Best State to Form an LLC: Wyoming, Florida or Delaware?

The short answer

Wyoming LLCs file an annual report by the first day of their anniversary month, with a license fee of $60 or two-tenths of one mill on Wyoming assets, whichever is greater.
Florida LLCs file an annual report between January 1 and May 1, for $138.75. A $400 late fee applies after May 1. Florida taxes corporations, and LLCs taxed as corporations, at 5.5%.
Delaware LLCs file no annual report but pay an annual tax by June 1: $300 for 2025, $400 from the 2026 tax year.
Forming in one state does not avoid obligations in the states where you actually do business.
With MyUSAService, three years with a Wyoming LLC cost $4,700 in total, with a Florida LLC $5,300 (prices as of September 2026).

Table of contents

The short comparison
Wyoming
Florida
Delaware
New Mexico
What the state of formation does not change
The three-year cost with MyUSAService
How to decide
Frequently asked questions

“Which state should I form my LLC in?” is usually the first question founders abroad ask. The honest answer: for most non-resident owners who sell online or provide services, the state of formation matters less than its yearly cost and its rules, and far less than where the business actually operates.

This guide compares the four states most often considered by international founders, with the official yearly costs and the total cost over three years.

The short comparison

	Wyoming	Florida	Delaware	New Mexico
Yearly state filing for LLCs	Annual report	Annual report	No report, annual tax	None historically, see below
Yearly state cost for a small LLC	$60 minimum license fee	$138.75	$300, then $400 from 2026	None historically
Deadline	First day of the anniversary month	January 1 to May 1	June 1	None
Typical fit	Low-cost holding or online business	Founders with activity or presence in Florida	Corporations raising investment	Minimal state filings

Figures for LLCs owned by one person with no local assets or employees. Registered agent fees come on top everywhere.

Wyoming

Wyoming law requires every LLC to file an annual report by the first day of its anniversary month, certifying the assets it holds in Wyoming. The license fee is $60 or two-tenths of one mill on the dollar of those assets, whichever is greater. An LLC with no assets in Wyoming pays the $60 minimum.

Wyoming does not levy a state income tax, which is one reason it is popular for online businesses run from abroad. It also does not ask LLCs to list their members in the public formation records.

The limit: Wyoming’s courts have less business case law than Delaware’s, which matters little for a small LLC and more for a company with investors.

Florida

Florida requires an annual report between January 1 and May 1. The fee is $138.75 for an LLC and $150 for a corporation, and a $400 late fee applies after May 1. Companies that still have not filed by the third Friday in September face administrative dissolution.

Florida has no personal income tax, but it does tax corporations, including LLCs that elect to be taxed as corporations, at 5.5% of Florida net income. An LLC taxed as a partnership files a Florida partnership information return instead.

Florida makes most sense if you plan to have a presence, clients or a team in the state.

Delaware

Delaware is known for its business court, the Court of Chancery, and for its long body of corporate case law. That is why investors and venture funds usually prefer Delaware corporations.

For LLCs, Delaware requires no annual report but charges a flat annual tax, due June 1 for the previous year. The tax is $300 for the 2025 tax year. House Bill 400 raised it to $400 from the 2026 tax year, so the first $400 payment is due June 1, 2027. Delaware corporations file an annual report and pay a franchise tax by March 1.

For a single founder with a small online business, Delaware is usually the most expensive of the four without a clear advantage. For a corporation planning to raise capital, it is often the default.

New Mexico

New Mexico is known for not requiring periodic reports from LLCs, which keeps ongoing state filings to a minimum and limits what appears in the public records. A 2024 reform of New Mexico’s LLC law may introduce a report every three years: check the current rule with the New Mexico Secretary of State before relying on this. Corporations in New Mexico are subject to a $50 annual franchise tax.

The limits are fewer specialized service providers and lower recognition among investors.

What the state of formation does not change

Where you do business. A company that has an office, employees or significant activity in another state usually has to register there as a foreign company, with that state’s fees and filings.
Sales tax. Sales tax obligations depend on where your customers are, not where the company was formed.
Federal obligations. Form 5472 for a foreign-owned single-member LLC, Form 1065 for a partnership, Form 1120 for a corporation: the IRS rules are the same in every state.
Other states’ taxes. California, for example, charges $800 a year to LLCs doing business there, wherever they were formed.

The three-year cost with MyUSAService

Prices as of September 2026. The Startup package costs $2,200 and includes the state fees for the first year in Florida and Wyoming. From the second year, the yearly renewal includes Form 5472 and the pro forma Form 1120, the registered agent and the state fee.

State	Year one	Years two and three	Three-year total
Wyoming	$2,200	$1,250 per year	$4,700
Florida	$2,200	$1,550 per year	$5,300
Delaware	Ask for a quote	$1,650 per year, including the $400 annual tax

For more on what these costs cover, see the hidden costs of a U.S. LLC.

How to decide

Online business or services run from abroad, one owner: Wyoming is usually the lowest-cost option.
Presence, clients or staff in Florida: Florida avoids registering in two states.
A corporation raising money from investors: Delaware.
Minimal state filings above all: New Mexico, after checking the current reporting rule.

Before choosing, compare your options for LLC or corporation tax treatment and the yearly compliance requirements.

Frequently asked questions

What is the best state to form an LLC as a non-resident?

For most founders abroad running an online business or services, Wyoming offers the lowest yearly state cost: a $60 minimum license fee. The best choice still depends on where the business operates and whether you plan to raise investment.

Is Delaware better than Wyoming for an LLC?

Delaware’s advantages are its business court and its reputation with investors, mostly relevant for corporations. For a small LLC owned by one person, Wyoming is usually cheaper: $60 minimum a year against Delaware’s $400 from 2026.

Do I pay state income tax in Florida with an LLC?

A Florida LLC taxed as a partnership or disregarded entity does not pay Florida corporate income tax. A corporation, or an LLC taxed as a corporation, pays 5.5% on Florida net income.

Does New Mexico require an annual report for LLCs?

Historically no. A 2024 reform may introduce a report every three years, so check the current rule with the Secretary of State.

Can I form in one state and do business in another?

Yes, but if you have offices, employees or significant activity in another state, you usually have to register there as a foreign company and meet that state’s obligations too.

Not sure which state is right for your LLC?

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Sources

First published May 8, 2025. This article is general information, not tax advice for your situation. MyUSAService packages and prices | Book a free call