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Free interactive tool · 2026

Compare LLC states side-by-side

Pick 2–4 states and see filing fees, annual reports, taxes, and processing times in one view. Differences are highlighted automatically.

Pick 2–4 states to compare
PropertyWyoming WYDelaware DENevada NV
Filing feeDIFFERS$100$110$425
Online processing timeDIFFERSImmediate to 1 business day (online)1–2 business days1 business day (online)
Annual reportDIFFERS$60 annual report or $0.0002 per dollar of WY assets, whichever is greaterNo annual report for LLCs — but a $400 annual franchise tax instead$350 ($150 Annual List + $200 State Business License)
Annual report dueDIFFERSDue in the LLC’s anniversary month each year$400 LLC tax due every June 1Due in the LLC’s anniversary month each year
Franchise / entity taxDIFFERSNo personal income tax. No corporate income tax. No franchise tax.$400 flat annual LLC tax (no income or gross receipts component for LLCs that don't do business in Delaware).No state income tax. No franchise tax. But mandatory $200/year State Business License plus the Commerce Tax on businesses with NV-source gross revenue over $4M.
Form nameDIFFERSArticles of OrganizationCertificate of FormationArticles of Organization
DifficultyDIFFERSEasyMediumHard
CapitalDIFFERSCheyenneDoverCarson City
Full guideRead WY guide →Read DE guide →Read NV guide →
Cheapest to file
Wyoming ($100)
Fastest online approval
Wyoming (Immediate to 1 business day (online))

The 3 questions to ask when comparing states

Cheaper isn’t always better. Three factors usually decide which state actually fits your situation:

  1. Where do you actually operate? If you have customers, employees, or physical operations in a state, you have to register there as a foreign LLC even if you formed elsewhere. That doubles your fees. The "form in Wyoming to save money" strategy fails for most operating businesses.
  2. What matters more — upfront cost or ongoing cost? Some states are cheap to form but expensive to keep (Massachusetts: $500 + $500/yr). Others are mid-priced to form but free to maintain (Ohio: $99 + $0). Run the math over 5 years, not just year 1. Use our LLC cost calculator.
  3. Do you need anonymity, asset protection, or fundraising-readiness? If you need asset protection, Wyoming. If you need anonymity, Wyoming or New Mexico. If you need VC funding, Delaware. If you just want the cheapest LLC for a side hustle, your home state (or Missouri / Ohio if you have no home-state operations).

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State comparison FAQ

What's the difference between Wyoming and Delaware for an LLC?

Wyoming currently lists a $100 formation fee and a minimum $60 annual report fee. Delaware lists a $110 formation filing fee and a $400 yearly LLC tax with no separate LLC annual report. State choice also depends on where the business operates, foreign-registration duties, ownership, and legal needs.

Should I form my LLC in Texas or Florida?

Both have no individual income tax. Texas charges $300 to form an LLC; for 2026–2027 its franchise-tax no-tax-due threshold is $2.65 million, and the applicable information report is still required. Florida charges $125 to form and $138.75 for its annual report, due May 1 with a $400 late fee. Where the business actually operates usually matters more than the headline fee.

Which is cheaper long-term: Wyoming or New Mexico?

New Mexico is cheaper on paper: $50 filing fee, $0 annual report (just a registered-agent fee). Wyoming: $100 filing, $60/year minimum annual report, plus RA. So NM saves you ~$60–$110/year. The trade-off: Wyoming has stronger asset-protection statutes (charging-order protection for single-member LLCs). For pure cost minimization choose NM; for asset protection choose Wyoming.

Is Nevada really better than Wyoming for asset protection?

Slightly stronger reverse-veil-piercing protections in Nevada, but Wyoming has equally strong charging-order protection and is significantly cheaper. Nevada: $425 to form (filing + Initial List + State Business License) and $350/year ongoing. Wyoming: $100 to form, $60/year. For 99% of asset-protection use cases, Wyoming offers comparable protection at a fraction of the cost. Nevada makes sense if you actually operate in Nevada or have a specific reason for the State Business License regime.

Does the state I form in affect my federal taxes?

No. Federal tax treatment is identical regardless of state — an LLC taxed as a sole proprietorship in Wyoming is taxed exactly the same federally as an LLC taxed as a sole proprietorship in California. The state choice only affects state-level taxes (income, franchise, sales) and where you have to register/file paperwork.

Can I form in one state and operate in another?

Yes, but you'll pay both states. If you form a Wyoming LLC but actually do business in California, California treats your Wyoming LLC as a foreign LLC and charges $800/year — PLUS Wyoming's $60/year annual report. You pay both. The "form in a cheap state" trick only works for true holding companies with no operations in your home state.