Comparison
New York LLC vs. Wyoming LLC — head to head
All figures verified against official state portals as of 2026-05-07.
| Factor | New York (NY) | Wyoming (WY) |
|---|---|---|
| Formation filing fee | $200 + $700–$2,000 mandatory publication (NYC) | $100 |
| Annual fee | $25/yr LLC filing fee (single-member) + $9 biennial | $60/year minimum Annual Report |
| First-year total cost | ~$975–$2,275 NYC (excl. RA service) | ~$160 (excl. RA service) |
| Ongoing annual cost | $25/yr LLC fee + $9 biennial + RA service (~$100–$150/yr) | $60 minimum Annual Report + RA service (~$50–$100/yr) |
| Online processing time | 7 business days standard; 24-hr expedited available ($25); 24-hour expedited processing for additional $25 via NY DOS | 3–5 business days; Same-day and 24-hour options available |
| State income tax | Yes | None |
| Franchise / gross receipts tax | No franchise tax. NY imposes state income tax (4%–10.9%) + NYC income tax (3.078%–3.876%) on LLC members' pass-through income. Annual LLC filing fee ($25–$4,500) based on member count. | No franchise tax and no state income tax. Annual Report fee ($60 minimum) is an administrative fee. |
| Name reservation | $20 for 60 days | $25 for 120 days |
| Publication requirement | Required | None |
| Annual report deadline | Annual LLC Filing Fee ($25–$4,500/yr based on members); Biennial Statement ($9 every 2 years); discloses manager/member names | Annual Report by anniversary month ($60 minimum — no member/manager disclosure required) |
| Filing portal | New York DOS — dos.ny.gov | Wyoming SOS — wyobiz.wyo.gov |
| Name search | NY name search | WY name search |
| Governing statute | New York Limited Liability Company Law, Article 2 | Wyo. Stat. § 17-29-101 et seq. |
NY: $200 filing + $700–$2,000 mandatory NYC publication (or $100–$200 upstate) + $25/yr LLC filing fee — total first-year NYC cost: $925–$2,225+. WY: $100 filing + $60/yr Annual Report, no publication, optional member anonymity. Wyoming saves $800–$2,100+ in year one for NYC-county LLCs. CRITICAL: NY businesses usually must form in NY regardless — NY taxes and the publication requirement apply even to foreign LLCs conducting business in NY.
New York annual obligations
What a New York LLC must file each year
- Due date
- Annual — due with the LLC's NY state income tax return
- Fee
- $25/yr LLC filing fee (single-member) + $9 biennial
- What to file
- Annual LLC Filing Fee ($25–$4,500/yr based on members); Biennial Statement ($9 every 2 years); discloses manager/member names
- Failure consequence
- Failure to pay results in penalties and interest. Fee ranges from $25 (single-member) to $4,500 (1,000+ members). Filed with IT-204-LL partnership return.
- Filing portal
- New York annual filing portal
Wyoming annual obligations
What a Wyoming LLC must file each year
- Due date
- Every 2 years, in the LLC's anniversary month
- Fee
- $60/year minimum Annual Report
- What to file
- Annual Report by anniversary month ($60 minimum — no member/manager disclosure required)
- Failure consequence
- $250 late fee for non-filing. Continued non-compliance results in suspension.
- Filing portal
- Wyoming annual filing portal
New York name rules
LLC name requirements in New York
- Required designators include LLC, L.L.C., or Limited Liability Company.
- Name must be distinguishable from existing NY entities.
- Name reservation: $20 for 60 days.
- Search at NY name search.
Wyoming name rules
LLC name requirements in Wyoming
- Required designators include LLC, L.L.C., or Limited Liability Company.
- Name must be distinguishable from existing WY entities.
- Name reservation: $25 for 120 days.
- Search at WY name search.
City-specific guides
New York and Wyoming LLC formation by city
State rules apply statewide; city guides cover local context and additional permits.
