What is a Wyoming INC
INC is short for Incorporation
A For Profit, C corporation is considered to be the "regular" incorporation. An incorporation protects shareholders from liability. An incorporation can own assets, sue or be sued, easily transfer ownership, borrow money, or even file for bankruptcy. Double taxation occurs when the corporation pays federal taxes on profit and owners pay taxes when dividends are dispersed.
Shareholder's liability is limited through state law.
Can borrow money, issue bonds, sell stock, and other investments
Wyoming Business Corporation Act (W.S. 17-16-101)
A limited liability company can be formed by filing an articles of incorporation with the secretary of state.
Entity pays taxes on profits and owners/shareholders pay taxes on dividends as personal income.
A company can either be perpetual or dissolve over a set period of time.
Limited Liability | Shareholders, officers, and directors are not responsible for debts of the corporation.
Capital Generation | Can perform financing activities as separate entity.
Ownership Transfer | Ownership can easily transferred by transferring stock.
Management | Control of the business can be controlled by the selection of a a board of directors through a majority share ownership.
Expensive | corporate articles and amendments can be difficult and time consuming to file with the Secretary of State.
Double Taxation | Corporate profits are taxed and dividends are taxed as personal income.
Regulation | Sales of bonds, notes, and stocks require a securities registration with the Secretary of State under certain circumstances.
Required Meetings | State statutes require meetings and shareholder reports.
Inflexible Management | Board of directors action is required .