Wyoming invented the LLC in 1977 and never stopped shipping new entity types: the DAO LLC, the DUNA (Decentralized Unincorporated Nonprofit Association), founder-friendly trust law. Add 0% corporate tax and the strongest privacy defaults in the US, and you get the state that competes with offshore jurisdictions while staying onshore.
The entity menu. The classic LLC is the flagship, but the catalog runs deeper: C-Corps for conventional structures, trusts with terms favorable enough to manage your own trust without an outside settlor - a wealth-protection setup usually requiring offshore machinery - and the crypto-native inventions. The DAO LLC gave decentralized projects a legislature-built wrapper; the newer DUNA extends the idea to nonprofit protocol governance. No other US state legislates for Web3 at this pace.
The tax line. Corporate tax: 0%. Sales tax: 4%. That's the whole state-level story - which is exactly the point.
The privacy default. Registration requires a registered agent and address - the agent acts as the company's public face. Annual filings need an officer listed, and a nominee can fill that slot. Layer a Wyoming trust on top and the confidentiality stack rivals jurisdictions that charge far more for the same opacity.
The strategic frame: Wyoming is the US answer to "I want offshore economics without an offshore address." A US entity that banks easily, costs almost nothing to maintain, shows nearly nothing publicly, and - if you're building decentralized - comes in DAO-shaped variants no offshore registry offers. The trade-off is the flag itself: US jurisdiction means US regulatory reach, which is a feature for US-facing projects and the dealbreaker for global token issuance.