There are general advantages to forming an LLC, though. Owners benefit from the limited liability protection offered by a corporate entity, which helps protects assets in the event of a legal proceeding. Depending on the state, there could be tax advantages, but in others, there are franchise and pass-through entity taxes assessed on LLCs.

As others have commented, LLCs aren't necessarily anonymous. Copies of filed documents are available in public databases either for free or for a nominal fee, including in the state of Wyoming. That said, appointing a corporate registered agent for service of process helps protect the business's information. These agents come with a cost, however, so factor that in when deciding to form an LLC.

Apart from that, you generally nail the benefits and drawbacks, but it's best to consult with an attorney and tax professional on advice for what's right for you.