The Privacy Myth of Wyoming LLCs: What You Need to Know

Beware advice of non-lawyers promoting Wyoming LLCs as a privacy silver bullet

Many entrepreneurs and even general privacy supporters promote the formation of  a Wyoming LLC for privacy enhancement purposes, due to the state's reputation for privacy and asset protection.  However, the reality is that the privacy benefits of a Wyoming LLC may be overstated, and failing to properly register in your home state can have serious legal consequences.

Welcome to another issue of Secrets of Privacy where we discuss personal privacy related topics and provide practical tips to immediately shield your personal privacy.

If you’re reading this but haven’t yet signed up, join the growing Secrets of Privacy community for free and get our newsletter delivered to your inbox by subscribing here 👇

Just the other week, another privacy newsletter published a post about Wyoming LLCs. To be honest (no sugar coating here), the advice is bad and will get people in legal trouble if they follow it. Here’s an excerpt:

We haven’t done a full 50 state survey, but you should plan on registering your Wyoming LLC in the state where you reside/work from. More on this below. But the above bad advice highlights common misconceptions about WY LLCs and what can happen when non-attorneys start weighing in on complex legal and privacy issues.

Why Wyoming LLCs?

Wyoming does allow for the formation of anonymous LLCs, where the names of members or managers are not publicly disclosed. This can provide a degree of privacy for business owners who wish to keep their personal information off public records. Additionally, Wyoming's lack of corporate income tax and certain asset protection trusts can be advantageous for some businesses.

Interstate Corporate Registration Requirements