Sole proprietorship
An unincorporated business owned and run by one individual, with no separate legal personality and no liability shield. No entity filing is made.
- Entiva fee to form
- $109
- Government fees to form
- None listed
- Run plan
- $29 a month
- Steps to form
- 5
- Ongoing filings
- 5
- Ways to close
- 2
Who it suits, and what defines it.
Governed by the None; Wyoming trade names W.S. 40-2-101 to 40-2-111.
Who it suits
- Individuals who run a business alone, under their own name or a trade name.
- Founders who start this way and later convert to an LLC.
Key facts
- Legal status
- No separate legal personality
- Liability
- No liability shield
- Entity filing
- None
- Trade name
- Needed to trade under another name
- Wyoming trade name
- $100 to register
- EIN
- Needed with employees or excise or pension filings
- Income tax
- Reported on the owner's personal return
- Statute
- None; Wyoming trade names W.S. 40-2-101 to 40-2-111
What the law requires.
3 rules, each in plain words.
A trade name (DBA, or doing business as) registration
Needed when trading under a name other than the owner's legal name; in Wyoming it is with the Secretary of State, elsewhere often the county.
An EIN if the business has employees
Also needed for excise or pension filings; otherwise the owner's SSN or ITIN is used.
State and local business licences
Plus sales-tax registration, as applicable.
How Entiva forms it.
5 steps. Entiva prepares and files each one, and collects every signature the law needs.
The steps
5 steps- 1Register the trade nameOnly if needed
Only when trading under a name other than the owner's. Wyoming Secretary of State: $100. Other states register at state or county level.
- 2Get an EIN
The EIN is the business's IRS tax number. Needed with employees or excise or pension filings.
- 3Apply for an ITIN for a foreign owner
Form W-7, for a foreign individual owner who needs a US taxpayer number (ITIN).
- 4Register for state taxes
Sales tax and employer accounts, such as payroll withholding and unemployment insurance.
- 5Get a Nevada state business licenceOnly if needed
Only if the business is in Nevada.
Documents
7- Trade name application or assumed name certificate
- Filed registration or certificate
- Form W-7 for an ITIN
- Passport, original or certified copy
- Registration data sheet for state taxes
- EIN confirmation from the IRS
- Nevada state business licence
Who takes part
3- The owner, who signs the trade name application: identity and address checked
- A foreign owner applying for an ITIN: identity and address checked
- The responsible officer named on state tax registrations: identity and address checked
What has to be filed, and when.
Entiva tracks every deadline from the day it is formed, and files before each one.
Every year, and as things happen
5 filings- Renew the trade name registration
Before the registration lapses; Wyoming renewal fee $50
- File the Nevada Commerce Tax return
45 days after June 30, if Nevada gross revenue is above $4,000,000
- File the Nevada Exempt Status Entity Form
45 days after June 30, if Nevada gross revenue is below $4,000,000
- File Forms 1099-NEC and 1099-MISC for contractors
January 31 for Form 1099-NEC
- File Forms 1042-S and 1042 for payments to foreign persons
March 15, only if payments go to foreign persons
The changes Entiva handles.
Each change is prepared, approved, signed and filed.
The most common changes
4 changes- Assign the trade name when the business is sold
- Cancel a trade name that is no longer used
- Apply for an ITIN for a foreign owner
- Convert the business into an LLC or corporation
How it closes.
2 routes. The right one depends on whether it can pay its debts, and who starts it.
Cease business
The owner stops trading.
- 1
Cancel the trade name
- 2
File the final payroll returns
- 3
Close the state tax and licence accounts
- 4
Close the IRS business account (EIN)
Incorporate
The owner forms an LLC or corporation.
- 1
Form an LLC for the new entity
- 2
Or incorporate a corporation instead
- 3
Assign the trade name to the new entity
- 4
Cancel the trade name in the owner's name, if appropriate
What Entiva does for you.
From the first filing to the last.
Sole proprietorship
- Registers the trade name with the Wyoming Secretary of State, or the state or county elsewhere.Formation
- Renews the Wyoming trade name before it lapses.Formation
- Prepares Form W-7 for a foreign owner who needs an ITIN and sends it to the IRS with the identity documents.Formation
- Files the Nevada Commerce Tax return through My Nevada Tax when Nevada revenue is above $4,000,000.Ongoing
- Files Forms 1099-NEC and 1099-MISC for contractor payments.Ongoing
- Files Forms 1042-S and 1042 for payments to foreign persons.Ongoing
Build it with the API.
Every step on this page is an action in the Entiva API, with its documents, signatures and filing.
What it costs, item by item.
Every Entiva fee and every government fee, from forming it to closing it.
Forming it
$109one-off
- Government fees
- None listed
Steps marked only if needed are not counted.
Closing it
Quoted before it starts
- Entiva fee
- Fixed, quoted first
- Government fees
- At cost
Included in the Run plan
- Company secretary
- Renew the trade name registration
- File Forms 1099-NEC and 1099-MISC for contractors
- File Forms 1042-S and 1042 for payments to foreign persons
- Routine changes
- Every deadline tracked
Extra, at a fixed fee
- Apply for an ITIN for a foreign owner
- Register for state taxes
- Get a Nevada state business licenceOnly if needed
- Convert the business into an LLC or corporation
Each extra is quoted before it starts, and nothing is done until you approve it.
Forming it
Entiva's formation fee is $109, one-off. Government fees are passed through at cost.
Wyoming registration $100.
$500 for corporations under NRS 78, 78A, 78B and foreign corporations; $200 for other entities. Initial list fee of $150 is charged separately.
Excludes steps marked only if needed.
Every year
The Run plan costs $29 a month ($348 a year).
Wyoming renewal $50.
Changes
Routine changes are included in the Run plan.
Wyoming assignment $25.
Wyoming cancellation $10.
Delaware figure: other entity into a DE corporation $184 plus Certificate of Incorporation. DE corporation to non-DE entity $234. Into or out of a DE LLC $220. LP $200; statutory trust $500.
Closing it
Closing is a fixed-fee project, quoted before it starts.
Wyoming cancellation $10.
Delaware domestic certificate of formation; DE expedite 24-hour $50, same-day $100. WY $100.
DE expedite: 24-hour $50, same-day $100, 2-hour $500, 1-hour $1,000. WY $100.
Wyoming assignment $25.
Entiva fees are in US dollars. Government fees are in the currency each authority charges, passed through at cost when the filing is made. Taxes are separate.
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