Opening a business in Wyoming means enjoying numerous advantages such as no officer filing fees and no business license fees. The state also does not have taxes such as franchise tax, excise tax, gross receipts tax, and inventory tax. Its regulations are business-friendly, and there is no minimum capitalization amount. However, before you can dive in with running a business, you must go through the paperwork to get it started, and that includes getting a Wyoming federal tax ID number. This is also called a Wyoming EIN, or employer identification number. If you already have a business and are changing its structure or you have purchased or inherited one, it may need a new number.
Before you can get a federal tax ID number for your Wyoming business, you must know what kind of business you want to head. For example, many sole proprietors do not need or want a federal tax ID number unless they hire employees or prefer to have a lot of separation between their business and their personal assets. Other possible business types include LLC, S-Corp, and C-Corp. Take a Gov Assist, LLC survey to help you decide on a business type if you cannot nail it down. It is just a few questions, and the answer will point you in the right direction.
To get the federal tax ID number once you know your business type, you fill out a clear and easy-to-navigate form. If you have questions about anything, Gov Assist, LLC, has a support team on standby every hour of the day, every day of the week. Then once your federal tax ID number is determined, Gov Assist, LLC emails it to you. This is an easy way to get a federal tax ID number in Wyoming. If you are also setting up businesses in other states, you can get, say, an Alaska tax ID or a New Hampshire tax ID too.
The Cowboy state is a great place to start and grow a business, and to get started you’ll need to apply for a federal tax ID in Wyoming. Federal Tax ID numbers are assigned to businesses and other legal entities like estates, trusts, and nonprofits, to file and track tax obligations. Federal Tax ID numbers, also called Employer Identification Numbers (EIN) are primarily used by the Internal Revenue Service (IRS), however, they’re also important for certain kinds of local businesses, and perform specific functions for obtaining other legal documents in the state of Wyoming.
There are several ways you can apply for a federal tax ID number in Wyoming. The easiest way is to apply online. Our online application process is easy and only takes a few minutes. We’ll process your EIN number in Wyoming within 24 hours; you can check the status of your federal tax ID at any time online.
All businesses must register with the Secretary of State unless you plan to run your business as a sole proprietorship or general partnership federal tax ID. The Secretary of State also handles articles of incorporation for corporation formation, and articles of organization for LLCs.
It is extremely important that you do not overlook local requirements. As a rule, you should contact municipal and county authorities to learn more about what licenses and permits might be required.
If your business or trade requires licensing, you’ll need to contact the Wyoming Licensing Board. Remember, to apply for local licenses or permits, you’ll need to obtain an EIN number in Wyoming first.
Apply for an EIN number in Wyoming today, and you can start using your federal tax ID tomorrow. Don’t wait to get this important federal tax ID.