If you’re an Australian entrepreneur expanding into the U.S. market, you’ve probably come across Wyoming as a preferred destination for forming a Limited Liability Company (LLC). With no state income tax, low fees, and straightforward compliance, it’s no wonder that Wyoming is a top pick for global founders.
But after formation, one crucial question arises: Do I need to file taxes in the U.S. if I live in Australia and own a Wyoming LLC?
The short answer is yes. Even if your LLC earns no income, the IRS and the state of Wyoming still expect annual filings from foreign-owned LLCs.
In this article, we’ll cover everything you need to know—from federal and state requirements to timelines, penalties, and how Bookmate can make U.S. compliance painless.
Can an Australian Own a U.S. LLC?
Yes, absolutely. There are no citizenship or residency requirements to own a U.S.-based LLC. Australians can own 100% of a Wyoming LLC without needing a visa, social security number, or U.S. address.
Wyoming remains one of the most favorable states to form an LLC for the following reasons:
- No state income tax (if no physical presence)
- Minimal annual fees (starting at $60)
- Simple, remote registration process
- Strong privacy protections
- No capital requirements
Most Australians form their LLC using platforms like Firstbase, Doola, or similar services, which handle everything from state filings to registered agent services. Once the LLC is formed, the next critical step is obtaining an EIN (Employer Identification Number) from the IRS—required for tax filings, banking, and payment platforms.
Common U.S. Tax Obligations for Australians with a Wyoming LLC
Once your LLC is formed, the U.S. government requires you to file taxes—regardless of whether your business earns income or not. These filings help the IRS track ownership and foreign investments, even if there's no tax liability.
Here are the two main obligations:
- Federal Taxes (IRS)
- State Filings (Wyoming Annual Report)
Let's break down each requirement.
1. Federal Filing Requirements: What You Must File with the IRS
Your filing obligations depend on whether your LLC is a single-member or multi-member entity.
Single-Member LLC (Foreign-Owned)
If you're the sole owner of your Wyoming LLC, the IRS treats it as a disregarded entity. You’ll need to file:
- Form 5472 – Discloses that your LLC is foreign-owned and reports any reportable transactions, like you funding the business.
- Pro forma Form 1120 – A simplified U.S. corporate tax return that accompanies Form 5472.
These forms must be filed every year—even if the company had no income—and are due by April 15. If you need more time, you can file an extension (Form 7004) to move your deadline to October 15.
Failure to file Form 5472 results in a $25,000 penalty—per form, per year.
Multi-Member LLC (Foreign-Owned)
If your LLC has two or more owners, the IRS considers it a partnership. You’ll need to:
- File Form 1065 (U.S. Partnership Return)
- Issue Schedule K-1 forms to each partner
If your business has effectively connected income (ECI) with the U.S., each foreign member may also need to file a Form 1040-NR (U.S. Nonresident Tax Return).
The only exception to federal filing for multi-member LLCs is if the business had absolutely no financial activity at all during the year—no transactions, no income, no banking.
2. Wyoming State Filing Requirements
Even though Wyoming doesn’t charge income tax, all LLCs must file an Annual Report:
- Due during the anniversary month of your LLC’s formation
- Minimum filing fee is $60 (based on Wyoming assets)
- Must be filed online through the Wyoming Secretary of State
- No extensions allowed—file on time or risk company dissolution
If your business has no physical presence in Wyoming, you owe no state income tax, just this flat annual report fee.
What If My Wyoming LLC Has No Income?
This is a common question for Australians running early-stage startups or dormant entities.
If your LLC:
- Had no clients
- Earned no income
- Had no expenses
- Didn’t use a Stripe or PayPal account
You’re still required to file if you’re a single-member LLC (Form 5472 + pro forma 1120).
The only exception is for multi-member LLCs with truly zero activity—no financial transactions at all. Otherwise, federal filings are still required.
Missing these forms can trigger penalties of up to $25,000 per form, per year.
EINs and Payment Platforms
To open a U.S. bank account or use platforms like Stripe, PayPal, Shopify, etc., your Wyoming LLC needs an EIN. This is your company’s IRS-issued tax ID. It’s also required to:
- File any federal tax forms
- Work with U.S. accountants or bookkeepers
- Comply with financial regulations
If you don’t have a U.S. Social Security Number, the EIN application can still be submitted by fax. Bookmate can help with this step as part of your tax filing package.
Do I Need to File Taxes in Australia Too?
Most likely, yes. Australia taxes residents on their worldwide income, including distributions or profits received from your U.S. LLC.
Australia and the U.S. have a tax treaty, which can help reduce or eliminate double taxation. However, you still need to report the existence of the LLC and any distributions or profits.
We recommend working with a qualified Australian tax advisor. Bookmate handles only your U.S. filings, but we’ll coordinate with your local advisor if needed.
How Bookmate Helps Australian Founders
Bookmate specializes in U.S. tax filings for foreign-owned LLCs—including founders based in Australia. Whether you run a digital agency, SaaS company, e-commerce store, or consulting business, we simplify the process from start to finish.
Our services include:
- Preparing and filing Form 5472 + pro forma 1120
- Filing Form 1065 + Schedule K-1s for multi-member LLCs
- Preparing 1040-NR returns when applicable
- EIN assistance
- Handling IRS extension filings and notices
All services are delivered remotely. No paperwork, mailing, or U.S. address required.
Our Process (Simple and Remote)
Step 1: Book a Free Consultation We start with a Zoom call to understand your business, structure, and goals.
Step 2: Engagement + Payment You’ll receive an invoice and service agreement—no surprise fees.
Step 3: Secure Onboarding Form You’ll complete an online form to share your EIN, ownership, and business info.
Step 4: Tax Preparation Our CPAs prepare and review your federal and (if needed) state filings.
Step 5: Filing and Follow-Up We handle all submissions and deal with the IRS on your behalf if needed.
Ready to File U.S. Taxes for Your Wyoming LLC?
Bookmate helps Australian founders handle U.S. compliance quickly and affordably. Whether you’re staying ahead of deadlines or catching up on past filings, we’ll make sure your Wyoming LLC stays in good standing.
📅 Book a free consultation or visit trybookmate.co to get started.
Disclaimer: This article is for informational purposes only and does not constitute legal or tax advice. For guidance on your Australian tax obligations, please consult a licensed tax professional in Australia.
