Wyoming Business License: All You Need to Know

Exploring the idea of starting a new venture in Wyoming? If yes, then you must be fully aware of the process involved with obtaining a business license in Wyoming. The entire process begins with securing an incorporation certificate from the Wyoming Secretary of State and then applying for a business license. As Wyoming has 23 counties, each with its own authorities and regulations, it is important to contact the relevant county department where the business is incorporated.

A Wyoming business license is a legal permit that authorizes you to carry out  ‘core business activities’. To obtain the document, you need to file an application in the prescribed format, submit the required documents and fees, which vary depending on the nature of the business activity to be conducted in Wyoming.

Wyoming Business License & Permit Requirements

For setting up a business in Wyoming, it is important to understand the requirements for obtaining a business license and the necessary permits. In this section, we take a look at these requirements as per the business activity to be conducted.  Refer to the table below for more information:

Are Business Licenses in Wyoming and Regulatory Permits the Same?

No, business licenses and permits are not the same. In Wyoming, the business license is required to pursue core activities of the business, whereas regulatory permits are additional permits, which may or may not be required.

To cite an example, we can take reference from a restaurant business. Apart from securing a business license, restaurants are required to obtain a fire NOC, as they are vulnerable to fire-related incidents. The fire NOC is referred to as a regulatory permit.

How to Get a Business License in Wyoming: 7-Step Guide

The type of business license that needs to be availed from the authorities varies depending on the chosen business activity. Here is the breakdown of the steps you must follow to secure a Wyoming business license:

Step 1. Choose a Business Structure

The first step involves selecting a business structure as per your business goals. In Wyoming, Limited Liability Company (LLC) and Corporations are among the top business structures for setting up a wide range of businesses.

While limited liability companies provide benefits like liability protection and tax flexibility, corporations are ideal for businesses that are looking to expand their business operations. If you are a foreigner and want to skip the corporate taxes, you can opt for a Wyoming LLC. Similarly, if you are eyeing future expansion alongside streamlined taxes, a Corporation can be the right choice.

Step 2. Incorporate your Business

After choosing the company structure, you must file the application for company incorporation with the Wyoming Secretary of State. It serves as the apex authority when it comes to company registration and overseeing how businesses comply with the local laws and regulations.

Step 3. Obtain EIN (Employer Identification Number)

Once the business is incorporated, you have to obtain the EIN (Employer Identification Number) from the Internal Revenue Service (IRS). It is mandatory for businesses that have manpower and tax obligations, as it is crucial for payroll processing, paying taxes, and opening a business bank account.

Step 4. Obtain a Wyoming Sales Tax License

The next step involves securing the Wyoming sales tax license if your business deals with taxable goods and services. You need to contact the Wyoming Department of Revenue to secure this document.

Step 5. Apply for a Business License

Depending on the chosen county and business activity, you must apply for a relevant business license from the applicable authority. The legal requirements and fees vary based on factors like business structure, activity, and others.

Step 6. Obtain Regulatory Permits

In addition to the business license, you are also required to obtain relevant regulatory permits from the authorities. Some businesses may need to secure basic regulatory permits, which include:

• Zoning Approval by the local Planning & Zoning Department
• A Certificate of Occupancy (CO) from the Building/Fire Departments
• Fire NOC
• Signage permits

Step 7. Acquire Federal Permits

If the business deals with products like alcoholic beverages, tobacco, and firearms, you may be required to obtain federal permits as well.

Documentation for Obtaining a Wyoming Business License

The documents required for availing a business license in Wyoming vary depending on the chosen business activity. In general, the following documents are sought by the authorities:

• Business entity registration (LLC, Corporation, etc.)
• Federal Employer Identification Number (EIN)
• Trade name (DBA) registration (if applicable)
• Sales tax license (if applicable)
• Valid photo ID (owner/applicant)
• Business address details
• Business activity description or plan
• Proof of required professional or industry-specific licenses
• Completed business license application
• Payment receipt of license fees

Securing a Wyoming business license is mandatory to pursue permitted business activities. This article serves as a complete checklist when applying for a business license in Wyoming.

If you are applying as a foreign applicant, reach out to Business Setup Worldwide for assistance. Our business setup consultants can help incorporate your dream venture in any jurisdiction without any hassle. Contact us today to book a free consultation!