UNDERSTANDING S CORPORATIONS IN CHEYENNE, WYOMING
🚨 CRITICAL CLARIFICATION
An S Corporation is not a separate business entity type—it's a federal tax election. According to the IRS, S corporations are "corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes."
The U.S. Small Business Administration confirms that "an S corporation, sometimes called an S corp, is a special type of corporation that's designed to avoid the double taxation drawback of regular C corps."
🏛️ WHY CHOOSE CHEYENNE, WYOMING?
Cheyenne offers specific advantages as Wyoming's capital city and largest municipality:
State Advantages:
- • Low filing fees - $100 for profit corporation Articles of Incorporation
- • No state income tax on corporations or individuals
- • Business-friendly regulations from Wyoming Secretary of State
Cheyenne-Specific Benefits:
- • Capital city access to state government resources
- • Comprehensive business licensing system with online portal
- • Established infrastructure and municipal services
STEP 1: FILE ARTICLES OF INCORPORATION
Required Information
According to Wyoming Business Corporation Act, your Articles of Incorporation must include specific mandatory elements.
Corporate Name Requirements:
- • Must be distinguishable from existing Wyoming entities
- • May include corporate designators, though not required in Wyoming
- • Must comply with Wyoming Business Corporation Act naming provisions
Essential Filing Information:
- • Corporate name and any trade names
- • Registered agent name and Wyoming street address (P.O. boxes not accepted)
- • Principal office address
- • Authorized shares and par value information
- • Incorporator name and address
- • Email address for official correspondence
- • Corporate purposes
Wyoming Registered Agent
Wyoming law mandates that every corporation maintain a registered agent with a physical street address in Wyoming. Your registered agent can be located anywhere in Wyoming, not necessarily in Cheyenne.
Filing Process and Fees
Filing Methods:
- • Online Filing: Through Wyoming Business Center portal for domestic profit corporations
- • Mail Filing: Send to Wyoming Secretary of State, Herschler Building East, 122 W 25th Street, Suite 101, Cheyenne, WY 82002-0020
Filing Fees:
- • Articles of Incorporation: $100.00
- • Online filings: Visa or MasterCard accepted with $3.75 convenience fee
- • Mail filings: Check or money order payable to "Wyoming Secretary of State"
STEP 2: ELECT S CORP TAX STATUS WITH IRS FORM 2553
After your Wyoming corporation is approved, you must file IRS Form 2553 "Election by a Small Business Corporation" to elect S Corp tax treatment.
⚠️ CRITICAL TIMING REQUIREMENTS
According to IRS instructions for Form 2553:
- New Corporations: File no more than 2 months and 15 days after the beginning of the tax year the election is to take effect
- Existing Corporations: File anytime during the tax year preceding the tax year the election is to take effect
- Late Elections: Relief may be available for reasonable cause within 3 years and 75 days
S Corp Eligibility Requirements
According to IRS guidelines, your corporation must meet these requirements:
- • Be a domestic corporation
- • Have only allowable shareholders (individuals, certain trusts, and estates)
- • Have no more than 100 shareholders
- • Have only one class of stock
- • Not be an ineligible corporation (certain financial institutions, insurance companies, etc.)
- • No nonresident alien shareholders
STEP 3: OBTAIN FEDERAL EIN
Every Wyoming corporation needs an EIN from the IRS. You must have an EIN before filing Form 2553.
How to Obtain EIN:
- • Apply directly with IRS online (free and immediate)
- • Apply by mail or fax (takes several weeks)
STEP 4: CHEYENNE CITY BUSINESS LICENSE
🏛️ MANDATORY CHEYENNE LICENSING
According to the City of Cheyenne Business Licensing Division, all businesses operating in Cheyenne must obtain proper city licenses before beginning operations.
Critical Requirement: The City states "If a City License is required you can not operate your business until this has been acquired and all necessary inspections have been completed."
Application Process
Effective March 6, 2023, the City of Cheyenne utilizes an online portal for applying for business licenses and permits.
Portal: cheyennewy.viewpointcloud.com
Contact Information
- Phone: (307) 638-4301 or (307) 637-6330
- Office: City Clerk Department, Municipal Building, 2101 O'Neil Avenue, Room 101, Cheyenne, WY 82001
- Hours: 8 a.m. to 5 p.m., Monday through Friday
Required Inspections
The City of Cheyenne requires final inspections for business licenses, which may be conducted by:
- • Environmental Health Department
- • Agriculture Department
- • Fire Department
- • Police Department
- • Building Department (Plumbing, Electrical, Mechanical)
- • Board of Public Utilities
- • Zoning Department
SPECIAL BUSINESS TYPE REQUIREMENTS
🍽️ FOOD SERVICE
Any type of food services and/or preparation requires approval by:
- • City/County Environmental Health Department
- • State Agriculture Department
- • Board of Public Utilities
🍺 LIQUOR/ALCOHOL
The City Clerk's Division handles all liquor licensing for businesses planning to sell or serve alcoholic beverages.
🔨 CONTRACTORS
Contractor licenses are required for certain building trades (construction, electrical, maintenance work).
Contact: (307) 637-6332
COST SUMMARY
💰 STATE AND FEDERAL COSTS
| Requirement | Cost | Authority |
|---|---|---|
| Wyoming Articles of Incorporation | $100 | WY Secretary of State |
| IRS Form 2553 (S Corp Election) | FREE | IRS |
| Federal EIN | FREE | IRS |
| Wyoming Annual Report | $60+ | WY Secretary of State |
🏛️ CHEYENNE CITY COSTS
- • Business License: Varies by business type (contact City Clerk for specific fees)
- • Required Inspections: Fees vary by type and number of inspections needed
- • Building Permits: If applicable, contact Building Department for fees
KEY CONTACT INFORMATION
🏛️ WYOMING SECRETARY OF STATE
Website: wyobiz.wyo.gov
Phone: (307) 777-7311
Address: Herschler Building East, 122 W 25th Street, Suite 101, Cheyenne, WY 82002-0020
Fee Schedule: Business Division Filing Fees
🏛️ CITY OF CHEYENNE
Online Portal: cheyennewy.viewpointcloud.com
Phone: (307) 638-4301 or (307) 637-6330
Address: City Clerk Department, Municipal Building, 2101 O'Neil Avenue, Room 101, Cheyenne, WY 82001
Hours: 8 a.m. to 5 p.m., Monday through Friday
Email: [email protected]
🏛️ INTERNAL REVENUE SERVICE
Form 2553 Instructions: IRS.gov/instructions/i2553
S Corporation Info: IRS S Corp Guide
EIN Applications: IRS EIN Online
💰 WYOMING DEPT OF REVENUE
Phone: (307) 777-5200
Address: Herschler Building, 2nd Floor West, 122 W. 25th Street, Cheyenne, WY 82002
💡 FINAL RECOMMENDATION
Cheyenne S Corporation formation involves state incorporation, federal tax elections, and mandatory local business licensing. The SBA recommends consulting with qualified professionals for complex business structures. The City of Cheyenne emphasizes that this information serves as a guide and legal responsibilities should be confirmed with appropriate authorities.
Sources: Wyoming Secretary of State, Internal Revenue Service, U.S. Small Business Administration, City of Cheyenne, Wyoming Department of Revenue
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