  The Wyoming Advantage
We believe that Wyoming is the best state in America in which to do
business and we think we can make you a believer also. In a
moment, we will examine the many benefits that Wyoming has but let’s
first take a look at what it doesn’t have:
Wyoming doesn’t have:
- Personal income tax
- Corporate income tax
- Inventory tax
- Gross receipts tax
- Franchise tax
- Burdensome regulations
- Disclosure of shareholders
- Business or "per-capita" tax
- Excise tax
- Sales, property and inheritance taxes are among the lowest in
America
…AND CONSIDER THESE ADVANTAGES
- Unlimited ability to issue stock—Most states set a limit on
the number of shares that you are authorized to issue. Not so in
Wyoming! You may issue as many shares as you wish (without any
additional costs or fees) by simply making the proper entries in your
Articles of Incorporation. (We will take care of all
that for you.) Unlimited shares may be of paramount importance to you
in particular, if you ever contemplate taking your company public.
- You can be everything in Wyoming
—Some states require that
you have more than one person to serve as the various officers and
directors of your corporation. Again, not so in Wyoming! One person
can fill all of the required corporate positions, giving you the
ultimate in flexibility and control.
- Enjoy anonymity and privacy in Wyoming
—The more information
about you that appears in the public record, the easier it is for you
to become a target. Wyoming has no requirement for the names of
shareholders to be filed with the state. It asks only for a simple
"Annual Report" which requires disclosure of only those
assets located within the state of Wyoming and the name of one
person, usually the one who submits the report.
- Restrictions and corporate formalities are at an absolute minimum
in Wyoming
—If you would like less "red tape,"
bureaucracy and restrictions in your business life, Wyoming is the
place for you!
—The annual fees in Wyoming are based solely
on the value of corporate assets located within the state. The
minimum is $50 and a million dollars worth of assets within the
state of Wyoming would cost you only $200. That’s right, $200 in
fees for every million dollars worth of assets that you keep within
the state of Wyoming and no fees for assets outside of the state.
- As an officer or director, you cannot be held responsible for the
debts of the corporation
—Wyoming law is quite strong in this
respect and holds generally that as long as you did not intentionally
break the law, you are protected from claims against the corporation.
- No minimum capitalization is required in Wyoming
—You can
fund your corporation with one dollar, with a million dollars, or the
amount of your choice. And, while there are sound business reasons of
avoiding "under capitalization," the point is that the choice
is yours and you enjoy the ultimate in flexibility.
- Your directors" and/or shareholders" meetings may be held anywhere
in the world
—You are not required to hold meetings in Wyoming;
indeed, you need never set foot within the state. Wyoming is rich in
history and breathtaking scenery, but if your tastes run more to the
Bahamas, Hawaii or, for that matter, the French Riviera, the choice is
yours.
- Stock in your Wyoming corporation may be issued in exchange for
"anything of value"
—You may use cash, of course, but
also property, services or any valuable consideration at the total
discretion of the board of directors which, you’ll remember, can be
one person (you?).
- Maximum anonymity can be yours—
Make no mistake; we’re not
suggesting that you need to be "secretive" and certainly not
that you do anything improper. Nevertheless, in today’s overly
litigious society, it is a fact of business and personal life that the
only thing necessary to involve you in a lawsuit is the perception by
someone else that you have assets…you’ve heard it called the
"deep pocket theory." Many business people have found it
advantageous to maintain financial privacy simply to avoid looking
like a good litigation "target." In Wyoming you may use
"nominee officers/directors," meaning that anyone you
designate can appear on the public record in your stead, offering you
valuable financial privacy. Furthermore, you may also be interested in
using nominee or "third-party" shareholders who can be the
owners of record of the stock which you control. Ask us how to explain
the endless possibilities for privacy using the foregoing two
strategies.
John D. Rockefeller was the first individual
to acquire a personal net worth of one billion dollars. When asked
late in life how he accomplished such a feat, he is reported to have
shared with a young interviewer that his simple secret was to
"own nothing and control everything." That is indeed
wonderful advice for a host of reasons (consider, no one can take from
you that which you do not own), but it is sometimes more easily said
than done. By allowing another person or entity to own shares, you can
use proxies to maintain complete control. The problem is that most
state laws require proxies to expire and be subsequently renewed every
six or seven years. If the "legal owner" declined to renew
your proxy, you could be literally left with nothing and no
recourse. That is hardly a scenario that makes us feel secure, nor is
it one that we would recommend to you. However, realize that Wyoming
allows for lifetime proxies, thereby protecting you from any such
problem arising.
- If you
already have a corporation
—Once again, Wyoming offers unparalleled
flexibility. By filing a few simple forms (we will handle it for you
start to finish), your existing corporation can become a bona fide
Wyoming corporation. Wait it gets even better! Your existing
corporation can retain its original incorporation date after becoming
a Wyoming corporation. Anyone examining the Wyoming public record will
see a corporation dating back as far as your current corporation does.
You can promptly become a Wyoming corporation without losing the many
benefits of your firm's longevity and continuity of operation.
top
|
|
|
|
|
|
|
Member of Better
Business Bureau |
|
|
|
 |