You may be asked to provide a certificate of good standing for your Wyoming limited liability company (LLC) at some point. Banks and creditors often ask for this document before issuing business credit to ensure you comply.
A Wyoming certificate of good standing is relatively easy to obtain, but it does take some know-how. Lucky for you, this handy guide walks you through the process.
What Is a Wyoming Certificate of Good Standing?
In Wyoming, a certificate of good standing verifies that your LLC is in full compliance with state regulations. The state will issue the certificate if you’ve met all deadlines and filed all relevant reports.
Keep in mind that you’re not required to get a certificate of good standing in Wyoming, but banks and creditors might request one, so it’s wise to have it on hand.
In What Situations Would I Need a Certificate of Good Standing?
Again, a bank or creditor might request a certificate of good standing when you apply for a business loan or business credit. This is simply part of their due diligence and risk assessment, confirming that your business has no outstanding regulatory issues.
In addition, if you expand your business to other states, you’ll have to register as a foreign LLC in those states. In such cases, the new state may request a certificate of good standing from your home state.
Requirements to Obtain a Certificate of Good Standing in Wyoming
You must have a registered business entity in the state, either an LLC or a corporation. Sole proprietorships and partnerships do not register with the state, so they cannot obtain a certificate of good standing.
You’ll also need to comply with all legal requirements for your LLC or corporation in Wyoming. That means you’ll need to be up to date on all Wyoming business licenses, permits, and reporting requirements.
Which Department Issues Certificates of Good Standing in Wyoming?
In Wyoming, the Secretary of State issues certificates of good standing. You can obtain one online.
How to Get a Certificate of Good Standing in Wyoming
Visit the Wyoming Secretary of State’s online Business Center.
Enter your Filing ID in the “Generate” field. The Secretary of State Office assigned your Filing ID to your business. If you want to double-check your Filing ID, you can search for it by the name of your business on the Business Center’s Filing Search page.
The next page will display your business’s name and relevant information. At the bottom of the page, click “Print” to download a pdf of your certificate of good standing.
The fee is $0 if done online, and, assuming your LLC is in full compliance, you should be able to access your certificate online immediately.
If filing by mail, the processing fee is $10, and you will receive your document within seven business days.
Wyoming doesn’t accept certificate requests by mail; you can only obtain them online.
Getting a certificate of good standing may seem like a hassle, but you won’t think that when you need financing. So be sure to get it done when you have a chance— you, and your LLC, will be happy you did.