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Wyoming’s Newest Contribution To Philanthropic Planning?Wyoming’s Newest Contribution To Philanthropic Planning?

The emergence of decentralized unincorporated autonomous organizations.

Christopher P. Woehrle, Professor and Chair, Department of Tax and Estate Planning

September 17, 2024

5 Min Read
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Wyoming created the limited liability company (LLC) in 1977. In 1988, the Internal Revenue Service issued Revenue Ruling 88-76, holding that an LLC formed under Wyoming law would be taxed as a partnership at the federal level. With its tax status clarified, the LLC quickly became a vehicle of choice for entity and estate planning. The LLC is now the most widely used flow-through entity.1 The 2.7 million LLC partnership returns filed are 72% of all partnership returns filed.2 

On March 7, 2024, Wyoming’s governor signed into law the Decentralized Unincorporated Nonprofit Association Act (the Act),3 a new legal framework for decentralized autonomous organizations (DAOs) and corporations, allowing them to be recognized as decentralized uninc...

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About the Author

Christopher P. Woehrle

Professor and Chair, Department of Tax and Estate Planning, College for Financial Planning, a Kaplan Company

Christopher P. Woehrle is an adjunct professor of taxation at the Widger School of Law, Villanova University in Villanova, Pa.