why wyoming is often preferable to Nevada and Delaware
Wondering which state to domicile your corporation in? Frankly, it depends on your goals. Delaware is the preferred jurisdiction for Fortune 500 companies because of its laws regarding corporate governance and its fast track legal system which is designed to settle corporate disputes quickly.
View the chart below for a quick overview of why we recommend Wyoming for corporate services. Here’s a hint, though, Wyoming has the lowest state filing fees (take that Nevada), no state taxes (take that Delaware) and the strictest privacy laws.
If your aim is to become a Fortune 500 company, you plan on attracting venture capital, or intend on an IPO then Delaware's case law offers wonderful insights into what you may and may not do, along with the likely consequences of such a course.
Unfortunately, though, Delaware has both a corporate and personal income tax, a franchise tax, stricter reporting requirements and considerably more regulations compelling disclosure of personal information.
Our guess, though, is you aren’t a fortune 500 executive. You are an individual looking to minimize bureaucratic headaches and taxes while maximizing privacy.