LLC

A Tennessee LLC costs $50 per member to form, with a $300 minimum and a $3,000 maximum, so any LLC with six or fewer members pays $300. The annual report uses a similar formula: $300 for up to six members, plus $50 for each member above six. Tennessee also levies franchise and excise tax on LLCs, with a $100 minimum franchise tax owed even when the LLC is inactive. At the minimum, a Tennessee LLC costs $400 a year.

An Illinois LLC costs $150 to form with the Illinois Secretary of State, or $400 for a series LLC. Every Illinois LLC then files a $75 annual report before the first day of its anniversary month, and a report left unfiled for long enough draws a $100 penalty. Illinois has no franchise tax on LLCs, but an LLC taxed as a partnership pays the 1.5% Personal Property Replacement Income Tax on its net income. At the minimum, an Illinois LLC pays $150 in year one and $75 a year after that.

A South Carolina LLC costs $110 to file Articles of Organization with the South Carolina Secretary of State. South Carolina requires no annual report from an LLC unless it elects to be taxed as a corporation, and it charges no entity tax on LLCs taxed as partnerships or sole proprietorships. For most LLCs, the full state cost is the $110 formation fee, paid once.

An Oregon LLC costs $100 to file Articles of Organization with the Oregon Secretary of State. The annual report costs another $100 every year and is due on the anniversary of the original filing. Oregon charges no franchise tax on LLCs, but its Corporate Activity Tax applies to every business with more than $1 million of Oregon commercial activity. For most LLCs the minimum state cost is $100 in year one and $100 a year after that.

A West Virginia LLC costs $100 to file Articles of Organization with the West Virginia Secretary of State. The annual report costs $25 and is filed between 1 January and 30 June each year after formation, and a late report adds a $50 fee. West Virginia charges no franchise tax on LLCs, though the State Tax Division requires a $30 Business Registration Certificate. At the minimum, a West Virginia LLC pays $100 in year one and $25 a year after that.

A Maryland LLC costs $100 to file Articles of Organization with the Maryland State Department of Assessments and Taxation (SDAT), plus $50 for expedited review and a 3% service fee when paid online. The real cost is the annual report: every Maryland LLC files Form 1 with a $300 fee by 15 April each year. At the minimum, a Maryland LLC pays $100 in year one and $300 a year after that, which makes it one of the most expensive states to keep an LLC.