LLC State Cost Comparison

Compare annual costs across the most popular states for foreign-owned LLCs. Find the best value for your business.

Wyoming
Formation Fee $100
Annual Report $60
Franchise Tax $0
State Income Tax None
Registered Agent ~$50/yr
Annual Cost $110
New Mexico
Formation Fee $50
Annual Report $0
Franchise Tax $0
State Income Tax None for non-residents
Registered Agent ~$50/yr
Annual Cost $50
Delaware
Formation Fee $90
Annual Report $0
Franchise Tax $300
State Income Tax None for non-residents
Registered Agent ~$50/yr
Annual Cost $350
Florida
Formation Fee $125
Annual Report $138.75
Franchise Tax $0
State Income Tax None
Registered Agent ~$50/yr
Annual Cost $189

What to Consider When Choosing a State

Wyoming - Best Overall Value

Wyoming offers the best combination of low costs and business-friendly policies:

  • No state income tax
  • Strong privacy protections
  • Low annual fees ($60)
  • No franchise tax
  • Asset protection laws

New Mexico - Lowest Cost

New Mexico has the absolute lowest ongoing costs:

  • No annual report required
  • No franchise tax
  • Only $50 formation fee
  • Minimal compliance burden
  • Good for simple LLCs

Delaware - Best for Investors

Delaware is preferred if you're seeking investment:

  • VCs strongly prefer Delaware
  • Established business courts
  • Predictable legal environment
  • Easy to convert to C-Corp
  • Higher annual cost ($300+)

Florida - Good for LATAM

Florida makes sense for Latin American entrepreneurs:

  • Geographic proximity
  • Spanish-speaking resources
  • Strong banking options
  • No state income tax
  • Moderate annual costs