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The main differences between Wyoming LLCs and Delaware LLCs are cost and reputation. Wyoming LLCs provide stronger privacy, stronger asset protection, and lower fees. Delaware LLCs are more expensive to maintain, but Delaware has the reputation of being home to Fortune 500 companies. Wyoming LLCs vs. Delaware LLCs | Which State is Best? wyomingllcattorney.com ? Form-a-Wyoming-LLC wyomingllcattorney.com ? Form-a-Wyoming-LLC
While there are no specific laws that make it more suitable for LLCs than other states, Delaware is the state of choice to incorporate because of their business-friendly corporate tax laws. There's a reason why 66.8% of all Fortune 500 companies choose Delaware as their incorporation state.
Wyoming does not levy state and business taxes on LLCs. This is helpful for Wyoming residents since they won't have to pay double taxes. Being one of the zero-income tax states, Wyoming remains appealing to many LLC owners. It also implements zero corporate tax, franchise tax, and stock tax.
A Wyoming LLC is anonymous if you want it to be. Wyoming does not require members or managers be listed, only the registered agent and person who files the paperwork. Every WY LLC we file is private. Creating an anonymous LLC in Wyoming is as simple as finding a registered agent willing to act as the organizer. Learn The Facts About Wyoming LLC Privacy wyomingllcattorney.com ? Privacy-and-Anonymity wyomingllcattorney.com ? Privacy-and-Anonymity
Generally, if you want the strongest protection, you should form your LLC in Delaware. The Delaware LLC is easy to maintain and allows for members to choose how the LLC is taxed. Delaware's reputation of protecting business owners from creditors is widely known by businesses of all sizes.
Wyoming requires an annual report for LLCs to be filed on the first day of the month in which the company is formed. The minimum fee due is $60 (with a $2 processing fee if paid online). Wyoming LLC Annual Fees & Requirements wyomingllcattorney.com ? Form-a-Wyoming-LLC wyomingllcattorney.com ? Form-a-Wyoming-LLC
Wyoming's charging order protection laws are effective for members to protect their LLC assets and ownership from creditors. However, that protection does not extend outside of Wyoming. Members living out of state will have to deal with different laws protecting their LLC assets from garnishment by creditors.