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Wyoming, Delaware and Florida come up again and again when people compare states for a new LLC. On state fees alone, Wyoming has the lowest yearly cost of the three, Delaware the highest, and Florida sits between them with a fixed annual report fee. Every figure below comes from the state's own fee page, help page or statute, linked next to it.
Side by side
| Wyoming | Delaware | Florida | |
|---|---|---|---|
| Fee to form an LLC | $100 (fee schedule) | $110 (fee schedule) | $125, a $100 filing fee plus a $25 registered agent fee (LLC fees) |
| Yearly report or tax | Annual report with a license tax of $60 or $0.0002 per dollar of Wyoming assets, whichever is greater (FAQ) | No report for LLCs; annual LLC tax of $400 (6 Del. C. 18-1107) | Annual report, $138.75 (LLC fees) |
| When it is due | Based on the anniversary month of formation (FAQ) | On or before June 1 each year (annual tax page) | On or before May 1 each year (annual report page) |
| If you are late | Dissolved if not filed within 60 days after the due date (FAQ) | $200 penalty, plus interest of 1.5% a month (annual tax page) | $400 late fee (annual report page) |
| Name reservation | $60 by mail, for 120 days (reservation form) | $75, for 120 days and renewable (fee schedule, statute) | $25, for 120 days (FAQ) |
| Registering an out-of-state LLC | $150 certificate of authority (fee schedule) | $200 foreign certificate of registration (fee schedule) | $125 (LLC fees) |
| Good standing certificate | Free online, $20 on paper (fee schedule) | $50 short form (certificates) | $5 certificate of status (certificates) |
These are state charges only. A registered agent service, if you use one, bills separately.
Wyoming
The Wyoming Secretary of State charges $100 for articles of organization. Each year the LLC files an annual report and pays a license tax. The state FAQ puts it plainly: "The tax is $60 or two-tenths of one mill on the dollar ($.0002), whichever is greater." The tax is based on assets located and employed in Wyoming, so an LLC with less than $300,000 of assets in Wyoming pays the $60 minimum.
The due date follows the month the LLC was formed. Missing it has a hard edge: "If the annual report is not filed within sixty (60) days following the due date, the entity will be administratively dissolved."
The $60 name reservation fee is from the state's reservation form. The current fee schedule does not list it, so confirm it before you file.
Delaware
Delaware charges $110 for a certificate of formation. Its LLCs do not file an annual report. Instead, Delaware law says each LLC "shall pay an annual tax, for the use of the State of Delaware, in the amount of $400." The Division of Corporations says these taxes "are due on or before June 1st of each year." Late payment costs a $200 penalty, and interest runs at 1.5% a month on the tax and the penalty.
One Delaware how-to page still shows an older, lower tax figure. The statute and the annual tax page both say $400, and that is the figure we use.
Investors and their lawyers know Delaware company law well, which matters most to corporations raising money. For a small LLC, the state fees are the clearer difference.
Florida
Florida charges $125 to form an LLC, made up of the $100 filing fee and a $25 fee for designating the registered agent. The annual report costs $138.75 and is due by May 1. Florida is strict about the date: "A $400 late fee will be imposed on all profit corporations, limited liability companies, limited partnerships and limited liability limited partnerships."
A Florida LLC makes the most sense when the business works in Florida. In that case it would have to register there anyway.
The question that decides it
The fee table only tells half the story. If your LLC does business in a fourth state, such as the one where you live, it will usually have to register there as a foreign LLC and pay that state's fees and yearly reports as well. Our foreign LLC registration guide explains the rule, and which state to form an LLC in walks through the choice.
For owners with no base in any state, such as many non-residents, the table above is a fair way to compare. For other low cost options, see the cheapest state to form an LLC and the full LLC fees by state table.
When you have picked a state, use the start form below to get the next steps and fees for it.