How to Set up an Anonymous LLC in Wyoming

The limited liability company (LLC) has more than fairly earned its reputation as one of the best and most popular business entity types in the U.S. thanks to its flexible management structure, efficient pass-through taxation and personal liability protection. An anonymous LLC makes it even better and stronger by allowing you to keep your personal information off the public record.

Suppose you're a small business owner or entrepreneur who values privacy and liability protection. In that case, starting an anonymous LLC in Wyoming will guarantee you both. Wyoming is renowned for its pro-business environment and low LLC incorporation fees, making it an attractive state to start a business. Benzinga walks you through the steps of creating an anonymous LLC in Wyoming so that you can build your business with the added benefit of privacy protection.

What is an Anonymous Wyoming LLC?

An anonymous Wyoming LLC is a limited liability company in which members' identity or ownership information is not available on public record. The name, address, phone number and other personally identifiable information of the members, managers and corporate shareholders are shielded or hidden from the public, unlike a traditional LLC where such information is open to the public and readily accessible via the Secretary of State's website. 

Remember that an anonymous LLC is not by itself a distinct business entity type but a regular LLC where members or owners can maintain personal liability protection. Anonymous LLCs are subject to the same taxes and compliance requirements as regular LLCs and are typically registered under the name of a third-party registered agent or nominee to achieve privacy protection. This feature makes it ideal for entrepreneurs who prioritize privacy and wish to keep their identities separate from their businesses. 

By protecting members' personal information, an anonymous LLC provides them an extra layer of asset protection. However, only a few states in the U.S. permit anonymous LLCs. Besides Wyoming, these include Delaware, Nevada and New Mexico. Wyoming's low setup fees and pro-business environment make it a favorite choice for most businesses wishing to form an anonymous LLC. 

Who Needs an Anonymous LLC in Wyoming?

Business owners may need to form an anonymous LLC in Wyoming for different reasons. For instance, if you own real estate properties, you may like to keep your actual residential address and other information confidential to prevent harassment or stalking by tenants. Celebrities and public figures who wish to keep their new ventures under wraps can also do so via an anonymous LLC. That way, their identity remains preserved even when the business receives negative publicity. 

If you're an employee who wants to start a side business, incorporating it as an anonymous LLC is an excellent way to keep it hidden from your employer. Starting an anonymous LLC is also a great approach to keeping your information out of Google and other search engines, thereby eliminating access and potential misuse of your data for malicious purposes by underworld cyber actors. 

Strictly speaking, if you're a business owner looking to incorporate in Wyoming, you're better off setting up an anonymous LLC since it means you'll enjoy similar tax and management flexibility and limited liability features as a regular LLC in addition to enhanced identity protection. Keep in mind that the state, IRS, your bank, clients and partners may be privy to your identity. In some cases, when the business faces a lawsuit, your identity and that of other members may be revealed to various parties.

8 Steps to Setting up a Wyoming Anonymous LLC

Wyoming is one of the anonymous LLC states. So the steps involved in starting a Wyoming LLC are highly simplified, unlike a Florida LLC. Here's a review of the core steps. 

1. Understand the Basics of an Anonymous LLC in Wyoming

To streamline the process of setting up an anonymous LLC in Wyoming, you need to understand how an anonymous LLC works in Wyoming, especially regarding the legal and legislative framework guiding its operations. As one of the anonymous LLCs states, Wyoming permits using designated agents or nominee managers to represent the company. 

The implication is that your identity and that of other members, managers and shareholders are not disclosed on public documents. Instead, where necessary, the name, physical address and other details of the designated agent or nominee are used, thereby keeping the LLC anonymous. However, you must understand that, like most anonymous LLCs, a Wyoming anonymous LLC doesn't necessarily guarantee 100% anonymity, and ownership can be traced back to you in certain exceptional legal circumstances.

2. Choose a Registered Agent in Wyoming

Choosing a registered agent is part of the compliance requirement for Wyoming anonymous LLC. The registered agent receives legal notices, summons, subpoenas and government correspondence on behalf of your LLC. They're your business's public face representing it in public documents and legal matters, protecting your identity and that of other members. When choosing a registered agent, you must look out for someone reliable enough to fulfill the required duties in a timely and professional manner and trustworthy enough to maintain confidentiality. 

