Which state is cheaper for an LLC: New York or Florida?

Over 5 years, Florida is cheaper with an estimated total cost of $875, compared to $988 for New York, saving you approximately $113.

Can I register in Florida if I live and work in New York?

You can form an entity in Florida, but if your principal residence or business operations are in New York, statutory nexus rules require you to register as a Foreign LLC in New York. In New York, the foreign filing fee is $250 plus annual foreign maintenance of $9/year.

2026 Head-to-Head Statutory Comparison

New York vs Florida LLC

Florida has 0% state income tax and no publication mandate; New York has progressive income taxes and an expensive Section 206 publication law.

5-Year Cost Verdict: Florida saves an estimated $113 over 5 years.

New York Model →Florida Model →

Direct Side-by-Side Fee Matrix

Statutory 2026 Fee Schedules

Metric	New York	Florida
Initial State Filing Fee	$200	$125
Annual Report Fee & Frequency	$9 (biennial)	$139 (annual)
Annual Franchise Tax	$25/yr	$0 / None
5-Year Estimated True Cost	$988	$875
Public Member Anonymity	Moderate	Public
Foreign Qualification Fee	$250 upfront ($9/yr)	$125 upfront ($139/yr)

The Reality of Forming Out-of-State

Operating in New York with a Florida LLC?

If you live or conduct physical business in New York and form in Florida, you must register as a Foreign LLC in New York. This means paying Florida's formation fee ($125) PLUS New York's foreign filing fee ($250) and two annual registered agent fees.