Florida vs. Wyoming LLC Formation — 2026 Cost, Privacy & Tax-Free State Comparison

1. Compare formation fees: FL $125 vs. WY $100 Florida's $125 formation fee is $25 more than Wyoming's $100. The difference is modest upfront — the more meaningful comparison is in ongoing annual costs and disclosure requirements. Both states are among the lowest-cost jurisdictions for LLC formation in the US.
2. Compare annual costs: FL $138.75/yr vs. WY $60/yr minimum Florida's Annual Report is $138.75/yr (due by May 1 each year). Wyoming's Annual Report is $60/yr minimum. Wyoming saves ~$78.75/yr in ongoing annual fees. Over 5 years: Florida ~$819 ($125 + 5×$138.75) vs. Wyoming ~$400 ($100 + 5×$60). Wyoming is approximately $419 cheaper over 5 years. Over 10 years: Wyoming saves roughly $887.
3. Understand the privacy difference: FL discloses members, WY does not Florida's Annual Report requires disclosure of manager and member names — this becomes searchable public record via the Sunbiz portal. Wyoming's Annual Report requires no member or manager disclosure. Wyoming's Articles of Organization also require no member names. For founders who want to keep their ownership private, Wyoming is dramatically more private than Florida. FL's lack of anonymity is its primary disadvantage compared to Wyoming for non-FL operators.
4. Compare the no-income-tax advantage: both states win, but for different reasons Both Florida and Wyoming have no state personal income tax. Neither state taxes LLC pass-through earnings at the state level. This is often cited as FL's key advantage over high-tax states — but Wyoming matches this advantage exactly. For founders comparing FL vs. WY on tax grounds alone, both states deliver the same benefit. The differentiators are privacy (WY wins), annual cost (WY wins by ~$79/yr), and where the business actually operates.
5. Compare charging-order asset protection: Wyoming is stronger Wyoming's charging-order statute (Wyo. Stat. § 17-29-503) expressly declares the charging order as the EXCLUSIVE creditor remedy against an LLC interest — a creditor cannot foreclose on the membership interest, force liquidation, or obtain management rights. Florida's LLC Act provides charging-order protection under Florida Statutes § 605.0503, but Florida's protection is not as explicitly developed as Wyoming's exclusive-remedy framework. For asset-protection holding structures, Wyoming is the stronger jurisdiction.
6. Understand when Florida formation is the right choice Florida formation makes most sense when: (1) your business physically operates in Florida — employees, office, customers, or significant FL revenue. If you have FL nexus, foreign-qualifying a Wyoming LLC in Florida triggers FL's $125 application fee + $138.75/yr Annual Report — same or more than domestic FL formation. Forming in FL directly saves the WY $100 formation + FL foreign registration. (2) You value FL's strong Sunbiz online portal, faster same-day processing, and broad recognition of FL LLCs in FL banking and commerce.
7. Choose your state and file For FL-operating businesses: form in Florida (sunbiz.org, $125) — you'll owe FL's $138.75/yr Annual Report either way if you have FL nexus. For non-FL businesses, holding companies, or privacy-first formations: form in Wyoming (wyobiz.wyo.gov, $100). Wyoming saves ~$79/yr in annual fees and provides full member anonymity, no member disclosure in Annual Reports, and the strongest charging-order statute in the US. After formation, obtain an EIN at irs.gov/ein, draft an Operating Agreement, and open a business bank account.

Florida Revised LLC Act, Florida Statutes Chapter 605; FL charging-order: § 605.0503; FL Annual Report: § 605.0212; Wyoming Limited Liability Company Act, Wyo. Stat. § 17-29-101 et seq.; Wyoming charging-order: Wyo. Stat. § 17-29-503; Wyoming Annual Report: Wyo. Stat. § 17-29-209.

FAQ

Florida vs. Wyoming LLC — common questions