Wyoming. The last state alphabetically and the first state to give women the right to vote. The state with the smallest population and the largest amount of coal. The state with a bucking bronco on its license plate named, of all things, "Old Steamboat". Wyoming, you're a delightful blend of extremes, and they seem to work out right with you.
Wyoming is also a diverse state in which to register your small escort business, and in this article you'll find clear step-by-step advice on how to do just that. For more information on why it's vitally important to register your business, refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
For more information on these entities within Wyoming, visit the Wyoming Secretary of State » Business Entities.
For some helpful advice on picking out a business name, visit Business.gov.
Step four: Register your business / business name
Sole Proprietorship:
In Wyoming you are not required to register your sole proprietorship escort business as a separate business entity: because the business is you, it is not recognized as a separate business and you'll file your business information along with your own personal taxes. You are also not required to register your business name if it is your name.
But if you take on a DBA name, you'll have to file a Registration of Trade Name with the Wyoming Secretary of State. The form contains basic information about the business and requires a $100 filing fee.
For more information on if taking on a DBA is a good choice for your business, refer to our article Do I want to be a sole proprietor?
Partnership:
In Wyoming you are not required to register your general partnership as a separate business entity. However, it is highly recommended that you draft a statement of partnership or partnership agreement. This document will safeguard the details you've outlined within the partnership should you come into conflict with a partner down the road.
You are also not required to register your business name if it is the collected names of the partners. But if you take on a DBA name, you'll have to file a Registration of Trade Name with the Wyoming Secretary of State. The form contains basic information about the business and requires a $100 filing fee.
Corporation:
To register your escort corporation in Wyoming you'll need to file your Articles of Incorporation with the Wyoming Secretary of State. You'll include information on the amount of shares for the corporation, the incorporating persons and a $100 filing fee. Because of the intricate information required when starting a corporation, it is highly recommended that you seek advice from a business lawyer and accountant.
Registering your Articles of Incorporation will register your business name, so you do not have to do this separately. However, you can reserve your business name before filing by registering a Reservation of a Corporate Name Form at the Wyoming Secretary of State, which requires a $50 filing fee.
LLC:
To register your escort LLC in Wyoming, you'll need to file your Articles of Organization with the Wyoming Secretary of State. The form includes basic information about the members and managers of the LLC, and requires a $100 filing fee.
Registering your Articles of Organization will register your business name, so you do not have to do this separately. However, you can reserve your business name before filing by registering a Reservation of Name Form at the Wyoming Secretary of State, which requires a $50 filing fee.
Step six: Register for your federal and Wyoming state taxes
Wyoming is one of only seven states that does not require residents to pay personal or business income taxes, making it a strong state in which to start your small business. However, you will have to pay federal income, social security and Medicare taxes for yourself, and withhold some payment from your employees for this purpose. For more information, visit the IRS » Employment Taxes.
- Unemployment Insurance: All businesses with employees pay unemployment insurance to safeguard the state's unemployed. More information can be found at the Wyoming Department of Employment.
- Withholding Taxes: Employers must withhold taxes from employees for their personal income taxes on a federal level. More information can be found at the IRS.
- Workers Compensation: If you have employees, you'll have to pay Workers' Compensation. Resources for employers can be found at the Wyoming Department of Employment » Workers' Compensation Employer Services.
- Self-Employment Taxes: If you own and operate your business and are not paid as an employee, you'll need to file your own self-employment taxes for social security and Medicaid. This is particularly true for sole proprietorships, general partnerships and LLCs. You can find this Schedule C / 1040 form and get more information at IRS.gov. Get more information at IRS.gov » Self-Employment Tax.
Step seven: Get necessary licenses and permits
There's no specific "escort license" in Wyoming, and chances are you won't need any other permits to conduct your escort service, but it's a good idea to familiarize yourself with the Wyoming Business Council – Business Permitting Department (http://www.wyomingbusiness.org/business/permitting.aspx) and run your city through the IRS's Permit Me tool and get more information about specific filing from their site.
For more information about registering an escort business in Wyoming, consider the following online destinations:
Find out how to register an escort business in each state of the USA.
Related resources:
Please note: Dating.com is not a legal service, nor are we tax advisors or accountants. We do offer you what we consider our best advice, but if at all in doubt, please consult a professional.
