Wyoming Auction License

Wyoming Auction License

All the auctioneers and dealers who conduct trade-related work within the state have to hold Wyoming Auction License. The permit assures that your business is functioning legally. Of course, you must meet a number of conditions such as posting a bond as a guarantee.

Types of Wyoming Auction Permit

First of all, you need to determine what type of permit you want. The Department of Transportation (DOT) regulates the process. You can obtain one of the following licenses:

  • New Vehicle Dealer
  • Used Vehicle Dealer (less than 12 retail sales per year)
  • Used Vehicle Dealer (more than 12 retail sales per year)
  • Manufacturer

What are the requirements?

Anyone interested in selling more than 3 autos in a year should have a permit. To be eligible for the latter, you are to meet the following conditions:

  • Give information about the owners, members of the partnership
  • Provide the legal name of the business
  • List the type of cars you’ll put on sale
  • Include copies of the franchise sales and service agreements if you are applying as a franchise dealer
  • Attach photos of the place of the business. It should clearly display the lot and sign area
  • Include a lease or rental agreement for the property
  • Make sure the location complies with enterprise criteria
  • Submit a $25 000 surety bond
  • Undergo a criminal background check

In general, the latter will take at least 30 days to complete. That’s why it’ll be better to plan it ahead of time. Note that most of the time the state requires holding a business permit as well to operate on your own.

Application Process

To begin the licensing process, you need to fill in the application. You must obtain additional documentation from the authorized authorities. The following are some of them:

  • A copy of your Articles of Incorporation or Organization from the WY Secretary of State
  • IRS documentation of your EIN
  • WY Sales and Use Tax License from the DoR
  • State and national fingerprint cards obtained from WYDOT
  • Written approval from county authority stating that the location is approved for automobile sales

Another important aspect is that you need to provide fair information. The request will be rejected if the information is incorrect or insufficient. Once you have completed the application, and have the necessary documents, send the package to WYDOT:

ATTN: Motor Vehicle Services
5300 Bishop Blvd.
Cheyenne, WY 82009-3340

The department will not issue a certificate until the criminal history record information has been received, evaluated, and the request has been approved.

Location

You must also ensure that you meet the location requirements to get the permit. The business should be located in a permanent building.

The location can comply with various commands depending on the type of certificate. The first requirement is to match the conditions of the office with the one presented in the document. Secondly, there should be enough space to display at least 5 or more autos. Thirdly, a phone number is a must. However, it only refers to those who sell more than 12 cars annually.

From the road, a sign stating the nature of the company should be clearly seen. Moreover, you are to submit photos showing the building, sign, and display area with your application. The person should occupy the territory continuously. Last but not the least, if the property is leased or rented, provide a formal agreement.

Wyoming Auction License Fees

The licensing fees that you have to cover are:

  • $100 for manufacturers selling more than 12 cars annually
  • $25 for selling less than 12 cars annually
  • $39 for fingerprint cards

You have to renew your Wyoming auction permit annually. Besides the license, you also need to renew the surety bond.

Nune G

Nune G

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