Wyoming vs New Mexico LLC: which U.S. state is better?

Choosing a Wyoming vs New Mexico LLC comes down to upkeep. Neither state requires the owners' names on the formation filing. New Mexico (NM), a U.S. state, charges $50 to form and asks for no annual report. Wyoming charges $100, then wants a report and a license tax every year. If you want a private LLC that's cheap to keep, New Mexico wins, and it's the state EXNNA forms in.

Wyoming vs New Mexico LLC at a glance

Is a Wyoming or New Mexico LLC cheaper to keep?

New Mexico. A domestic New Mexico LLC files no annual report and pays no annual fee to the Secretary of State. It only has to keep a registered agent in the state.

A Wyoming LLC files an annual report by the first day of the month it was formed, every year. It comes with a license tax of $60 or 0.0002 of the LLC's Wyoming assets, whichever is greater. Skip it and the company falls behind with the State. More on this in LLC annual report requirements.

Which state keeps your name off the public record?

Both, on paper. New Mexico's Articles of Organization don't have to list owners or managers. Wyoming's need the company name and its registered office and agent, but not the members.

The catch is the same in both: whoever signs as organizer appears on the filing. Sign it yourself and your name is there. With EXNNA, we sign as organizer and act as your registered agent, so the record shows us and the member table reads "None Entered". See how an anonymous LLC works.

What is the same in both states?

• A registered agent in the state at all times. Here is what a registered agent does.
• An EIN, the LLC's federal tax ID, if you want a bank account.
• Your taxes depend on where you live and what the LLC does, not on which of the two you pick.

When would you pick Wyoming?

If you've already decided on it, plan for the report and the tax every year, and form it elsewhere: EXNNA doesn't offer Wyoming. If you plan a U.S. venture raise, the standard is Delaware, not either of these. Compare all three in New Mexico vs Wyoming vs Delaware.

Going with New Mexico? Form your LLC online in about two minutes, no ID documents needed. You pay the total in U.S. dollars or in your local currency, where available, by card, online. Every option is on our pricing.

Start