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US LLC (New Mexico) · via doola·🇪🇬Founder profile

New Mexico LLC via doola — Egyptian Freelancers

VerifiedJul 2026
EligibilityEligible
Setup timeline14–28days
Year-1 total$297.00

New Mexico is the cheapest US LLC state to maintain — no annual state report, no franchise tax. For Egyptian freelancers who invoice a few international clients per month and want minimum US administrative friction, NM saves ~$60/year vs Wyoming.

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. Egypt side: Law 91/2005 taxes worldwide personal income at 10-27.5% progressive on distributions received; CBE tightens scrutiny on inbound USD wires above ~USD 10,000.

doola completes NM formation + EIN + Mercury in 14-28 days.

§ 01Cost of ownership

Model the full outlay, not just the setup fee

Renewal costs sneak up on non-resident founders. Compare year-1 filing against a 3-year total to see the real bill.
Currency · USD (live FX)
2-year cost of ownership
$594.00
$24.75/month amortized·USD @ live FX
Time horizon
Line items
Amount
  • Setupdoola setup
    $297.00
  • AnnualYear 2 renewal
    $297.00
Total$594.00
§ 02Tax residency · Egyptian Freelancers

What the tax authority sees

US federal / local status

A New Mexico LLC held by an Egyptian resident owes no US federal tax when non-ETBUS with no effectively connected income; Form 5472 (IRC §6038A) mandatory yearly with no state annual report fee.

Home-country rule

Egyptian Tax Authority Law 91/2005 on foreign income

Editorial verdict

New Mexico LLC is the lowest-friction US state for Egyptian freelancers — no state report, no franchise tax; Egyptian Law 91/2005 handles the personal tax side.

Key compliance risks
  • 01Form 5472 penalty $25,000 per year (IRC §6038A)
  • 02Egyptian Law 91/2005 taxes worldwide personal income at 10-27.5% on distributions
  • 03CBE FX inbound wire scrutiny above USD 10,000
  • 04Freelancer Syndicate fees still apply personally to your local activity
§ 03Setup timeline

From filing to funded bank account

Setup timeline
14–28days total, 3 phases
Milestone check
Filing · Tax ID · Banking
d0
d7
d14
d21
d28
01Filingdoola submits formation docs
d0–d10
02Tax ID / EINIRS EIN issuance
d8–d21
03BankingBusiness account approved & funded
d17–d28
§ 04Head-to-head

US LLC (New Mexico) vs Estonia OÜ (e-Residency)

US LLC (New Mexico)
LLC
Estonia OÜ (e-Residency)
Entity
LLC
Setup cost
$50.00
$205.20
Annual
$0.00
$129.60
Local director
Remote OK
Remote OK
Physical presence
Remote OK
Remote OK
Tax regime
No annual report; federal only on US-source income
20% only on distributed profit; 0% on retained earnings
§ 05Questions founders actually ask

FAQ

Because you never visit, state prestige is irrelevant — Egyptian clients and US SMBs care about your professional work, not your LLC's formation state. NM has zero annual state filings and no franchise tax, so it is genuinely the cheapest US LLC to maintain long-term.

Next step

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.