307-460-5009
WYOMING CERTIFICATE OF GOOD STANDING OR STATUS
If you are thinking of setting up your new business in Wyoming or are a foreign company thinking of capitalizing Wyoming market and business climate to expand your business then there are several key areas that you should focus on. One of the key areas is the need for a Wyoming certificate of good standing, which is also known as the certificate of existence. You are probably wondering why this certificate is important or how it will help your business. Let’s read on!
What is Wyoming Certificate of Good Standing?
What is the significance of the Wyoming certificate of good standing? It is basically a document, which certifies that your business entity whether a domestic or a foreign entity exists legally in the state and is in compliance with all the requirements necessary to transact business in this state.
This certificate of existence provides an accurate account of Wyoming business status thus helping companies to apply for loans, financial incentives, license, and basically, highlights the fact that the business alive and not in default or revoked. Different types of business entities can apply for this certificate in the state of Wyoming including business corporations, limited liability companies, and limited partnerships among others.
One of the important aspects of the Wyoming certificate of existence is that the certificate of existence comes with an expiration date. The expiration time varies from one state to another and normally it has to be renewed annually corresponding to the date of registration or formation of the business entity in the state.
It is also important to note that a foreign business entity including an LLC and a business corporation will be required to submit the original Wyoming certificate of good standing or existence along with the Certificate of Authority and it should not be dated more than 60 days prior to filing in state. The certificate of existence should also be authenticated by the Secretary of State or any official who has custody of corporate records in the state.
How to get a certificate of good standing in Wyoming?
A certificate of existence or good standing is required by both domestic and foreign business entities as it highlights the Wyoming business status as active and not forfeited or in default. The question is how can you apply for this certificate? Is there a process? We have created a step by step approach towards applying for the good standing certificate.
1. Type of Business
The first step is to identify what type of business you are planning to register like whether it is a profit corporation, LLC, LP, or some other form of business. This will help you to identify the right form or application based on the type of business.
2. Information
You have to provide information pursuant to pursuant to WY Stat § 17-29-208. (2015) for LLC and WY Stat § 17-16-128 (1997 through Reg Sess) for a profit corporation in your order request for a Wyoming certificate of good standing. The following information needs to be provided by a business entity applying for the certificate of existence:
- Name of the business entity as filed in the articles or certificate of authority
- The said business entity was duly formed under the laws of the state of Wyoming and the date of incorporation or formation
- Confirmation of payment of all types of fees, taxes as well as penalties if any that was due to the secretary of state
- State of formation, which in this case would be Wyoming
- Physical address of the business entity
- The name of the Registered agent and their address
- Federal tax identification number
3. Order Request
In order to ensure active Wyoming business status, you can order or file the certificate of existence with the office of the Wyoming Secretary of State. It can be done in the following ways:
- By Mail: You can request for certificate through mail. You will have to provide information including name of business entity, return address information, a daytime phone number, along with the fee of $20 payable to the “Secretary of State”. It has to be mailed to the Wyoming Secretary of State, 2020 Carey Avenue, Suite 700, Cheyenne, WY 82002-0020.
- By Email: You can also send the request for a Wyoming certificate of good standing along with your credit card information to SOSRequest@state.wy.us. You will have to provide specific information on the order request including name of business entity, return address information, a daytime phone number, and credit card payment form or authorization.
- By Fax: A request for Wyoming certificate of existence for domestic or foreign business entities can also be made through fax. You will have to fax the request along with credit card information to 307-777-5339.
- Online: One of the fastest ways to receive a Wyoming certificate of good standing in the state is by applying Online. We at IncParadise, offer an online request or order option for businesses in the state so that it can be processed as early as possible.
Order Your Wyoming Certificate of Existence Today!
Why do I need a Certificate of Good Standing in Wyoming?
A certificate of good standing also known as the certificate of existence is one of the most important documents that business entities require in the state and you have to provide this document along with your articles or certificate of authority. The question is – Why would a business entity require a certificate of good standing at all?
There are several reasons why a Wyoming certificate of good standing is required and some of them are:
The greatest barrier that a business entity may face in the state of Wyoming is losing their active status. A business can lose its active status if it has:
- Failed to hire a registered agent or maintain a registered office in the state pursuant to WY Stat § 17-29-705, (2015) for LLC and WY Stat § 17-16-501 (1997 through Reg Sess) for profit corporations
- Failed to pay the annual fee accompanying the annual report as required by W.S. 17-29-210 or submit annual report license tax pursuant to W.S. 17-16-1630
- Failed to pay penalties imposed under W.S. 17-28-109
Losing the active status means that the LLC or profit corporation has forfeited any rights or privileges it has in the state of Wyoming. In such a scenario the business entity will have to reinstate and apply for a fresh certificate after fulfilling the requirement of a registered agent and by submitting their annual report, fee, and penalties. This reinstatement process is the only way the company can have an active Wyoming business status. Losing your active business status can cause damage to the reputation of the business entity severely.
An active Wyoming business status indicates that the business entity in question has a good standing in the state and this is extremely useful for applying for loans and financial incentives as well as conducting business transactions in the state. This certificate will play a crucial role in ensuring there are no hindrances in the business operations.
A foreign business entity requires a Wyoming certificate of good standing by law. According to WY Stat § 17-16-128 (1997 through Reg Sess) for foreign corporation and WY Stat § 17-29-208. (2015) for foreign LLC, if a business entity doesn’t have the certificate of good standing then they will not be authorized to transact their business within this State.
How long does it take to get a certificate of good standing in Wyoming?
A Wyoming certificate of good standing is also known as the “Tax Status Compliance Certificate” or “Wyoming Tax Clearance Certificate”. A business entity can receive the good standing certificate only if it is not in default or suspended by the Secretary of State.
The normal processing time can vary from 2 to 7 days, and there can be additional time required for mailing the certificate. The Wyoming Secretary of State doesn’t offer expedite service but you can have it expedited by applying through our easy to access ONLINE system. If you are wondering what are the benefits then here are some of them:
- You will have your own secure business account
- You can view the certificate order form, fill it, edit it, manage it, and submit along with the required fee directly from your account
- You can save time and the processing will be quick
- You will be able to view the certificate and download it right from your account