State Income Tax - Unusual Category - Wyoming
I would like to move my business to Wyoming (from another state) but in doing so will I be able to enjoy the tax advantages of no state tax in Wyoming, since Wyoming is not my state of residency? My business is a 2-member LLC with tax filing as an S-Corp, which means it passes through. However, will I send myself a W-2 from Wyoming (the location of the business) or my state of residency? Also, my work products are not tangible work. It is all consulting, virtually or in person domestically.
Quick Answer:
Moving your S-Corp LLC to Wyoming can offer some advantages for the entity itself, as Wyoming has no state corporate or individual income tax.
However, since your business is an S-Corp and
Note: This answer is provided for convenience only. It is important that you speak to a CPA about your individual tax situation.
