Wyoming LLC vs Mississippi LLC (2026)
Written for owners based in Wyoming.
Verdict: for most owners, form where the business is based
Mississippi forms an LLC for $50 and charges nothing for the domestic annual report, which is filed online and due April 15. That free report applies only to domestic LLCs: a foreign LLC registered in Mississippi pays $250 to register and $250 again every year. Wyoming costs $100 to form, then an annual report license tax with a $60 minimum that becomes 0.02% of Wyoming assets above $300,000. Since a Mississippi LLC trading from Wyoming needs a $150 registration here, the direction of travel matters more than the filing fee.
Based in Mississippi? Read Mississippi LLC vs Wyoming LLC →
Compare Wyoming LLC vs Mississippi LLC on filing fees, taxes, privacy laws, and annual costs. Find out which state is actually better for your business.
By Edmond Hui · Last updated: October 5, 2026
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| Factor | Wyoming | Mississippi |
|---|---|---|
| Filing Fee | $100 | $50 |
| Processing Time | Instant online; up to 15 business days paper | Same day (online) |
| Annual Report Fee | $60 | $0 |
| Annual Report Due | First day of anniversary month | April 15 |
| State Income Tax | No | Yes |
| Anonymous LLC | Yes | No |
| Publication Requirement | No | No |
| Foreign LLC Cost (if forming out-of-state) | N/A, you're in your home state | $150 + registered agent ~$150/yr |
Full fee breakdown for either state: Wyoming LLC cost and Mississippi LLC cost. Owner privacy options for either state: Wyoming anonymous LLC guide and Mississippi anonymous LLC guide.
Business Climate: Wyoming vs Mississippi
| Factor | Wyoming | Mississippi |
|---|---|---|
| 5-year business survival rate | 47.5% (#42 of 51) | 53.5% (#15 of 51) |
| Business application growth (2026 YTD (Jan to Jul) vs 2025 YTD (same months)) | +13.3% YoY (#22 of 51 by volume) | +29.5% YoY (#32 of 51 by volume) |
Sources: U.S. Bureau of Labor Statistics, Business Employment Dynamics · U.S. Census Bureau, Business Formation Statistics (BFS)
Compare LLC Costs: Wyoming vs Mississippi
Wyoming
Mississippi
A figure shown as "from" is the least the state can charge, not a price. Tennessee's report is $300 for up to six members and $50 for each member above six, its franchise tax is the greater of $100 or 0.25% of Tennessee net worth, Wyoming's report is the greater of $60 or $.0002 per dollar of in-state assets, Kentucky's entity tax is $175 up to $3 million of gross receipts and graduated above it, and New York's annual filing fee is graduated on New York source gross income. A total that contains one of those is shown as "from" for the same reason. Costs include every mandatory state charge: the filing fee, the report fee (annualised where a state files biennially), any state entity-level tax shown in its own row above, a one-time publication cost where the state publishes a rate for it, and any one-time registration charge a state requires before the LLC may trade. Two exclusions follow from that wording. Arizona and Nebraska require publication and publish no rate, so no newspaper cost is carried for either and their totals are not the whole cost. Alaska's $50 annual state business licence is a separate charge from the Secretary of State fees and is not carried here either. Annualising makes the 1, 3 and 5 year rows a cost of ownership rather than a payment schedule: a biennial state charges its whole report fee in the years it falls due and nothing in between. Entity-level taxes that only apply after a corporate election, or above an owner or income threshold, are excluded and flagged on the state's own cost page. New York's publication cost is carried at a $250 floor, roughly $200 of newspaper cost in a low-cost county plus the $50 Certificate of Publication fee. No county-clerk-designated New York City newspaper publishes a rate card, so the four-figure NYC estimates in wide circulation cannot be traced to a primary source and are not asserted here; budget for materially more than the floor if you file in a NYC county. Every fee was verified against the state's own fee schedule, statute, or revenue authority on 29 July 2026. Excludes registered agent and legal fees. For informational purposes only, not legal or tax advice.
Filing Fees & Formation Costs
Wyoming charges $100 to form an LLC, while Mississippi charges $50. Mississippi is $50 cheaper upfront. The cost that usually gets overlooked: if you form in Mississippi but operate in Wyoming, you must also register as a foreign LLC in Wyoming (a $150 filing) and maintain a registered agent in Mississippi (typically around $150 per year). That puts the realistic first-year cost of the Mississippi route at roughly $350, versus $100 for simply forming in Wyoming. Both states publish a standard turnaround, Wyoming (instant online; up to 15 business days paper) and Mississippi (same day, online), though a published figure is a norm, not a guarantee.
