Limited Partnership formation for a Wyoming Limited Partnership
Wyoming Limited Partnership
The Wyoming Limited Partnership is a kind of partnership that has one or more General Partners who manage the day to day operations of the partnership, and one or more Limited Partners who are like “silent partners” investing capital and/or labor.
Wyoming limited partnerships feature:
Taxed As a Partnership
Limited Partnerships are taxed as a pass-through entity, with income or loss reported through the IRS Schedule K-1 for each partner. You will not be taxed twice like a corporation. The structure is similar to an LLC.
No Corporate or Personal Income Tax
There is no state income tax in Wyoming, and no annual income tax form to file with Wyoming. No need to give your money away to big brother. Wyoming is a free state. Save that money for the important things in your life.
No Business Tax
Wyoming does not force you to register your business with the State and pay a fee simply to be a business in Wyoming. Nevada recently shocked the corporation community by requiring a business registration tax of $100, after paying hundreds more to form your corporation.
Limitation of Liability
The officers and directors of a Wyoming corporation are protected by statute and case law from the debts and actions of the corporation. Just like a corporation in Wyoming or a limited liability company in Wyoming, you will not lose your personal assets if your company loses a lawsuit…if you keep your finances separated.
Wyoming does not share taxpayer information with the Internal Revenue Service (IRS). Unlike Nevada is some cases, you will not be asked for your social security number when applying for business entities from the Wyoming Secretary of State’s business division office.
Limited Partner information is never on the public record in Wyoming. Everyone deserves privacy in their business life.
The state filing fee is only $100; the annual report fee $50. There are no “hidden fees” for registering officers or changing your address. Wyoming has some of the lowest costs in the country for maintaining a business.
You can issue unlimited shares, with or without par value through your Wyoming corporation. Wyoming offers preferred, common or a mix of both kinds of shares of stock.
Wyoming does not have the bureaucratic regulations of many states. We like to live free here in Wyoming. You can enjoy the freedom of our business climate. Anyone in the world can own a Wyoming LLC.
Nominee General Partner
Use of nominees to manage your limited partnership allow enhanced privacy protection at a minimal cost. You can have Wyoming Registered Agent sign 20 documents as your nominee officer. One of our wonderful employees will sign the documents in house.
Do you have additional questions? This is Wyoming: Feel FREE to contact us!