 New Mexico |  Rhode Island | |
|---|---|---|
| All-in to start with usOur $40 fee with the EIN, the registered agent for the first year, and the state fee. | $136.95 | $245 |
| State filing fee | $51.95 | $160 |
| Typical approval time | 1–3 business days | 1–2 weeks |
| What the state asks each year | None | Annual report $50 |
| Yearly state cost, about | $0 | $50 |
| Total over 5 years, aboutFormation, then four years of registered agent ($45) and state fees. Excludes bookkeeping and IRS filings, which are the same in every state. | $316.95 | $625 |
| State income tax on wages | Yes | Yes |
| Owners in the public formation document | Not listed | Can be listed |
| Newspaper publication after formation | No | No |
New Mexico against Rhode Island
Advantages
- Cheaper to form: $51.95 state fee against $160 in Rhode Island.
- Nothing to pay the state each year: no annual report and no annual fee, against about $50 a year in Rhode Island.
- Faster approval: usually 1–3 business days, against 1–2 weeks.
- Owners are not named in the public formation document.
Disadvantages
None against Rhode Island.
Rhode Island against New Mexico
Advantages
Nothing stands out against New Mexico.
Disadvantages
- Costs $108.05 more to form than New Mexico.
- About $50 a year more to keep than New Mexico (annual report $50).
- Slower approval: usually 1–2 weeks.
- Owners can appear in the public state record.
Which one to choose
New Mexico comes out ahead on both cost and speed: about $308.05 less over five years, and usually approved in 1–3 business days.
If your company will have staff, an office or a warehouse in one particular state, form it there: otherwise you register in that state anyway. Federal taxes and IRS filings are the same in every state.
General information about the states, not legal or tax advice. State fees change occasionally; the price at checkout is the price you pay.
New Mexico or Rhode Island
Questions about this comparison
Is a New Mexico or a Rhode Island LLC cheaper?
New Mexico is cheaper to form: $136.95 all-in with us, against $245. