A Wyoming LLC can stay anonymous when a third party files as organizer and the members are not listed on public records. Wyoming does not require member disclosure in the Articles of Organization, so the state database shows only the registered agent and organizer.
A founder in Laramie, deciding between Wyoming, Nevada, and Delaware for a single-member privacy-prioritized holding LLC, sat across from three different formation services last quarter and got three different recommendations. Each service recommended its own "specialty state." None showed her the year-two cost. None compared the actual public-disclosure rules. This article is the version with all three columns filled in honestly.
Table of Contents
- The 60-second comparison table
- What "anonymous LLC" actually means
- Wyoming privacy mechanics
- Nevada privacy mechanics (and the bearer-share myth)
- Delaware privacy mechanics
- Cost comparison (year one and recurring)
- Charging-order protection comparison
- Tax comparison (state and federal)
- When Nevada wins
- When Delaware wins
- When Wyoming wins (most of the time)
- FAQ
The 60-second comparison
| Feature | Wyoming | Nevada | Delaware |
|---|---|---|---|
| Year-one state cost | $100 | $425 | $90 |
| Recurring annual state cost (minimum) | $60 | $350 | $300 |
| Member disclosure on public Articles | Not required | Not required | Not required |
| Manager disclosure on public Articles | Optional | Required (Initial List) | Optional |
| Charging-order: single-member | Sole remedy (statute) | Sole remedy (NRS § 86.401) | Sole remedy (Del. Code § 18-703) |
| State income tax | None | None | None for non-resident-owned LLCs not doing business in DE |
| Franchise tax | None | None | $300 flat (June 1 deadline) |
| Court of Chancery (specialized business court) | No | No | Yes |
| Best fit | Privacy-prioritized, asset-protection, holding companies, real estate stacks | Operators living in or doing business in NV; multi-state bundled clients | VC-track startups, Series LLC sophistication, Chancery-Court-required disputes |
What "anonymous LLC" actually means
"Anonymous LLC" is a marketing phrase. The technical claim it stands for is: "The state's public business database does not show the member names." That is true in all three states (Wyoming, Nevada, Delaware), with the structural variations described below.
What "anonymous LLC" does NOT mean:
- It does not mean federal disclosure regimes do not apply. (FinCEN BOI applied to most LLCs from 2024 to 2025; the March 21, 2025 IFR removed US-domestic LLCs from the requirement. The federal regime is independent of state-level disclosure.)
- It does not mean the IRS does not know who you are. The EIN responsible-party data is on file with the IRS regardless of state.
- It does not mean your bank does not know who you are. Customer Identification Program (CIP) rules under the USA PATRIOT Act require banks to verify beneficial ownership for account opening regardless of state of formation.
- It does not mean court discovery cannot reach the operating agreement. A subpoena or a deposition of the registered agent can produce the OA in litigation.
Anonymous LLC is a state-database privacy mechanism that prevents casual lookup, employer screening, vendor due-diligence services, and aggregator background checks from surfacing the member names. That is a meaningful protection for the first 80% of "people who Google your company name." It is not a federal-disclosure shield, a banking shield, or a litigation shield.
Wyoming privacy mechanics
Wyoming requires the following on the Articles of Organization (W.S. § 17-29-203):
- Entity name
- Registered agent name and Wyoming street address
- Mailing address
- Principal office address
- Organizer name and address
- Effective date
NOT required: member names, manager names, percentage ownership, capital contributions, operating agreement.
When a third-party formation service (us, or another Wyoming-domiciled service) files as the organizer, the only natural-person name on the public Articles is the registered agent's authorized representative and the organizer (the formation service's filer). The member's name does not appear anywhere in the public state record.
The Wyoming annual report (W.S. § 17-29-209) requires:
- Entity name
- Mailing address
- Principal office address
- Wyoming-situs assets value
- Registered agent name and address
- Filer name (can be a third party again)
NOT required on the annual report: member names, percentage ownership.
The result: the Wyoming Secretary of State business search shows the entity, the registered agent, and the principal address. Member identity is not in the public file at any point.
Nevada privacy mechanics (and the bearer-share myth)
Nevada requires the Articles of Organization to identify the entity, registered agent, and (depending on management structure) the manager or member-manager. Nevada also requires an annual "Initial List" / "Annual List" that names officers, directors, and managers (NRS § 86.263).
So while members of a Nevada LLC are not required on the Articles, the manager-managed structure (which is the default for many Nevada LLC formations) DOES require disclosure of the manager's name on the Initial List. If you choose member-managed, the member-managers' names are disclosed.
The "Nevada bearer share" myth is dead and was dead before NRS abolished bearer instruments. The myth claimed that Nevada LLCs could issue "bearer interests" similar to bearer bonds, allowing untraceable ownership transfer. NRS does not authorize this for LLCs and never did meaningfully. If you read marketing copy from 2010-2015 promoting Nevada bearer shares, the marketing copy is wrong as a matter of current Nevada law.
