Side-by-side
| Dimension | Stripe Atlas | Wyoming LLC via WyomingLLC |
|---|---|---|
| Entity type | Delaware C-Corp or LLC | Wyoming LLC |
| Year 1 service fee | $500 + state fee | $397 |
| State fee at formation | $89 Delaware franchise + $50 filing | Wyoming $100 filing |
| Year 2+ recurring | Delaware franchise tax + RA renewal (~$400/year) | Wyoming annual report + RA renewal (~$160/year) |
| Stripe approval | Bundled with Atlas | Apply separately after EIN (typically instant) |
| Privacy | Delaware lists manager names | Wyoming SoS does not list members or managers |
| Asset protection | Weaker for single-member LLCs | Strongest US charging-order protection (Section 17-29-503) |
| Best fit | VC-bound startups requiring Delaware C-Corp | Bootstrapped, indie hacker, non-VC operations |
5-year cost breakdown
| Cost line | Stripe Atlas (Delaware) | Wyoming LLC |
|---|---|---|
| Year 1 service + state | ~$589 | ~$397 |
| Year 2 Delaware franchise + RA | $400 | $160 Wyoming |
| Year 3 | $400 | $160 |
| Year 4 | $400 | $160 |
| Year 5 | $400 | $160 |
| 5-year total | ~$2,189 | ~$1,037 |
| Savings with Wyoming | $0 | $1,152 |
When Stripe Atlas wins
- You have a priced VC round within 6 months and need a Delaware C-Corp for institutional capital
- You are on an accelerator track (Y Combinator, Techstars, 500 Global) where Delaware C-Corp is the default expectation
- You want Stripe approval bundled into formation (saves 1-3 days vs separate application)
- You specifically want Delaware case law for board governance, shareholder rights, equity issuance
When Wyoming wins
- You are bootstrapped, indie hacker, or solo founder with no VC plans
- You run agency, consulting, e-commerce, SaaS without institutional capital intentions
- You want the lowest lifetime cost (~$1,152 savings over 5 years)
- You want stronger privacy and asset protection (Wyoming Statute 17-29-503 charging-order)
- You operate a holding company or asset-protection structure
Convertibility
If you start with Wyoming and later need Delaware (VC round materializes), conversion is possible. The process takes 2 to 3 weeks and costs ~$1,500 through a US lawyer. Most founders never convert because they never raise priced equity.
If you start with Delaware C-Corp via Stripe Atlas and later regret it, downgrading to a simpler structure is harder. C-Corp dissolution and re-formation as LLC requires careful tax planning.
Privacy and asset protection
Wyoming SoS does not list members or managers on public filings. Delaware requires manager names on Certificate of Formation. For founders prioritizing privacy, Wyoming is structurally more private.
Wyoming Statute 17-29-503 makes the charging order the exclusive remedy for a member's creditor. Delaware single-member LLC case law is weaker (In re Albright and related rulings have eroded protections). For founders prioritizing asset protection, Wyoming is the better structure.