If you want to open a vehicle dealership in Wyoming, you will need to apply for a dealer license. This process requires many steps, from registering your business with the state to getting a background check. To help you stay organized, we’ve compiled a checklist for you to follow so you can get licensed and operating as quickly as possible.
When you set out to apply for your dealer license, the first thing you need to do is choose which type you need. In Wyoming, the Department of Transportation (DOT) is the licensing body, and they break down the license types into the following categories:
Once you’ve chosen which dealer license you’re applying for, you will need to register your business with the state to proceed with the application process. This step means registering online with the Secretary of State and Department of Revenue. Note that the registration fee for an LLC or a corporation is $100.
Additionally, you need to complete a sales and use tax application through the Department of Revenue, which entails a $60 fee.
Last, register for a Federal Employer Identification number with the IRS. 2
Next, if you plan to sell used or new vehicles, you will need to set up a business location. This step must also be completed before applying for your license. It is important to keep in mind that there are many requirements your business location must meet, so ensure your establishment has the following:
You will also need to provide a letter of approval showing that the property meets all local zoning rules.
Any owner of the business will need to complete the state’s Vehicle Dealer Background Check Supplemental Information Questionnaire. You must also include fingerprints with the questionnaire; there may be a separate fee for this. When planning your application, know that this part may take up to 30 days, so leave enough time since your application cannot be approved without this completed step. 3
To operate a dealership, you will need to have a bond worth $25,000. But make sure you don’t execute your bond until your license is approved. Keep in mind that you will not need to pay this full amount; you will only owe a portion based on your financial standing.
In addition to everything mentioned above, you will also need to provide a few more documents:
Now that you’ve completed all the required steps, it’s time to pay your fees and submit the final application. The fees are $100 for any dealer who sells more than 12 vehicles per year, or $25 for any dealer who sells fewer. Submit your payment and all documents to:
WYDOT
Attn: Motor Vehicle Services
5300 Bishop Blvd.
Cheyenne, WY 82009
Once you get your license, you will need demo or manufacturer plates ($25) or full use plates ($125). Your license will be valid for one year, and you will need to renew with the DOT.
This is not intended as legal advice. If you have questions about dealer licensing requirements, please seek the assistance of legal counsel.
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