Fees
New Mexico: $50 formation fee and no annual report for LLCs. Wyoming: $100 formation fee and an annual report from $60.
Obligations
In New Mexico, in practice you only need to maintain the registered agent. In Wyoming, you file the annual report every year. In both cases, federal obligations stay the same.
How partners see them
Banks and platforms come across Wyoming more often. New Mexico is perfectly valid, but some counterparts know it less well.
Our take
Minimal budget and a simple business: New Mexico. Want a state very common among non-residents: Wyoming. Compare the three-year cost with our calculator.
This article is for information only and is not legal or tax advice. The rules mentioned may have changed since the update date.
