Wyoming vs Florida: Side-by-Side Comparison
Here's a comprehensive comparison of the two states across all key factors for non-resident LLC formation:
| Feature | Wyoming | Florida |
|---|---|---|
| Income Tax | None | None |
| Corporate Tax | None | 5.5% |
| Sales Tax | 4% | 6% |
| Annual Fee | $60 | $138.75 |
| Formation Fee | $100 | $125 |
| Privacy | No member/manager disclosure | Member/manager names public |
| Court System | Standard state courts | Standard state courts |
| Asset Protection | Strongest | Strong (tenancy by entireties) |
| Best For | Non-resident LLCs, asset protection, lowest cost | Entrepreneurs living in Florida, Latin American market |
Tax Comparison
Wyoming Taxes
- Personal Income Tax: None
- Corporate Tax: None
- Sales Tax: 4%
Florida Taxes
- Personal Income Tax: None
- Corporate Tax: 5.5%
- Sales Tax: 6%
For non-resident entrepreneurs with single-member LLCs treated as disregarded entities, state income tax typically only applies if you have income sourced within that state. If you have no in-state operations, employees, or customers, state income tax may not apply regardless of which state you form in.
Formation & Annual Costs
| Cost | Wyoming | Florida |
|---|---|---|
| Formation Fee | $100 | $125 |
| Annual Fee | $60 | $138.75 |
| Registered Agent (est.) | $100–$300/year | $100–$300/year |
| Estimated Year 1 Total | $310 (with RA) | $14150 (with RA) |
Privacy & Asset Protection
Wyoming
- Privacy: No member/manager disclosure
- Asset Protection: Strongest
- Court System: Standard state courts
Florida
- Privacy: Member/manager names public
- Asset Protection: Strong (tenancy by entireties)
- Court System: Standard state courts
The Verdict: Wyoming or Florida?
Wyoming is cheaper ($60 vs $138.75 annual) with better privacy and no corporate tax. Florida has a 5.5% corporate tax on C-corps. Wyoming is the clear winner for non-resident entrepreneurs unless you plan to live in or operate from Florida. Florida's advantage is its physical location, Latin American market access, and major airports.
Our Recommendation
Wyoming for non-residents; Florida if you plan to live/operate there
Remember that regardless of which state you form your LLC in, your federal tax obligations remain the same. All foreign-owned single-member LLCs must file Form 5472 and a pro forma Form 1120 annually, with a $25,000 penalty for non-compliance.
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