Wyoming vs New Mexico LLC: Cost, Privacy and Yearly Filings
Compare a Wyoming LLC and a New Mexico LLC for non-residents: $100 vs $50 filing fee, annual report rules, privacy and which one suits you.
Is a New Mexico LLC cheaper than a Wyoming LLC?
Yes. New Mexico charges $50 to form an LLC and does not require an annual report, so there is no yearly state fee. Wyoming charges $100 to form and $60 a year. Both states keep owner names off the public record, and both require a registered agent every year.
1Side by side
| Point | Wyoming | New Mexico |
|---|---|---|
| State filing fee | $100 | $50 |
| Annual report | Yes, $60 minimum | Not required for LLCs |
| Owner names on public record | Not listed | Not listed |
| State income tax | None | Applies only to income earned in New Mexico |
| Registered agent | Required | Required |
2Where New Mexico wins
New Mexico is the least expensive state to keep an LLC open. With no annual report, the only fixed yearly cost is the registered agent.
3Where Wyoming wins
Wyoming was the first state to create the LLC, and its LLC law is well tested. The yearly report also gives you a recent state record, which some banks and partners like to see.
Wyoming has no state income tax of any kind, which keeps things simple if your business later gains U.S. customers or activity.
4Which one should you choose?
- Choose New Mexico when the lowest yearly cost matters most.
- Choose Wyoming when you want the more widely used state and do not mind $60 a year.
Federal filings are identical. A foreign-owned single-member LLC in either state files Form 5472 with a pro forma Form 1120 every year.
Official sources
Be Filing Inc is an IRS Certifying Acceptance Agent. This guide is general information, not legal or tax advice, and rules can change. Last reviewed in November 2026.
Quick questions, answered
Short, direct answers. If yours is not here, NIA or our team will help.
Ask on WhatsAppDoes a New Mexico LLC file anything with the state each year?
No annual report is required for a New Mexico LLC. You must keep a registered agent and file your federal forms.
Are New Mexico LLCs anonymous?
The state does not ask for member names in the formation filing, so they do not appear on the public record.
Do payment platforms accept New Mexico LLCs?
Yes. Platforms look at the company documents and EIN, not at which state formed the company.
Can I switch from one state to the other?
Yes, by converting or by forming a new company, but it is simpler to choose the right state at the start.
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