Taxes: Wyoming vs Mississippi
Wyoming has no personal income tax, while Mississippi taxes individual income. Since pass-through LLC profits are taxed where you live and operate, a Wyoming-based owner keeps Wyoming's no-income-tax benefit either way. Forming in Mississippi adds no tax advantage. Mississippi taxes individual income at a flat 4.0% on taxable income over $10,000 for tax year 2026 (down from 4.4% in 2025); the 2025 'Build Up Mississippi Act' schedules further phase-down toward eventual elimination, subject to revenue triggers. Wyoming charges an annual report license tax of $60 minimum ($62 filed online), based on in-state assets; no franchise or privilege tax otherwise. No franchise or privilege tax on a default LLC (Mississippi's corporate franchise tax reaches an LLC only if it is taxed as a corporation, and none is levied for tax years beginning on or after January 1, 2028); note the foreign LLC annual report carries a $250 fee while the domestic LLC annual report is $0.
Privacy & Asset Protection
Wyoming, your home state, actually offers more formation privacy than Mississippi: Wyoming allows anonymous LLC formation, while Mississippi requires owner or manager information on public filings. The Certificate of Formation doesn't list members, but Mississippi's mandatory annual report requires the names and business addresses of managers (if manager-managed) or the name and address of at least one member (if member-managed), plus principal officers if any. Both states provide charging-order protection for LLC members, and for most small businesses the practical difference in asset protection between the two is minimal. Wyoming's charging-order law makes the charging order a creditor's exclusive remedy (including for single-member LLCs) and is widely regarded as the strongest in the country. From a privacy standpoint there's no reason for a Wyoming-based business to form in Mississippi.
Annual Maintenance Costs
Wyoming LLCs file an annual report (at least $60, due in the anniversary month), and Mississippi LLCs file a free annual report (due April 15). If you form in Mississippi while operating in Wyoming, you maintain filings in both states, Mississippi's report plus Wyoming's equivalent for your foreign registration, and pay a Mississippi registered agent roughly $150 per year. Counting report fees, the agent and any entity-level tax, that brings the Mississippi route to roughly $210 a year, versus at least $60 to keep a domestic Wyoming LLC in good standing. The taxes inside those totals: Wyoming charges an annual report license tax of $60 minimum ($62 filed online), based on in-state assets; no franchise or privilege tax otherwise. No franchise or privilege tax on a default LLC (Mississippi's corporate franchise tax reaches an LLC only if it is taxed as a corporation, and none is levied for tax years beginning on or after January 1, 2028); note the foreign LLC annual report carries a $250 fee while the domestic LLC annual report is $0.
When Mississippi Actually Makes Sense
Forming in Mississippi makes sense in a few specific situations: your business genuinely operates in Mississippi, with a real office, employees, or property there, or you're relocating to Mississippi in the near future and accept taking on Mississippi's personal income tax, which Wyoming doesn't levy. For a typical small business based in Wyoming, none of these usually apply. Registering a Mississippi LLC to do business back home means $150 in Wyoming foreign-registration fees, on top of Mississippi's $50 formation fee, while Wyoming's own annual report runs at least $60 a year and is due in the anniversary month. Wyoming already allows anonymous formation, so the privacy argument for Mississippi doesn't apply to a Wyoming-based owner. When in doubt, form where you actually do business.
Frequently Asked Questions
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Sources
Each entry below is a document recorded in our verified sources, and each entry says what the document is. Some statutory text is read from an accurate mirror rather than from the state's own host, and those say so. Where we hold the citation but no stable public link, the citation is printed on its own rather than pointed at a guessed address.
- Mississippi statute: Miss. Code § 79-29-215 (annual report contents)
- Wyoming statute: W.S. 17-29-503 (charging order protection)
- Mississippi bill: HB 1 (Build Up Mississippi Act)
- sos.wyo.gov/Business/Default.aspxWyoming Secretary of State: business entity filings
- sos.wyo.gov/Business/docs/BusinessFees.pdfWyoming LLC filing fees
- sos.ms.gov/business-servicesMississippi Secretary of State: business entity filings
- sos.ms.gov/content/documents/Business/FeeSchedule.pdfMississippi LLC filing fees
Edmond Hui · Founder, MyStateLLC
Edmond Hui is a software engineer and serial entrepreneur based in New York who has founded multiple online businesses across e-commerce, media, and information publishing. Before transitioning into tech, he spent years as a commercial real estate professional closing deals totaling over 100,000 square feet, giving him firsthand experience with business formation and entity structuring. He built MyStateLLC to provide the free, state-specific LLC guidance he wished existed when forming his own companies.