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Wyoming vs New Mexico LLC for non-residents
New Mexico is cheaper to keep: no annual report, so after the first year you only pay the registered agent ($59 a year with Dottie). Wyoming costs $110 more per year because of its annual report, and in exchange offers no state income tax and one of the best-known LLC laws in the US.
Key facts
- First year with Dottie: New Mexico $208, Wyoming $258 (EIN included in both).
- Each year after: New Mexico $59, Wyoming $169.
- Over five years: New Mexico $444, Wyoming $934.
- Annual report: New Mexico none; Wyoming every year, from $60 in state fees.
- Both keep members out of the public formation document, and both work for founders who live abroad.
Side by side
| New Mexico | Wyoming | |
|---|---|---|
| State formation fee | $50 | $100 |
| Annual report | None | Every year, from $60 |
| Annual report due | — | First day of the anniversary month |
| State income tax | Depends on the activity | None |
| Members in the formation document | Not listed | Not listed |
| First year with Dottie | $208 | $258 |
| Each year after | $59 | $169 |
| Five years in total | $444 | $934 |
When New Mexico fits better
- You want the lowest cost to keep the company running year after year.
- You prefer fewer deadlines: there is no annual report to file.
- Your LLC is a simple holding or online business run from abroad.
When Wyoming fits better
- You value a state with no state income tax.
- You want the LLC law that banks, platforms and partners recognize most often.
- You don't mind an annual report ($169 a year with Dottie, state fee included).
What is the same in both
- You do not need to live in the US, have a visa or an SSN.
- The EIN is included in Dottie's $99 formation in both states.
- Every LLC needs a registered agent: $59 a year with Dottie, or free if you already have one.
- Federal rules do not change with the state: a single-member LLC owned by a non-resident usually files Form 5472 with a pro forma 1120 every year ($199 with Dottie).
- The process and timing with Dottie: formed in a few business days, EIN usually 1–3 weeks later.
There is no universally better state. Dottie looks at your case — what the company does, who owns it and what you expect to pay each year — and shows the exact total for both before you pay.
Questions
Which is cheaper, a Wyoming or a New Mexico LLC?
New Mexico. The first year is $208 vs $258 with Dottie, and each year after $59 vs $169, because New Mexico has no annual report.
Which state is better for a non-resident?
Both work well for founders who live abroad. New Mexico is the lowest-cost option to maintain; Wyoming has no state income tax and a very well-known LLC law. Dottie compares both for your case.
Do I have to live in the state where I form my LLC?
No. Most non-resident founders choose a state for its costs and obligations. The registered agent provides the legal address in the state.
Can I change states later?
Moving an existing LLC to another state is a separate legal process and is not part of Dottie's services today, so it is worth choosing well from the start.
General information, not legal or tax advice. State fees and rules can change; Dottie always quotes the current amount before you pay.