agreement, and founder passport. Apply once the EIN arrives — never before.
- Set up Stripe. Use the LLC EIN, not your personal SSN/ITIN. Stripe will ask for a US bank account, which you now have.
The tax picture — read this twice
A single-member LLC is a disregarded entity by default. That means the LLC files nothing of its own with the IRS; profit flows to the owner. For a US owner, that goes on your personal 1040. For a non-US owner, the result depends entirely on whether your activity creates US-source income or a US trade or business.
The 5472 trap. Since 2017, foreign-owned single-member LLCs must file Form 5472 plus a pro-forma 1120 every year even if they owe zero US tax. The penalty for not filing is $25,000. We have seen this kill more setups than any other single mistake. Budget $400–$800/year for a US CPA who handles foreign-owned LLCs — Bright!Tax, Online Taxman, and James Baker CPA are the ones founders mention most.
State tax. Wyoming has no state corporate, personal, or franchise tax. The $60 annual report is the only recurring state cost. If you accidentally create nexus in another state — by hiring an employee there, holding inventory there, or attending too many in-state trade shows — that state's tax rules apply to the income tied to that activity. Wyoming does not protect you from that.
Where Wyoming founders quietly bleed money
- Buying expensive "anonymous LLC" packages from registrar marketing — Wyoming is already private by default.
- Skipping the Operating Agreement and getting rejected at every bank for 6 weeks.
- Missing the BOI report under the Corporate Transparency Act (currently in flux — check status before filing).
- Co-mingling personal and LLC funds, which voids the liability shield the LLC exists to provide.
- Hiring a US-based contractor in a state with strict 1099-NEC sourcing and ignoring the resulting state filing.
What RFUD does with this
We do not sell incorporation. We use Wyoming as the default holding structure when we help a founder set up the operating layer behind a launch — the bank account, the Stripe account, the contracting entity for operators and clients, and the IP holding entity that survives if the operating company pivots.
If you are mid-launch and need a structure decision in the next 48 hours, open the RFUD Launch Assistant — describe your operating geography, expected revenue model, and where your customers will be, and you will get a tailored jurisdiction recommendation. It is free and there is no signup until you want one.
- Why do founders pick Wyoming over Delaware?
- Wyoming has no state corporate or personal income tax, the lowest annual report fee in the US ($60 minimum), strong charging-order protection, and allows anonymous member ownership. Delaware is built for VC-backed C-corps with stock-class flexibility; Wyoming is built for operators who want a lean, private holding and operating entity.
- Can a non-US resident form a Wyoming LLC?
- Yes. There is no citizenship or residency requirement. A non-US founder needs a registered agent in Wyoming, a US business address (the registered agent usually offers one), and an EIN from the IRS — obtainable by fax or mail with Form SS-4 without an SSN. Banking is the real bottleneck, not formation.
- How much does a Wyoming LLC actually cost per year?
- Filing: $100 one-time. Annual report: $60 minimum (scales with Wyoming-located assets, which is usually $0 for remote founders). Registered agent: $50–$150/year. Optional virtual address + mail scanning: $10–$30/month. Realistic all-in: $250–$600/year, excluding bookkeeping and tax filing.
- Does a Wyoming LLC pay US federal tax if I have no US clients?
- A single-member LLC owned by a non-US person with no US-source income and no US-effectively-connected income is generally not subject to US federal income tax — but must still file Form 5472 + a pro-forma 1120 annually. Penalty for missing 5472 is $25,000. This is the single most common founder mistake.
- Can I open a US bank account remotely?
- Yes, through fintech business banks (Mercury, Relay, Wise Business) that accept non-US founders with a Wyoming LLC + EIN + passport + proof of address. Traditional banks (Chase, BofA) still typically require an in-person visit. Apply only after the EIN arrives — applying earlier gets you rejected.
- When does Wyoming stop making sense?
- When you raise institutional venture capital (VCs almost always require Delaware C-corp), when you sell physical goods from a US warehouse in another state (creates nexus there anyway), or when you have US employees in a non-Wyoming state. For everyone else — SaaS, agencies, content, IP holding, ecommerce dropship — Wyoming wins.