Form a Delaware LLC if you intend to go public with an initial offering. Large companies are best served by Delaware because of their Chancery Court.
On the contrary, a Wyoming LLC is the best option for the small and family run business considering a limited liability company as their entity of choice.
In 1977, Wyoming was the first state to pass a Limited Liability Act. This was the first time the Limited Liability Company (LLC) was introduced to American business. Once the IRS recognized the LLC can be taxed as a partnership (that is, as a pass-through entity), all 50 states passed statutes creating their own version of the LLC.