I am not business minded and this is a huge endeavor I am setting up for myself. Please speak to me like I am 5. What is the benefit of setting up an LLC in Wyoming? I have residency in CO and will primarily run my business in CO but might also provide in person or virtual services in WY. For now I am the only person in my company but very well could expand and hire employees depending on how things go as I know demand is there. I have heard wyoming is a good place to start a business due to no state income tax.i understand the start up costs and I would have to file as a foreign LLC in colorado. I guess ultimately there is no harm in starting in Wyoming but I don’t know if it will benefit in the long term. I can provide more information about the company if that is relevant. I guess I just feel stuck and don’t know the best way to move forward I have homes in both states if that is relevant.