When it comes to business expansion and growth through mergers, choosing the right state for filing can be a critical decision. Wyoming, often dubbed the “Delaware of the West” due to its business-friendly environment, is increasingly becoming a preferred destination for companies seeking to navigate the complexities of mergers. To review Wyoming’s Corporation Merger Statutes, focus on Section 17-16-1102.
When considering filing a Wyoming merger, some questions you may be asking are:
Is there a statutory form for mergers in Wyoming?
No, Wyoming does not provide a statutory merger form for corporations, limited liability companies, or non-profit corporations but they do accept drafted documents. Wyoming Statute § 17-16-1102 part (c) details the requirements for a plan of merger draft. It must include vital details such as the names of merging entities, terms and conditions of the merger, disposition of shares or eligible interests, and articles of incorporation or organic documents of the surviving entity. Other provisions required by applicable laws, articles of incorporation, or organic documents must also be included.
Will Corp1 provide a merger document?
Our Corp1 Wyoming office is willing to review any drafted documents from the client or their attorney/accountant prior to submission against the state statutes and check for any obvious reasons for rejection. We do not have a template merger document to provide. Reach out to WYorders@corp1.com for additional questions about document review and submission.
What is the state fee for a Wyoming merger document?
Corporations and LLCs are $50.00 per merger filing and non-profit corporations are $10.00 per merger filing.
What is the turnaround time for filing a Wyoming merger?
Mergers can only be submitted over-the-counter with processing time of 10-15 business days. The Wyoming Secretary of State does not offer any expedite options. The Corp1 Wyoming office can accept electronic copies and track submitted documents so you don’t have to.
Can I merge a domestic or foreign entity into a Wyoming entity?
Yes, Wyoming allows both domestic (to Wyoming) and foreign (from another jurisdiction) entities to merge on the records of the Wyoming Secretary of State. Consult our office and/or your attorney or accountant to determine if a merger or conversion is right for your business.
Choosing Wyoming as the filing location for mergers can offer businesses a strategic advantage. The state’s business-friendly climate makes it an attractive destination for companies seeking a smooth process. As businesses continue to explore growth opportunities, Wyoming is a beacon for those looking to make strategic moves in the world of mergers and acquisitions.
Reach out to the Corp1 Wyoming office today to inquire or learn more!