Wyoming, USA vs Nevada, USA
Wyoming is £223 cheaper in year 1 and £243 a year cheaper after that.
| Wyoming, USALLCStart with Zenind | Nevada, USALLCStart with Zenind | |
|---|---|---|
| Costs | ||
| Minimum, year 1 | £144 | £367 |
| Minimum, per year after | £67 | £310 |
| Typical year 1 | £742 | £1,052 |
| Government fee | £77$100 Articles of Organization | £327$425 ($75 filing + $150 initial list + $200 business licence) |
| Indirect setup | £0–300 | £0–380 |
| Running per year | £67–962 | £310–1,300 |
| Share capital | None | None |
| Rules | ||
| Directors | No local directorYou need a registered agent in Wyoming. | No local directorYou need a registered agent in Nevada. |
| Remote setup | Fully remoteAn EIN for foreign owners takes 2 to 6 weeks. | Fully remoteAn EIN for foreign owners takes 2 to 6 weeks. |
| Audit | No audit | No audit |
| Time to form | 1 to 2 days (EIN extra) | 1 to 5 days (EIN extra) |
| Ease for foreign owners | 4/5 | 4/5 |
| Tax and banking | ||
| Corporation tax | 21%An LLC pays no entity tax, and Wyoming has no state income tax. | 21%An LLC pays no entity tax, and Nevada has no state income tax. Commerce Tax applies only above $4m revenue. |
| Dividend withholding | 30% dividend withholding, 15% for UK individuals. | 30% dividend withholding, 15% for UK individuals. |
| VAT / GST | 4%4% sales tax on sales in Wyoming. | 6.85%6.85% sales tax on sales in Nevada. |
| Banking | 3/5Mercury, Relay and Wise work remotely once you have an EIN. Traditional banks want a visit. | 3/5Mercury, Relay and Wise work remotely once you have an EIN. |
| All company setup fees in WyomingUse ZenindAd | All company setup fees in NevadaUse ZenindAd | |
Questions
Is Wyoming cheaper than Nevada for company setup?
Yes. Wyoming costs at least £144 in year 1, against £367 for Nevada.
Which is cheaper to run each year?
Wyoming, at least £67 a year against £310 for Nevada.
Which needs a local director?
Neither. You can run a company in either without a local director.
Which is faster to set up?
Wyoming, in 1 to 2 days (EIN extra). Nevada takes 1 to 5 days (EIN extra).
How does corporation tax compare?
Wyoming: An LLC pays no entity tax, and Wyoming has no state income tax. Nevada: An LLC pays no entity tax, and Nevada has no state income tax. Commerce Tax applies only above $4m revenue.
Sources: Wyoming Secretary of State · Nevada Secretary of State · Nevada Department of Taxation