Registered agents
Registered agent requirements: New York vs. Wyoming
| Requirement | New York | Wyoming |
|---|---|---|
| Required | Yes | Yes |
| Who can serve | NY resident 18+ with in-state street address, or registered NY entity | WY resident 18+ with in-state street address, or registered WY entity |
| Self-serve allowed | Yes (address becomes public state record) | Yes (address becomes public state record) |
| Consent required | Consent or appointment captured in the formation filing | Consent or appointment captured in the formation filing |
| Commercial RA typical cost | $50–$150/yr | $50–$150/yr |
Decision framework
How to choose: New York vs. Wyoming LLC
-
Understand the #1 New York LLC surprise: the publication requirement Before comparing NY vs. WY costs, understand New York's mandatory newspaper publication requirement. Every LLC formed in — or registering to do business in — New York must publish a formation notice in two county-designated newspapers for 6 consecutive weeks within 120 days. In NYC counties (Manhattan, Brooklyn, Queens, Bronx, Staten Island), this costs $700–$2,000. In upstate counties: $100–$200. Many founders discover this after filing their Articles. It is not optional, not avoidable, and applies even to Wyoming LLCs that qualify in New York. Plan for this cost before choosing your formation state.
-
Compare year-one formation costs: NY $925–$2,225+ vs. WY $160 New York's year-one cost for a NYC-county single-member LLC: $200 (Articles) + $700–$2,000 (publication) + $50 (Affidavit) + $25 (LLC filing fee) = $975–$2,275. Wyoming's year-one cost: $100 (Articles) + $60 (Annual Report) = $160. Wyoming saves $815–$2,115+ in year one for NYC-based formations. For upstate NY founders: $200 + $100–$200 (publication) + $50 + $25 = $375–$475, vs. $160 for Wyoming. Wyoming still saves $215–$315 in year one for upstate formations.
-
Understand when Wyoming cannot replace New York formation If your business operates in New York — office, employees, customers, or significant NY revenue — you must register in New York regardless of formation state. A Wyoming LLC conducting business in NY must: (1) apply for authority to transact business in NY; (2) comply with NY's full publication requirement (same cost as domestic formation); (3) pay ongoing NY annual obligations. Wyoming formation does NOT allow NY-operating businesses to avoid NY's costs. For businesses that operate primarily in New York, forming in New York directly is the practical default — the dual-state overhead adds cost and complexity without saving money.
-
Identify who benefits from Wyoming formation over New York Wyoming formation is most compelling for: (1) Non-NY residents with no New York physical presence, operating a fully remote business or holding structure; (2) Asset-protection holding LLCs where Wyoming's exclusive charging-order statute (Wyo. Stat. § 17-29-503) is valued and there is no NY nexus; (3) Entrepreneurs who want maximum privacy — Wyoming's formation and annual filings require no member disclosure whatsoever, vs. New York's annual member name disclosure requirement; (4) Founders comparing the $60/yr WY Annual Report to the $25/yr+ NY LLC filing fee + $9 biennial for non-NY operators.
-
Compare anonymity: Wyoming wins decisively over New York Wyoming's Articles of Organization require only the LLC name, registered agent, and organizer signature — no member names. Wyoming's Annual Report requires no member/manager disclosure. New York's Annual LLC filing and Biennial Statement include registered agent and address disclosure; NY's Annual Report requires manager/member names — this becomes annual public record. For founders who want to keep their ownership private, Wyoming is dramatically more anonymous than New York. Wyoming is the preferred anonymity jurisdiction; New York is one of the most disclosure-heavy states.
-
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, force liquidation, or obtain management rights. New York's LLC Act provides charging-order protection under NY LLC Law, but New York has not adopted the exclusive-remedy language that Wyoming has. For asset-protection holding structures, Wyoming's statutory framework is significantly stronger.
-
Choose your state and file For NY-operating businesses: form in New York (dos.ny.gov, $200 filing) — budget for publication ($700–$2,000 NYC or $100–$200 upstate). You'll owe NY annual obligations and NY income tax on pass-through earnings regardless of formation state. For non-NY businesses, holding companies, or privacy-first formations: form in Wyoming (wyobiz.wyo.gov, $100). Wyoming saves $800–$2,100+ in year one for NYC-county businesses with no NY nexus, plus $60/yr ongoing vs. NY's ongoing state obligations. After formation, obtain an EIN at irs.gov/ein, draft an Operating Agreement, and open a business bank account.
Provenance
Statute basis & official sources
Last verified 2026-05-07.
New York Limited Liability Company Law (NY LLC Law); NY LLC Law § 206 (publication requirement); NY LLC Law § 417 (Operating Agreement requirement); New York Tax Law § 802 (annual LLC filing fee); 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.
