Wyoming vs New Mexico vs Delaware: Which State Is Best for Your LLC in 2026?

For 90% of non-resident founders, the answer is simple: Wyoming if you want privacy and zero state tax with $60/year fees, or New Mexico if you want the cheapest possible setup ($50, no annual report). Delaware is only worth its $300/year franchise tax if you plan to raise from US VCs and convert to a C-Corp.

Quick comparison

• Wyoming: $100 filing, $60/year, anonymous LLCs, no income tax → best overall
• New Mexico: $50 filing, $0/year, anonymous LLCs → cheapest
• Delaware: $110 filing, $300/year, public records, VC standard → only if raising
• Florida: $125 filing, $138/year, public records → only if you operate from FL

Banking compatibility

All four are accepted by Mercury, Wise, Relay and most US fintechs as of 2026. PayPal and Stripe accept all four.

Our recommendation

Start with Wyoming. Switch to Delaware later if you raise a Series A.