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

Over 5 years, Wyoming is cheaper with an estimated total cost of $535, compared to $988 for New York, saving you approximately $453.

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

You can form an entity in Wyoming, 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 Wyoming LLC

New York mandates an expensive Section 206 newspaper publication requirement ($300-$1,200+); Wyoming has zero publication requirements.

5-Year Cost Verdict: Wyoming saves an estimated $453 over 5 years.

New York Model →Wyoming Model →

Direct Side-by-Side Fee Matrix

Statutory 2026 Fee Schedules

Metric	New York	Wyoming
Initial State Filing Fee	$200	$100
Annual Report Fee & Frequency	$9 (biennial)	$60 (annual)
Annual Franchise Tax	$25/yr	$0 / None
5-Year Estimated True Cost	$988	$535
Public Member Anonymity	Moderate	High (Anonymous)
Foreign Qualification Fee	$250 upfront ($9/yr)	$150 upfront ($60/yr)

The Reality of Forming Out-of-State

Operating in New York with a Wyoming LLC?

If you live or conduct physical business in New York and form in Wyoming, you must register as a Foreign LLC in New York. This means paying Wyoming's formation fee ($100) PLUS New York's foreign filing fee ($250) and two annual registered agent fees.