On this page, you’ll learn about the following:
Wyoming Registered Agent Requirements
There are certain requirements to fill the role of a Wyoming registered agent:
- The nominee must be more than 18 years old.
- The individual must have a legal, physical address in the state where the LLC will operate.
- The individual must be physically present during normal working hours.
How to Choose a Registered Agent?
When you file your Certification of Formation in Wyoming, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource a Wyoming registered agent service.
You can elect your registered agent online through the Wyoming Secretary of State website.
Hiring an Inhouse Registered Agent
When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in Wyoming.
Can I be my own registered agent?
Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.
Outsourcing a Registered Agent
You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
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Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.
What to Consider when Choosing a Registered Agent
Here are some factors to consider when choosing a registered agent.
- Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
- Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
- State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
- Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.
Wisconsin Business Laws for Registered Agents to Note
Registered Agents are responsible to handle the business laws related to your LLC and other legal issues related to your Wyoming LLC. Every state has its own business laws. Wyoming is no exception. It has its own set of standard business laws to regulate businesses in the State. Here are some of the important business laws every business should follow in Wyoming.
- Wyoming Antitrust laws: Antitrust laws regulate and prevent anti-competitive practices in any open market by levying heavy penalties and punishment against such activities. These laws counter the formation of cartels, monopolies, or any barrier created for new entrants in the market. The Wyoming Antitrust laws prohibit any agreement in restraint of trade, price-fixing, acquisitions executed to reduce competition in the market, and any unfair methods of competition.
- Wyoming Deceptive Trade Practices Laws: The State of Wyoming aims to protect its residents from unfair business practices. Such practices mislead the consumers into investing in invaluable market products by selling them with twisted statements and lies such as false advertising. The laws specifically prohibit false advertising and odometer tampering.
Wyoming’s Consumer Protection Act prohibits numerous practices such as making false representations about items, or affiliations, raising false claims for the repair of items, using bait and switch tactics, and engaging in any unfair act. For remedies, the State can obtain restraining orders and injunctions, a civil penalty of up to $10,000 for each willful violation, and the consumer can recover their actual damages incurred and other fees and costs.
- Wyoming Interest Rate Laws: All states in the United States have an Interest law for businesses. Normally, the general interest rate guidelines are less than the legal threshold of interest rate. Wyoming has laws to limit the interest rates and significantly high-interest rates are considered unlawful and open to criminal prosecution. In general, the State’s legal interest rate is 7% per annum. The rate of interest on court judgements is 10% per year. The State does not levy interest rates on late child support payments. Exceptions are granted to government agencies, credit sales, loans for agricultural purposes.
- Wyoming Civil Statute of Limitations Laws: Every lawsuit must be filed within a certain period of time post the occurrence of the incident as per the Statute of Limitations. In general, the time period for filing a lawsuit in Wyoming ranges from one to five years depending upon the type of case.
For cases involving injury, fraud, and trespass, the claim should be raised within 4 years from the date of occurrence of the incident. For breach of a written contract, the claim should be raised within 10 years. For disputes involving debt amount and judgments, the time limit is 5 years.
The Registered Agents are the people who act as points of contact between your business and the State Authorities. They assist your business in ensuring compliance with all regulations and codes of the State. Hiring a registered agent in Wyoming will help you handle your business in a smooth and legally compliant manner.
All corporations and limited liability companies doing business in Wyoming are required by state law to appoint a Wyoming registered agent. Wyoming registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.
If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.