New Mexico LLC via doola — Vietnamese Freelance Developers
Vietnamese freelance developers who want the cheapest US LLC pick New Mexico — zero annual state report and no franchise tax. doola handles NM + EIN + Mercury in 14-28 days for $297.
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. Vietnam side: Circular 111/2013 taxes worldwide personal income 5-35% on distributions received in Vietnam; SBV Circular 20/2015 requires reporting outbound investments above USD 3,000.
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 a Vietnamese resident owes no US federal tax when non-ETBUS with no effectively connected income; Form 5472 (IRC §6038A) mandatory yearly; Circular 111/2013 governs Vietnamese personal tax.
Circular 111/2013 on foreign-source income; USD conversion rules
New Mexico saves $60/year vs Wyoming with no operational tradeoff for solo Vietnamese devs; SBV Circular 20/2015 governs outbound above USD 3,000.
- 01Form 5472 penalty $25,000 per year (IRC §6038A)
- 02Circular 111/2013 progressive 5-35% on worldwide personal income when distributed
- 03SBV Circular 20/2015 outbound investment reporting above USD 3,000
- 04Vietnamese banks may require invoice or contract docs for inbound wires
From filing to funded bank account
US LLC (New Mexico) vs Estonia OÜ (e-Residency)
FAQ
Yes — Vietnamese tax authorities treat any US LLC as a foreign entity. The state of formation appears on your personal income declaration but does not change Circular 111/2013 treatment. NM is fine.
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.