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Are you saying that Wyoming doesn't have those requirements?

• TedDoesntTalk 4y ago
  Not if you mark your corporation as a “close” corporation (limited to 35 employees). The entity type does not matter (C, S, LLC). “Abbreviated governance - shareholders may agree in writing to treat the corporation as a partnership, operate without a board of directors, dispense with annual meetings, and make a shareholder agreement. Advantages • Limited liability - the law says shareholders don’t have personal liability even though they relax corporate formalities in operations. • Ease of operation - operates without pomp and circumstance required in regular corporations where hundreds of shareholders must receive information and vote. • Cost of operation - relaxed corporate governance means lower legal, accounting and administrative fees for lower total costs of operation. • Deadlock prevention - provides access to court when shareholders are deadlocked and harm could befall the corporation through lack of action. • Buy-out provisions - shareholders may buy out a deceased shareholder’s interest according to shareholder agreements” https://sos.wyo.gov/Forms/Publications/ChoiceIsYours.pdf https://sos.wyo.gov/Forms/Publications/ChoiceIsYours.pdf Many of the disadvantages listed are no different than for other corporate entities.
  • markdown 4y ago
    Hey thanks. That's very helpful.