Jim,

You should have no trouble incorporating your online business in the state of Wyoming, as long as you do not have employees or an office address in Iowa. (You are able to use your home address in Iowa as the business address).

Please keep in mind, whenever you register a business in a state outside your residence, you will need to have a Registered Agent in the state of registration. Also, should your business grow into having employees, an office, or some assets in Iowa you would eventually need to do the foreign qualification for your Wyoming company in Iowa.