Dissolving an LLC in Wyoming starts with filing Articles of Dissolution with the Wyoming Secretary of State. You’ll need to pay a $60 fee for this step.
This process officially ends your company and stops future tax or reporting requirements. Make sure your business is active and in good standing before you file anything.
Usually, members need to approve the decision first, often with a formal vote according to the LLC’s operating agreement. The company also has to notify creditors in writing so you can settle any debts.
For more details, check the Wyoming Articles of Dissolution form. It’s worth reading through if you want to avoid headaches later.
Legal Steps to Dissolve an LLC in Wyoming
You’ll need to follow specific steps to dissolve an LLC in Wyoming. Members approve the decision, finish paperwork, and settle debts.
Member Approval and Resolution
The LLC members must agree to close the business, usually with a formal vote or written consent. Your operating agreement should spell out how this works, but sometimes state law fills in the gaps.
Members then draft a resolution to dissolve the LLC. This document records the decision and authorizes someone to handle the filings.
Stick to the voting rules in your agreement or state law. Keep records of the vote for your files—trust me, it might matter someday.
Filing the Articles of Dissolution
Once you have member approval, file the Articles of Dissolution with the Wyoming Secretary of State. This officially ends your LLC’s legal existence in Wyoming.
The form asks for your LLC’s name, the date you approved dissolution, and the reason for closing. You can file by mail or in person.
There’s a $60 filing fee. Double-check your form for any mistakes or missing info, because the state won’t process incomplete paperwork.
You can download the form and instructions from the Wyoming Secretary of State’s website.
Paying Outstanding Debts and Obligations
Before you finish dissolving the LLC, pay all debts and obligations. That means vendors, employees, taxes, and anyone else your business owes.
Make a list of liabilities and notify creditors about the closure. Settling debts now helps you avoid legal trouble later.
If there’s anything left after paying debts, distribute it to members based on ownership shares or your operating agreement. That could be cash, equipment, or property.
Taking care of debts protects members from personal liability after the LLC closes.
Notifying the Wyoming Secretary of State
Besides filing Articles of Dissolution, you may need to send final tax filings to state and federal agencies. Let the Secretary of State know your LLC is closed.
After the Secretary of State accepts your paperwork and payment, your LLC is officially closed. Keep a copy of the confirmation for your records—it could come in handy.
If you don’t notify the state properly, you might rack up fees or face administrative dissolution. That can hurt your credit or business reputation.
The full process and forms are on the Secretary of State’s site: Wyoming LLC Articles of Dissolution.
Post-Dissolution Responsibilities and Considerations
Once you dissolve your Wyoming LLC, some tasks still remain. You’ll need to handle tax filings, manage leftover assets, and keep important records.
Tax Closure and Final Filings
File final tax returns with the IRS and Wyoming tax authorities. Mark the IRS return as “Final Return.”
Pay any outstanding taxes before closing, or you could face penalties. If you collected sales tax or had employees, finish those reports and filings too.
If your Annual Report is due before dissolution, file it with the Wyoming Secretary of State. Skipping this step might delay closure or lead to extra fees.
Handling Remaining Assets and Property
Settle all debts before dissolving—loans, bills, and other obligations. After debts are paid, distribute any remaining assets according to your operating agreement or state law.
This could include cash, property, or equipment. Document every asset transfer so you can show the company no longer owns them.
If you can’t distribute assets right away, manage them carefully until you do. Letting them sit can cause legal headaches.
Record Retention Requirements
Wyoming law doesn’t say exactly how long to keep LLC records after dissolution. Still, it’s smart to hold onto important documents for at least 3 to 7 years.
Keep tax returns, financial statements, meeting minutes, contracts, and all dissolution paperwork. These records help if you face an audit or legal dispute down the road.
Store both digital and paper copies in a safe spot. Decide who keeps the records after the LLC ends—it’s better to sort this out now than argue about it later.
Using an LLC formation service
Dissolving an LLC in Wyoming takes a few steps. You’ll need to file paperwork and pay some fees along the way.
If you’re not familiar with all the legal forms or state requirements, the process can get confusing fast. Honestly, most business owners would rather not deal with it themselves.
That’s where an LLC formation service comes in. These companies handle the paperwork, double-check everything, and make sure it gets filed the right way.
It saves a lot of time. Plus, you don’t have to worry as much about making mistakes.
Bizee is one solid option out there. They make closing an LLC pretty straightforward by managing the whole dissolution process.
You just give them the info they need, and they submit all the forms to the Wyoming Secretary of State. That’s it—no running around or second-guessing.
Some perks of using a service like Bizee include:
- Clear instructions
- Fast filing
- Handling state fees
- Reducing stress
Letting someone else handle the legal steps frees you up for other things. And honestly, who wants to get lost in paperwork if they don’t have to?
