Phytoplankton biomass and water column total phosphorus (TP) concentrations are common measures of lake trophic status. However, these commonly used trophic state indicators often lose their effectiveness in P-limited lentic systems dominated by benthic microbial and macrophyte producers, including both algae and cyanobacteria. We undertook a literature review to document the ranges and forms of the relationship between TP and phytoplankton, benthic algal, and macrophyte biomass across P-limited lentic benthic aquatic ecosystems. While phytoplankton and benthic algal biomass responded positively to water TP in littoral zones and shallow lakes and ponds as expected, benthic algal biomass was weakly and negatively related to water TP in wetlands. To better understand this negative relationship, we examined benthic microbial and macrophyte biomass relative to TP standing stocks across a nutrient gradient in two karstic wetlands and found strong positive associations between biomass and TP stock for both producers. Some wetland trophic assessments acknowledge that planktonic TP and chlorophyll-a fail to accurately represent trophic status. Incorporating a standing stock approach could enhance the effectiveness and reach of producer and TP relationship indicators for lentic systems at large.