(Wyoming) – The crew at Venture Smarter recently calculated several metrics to determine the best and worst places in the country to start a Limited Liability Company (LLC.)
According to their data, Wyoming is the best place for small business-minded / entrepreneurial-spirited folks. And frankly, it’s not even close.
According to Venture Smarter;
“Wyoming tops the rankings, receiving a score of 96.12 out of 100, the total LLC startup costs for the first year are $160 – making it the least expensive state to start up an LLC.
Wyoming’s tax climate index score is 78.33 out of 100, with an annual LLC fee of $60 and an LLC filling fee of $100. There are currently around 12,398 small businesses in Wyoming.
Entrepreneurs looking to setup an LLC in Wyoming do not need to pay LLC Agreement bid costs or advertising costs for publishing and certificate of publication.
Second in the study is Florida, scoring 80.95 out of 100. Whilst Florida’s tax climate index score is 65.59 out of 100, the state currently has around 13,370 small businesses.
Florida’s total LLC startup costs are a total of $264, with $125 of the LLC filling fee and $139 for the annual LLC fee.”
Many of Wyoming’s neighbors also did well. South Dakota ranks third, Montana forth, Colorado sixth, and Utah seventh.
Massachusetts, New Jersey, Delaware, New York and California ranked as the worst states.
“California is the worst state to set up an LLC. Scoring 18.46 out of 100, the total cost for the first year for an LLC in California is $1,950. California has 10,870 small businesses per 100K residents and a tax climate index score of 36.85.
The second worst state is New York, scoring 17.49 out of 100. Total LLC startup costs in New York are $1,985.”
