With so much buzz around the question of “what’s the best state to incorporate in?” it’s understandable that you’d be curious about how much it costs to incorporate in the state of your choice. But before we dive into the costs for incorporation in each state, let’s first tackle the subject of where to incorporate. Delaware and Nevada are probably the states you hear about the most in terms of where entrepreneurs want to incorporate. That’s because Delaware is pro-business in its laws and regulations, and Nevada has no state corporate income, franchise, or personal income tax. But despite the appeal, neither might be right for your business.
Many states will charge you filing fees for the state you incorporate in, even if you don’t actually do business there. And some states (Maryland is an example) make it hard for an out-of-state business to open a bank account there. My rule of thumb is: if your business has five or fewer shareholders, it’s better to incorporate in the state where you have a physical office.
Costs for Incorporating in Each State
Now let’s look at each state and see what it costs to incorporate a business. These fees are subject to change, and are accurate as of March 2015.
Alabama: Incorporation filing fees are $165, and there is no fee to file your Annual Report.
Alaska: The fee to file your corporation is a bit higher in Alaska at $250. However, there is no fee for your Corporation’s Initial Report. After the first year, you will pay $100 to file your Annual Report.
Arizona: Filing fees for your corporation in Arizona are just $60. The Corporation Publication fee is $299 (which is required), and the Annual Report will run you $45.
Arkansas: You pay just $50 to incorporate in Arkansas, and to file your Annual Report: $150.
California: Filing in California will cost you $105, and filing your Corporation Initial Report — as well as subsequent Annual Reports is just $25.
Colorado: File your Colorado corporation for $50, and your Corporation Annual Report for $10.
Connecticut: Here’s another high one: Connecticut charges corporations $455 to file; the Annual Report is $100.
District of Columbia: To file in Washington DC, the corporation filing fee is $220, and the Annual Report fee is $300.
Delaware: Incorporation filing fees here are $140. The fee for the Annual Report is $225, based on a minimum number of authorized shares.
Florida: To file as a corporation in Florida, the fee is $78.75; pay $150 to file your Annual Report.
Georgia: Georgia charges $100 to file a corporation, but you also have to pay $150 for Corporation Publication fees. Your Corporation Initial Report will run you $50, as will your Annual Report after the first year.
Hawaii: Hawaii charges an affordable $50 to file, and just $15 for the Annual Report.
Idaho: Incorporate for $101 in Idaho, and pay nothing to file your Annual Report.
Illinois: Incorporation filing fees in Illinois costs $175, and the Corporation Annual Report is $155.
Indiana: Incorporate in Indiana for $90 and file your Annual Report for $30.
Iowa: Pay incorporation filing fees of $50 and Corporation Annual Report fees of $45.
Kansas: Incorporating here costs just $90; your Annual Report will run $55.
Kentucky: It’s $55 to incorporate in Kentucky, and $15 to file your Annual Report.
Louisiana: Incorporation filing fees in Louisiana are $100; Corporation Annual Report fees are $30.
Maine: Incorporate for $145; file your Annual Report for $85.
Maryland: Maryland charges incorporation filing fees of $155; its Annual Report fees depend on your business revenue (the minimum fee is $300).
Massachusetts: Incorporate your business in Massachusetts for $295 and pay $135 to file your Annual Report.
Michigan: Incorporating in Michigan is affordable at $60; Annual Report fees are also affordable at $25.
Minnesota: Your incorporation filing fees here are $160; pay nothing to file your Annual Report.
Mississippi: $50 will get you incorporated in Mississippi. After that, pay just $25 a year to file your Annual Report.
Missouri: Incorporate for $58; file your Initial Report (or Annual Report) for $45.
Montana: Incorporation filing fees in Montana are $70; Corporation Annual Report fees are just $15.
Nebraska: File for $65 in Nebraska, but you’ll also have to cover Corporation Publication fees of $150. Your Annual Report will cost $26.
Nevada: In Nevada, the incorporation filing fees are $75; you’re also required to pay a Corporation Initial Report fee of $325. After the first year, you’ll pay a Corporation Annual Report fee of $325.
New Hampshire: Both the fee to incorporate and the Annual Report fee are $100 in New Hampshire.
New Jersey: Incorporation filing fees here are $125; the Corporation Annual Report fee is $50.
New Mexico: Pay $100 in incorporation filing fees, as well as $25 for your Initial Report: $25. Your Annual Report will also run you $25.
New York: It costs $145 to file as a corporation in New York, and the Annual Report fee is just $9.
North Carolina: Incorporate in North Carolina for $125, then file your Annual Report for $20.
North Dakota: Incorporation filing fees are $100 here, and your Corporation Annual Report will cost $25.
Ohio: Your filing fees here are $125; there’s no charge for your Annual Report.
Oklahoma: Pay a fee of $52 to incorporate, and no fee to file your Annual Report.
Oregon: Both incorporation filing fees and Annual Report filing fees are $100.
Pennsylvania: Pennsylvania charges $125 for incorporation. There’s no Annual Report filing fee. You are required to pay Incorporation Publication fees of $299.
Rhode Island: Incorporate for $230, and file your Annual Report for $50.
South Carolina: Incorporation filing fees are $135; Corporation Annual Report fees are free; Incorporation Attorney Signature fees cost $100.
South Dakota: Incorporate your business for $150. Annually, pay $50 to file your Annual Report.
Tennessee: Filing fees for corporations in Tennessee are $125; your Annual Report filing fee is $20.
Texas: Incorporation filing fees are $310. The fees to file your Annual Report depend on gross annual revenue.
Utah: Incorporate for $72; file your Annual Report for $15.
Vermont: Incorporate in Vermont for $125; then file your Annual Report for $35.
Virginia: Incorporation filing fees here are cheap at $79; your Annual Report will run you more at $100.
Washington: Incorporation filing fees are $200, and your Initial Report $10. Pay $73 to file your Annual Report.
West Virginia: Pay filing fees of $82, and Annual Report fees of $25.
Wisconsin: Incorporate for $100; file your Annual Report for $40.
Wyoming: Pay filing fees of $103 in Wyoming. Your Annual Report can be filed for $52.