New Mexico
New Mexico is the cheapest legitimate US entity that maintains member anonymity. There's no annual report, no franchise tax, and the Secretary of State does not collect member names on the formation document. For a solo operator who wants a US holding company at minimum cost and minimum recurring effort, NM beats Wyoming on price and ties on privacy. It loses on banking acceptance. The major US business-banking rails strongly prefer Wyoming and Delaware for marketing-list reasons.
What makes New Mexico different
- $50 filing fee. No annual report. No franchise tax. The cheapest US LLC at scale.
- Anonymous formation: no member disclosure to the state.
- Single-member LLCs are tax-transparent: pair with EIN for US banking access.
- Pairs with our First-100 promo at $50 state-fee-only.
What we collect, and what New Mexico filing requires
- Email, country of residence, intended use statement
- OFAC + EU + UN sanctions screen
- Beneficial owner identification per the registered agent's own BSA program
The honest note: Same federal CTA / BOI reporting requirement as every US LLC. State-level disclosure is minimal.
Where New Mexico entities bank
If banking is your top priority, choose Wyoming. NM optimizes for cheapness and zero-maintenance, not banking acceptance.
Full banking rankingWhen this jurisdiction is right (and wrong)
If you want a US holding company at the absolute minimum total cost over five years, NM wins. $50 filing + $69/yr RA + zero annual report obligation = sub-$400 over five years.
If you don't need US banking, for example, you operate exclusively through a foreign bank or only need the US entity as a contracting vehicle, NM is purpose-built for your case.
If you're stacking the First-100 promo, NM is the SKU that's discounted to state-fee-only ($50). No service fee, no upsell, just the entity.
Banking acceptance is weaker than Wyoming. If you need a major US business-banking rail to approve your account, expect more friction with NM than WY.
NM has less case-law depth than Wyoming on single-member LLC asset protection. For a serious litigation-defense posture, Wyoming's case law is stronger.
Same Form 5472 / pro-forma 1120 requirement for non-resident owners. Miss it = $25,000 IRS penalty per year.
Common New Mexico questions
Why is NM cheaper than WY?
NM has no annual report. Wyoming's $60/yr report is the main recurring difference. The initial filing fees are similar; the gap compounds over years.
Will I lose banking access by choosing NM over WY?
Not necessarily. Both NM and WY LLCs are accepted by the major US business-banking rails. Approval rates are anecdotally higher for WY. If banking is mission-critical, choose WY; if cost matters more, choose NM.
Is anonymity real or theater?
Real at the state level: your name doesn't appear on the formation document. Federal CTA / BOI collects it for LE access. If you want true anonymity from public records, NM beats most US states; if you want anonymity from FinCEN, no US state delivers that.
How does the First-100 promo work?
First 100 NM LLCs are billed at $50 (state fee only) instead of the standard $149 SKU. The counter is live on /bundles. Renewal is published transparently at $69/yr from day one. No hidden uptick.
Can I convert to Wyoming later?
Yes. Domestication / re-domiciling is supported. Pass-through state fees apply for both the NM dissolution and the WY formation.