A Wyoming certificate of good standing (WY) is a legal document that verifies that your limited liability company (LLC) or corporation was correctly formed and is in good standing with the state.
This Certificate of Good Standing Wyoming guide will explain how to get a certificate of good standing in Wyoming and the requirements to get a good standing certificate.
What is a Certificate of Good Standing?
The certificate- of good standing, aka “certificate of existence,” confirms that a company is up-to-date with its filings and has no legal issues preventing it from conducting business.
This state document verifies that you have legally formed your LLC or corporation and that your company is properly maintained.
Requirements for Getting a Wyoming Certificate of Good Standing
In Wyoming, the certificate of good standing is known as a certificate of compliance issued by the Wyoming Secretary of State. To qualify for a Wyoming certificate of compliance, make sure your corporation or LLC is up-to-date with the following state compliance requirements.
Obtain Business Licenses & Permits
Follow federal, state, and local licensing guidelines to operate your business in Wyoming in a state-compliant manner. Some examples include health permits, building permits, medical and other professional licenses, etc.
To find more about state licensing requirements, visit the Wyoming Business Council website.
Pay State Taxes
Different businesses are subjected to different taxes such as Wyoming Unemployment Insurance (UI) tax, sales tax, etc. Wyoming does not have a state withholding tax. Depending on your business activity, you must register for various forms of Wyoming state tax.
Timely Submit Annual Reports
All Wyoming corporations and LLCs must file an annual report that summarizes their business’s finances over the past year.
The Wyoming Department of State requires your business to submit an annual report every year. The Wyoming LLC annual report filing fee is $50 or 0.0002% of the value of all business assets. and is due the first day of the month in which the business was formed.
How Do I Get a Certificate of Good Standing in Wyoming?
Once your business is up-to-date with all filings and compliance requirements, you can order your certificate of Good Standing from the state authority.
The Wyoming certificate of good standing is requested from the Wyoming Secretary of State online.
The filing Cost for the Wyoming Certificate of good standing is $0 (no fee).
Why Do I Need a Certificate of Good Standing in Wyoming?
While you don’t necessarily need a certificate of compliance to run your LLC or corporation in Wyoming, there are several instances where you may need to get one. These include:
- Opening a business bank account
- Applying for a business loan or line of credit from a bank
- Purchasing business insurance
- Trying to lease commercial space
- Soliciting funds from potential investors
- You want to register your LLC or other business in another state as a foreign or out-of-state LLC
- You want to Transfer or domesticate your business to another state
- You’re selling your business, and the buyer wants proof that the company is in good legal standing
- You are contracting with another company
- You need to show compliance with government regulations in any other situation
FAQs on Wyoming Certificate of Good Standing
From where can I get a Wyoming certificate of compliance?
A certificate of good standing is also called the certificate of good status or certificate of compliance. You can get the Wyoming certificate of good standing from the Wyoming Secretary of State.
How long is the certificate of good standing valid for?
A certificate of good standing can be used for a limited period and typically has an expiration date. Mostly, it is valid for a year after the issuance. This could be at the end of a calendar year or at some other time during the year when the state’s laws require renewal or periodic filings.
When do you need a Wyoming certificate of good standing?
You need a certificate of good standing for several reasons such as:
– Opening a business bank account
– Applying for a business loan or line of credit from a bank
– To lease commercial space
– Registering or moving business out of state, etc
How do I get a certificate of authority in Wyoming?
To obtain your Wyoming Certificate of Authority, you need to apply to the Wyoming secretary of state’s office. Submit an application for a certificate of authority along with required certificates or certified copies from your home state.
A Certificate of Authority states that you are authorized to conduct business in a state other than your domicile state. You will need to appoint a registered agent in Wyoming in order for your filing to be approved.
What is a certificate of existence in Wyoming?
The Certificate of Existence is another name for a certificate of good standing. This official document shows that your Wyoming LLC or Wyoming corporation is legally formed in Wyoming and up to date with all filing requirements.
Is the Wyoming certificate of good standing and the Wyoming supreme court attorney good standing certificate the same?
No, the supreme court of Wyoming certificate of good standing aka Wyoming Attorney Good Standing Certificate and the Wyoming LLC certificate of good standing are not the same.
In order to practice law in the state of Wyoming, one must first obtain an Attorney Good Standing Certificate from their respective supreme court. This document not only proves that you are qualified but also lists any discipline history or change of status within The Supreme Courts’ databases.
While LLC certificate of good standing states that your LLC has no outstanding debts and has paid its annual fees and taxes.
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