Delaware and Wyoming are both known to be great for small businesses. Which one to choose for your new company depends solely on your priorities. For LLC type companies, Wyoming will be the choice of those who prioritize lower annual fees. If you don’t have any assets, Wyoming takes as little as $50 annually to maintain your corporate existence within the State.
Delaware, on the other hand, will charge you $300 for Franchise Taxes annually regardless of the company assets. There is no sales tax in Delaware, which means saving up on a lot of money which otherwise would be spent on taxes. In addition to all that, if you prioritize your privacy and security, you will love Delaware’s business-friendly laws. Your name and address will not be a part of the public records, and you will not have any liabilities over your company’s damages, losses, costs and expenses.
