T'S TIME TO MOVE!
The Wyoming Secretary of State no longer wants your business.New laws have taken effect aimed at making it easier for authorities to track company owners and officers. Holding companies, brokers, and out of state companies without a Wyoming address other than the Registered Agent, will be dissolved. If you use a PO Box, Wheeler with the Corporations Divison, will be suspicious of your company. They are requiring Communications Contact Person (MUST be a natural person) name, business address and telephone number and, names and addresses of each entity's directors, officers, limited liability company members/managers, managing partners, trustees or persons serving in a similar capacity. This information must be kept current within 60 days of any change. For Corporations the officer and director information must be maintained until the corporation files its first annual report with the Secretary of State and the communication contact must continue to be maintained as changed and current within 60 days of any change. For Limited Liability Companies this information must be maintained indefinitely and updated as changed and current within 60 days of any change.
According to the Casper newspaper - Out of state companies are using Wyoming's GOOD NAME. The Secretary of State office is protecting Wyoming from terrorism. Not only will a company be dissolved, they are threatening owners with a two year prison term. Wyoming has been recruiting businesses with simple and inexpensive business registration. The Registration fees are no longer enough however. They want Wyoming companies to have a business address in Wyoming and they want these companies to hire local Wyoming residents. According to Karen Wheeler, If Wyoming had all these companies located in Wyoming, then Wyoming would be booming.
According to the Torrington newspaper - There is not enough transparency. We are looking for more information on company owners and business addresses. Our office's top priority right now is to try to shut them down, Maxfield said. We are going to spend a lot of time during the next two years getting the information out.
LATE WITH YOUR ANNUAL REPORT? Not only will the Wyoming Secretary of State Corporation's Division dissolve your company for being late with your annual report, they will publish your personal informationin newspapers.