Practical Nevada privacy for the privacy-prioritized founder: form member-managed with a Wyoming or out-of-state registered agent service that files as the manager (yes, you can structure this), and the Initial List shows only the entity-manager. This is more architectural friction than the Wyoming default, where there is nothing to architect around because nothing is required.
Delaware privacy mechanics
Delaware Articles of Organization (Certificate of Formation under Del. Code tit. 6, § 18-201) require minimal information:
- Entity name
- Registered agent name and Delaware street address
- (Optional) Effective date
NOT required: member names, manager names, principal address, organizer name.
Delaware does not require an annual list of officers or members. The annual filing is the $300 LLC franchise tax (June 1 deadline), which is a flat fee paid to the Delaware Division of Corporations and does NOT include member or manager disclosure.
Delaware's public Certificate of Formation is the most minimal of the three states. The state database shows only the entity name, registered agent, and incorporation date. Even the principal address is not required.
The catch: Delaware imposes a $300 flat franchise tax annually regardless of revenue or asset value. For a small holding LLC, this is more expensive than Wyoming's $60 minimum annual report. The Delaware fee is fixed; the Wyoming fee is asset-based and starts at $60.
Cost comparison
| Cost item | Wyoming | Nevada | Delaware |
|---|---|---|---|
| State filing fee (year one) | $100 | $75 | $90 |
| Initial List filing fee (year one) | N/A | $150 | N/A |
| Initial business license (year one) | N/A | $200 | N/A |
| Year-one state total | $100 | $425 | $90 |
| Annual report / list | $60 (asset-based, $60 minimum) | $150 | $0 |
| Franchise tax | $0 | $0 | $300 |
| Business license renewal | $0 | $200 | $0 |
| Recurring annual state cost | $60 | $350 | $300 |
Add $99/year for our registered agent service in any state where we operate. Add typical operating-agreement drafting cost ($0 for DIY template, $400 to $700 for boutique attorney work). Add tax preparation cost (varies by entity complexity).
True year-one out-of-pocket for a Wyoming privacy-prioritized LLC with our service: $199 to $899. Recurring annual: $159 to $409.
True year-one for the same in Nevada: $524 to $1,224. Recurring annual: $449 to $699.
True year-one for the same in Delaware: $189 to $889. Recurring annual: $399 to $649.
Charging-order protection comparison
All three states have charging-order statutes treating the charging order as the sole remedy. Wyoming W.S. § 17-29-503, Nevada NRS § 86.401, Delaware Del. Code tit. 6, § 18-703 all use exclusive-remedy language for member interests.
The single-member nuance:
- Wyoming: statute does not distinguish; exclusive-remedy treatment applies to single and multi-member alike.
- Nevada: statute treats single-member protection as exclusive remedy; case law has not materially undermined this.
- Delaware: statute (§ 18-703) is exclusive-remedy; case law has been favorable.
All three states are stronger than Florida, where Olmstead v. FTC, 44 So. 3d 76 (Fla. 2010), held the single-member exclusive remedy doctrine inapplicable, and the legislature codified the limitation in Fla. Stat. § 605.0503.
For pure charging-order protection, all three states are roughly equivalent. The differentiators are cost (Wyoming wins), depth of case law (Delaware wins), and tax simplicity (Wyoming and Nevada tie; Delaware loses on the $300 franchise tax).
Tax comparison
State income tax: none in all three states for the LLC itself.
Franchise tax: Wyoming none; Nevada none on LLCs (corporations have a Modified Business Tax, LLCs do not); Delaware $300 flat annual.
Business license: Wyoming none; Nevada $200 annual; Delaware none.
Federal pass-through tax treatment: identical in all three states. Single-member disregarded, multi-member partnership, S-corp election available to qualifying entities.
State of residency tax: regardless of state of formation, the owner pays their home state's income tax on pass-through income from the LLC. Swart Enterprises, Inc. v. FTB, 7 Cal.App.5th 497 (Cal. Ct. App. 2017), is the leading case on what passive ownership of an out-of-state LLC does and does not trigger for a California resident.
When Nevada wins
- You live in Nevada or do business in Nevada. The state where you actually operate is usually the right state to form (foreign LLC qualification is more expensive than home-state formation).
- You want bundled multi-state pricing through a service like Northwest Registered Agent, and Nevada is one of the bundled states.
- You have a specific need for Nevada's gaming-industry, mining-industry, or specific NRS-cited statutory provisions.
For most other use cases, the Nevada cost premium ($350+/year vs $60 in Wyoming) is not justified by any structural advantage Nevada offers that Wyoming does not.
When Delaware wins
- VC-track startups planning to convert the LLC to a Delaware C-corp later. Delaware is the standard incorporation state for venture-backed companies. Forming the LLC in Delaware avoids a later cross-state conversion.
