What Are LLC Titles?
There is not a universal title for the one who belongs to a limited liability company. There are a few different choices to give someone. Let’s see what the four different types of limited liability company titles there are.
A Wyoming limited liability owner is known as a LLC Member.
A Managing Member of a Wyoming limited liability company is one who owns part of the LLC or all of it, and performs daily operations, makes important business decisions regarding the LLC, and has the authority to sign contracts and such. A Managing Member is considered a member of the LLC and a manager of the LLC.
A Wyoming LLC internal manager is a person who both runs the limited liability company and owns the limited liability company.
External managers of a Wyoming limited liability company will perform work functions for the LLC, but has no ownership of the LLC.
Which LLC Title Should I Use or Give?
Here are some examples to help you in your decision making on the LLC title members, or managers.
- You own a Wyoming limited liability company for a house leasing business. You are the one that runs the Wyoming LLC as a manager. You can call yourself a manager or a managing member. The choice is yours.
- You own part of a Wyoming limited liability company. Other owners of the limited liability company perform the manager duties. You will be called a member is this case.
- You own a dog poop pick up business. The business has gotten so large that you kick back and have someone else run it. You will call that person an external manager. They take care of LLC business such as filings and renewals, but do not own any part of the LLC.
Start a Wyoming LLC
You can start a Wyoming LLC and appoint your own managers and members. The cost for the LLC is $199 total from Wyoming Registered Agent.