Wyoming LLC vs Florida LLC
Last updated July 2026
Wyoming LLC
The privacy-focused state with the lowest ongoing fees
Advantages
- $60 minimum annual report fee, lowest among LLC-friendly states
- Strong privacy: LLC members not disclosed on public filings
- No state income tax
- Strong charging order protection for single-member LLCs
- Formation fee $100
Drawbacks
- Foreign qualification required in Florida if you operate there
- Registered agent required in Wyoming
- Not investor-friendly
Florida LLC
No-state-income-tax home state for Florida operators
Advantages
- No state income tax
- Annual report fee $138.75
- No franchise tax on LLCs
- Florida residents skip registered agent fees
- No foreign qualification needed for Florida operations
Drawbacks
- Members listed on public filings (less privacy than Wyoming)
- Higher annual fee than Wyoming ($138.75 vs $60)
- Business courts less sophisticated than Delaware's
Wyoming and Florida both appeal to small business owners for different reasons. Wyoming has the lowest ongoing fees in the country ($60/yr) and strong member privacy. Florida charges $138.75/yr and lists members publicly but has no state income tax and doesn't require foreign qualification for Florida operators. Home state versus formation state economics usually decide it.
Feature Comparison
| Feature | Wyoming LLC | Florida LLC |
|---|---|---|
| Filing Fee | $100 initial filing | $125 initial filing |
| Annual Fee | $60 minimum annual report fee | $138.75 annual report |
| Privacy Level | Members not disclosed on public filings | Members and managers listed on public filings |
| Court System | Standard state courts | Standard Florida state courts |
| VC-Friendly | No | No |
| Foreign Qualification | Required in Florida if operating there | Required outside Florida |
| Asset Protection | Strong charging order protection for single-member LLCs | Standard LLC protections |
| Typical Annual Cost | About $200-$400/yr including registered agent + fee | About $200-$300/yr for Florida residents (no registered agent needed) |
Too Close to Call
Wyoming wins for non-Florida owners who value privacy and lower fees. Florida wins for Florida residents operating in Florida who benefit from no state income tax and skip registered agent fees.
For a Florida resident operating in Florida, forming a Wyoming LLC costs $60 Wyoming fees plus $50-$300 Wyoming registered agent plus Florida foreign qualification (about $125+$138.75). The Florida-only path is cheaper and simpler. Wyoming wins when you're not a Florida operator and specifically want privacy on public filings, especially for holding LLCs.
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