Wyoming vs. Nevada LLC Formation — 2026 Cost, Privacy & Protection Comparison

1. Compare ongoing annual costs: WY $60/yr vs. NV $550/yr — the headline differentiator Wyoming's annual obligation is the greater of $60 or $0.0002 × total WY-located assets (most small LLCs pay $60/yr minimum). Nevada's combined annual obligation is $550/yr ($350 Annual List + $200 Business License). Over 3 years: Wyoming ~$280 ($100 + 3×$60); Nevada ~$1,525 ($425 year 1 + 2×$550). Wyoming costs approximately $1,245 less than Nevada over 3 years. This is the single most important decision variable for formation-only LLC structures where cost is the primary driver.
2. Compare formation costs: WY $100 vs. NV $425 first-year Wyoming's one-time formation cost is $100 (Articles of Organization). Nevada's base Articles fee is $75, but the Initial List ($150) and State Business License ($200) are both due within 30 days of formation — making Nevada's true first-year formation cost $425. Wyoming is $325 cheaper to form in the first year despite having a $25 higher Articles fee.
3. Compare charging-order protection: WY statutory track record vs. NV post-Olmstead fix Wyoming's charging-order statute (Wyo. Stat. § 17-29-503) has provided charging-order-as-exclusive-remedy since 1977 — the longest statutory track record in the United States. Wyoming courts have consistently upheld this protection for both single-member and multi-member LLCs. Nevada enacted NRS § 86.401 after the 2010 Olmstead decision to explicitly codify the exclusive-remedy standard for both single-member and multi-member LLCs. Nevada's post-Olmstead fix is meaningful — it directly addressed the Florida Supreme Court's ruling that allowed creditors to foreclose on a single-member LLC. Both states provide strong charging-order protection; Wyoming's advantage is the longer judicial track record and original statutory strength; Nevada's advantage is a more recent explicit codification addressing the Olmstead gap.
4. Compare anonymity and privacy: WY vs. NV Wyoming: Articles of Organization require only the registered agent's address and organizer signature — member names are not disclosed at formation or in any annual filing. Wyoming is the gold standard for anonymous LLC formation. Nevada: Articles of Organization do not require member names (strong at formation stage). However, Nevada's Initial List of Managers or Members (filed within 30 days of formation) discloses manager names. For member-managed LLCs, this means member names appear publicly. For manager-managed LLCs with nominee managers, anonymity can be maintained. Wyoming provides cleaner structural anonymity without nominee arrangements.
5. Evaluate registered agent requirements Both states require a registered agent with a physical in-state address. Wyoming residents may self-serve; Nevada residents may self-serve. RA services in both states typically run $50–$150/yr. The marginal RA cost difference is small and rarely a deciding factor when the $490/yr ongoing cost difference ($550 NV vs $60 WY) dominates.
6. Compare court systems: WY Supreme Court vs. NV Supreme Court Neither Wyoming nor Nevada has a dedicated business court equivalent to Delaware's Court of Chancery. Wyoming's Supreme Court has upheld charging-order-as-exclusive-remedy for LLC membership interests consistently since the statute's 1977 enactment, building a reliable body of precedent for asset-protection structures. Nevada's Supreme Court has strong LLC jurisprudence on privacy and charging-order issues (particularly post-Olmstead). Both are strong jurisdictions for closely-held and asset-protection LLCs; neither is appropriate for investor-facing entities that need Delaware Court of Chancery credibility.
7. Factor in foreign qualification if operating outside the formation state Most WY and NV formation-only LLCs operate primarily in another state, triggering foreign qualification requirements there. Both WY and NV are used as formation-only states for this reason. Wyoming's $60/yr minimum Annual Report makes the dual-state carrying cost significantly lower than Nevada's $550/yr when combined with the operating state's annual fees. For a business foreign-qualifying in a state with a $100/yr annual obligation: WY total = $160/yr; NV total = $650/yr.
8. Choose your state and file Wyoming: file at sos.wyo.gov (Articles of Organization, $100). Wyoming wins for lowest ongoing cost ($60/yr), longest charging-order track record, and cleanest anonymity. Nevada: file at esos.nv.gov (Articles of Organization, $75) then file Initial List ($150) and Business License ($200) within 30 days. Nevada wins for post-Olmstead single-member LLC charging-order codification if you have actual Nevada nexus. For pure formation-only asset-protection at the lowest cost, Wyoming dominates. For businesses physically operating in Nevada, NV is the correct in-state choice.

Wyoming LLC Act, Wyo. Stat. § 17-29-101 et seq.; Wyoming charging-order statute: Wyo. Stat. § 17-29-503; Wyoming Annual Report: Wyo. Stat. § 17-29-209; Nevada Revised Statutes Ch. 86 (Limited Liability Companies); NRS § 86.401 (charging-order exclusive remedy, post-Olmstead fix); Nevada State Business License: NRS Ch. 76; IRS guidance on single-member LLC disregarded entity treatment.

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