Wyoming LLC Operating Agreement

While Wyoming doesn't mandate an operating agreement by law, having one is strongly recommended for every LLC. An operating agreement establishes your LLC's internal rules, protects your personal assets, and is typically required by banks to open a business account.

Wyoming is the most popular state for LLC formation due to its strong asset protection laws, no state income tax, no franchise tax, low annual fees, and privacy protections. The state was the first to create the LLC structure in 1977 and has the most developed LLC laws in the country.

Yes, Wyoming requires an annual report, but it's not due until the first day of the anniversary month following your LLC's formation. The fee is minimal ($60 or two times the $60 license tax, whichever is greater). Unlike many states, there's no report required in the first year.

Yes. Our operating agreements are accepted by major banks including Mercury, Chase, Bank of America, and others. The document includes all standard provisions banks look for: member information, ownership structure, and authorization for banking activities. Thousands of our clients have successfully used our agreements to open US bank accounts.

Yes, operating agreements can be amended at any time with the consent of members as specified in the original agreement (typically majority or unanimous approval). Common reasons for amendments include adding or removing members, changing ownership percentages, modifying profit distributions, or updating management structure.

In a member-managed LLC, all members participate in daily business decisions. In a manager-managed LLC, designated managers (who may or may not be members) handle operations while other members are passive investors. Our operating agreement lets you choose either structure and clearly defines the rights and responsibilities of each role.