 Florida |  South Dakota | |
|---|---|---|
| All-in to start with usOur $40 fee with the EIN, the registered agent for the first year, and the state fee. | $210 | $245 |
| State filing fee | $125 | $160 |
| Typical approval time | 2–5 business days | 1–3 business days |
| What the state asks each year | Annual report $138.75 | Annual report $50 |
| Yearly state cost, about | $138.75 | $50 |
| Total over 5 years, aboutFormation, then four years of registered agent ($45) and state fees. Excludes bookkeeping and IRS filings, which are the same in every state. | $945 | $625 |
| State income tax on wages | None | None |
| Owners in the public formation document | Can be listed | Can be listed |
| Newspaper publication after formation | No | No |
Florida against South Dakota
Advantages
- Cheaper to form: $125 state fee against $160 in South Dakota.
- A large, well-known state with a big international banking scene.
Disadvantages
- About $88.75 a year more to keep than South Dakota (annual report $138.75).
South Dakota against Florida
Advantages
- Cheaper to keep: about $50 a year to the state, against $138.75 in Florida.
Disadvantages
- Costs $35 more to form than Florida.
Which one to choose
For the lowest cost over time, South Dakota: about $320 less over five years.
If your company will have staff, an office or a warehouse in one particular state, form it there: otherwise you register in that state anyway. Federal taxes and IRS filings are the same in every state.
General information about the states, not legal or tax advice. State fees change occasionally; the price at checkout is the price you pay.
Florida or South Dakota
Questions about this comparison
Is a Florida or a South Dakota LLC cheaper?
Florida is cheaper to form: $210 all-in with us, against $245. Each year after, Florida costs the state about $138.75 and South Dakota about $50, plus $45 for the registered agent.
Which is faster, Florida or South Dakota?
Florida usually approves an LLC in 2–5 business days, South Dakota in 1–3 business days. We file within 48 hours of payment in either state.
Can a non-US resident form an LLC in Florida or South Dakota?
Yes, in both. Neither state asks for citizenship or residency, and the registered agent we include provides the in-state address. The EIN is included without an SSN.
Another pair