Wyoming LLC vs Florida LLC: 2026 Comparison
By {AUTHOR_OPS_NAME}, Director of Filing Operations
Published May 15, 2026 | Last updated May 15, 2026
Wyoming and Florida are both popular LLC states with no state income tax, but they differ dramatically on single-member LLC asset protection. Florida's Olmstead v. FTC ruling created a critical gap in single-member protection that Wyoming's statute explicitly addresses. This comparison covers cost, privacy, asset protection, formation requirements, and when each state is the better choice.
Single-Member LLC Protection: The Critical Difference
The most important distinction between Wyoming and Florida for LLC formation is the treatment of single-member LLC interests in creditor disputes. In 2010, the Florida Supreme Court decided Olmstead v. Federal Trade Commission, 382 So.3d 1034 (Fla. 2010), holding that Florida's LLC Act did not prohibit a court from ordering a judgment debtor to surrender all right, title, and interest in a single-member LLC to satisfy a judgment. The court reasoned that the charging order provisions were not the exclusive remedy available to creditors of LLC members. This ruling effectively stripped single-member Florida LLCs of the asset protection that multi-member LLCs enjoyed. Florida subsequently amended its Revised LLC Act in 2013, but the amended statute at Florida Statutes § 605.0503 does not explicitly state that the charging order is the exclusive remedy for single-member LLCs. Wyoming takes the opposite approach. Wyoming Statute § 17-29-503(a) explicitly provides that a charging order is the exclusive remedy by which a judgment creditor of a member may satisfy a judgment, with no distinction between single-member and multi-member LLCs. This statutory clarity means Wyoming single-member LLCs receive the same charging order protection as multi-member LLCs.
Wyo. Stat. § 17-29-503(a); Fla. Stat. § 605.0503; Olmstead v. FTC, 382 So.3d 1034 (Fla. 2010)
Formation and Annual Cost Comparison
Wyoming has lower formation and maintenance costs than Florida. Wyoming's Articles of Organization filing fee is $100, payable to the Wyoming Secretary of State. Florida's Articles of Organization filing fee is $125, payable to the Florida Division of Corporations. Wyoming's annual report fee is $60 (or $60 minimum, as Wyoming charges $60 per $250,000 of assets located in Wyoming). Florida's annual report fee is $138.75. Over five years, a Wyoming LLC costs approximately $1,137 through CSF ($497 formation including registered agent year one, plus four years of $160 annual costs covering the $60 annual report and $100 registered agent renewal). A Florida LLC costs approximately $1,005 for formation and annual reports alone ($125 formation plus five years of $138.75 annual reports plus registered agent fees), potentially more with a commercial registered agent. The cost difference is modest, but Wyoming is consistently less expensive while providing superior asset protection. Neither state imposes a state income tax on LLC income, so the tax treatment is equivalent for pass-through entities.
Wyo. Stat. § 17-29-210; Fla. Stat. § 605.0212
Privacy and Public Records Comparison
Wyoming provides stronger privacy than Florida for LLC members. Wyoming does not require the disclosure of member or manager names on the Articles of Organization or the annual report filed with the Secretary of State. The only individual named on Wyoming LLC public filings is the registered agent and the organizer who signed the Articles of Organization. The organizer can be the formation service provider rather than the LLC owner. Florida requires the disclosure of the LLC's manager or managing member names on the Articles of Organization and annual report filed with the Division of Corporations. Florida is also a strong public records state under the Florida Sunshine Law, making corporate filings easily searchable online. For LLC owners who value privacy, whether for personal safety, competitive reasons, or general preference, Wyoming's approach is superior. The combination of no member disclosure on state filings and a registered agent address on public record (rather than the owner's personal address) provides a meaningful layer of privacy that Florida does not match for managed or manager-managed LLCs.
Wyo. Stat. § 17-29-201; Fla. Stat. § 605.0201
Side-by-Side Comparison Table
| Factor | Wyoming | Florida |
|---|---|---|
| Formation fee | $100 | $125 |
| Annual report | $60/year | $138.75/year |
| State income tax | None | None |
| Single-member protection | Charging order exclusive (§ 17-29-503) | Uncertain (Olmstead risk) |
| Multi-member protection | Charging order exclusive | Charging order exclusive |
| Member names on filing | Not required | Required (managers) |
| LLC statute enacted | 1977 (first in US) | 1982 |
| Series LLC | Available (§ 17-29-211) | Available (§ 605.0681) |
| Franchise tax | None | None |
Charging Order Protection: Why Exclusivity Matters
The charging order is the mechanism by which a judgment creditor of an LLC member can reach the member's interest in the LLC. When a charging order is the exclusive remedy, the creditor cannot force the LLC to liquidate, seize LLC assets directly, or take over management of the LLC. The creditor receives only distributions that the LLC chooses to make to the charged member's interest. If the LLC makes no distributions, the creditor receives nothing, though the creditor may owe income tax on the LLC's allocated income (the so-called "charging order tax trap"). Wyoming's statute at § 17-29-503(a) makes this protection explicit and applies it uniformly to all LLCs regardless of membership count. This statutory clarity creates a strong deterrent for creditors considering litigation against Wyoming LLC members, because even a successful judgment may yield no practical recovery. In Florida, after Olmstead, a creditor of a single-member LLC owner may seek and obtain a court order transferring the debtor's entire LLC interest, giving the creditor full control of the LLC and its assets. This fundamentally undermines the asset protection rationale for using a single-member Florida LLC.
Wyo. Stat. § 17-29-503; Fla. Stat. § 605.0503
When a Florida LLC Makes Sense
A Florida LLC is the appropriate choice when the LLC will conduct business exclusively in Florida and has multiple members. Multi-member Florida LLCs receive charging order protection under Florida Statutes § 605.0503, and the Olmstead risk applies primarily to single-member entities. If you are a Florida resident operating a multi-member business that transacts business only in Florida, forming locally avoids the complexity of maintaining a foreign LLC registration. A Florida LLC also makes sense when asset protection is not the primary concern, such as an active operating business where liability insurance provides the primary protection layer. Florida has a large and active business community, extensive local legal support, and familiarity among Florida courts with its own LLC statute. For Florida residents who operate single-member LLCs or who prioritize asset protection, a Wyoming LLC is the stronger choice even if it requires maintaining a Wyoming registered agent and potentially registering as a foreign LLC in Florida depending on the LLC's activities.
When Wyoming Is the Better Choice
Wyoming is the superior choice for single-member LLC owners who want maximum asset protection. The statutory exclusivity of the charging order under § 17-29-503(a), combined with the absence of the Olmstead risk, makes Wyoming the strongest domestic jurisdiction for single-member asset protection. Wyoming is also the better choice for holding companies, where the LLC holds real estate, investments, or other assets but does not conduct active business in any specific state. A Wyoming holding company LLC benefits from no state income tax, low annual costs ($60 annual report), strong charging order protection, and privacy (no member names on public filings). Florida residents who form Wyoming LLCs for out-of-state real estate or investment holdings typically do not need to register the Wyoming LLC as a foreign entity in Florida, because the LLC does not transact business in Florida. Wyoming is also preferable for privacy-conscious owners, because Wyoming does not disclose member or manager names on state filings while Florida requires manager disclosure on the annual report.
Wyoming vs Florida LLC: Frequently Asked Questions
Form a Wyoming LLC with single-member protection
$497 total. Wyoming registered agent included year one. Charging order protection for single-member and multi-member LLCs under § 17-29-503(a).
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