- High-stakes commercial disputes that need the Delaware Court of Chancery's specialized business jurisdiction. Chancery has the deepest LLC case law in the US and handles complex commercial matters efficiently.
- Series LLC sophistication. Delaware's Series LLC statute (Del. Code tit. 6, § 18-215) is the most-developed Series LLC framework, and the 2026 amendments (registered series and protected series) added structural clarity. (See our /delaware/blog/delaware-series-llc-real-estate/ pillar.)
- Public benefit LLC (Del. Code tit. 6, § 18-1201 et seq.). Delaware is the leading state for public-benefit LLC structures.
For privacy-only, asset-protection-only, or holding-company use cases, Delaware's $300 franchise tax is harder to justify than Wyoming's $60 annual report.
When Wyoming wins (most of the time)
- Single-member privacy-prioritized founders. Wyoming's exclusive-remedy treatment for single-member LLCs combined with no public member disclosure makes it the lowest-friction option for the privacy use case.
- Asset-protection holding companies. The Wyoming parent + state-level child structure is the standard real estate investor architecture (see our /wyoming/blog/wyoming-holding-company-complete-guide/ pillar).
- Cost-conscious solo founders. $159 to $409 recurring annual cost is the lowest of the three by a meaningful margin.
- Non-resident owners. Wyoming has the deepest population of registered-agent and formation services that work with non-residents as a regular line of business.
- Real estate investors with multi-state portfolios. Wyoming as the parent, state-level children for property states, is the standard parent-child architecture.
FAQ
Is a Wyoming LLC really anonymous?
A Wyoming LLC can stay anonymous when a third party files as organizer and the members are not listed on public records. Wyoming does not require member disclosure in the Articles of Organization, so the state database shows only the registered agent and organizer. State-level anonymity is not a federal disclosure shield (FinCEN BOI is a separate question, currently not required for US-domestic LLCs under the March 2025 IFR) and is not a banking shield (CIP rules under the USA PATRIOT Act apply regardless).
Why is Wyoming cheaper than Nevada and Delaware?
Wyoming's annual report fee is asset-based with a $60 minimum (W.S. § 17-29-209). Nevada charges $150 annual list plus $200 business license = $350/year. Delaware charges a flat $300 franchise tax. Wyoming has no business license requirement and no franchise tax. The cost differential compounds over the LLC's life.
Does Delaware's Court of Chancery matter for a small LLC?
Usually no. Chancery is a specialized business court that handles complex commercial disputes efficiently and develops authoritative case law. For a single-member holding LLC with no commercial disputes, Chancery's value is theoretical. For a venture-backed company that may face shareholder litigation, Chancery is a real benefit. Match the court's value to your dispute exposure.
What about Nevada's "no information sharing with the IRS" claim?
Nevada has no state income tax, so there is no state-IRS information-sharing arrangement to share. The same is true of Wyoming (no state income tax) and of Delaware for non-resident-owned LLCs not doing business in Delaware. The "Nevada is special on IRS sharing" claim is marketing language with no substantive content.
Can I move my LLC from Delaware to Wyoming if I change my mind?
Yes, by domestication. Wyoming accepts domestications from most states, including Delaware. The process: file Articles of Domestication with Wyoming, dissolve or withdraw the original Delaware entity, update bank accounts and EIN, update operating agreement to reference Wyoming law. Cost typically $200 to $1,500 depending on complexity.
What if I form in the wrong state?
Domesticate (move the LLC to the new state, keeping the same EIN and continuity) or dissolve and form a new LLC in the right state (cleaner but may trigger tax events on asset transfer). Talk to your CPA before either action; the choice depends on whether the LLC has appreciated assets.
Is there a state I should NOT form a privacy LLC in?
California is generally the wrong state for a privacy LLC: California requires public Statement of Information disclosure of managers and addresses, imposes the $800 minimum FTB tax, and is aggressive about claiming "doing business" jurisdiction over out-of-state entities owned by California residents. New York requires publication in two newspapers (NY LLC Law § 206) and has been amending toward more disclosure (NY LLC Transparency Act, post-veto status as of this article's date is in flux). For privacy-prioritized formations by non-residents of those states, Wyoming, Nevada, or Delaware are usually better choices.
What we offer
Wyoming LLC formation and registered agent service. $99/year for the registered agent service. We file as organizer (your name off the public Articles), and we include a substantive operating agreement template. We can also file in Nevada and Delaware for clients with specific reasons to choose those states.
Order at /order.html. Questions at /contact.html.
Independent Curator Disclosure: This article references statutes from Wyoming, Nevada, and Delaware, and court opinions including Olmstead v. FTC and Swart Enterprises, Inc. v. FTB, as researched and synthesized publicly available content. Mention of named services or jurisdictions does not imply endorsement, sponsorship, or affiliation. Statutes change; verify current text before acting on this article.
Educational only. We are not a law firm. We do not provide legal or tax advice. We are a Wyoming LLC formation and registered agent service.