Why you need an LLC (either state)
- In New York: forming an LLC and failing to publish within 120 days results in suspension — the LLC cannot conduct business or enforce contracts in NY courts until publication is completed and the Affidavit filed.
- Without entity formation, the business name is unprotected in both New York and Wyoming.
- Sole proprietors cannot elect S-corp tax treatment (available to LLCs), forfeiting potential thousands annually in reduced self-employment tax.
- Wyoming: failure to file the $60/yr Annual Report results in a $25 late penalty and eventual administrative dissolution.
FAQ
New York vs. Wyoming LLC — common questions
Should I form my LLC in New York or Wyoming?
It depends on where your business operates. If you have employees, an office, customers, or significant revenue in New York, you must register in New York regardless of formation state — a Wyoming LLC doing business in NY must comply with NY's publication requirement and annual obligations anyway. For businesses with no New York physical presence — fully remote, holding companies, or out-of-state operators — Wyoming ($100 formation + $60/yr, no publication) saves $800–$2,100+ in year one vs. NYC-county NY formation and provides stronger privacy and asset-protection.
What is New York's LLC publication requirement and how much does it cost?
New York LLC Law § 206 requires every LLC to publish a formation notice in two county-designated newspapers for 6 consecutive weeks within 120 days of formation. After publication, an Affidavit of Publication must be filed with the NY DOS. There is no waiver or exemption. Cost depends entirely on the county: NYC counties (Manhattan, Brooklyn, Queens, Bronx, Staten Island) publication runs $700–$2,000 per LLC. Upstate counties: $100–$200. This is the #1 New York LLC surprise — many founders discover it after they've already filed their Articles.
Can I form my LLC in Wyoming to avoid New York's publication requirement?
No — not if your business operates in New York. Any LLC (domestic or foreign) that registers to do business in New York must comply with NY's publication requirement under NY LLC Law § 802. Forming in Wyoming and then foreign-qualifying in NY means paying Wyoming's formation fees AND New York's full publication cost ($700–$2,000 in NYC). The publication requirement cannot be avoided for NY-operating businesses. Wyoming formation is only advantageous if the business genuinely has no New York nexus.
Does Wyoming formation eliminate New York income tax?
No. New York imposes state income tax (4%–10.9%) on New York-sourced pass-through income regardless of the LLC's formation state. NYC residents also owe NYC income tax (3.078%–3.876%) on their pass-through earnings. If you are a New York resident or your LLC earns income in New York, you owe NY income tax regardless of whether the LLC is formed in Wyoming. Wyoming's zero-income-tax advantage only benefits non-NY residents with no NY-sourced income.
Is Wyoming's LLC anonymity significantly better than New York?
Yes — dramatically better. Wyoming's formation documents and Annual Report require no member or manager names — only the LLC name, registered agent, and organizer signature. New York's annual filings require manager or member names, which become annual public record. For founders who want to keep their ownership private, Wyoming is the clear choice. New York is one of the highest-disclosure states in the US for LLC formation.
How does Wyoming's asset protection compare to New York's?
Wyoming's charging-order statute (Wyo. Stat. § 17-29-503) expressly declares the charging order as the EXCLUSIVE creditor remedy — a creditor cannot foreclose on the LLC interest, force liquidation, or obtain management rights. New York's LLC Act provides charging-order protection but does not declare it an exclusive remedy with Wyoming's statutory force. For asset-protection holding structures — holding real estate, investment accounts, or membership interests — Wyoming's explicit exclusive-remedy framework is the stronger protection.
What is Wyoming's Annual Report fee, and how does it compare to New York's ongoing costs?
Wyoming's Annual Report fee is the greater of $60 or $0.0002 × Wyoming-located assets — the $60 minimum applies to most small LLCs. New York charges a $25–$4,500/yr annual LLC filing fee (based on member count) plus a $9 biennial statement fee. For a single-member LLC: Wyoming $60/yr vs. New York $25/yr biennial statement + $25/yr LLC fee = $29.50/yr effective. Wyoming's annual cost is slightly higher for a single-member LLC with no NY nexus, but Wyoming provides no income tax, no disclosure requirement, and stronger asset protection. The real cost difference is formation year: $160 WY vs. $975–$2,275 NY (NYC).
§ A Building permits by city
§ B LLC formation guides
§ C Companion tools
Disclaimer: Informational only — not legal advice. LLC laws change; verify with a New York or Wyoming business attorney or CPA before filing.