Also, consider a registered agent with a good knowledge of your business, as that will ensure adequate representation of your interests. Your registered agent can be an individual resident of Wyoming or a company located in the state. Either way, the name, physical address and contact information must be provided in the Articles of Organization during filing.

3. Select a Company Name While Maintaining Anonymity

Once you've chosen a registered agent, you're ready to file your LLC, but first, you need a unique name if you haven't got one already. Keep in mind that your business name is the first point of interaction your potential customers or clients have with your Wyoming anonymous LLC. Therefore you must blend creativity with legality. A creative company name is easy to remember, spell or pronounce and reflects the business's overall purpose while protecting the owner's identity. 

Legality implies that the name is unique and distinguishable and differs from the name of other businesses operating in Wyoming and, if possible, outside the state. An excellent way to check if your proposed business name is already in use by another business is by searching the Wyoming Secretary of State's business name database. Any name chosen for your business must end with either LLC or Limited Liability Company as an indication of the entity type. Be sure to avoid using misleading or confusing names for your LLC to prevent legal issues.

4. File the Articles of Organization

Now that you have your business name and your registered agent's details, it's time to incorporate your business anonymously and formally establish it as a distinct entity. This necessitates filing the Articles of Organization. This document contains information like your business name, purpose, principal address, details of the registered agent, management structure and other relevant information. 

You can register or file online on the Wyoming Secretary of State's website or download, fill out the form and send it via mail to the Wyoming Secretary of State address at Herschler Building East, Suite 101, 122 W 25th Street, Cheyenne, WY 82002-0020. A $100 filing fee and a $2 convenience fee for online filing apply. Provide every requisite detail during filing to avoid rejection.

5. Obtain an EIN

Once your filing is processed and approved, you need to apply for the Employer Identification Number (EIN), which is also known as the Federal Employer Identification Number (FEIN) — a numerical combination similar to a Social Security number but used mainly to identify and distinguish businesses for tax and reporting purposes. EIN also comes in handy when opening a business checking account for your anonymous LLC and when applying for specific business permits or operating licenses.

Suppose you're a U.S. citizen or permanent resident. In that case, you can apply online with your SSN and receive it in under 15 minutes. It is free. However, suppose you're a foreigner or non-U.S. resident. In that case, you must complete Form SS-4 and send it to the Internal Revenue Service (IRS) by fax or mail. Approval can take up to six weeks. 

6. Create an Operating Agreement

Although an Operating Agreement is not mandatory when establishing an anonymous LLC in Wyoming, you should draft one as it provides an excellent roadmap guiding the operation of the LLC. An Operating Agreement defines members' rights and responsibilities, profit or loss allocations, ownership interests or equity, new members' admission, anonymity guidelines and how the company will dissolve if it fails. You can draft it using available templates online or hire an attorney to help you draft one. Remember to keep it updated as the business realities change.

7. Consider Additional Steps

You may need to take additional steps to ensure the smooth running of your LLC while also maintaining anonymity. For instance, depending on your specific type of business, you may need to obtain certain permits or licenses in compliance with state and local regulations. You must also open a separate business checking account for your LLC to reinforce your identity protection. When opening an account, avoid brick-and-mortar banks as they require in-person visits and proof of address, which may jeopardize anonymity. Many excellent digital banking platforms offer similar or even better services than some traditional banks, so go for them. 

An anonymous LLC only protects your identity and personal assets, so you must consider buying LLC insurance coverage to protect your business or company assets. An excellent LLC insurance product can help rebuild your shop when damaged and compensate your customers or clients for damages or lost property. Most LLC owners go for general liability insurance. However, your choice will depend mainly on your business's core needs.

Take Control of Your Personal Privacy and Safeguard Your Assets by Setting Up an Anonymous LLC in Wyoming

An anonymous LLC undisputedly offers more robust benefits considering that it allows you to enjoy complete anonymity in addition to the core benefits of a regular LLC. What better state to incorporate than Wyoming? Besides its business-friendly laws and optimal tax benefits, Wyoming offers highly affordable filing and maintenance fees, making it a cost-efficient option if you lack the requisite capital to incorporate. 

In addition, the setup process is a breeze? You can take the first step towards protecting your identity and assets by leveraging any of the best LLC services or employing a qualified attorney to kickstart the process of incorporating your business. 

Frequently Asked Questions