DELAWARE LLC VS. WYOMING LLC

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DELAWARE LLC VS. WYOMING LLC

Delaware LLC

Wyoming LLC

Delaware is best for big business. The Chancery Court is best for those businesses that are publicly traded.

Wyoming is for small business. Small and privately controlled companies are best served by a Wyoming LLC.

Delaware offers the series LLC when it’s better to have an LLC within an LLC. Most attorneys don’t know how to work with it. Those who do typically charge much more than $500 per hour.

Wyoming LLC filing fees, and lack of a franchise tax, allow for several LLC’s to be formed and operated when needed. Low cost, manageability, flexibility, and the focus on small business make it the top choice. Easy to understand.

Delaware copied from the Wyoming LLC Act.

WYOMING invented the American LLC in 1977, as it was modeled after the 1892 German company law known as Gesellschaft mit beschrnkter Haftung (GmbH). Nevada and Delaware copied Wyoming’s LLC and profited from it most through better marketing.

Delaware sells more LLC’s because of a stronger marketing engine and more incorporators. Delaware is best for large companies where the stock is traded on an exchange.

Wyoming only has almost 600,000 in their population and with a handful of incorporators. The state is low key and the residents have a great respect for property rights and asset protection. Again, their focus is on the small business.

COST

Delaware LLC

Wyoming LLC

Delaware filing fee for the LLC is $89.

Wyoming filing fee for the LLC is $100.

File an amendment $200

File an amendment $50

Restate articles of organization $200

Restate Articles $100

DELAWARE CHARGING ORDER PROTECTION:
Ask your Delaware attorney about the Delaware LLC:
DE 2016 Delaware Code, § 18-703. Member’s limited liability company interest subject to charging order.
(d) The entry of a charging order is the exclusive remedy by which a judgment creditor of a member or a member’s assignee may satisfy a judgment out of the judgment debtor’s limited liability company interest and attachment, garnishment, foreclosure or other legal or equitable remedies are not available to the judgment creditor, whether the limited liability company has 1 member or more than 1 member.

WYOMING CHARGING ORDER PROTECTION:
Ask your Wyoming attorney how a private creditor may not foreclose against your interest in a Wyoming LLC.

WY 17-29-503. Charging order.

(g) This section provides the exclusive remedy by which a person seeking to enforce a judgment against a judgment debtor, including any judgment debtor who may be the sole member, dissociated member or transferee, may, in the capacity of the judgment creditor, satisfy the judgment from the judgment debtor’s transferable interest or from the assets of the limited liability company. Other remedies, including foreclosure on the judgment debtor’s limited liability interest and a court order for directions, accounts and inquiries that the judgment debtor might have made are not available to the judgment creditor attempting to satisfy a judgment out of the judgment debtor’s interest in the limited liability company and may not be ordered by the court.

ANNUAL RENEWAL

Delaware LLC

Wyoming LLC

Annual Franchise Tax $200 ($100 fee if paid late)

Annual report $50

DELAWARE LLC RENEWAL $350

WYOMING LLC RENEWAL $100

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