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US state with no corporate or personal income tax
Region
NORTH AMERICA
Corporate Tax
0%
Setup Time
1 weeks
Currency
USD
Wyoming, a sparsely populated US state, has established leadership in blockchain-friendly legislation. The state's company registration and digital asset frameworks support specific business setup within the US.
With a population of 580,000, Wyoming offers Western American living with vast open spaces. English is primary. The climate features cold winters and mild summers.
Healthcare is available through regular US systems. Safety is excellent with low crime. No state income tax contributes to affordability.
The outdoor recreation, ranching heritage, and minimal population density define Wyoming character.
Wyoming has no state corporate income tax and no state personal income tax. Federal US tax obligations apply. The favorable state tax environment attracts registration.
No sales tax applies to most services. The economy features energy, agriculture, and tourism. Blockchain legislation has attracted digital asset interest.
Company registration through the Wyoming Secretary of State is efficient. LLCs benefit from strong asset protection and privacy features. Wyoming DAOs (decentralized autonomous organizations) have legal recognition.
Company formation completes within days. No minimum capital requirements apply. Annual report requirements apply.
Wyoming established the Special Purpose Depository Institution (SPDI) charter for crypto banks. The state's comprehensive digital asset legislation provides favorable treatment without federal preemption. Wyoming does not require money transmitter licenses for certain digital asset activities.
Gambling is limited in Wyoming with pari-mutuel and limited gaming only. No commercial casino or online gambling licensing exists.
Wyoming registration provides state-level benefits but federal obligations remain. The state's advantages are primarily for specific digital asset and LLC purposes. Physical operations require consideration of the remote location.
Banking access is through US banking channels. Professional services for blockchain formation are developing.
Wyoming suits crypto-focused businesses, DAOs, and those seeking favorable LLC treatment within the US for their business setup.
Local: LLC
Local: Corporation
Local: Trust
Local: LP
| Corporate Tax Rate | 0% |
| Personal Income Tax Rate | 0% |
| VAT / Sales Tax | 4% |
| Capital Gains Tax | 0% |
| Withholding Tax | 30% |
| Reduced Corporate Tax Available | No |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | HIGH |
| Currency Controls | NONE |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | No |
| Mandatory Audit | No |
| License Required | No |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF (federal FinCEN requirements) |
| Business Plan Required | Required for SPDI charter; standard LLCs have minimal requirements |
| Personnel Required | None mandated for standard crypto operations; SPDI requires CEO, compliance personnel |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Wyoming Secretary of State - registered agent info is public, member/shareholder info not required on public filings |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | No |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | No |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Wyoming Division of Banking (for SPDI), FinCEN (federal MSB registration) |
| Licensing Fee | $0 |
| Licensing Fee Details | No state crypto license required. Virtual currency exempt from Wyoming Money Transmitter Act. SPDI charter: $10,000+ application fee, $5M minimum capital. Federal FinCEN MSB registration: Free. |
| Permitted Business Models | Exchange, Custody, Wallet, Trading, Staking, DAO LLC, NFT marketplace |
| Permitted Activities | Virtual currency exchange, custody, transmission (exempt from state MTL), tokenization, smart contracts, DAO operations |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | Yes |
| RWA Tokenization Allowed | Yes |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Business plan required for sports wagering operator permit |
| Personnel Required | Key personnel background checks required |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Wyoming Gaming Commission |
| Renewal Period | 5 years for sports wagering |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | No |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Wyoming Gaming Commission |
| Licensing Fee | $100,000 |
| Licensing Fee Details | $2,500 application fee + $100,000 initial license fee (5-year term) + $50,000 renewal fee. Must operate in at least 3 other US states to apply. |
| Permitted Business Models | Online sports wagering (B2C), Pari-mutuel wagering |
| Permitted Activities | Online/mobile sports betting, horse racing betting, pari-mutuel wagering, skill-based amusement games |
| Restricted Activities | Online casino gaming not currently legal (pending legislation). Only tribal casinos can offer Class III gaming. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | No |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Required Share Capital | $25,000 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant via FinCEN requirements |
| Business Plan Required | Description of business activities and history of operations required |
| Personnel Required | Executive officers, key shareholders, officer/manager in charge of licensed activities |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | NMLS - Nationwide Multistate Licensing System |
| Renewal Period | Annual (expires October 1) |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | No |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | No |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Wyoming Division of Banking, FinCEN (federal) |
| Licensing Fee | $3,000 |
| Licensing Fee Details | $3,000 non-refundable application fee. Surety bond: $10,000 minimum or 2.5x outstanding payment instruments, max $500,000. Minimum net worth: $25,000. |
| Permitted Business Models | Money Transmitter, Payment Services, Money Orders, Stored Value |
| Permitted Activities | Money transmission, payment instrument issuance, stored value services, bill pay services, foreign currency exchange |
| Restricted Activities | Banking services require separate charter. Virtual currency transmission exempt from MTL under Wyoming law. |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |