Delaware has been the default for decades. For Bitcoin holders, Wyoming is the better choice.
| Wyoming | Delaware | |
|---|---|---|
| State income tax | None | 8.7% corporate |
| Franchise tax | None | $300/yr minimum |
| Annual report fee | $60 (for LLCs with Wyoming assets less than $300k) | $300 + $90 annual report |
| Member privacy | Names NOT on public filings | Less statutory protection |
| Single-member LLC protection | Charging order only — strongest in US | Weaker — courts allow other remedies |
| Digital asset legislation | 45+ laws since 2016. Assets = property. | Limited. No comprehensive statute. |
| DAO LLC statute | Yes — world’s first (W.S. § 17-31) | No |
| SPDI bank charter for crypto | Yes — Kraken HQ in Cheyenne | No |
| State-issued stablecoin | Yes — FRNT on 8 blockchains | No |
| Formation cost (state fee) | $100 | $90 |
| Total Year 1 cost w/ RA | ~$285 with Sagebrush | ~$500+ with national RA |
Delaware matters for venture-backed C-corps that need Chancery Court jurisprudence. For everything else — Bitcoin holders, crypto businesses, DAOs, international founders, privacy-conscious operators — Wyoming is the better jurisdiction by every metric that matters.
