New Mexico LLC via doola — Indian Freelance Developers
New Mexico is the cheapest US LLC state on annual carrying cost: no franchise tax, no annual report requirement, only the registered agent fee ($99/year on doola). For solo Indian freelancers who plan to keep the LLC dormant between projects, New Mexico saves ~$60-300 per year vs Wyoming or Delaware.
US tax: LLC pays $0 federal tax when non-ETBUS with no effectively connected income. Form 5472 + pro-forma 1120 mandatory yearly under IRC §6038A; $25,000 penalty. No state filings on New Mexico for LLCs — a clear administrative win.
India side: Schedule FA disclosure on ITR-2 mandatory; LRS $250k/year outbound cap unchanged.
Model the full outlay, not just the setup fee
- Setupdoola setup$297.00
- AnnualYear 2 renewal$297.00
What the tax authority sees
A New Mexico LLC held by an Indian resident owes no US federal tax when non-ETBUS with no effectively connected income; Form 5472 (IRC §6038A) mandatory yearly with $0 annual state reporting fee.
Section 44ADA presumptive taxation; foreign-source income rules
New Mexico LLC is the cheapest US state — no annual report, no franchise tax; only registered agent recurring cost.
- 01Form 5472 penalty $25,000 per year (IRC §6038A)
- 02New Mexico banking partners less common; Mercury still supports NM entities
- 03Schedule FA on ITR-2 mandatory; Black Money Act penalty INR 10 lakh
- 04LRS aggregate USD 250,000 per financial year outbound cap
From filing to funded bank account
US LLC (New Mexico) vs Estonia OÜ (e-Residency)
FAQ
New Mexico has no annual report requirement and no franchise tax; only the registered agent fee. Wyoming requires a $60/year state report. Over 5 years New Mexico saves $300+ vs Wyoming. Downside: less brand recognition with US buyers, but Mercury and Stripe accept NM LLCs identically.
Start filing with doola
Formation typically completes in 2–3 weeks. Use the promo below, then click through to begin the checklist directly on the platform.