Business formation may or may not be for you. Let us explore what can really happen for good, or for bad.
The Pros (Good Reasons)
The three big pros of business formation are credibility, liability, and anonymity.
Credibility shows potential clients that you are a real business that has been registered. Future clients and investors want to be able to trust you. This is one way to show that you mean business.
Liability will give you a path of protection when it comes to your personal life. If you get sued while running a business as a self proprietor, you can lose it all. House, money, jewels, baseball cards, cars, boats…all of it. When incorporated, a judgment can only be against the companies assets, not your personal assets.
Anonymity will shield you from potential harmful events from opportunists. Keep your name out of public record associated with a business. It may just save your life. Let us help you with that, see more here.
The Cons (Bad Reasons)
The cost of incorporating and the cost of upkeep may be an issue for some. Depending on what state you choose, this can be life-changing. In Wyoming, the cost are very low, not much of a con.
The cost to open a new Wyoming limited liability company is $100. The cost to update a name, change an article, or to renew are all $50. With prices this low, you may wonder if your home state in conning you.
Form a WY Limited Liability Company
If the pros are in your favor, then form a WY limited liability company with Wyoming Registered Agent for only $199 total. We provide agent service, the state fee, and free mail forwarding.
Form a WY Corporation
Wyoming Registered Agent also offers WY corporation filing for those who need stocks, officers, and a board of directors. The price is a low $199, every time.
