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Nevada vs New Mexico LLC: cost compared (2026)
Over 5 years New Mexico costs $50 in state fees and Nevada $1,825, a difference of $1,775. After formation, the main yearly cost is the annual list and state business license at $350.
| Nevada | New Mexico | |
|---|---|---|
| Formation filing | $425 | $50 |
| Recurring report | $350 every year | none |
| Minimum state tax | none | none |
| Year one | $425 | $50 |
| 5-year total | $1,825 | $50 |
| Rank, cheapest first | 46 of 50 | 5 of 50 |
Running total, year by year
| After year | Nevada | New Mexico |
|---|---|---|
| 1 | $425 | $50 |
| 2 | $775 | $50 |
| 3 | $1,125 | $50 |
| 4 | $1,475 | $50 |
| 5 | $1,825 | $50 |
Nevada: rules to know
- The annual list and the $200 state business license renewal are both due by the last day of the anniversary month of the LLC's formation.
- A late annual list adds a $75 penalty.
- A late state business license renewal adds a $100 penalty.
New Mexico: rules to know
- An LLC that elects to be taxed as a corporation pays New Mexico's $50 annual corporate franchise tax with its corporate income tax return.
If the LLC will do business mainly in a third state, it usually has to register there as well, which adds that state's fees to either choice.
Sources, read verified 2026-11-15: leg.state.nv.us/nrs/nrs-086.html · leg.state.nv.us/nrs/nrs-076.html · enterprise.sos.nm.gov/forms/business · businessportal.nm.gov/maintain/file-reports/ · tax.newmexico.gov/businesses/2020/10/23/corporate-income-and-franchise
Questions
- Is Nevada or New Mexico cheaper for an LLC?
- New Mexico: $50 over 5 years in state fees, against $1,825 in Nevada.
- What does an LLC pay each year in Nevada?
- About $350 a year on average after formation, on the official pages we read.
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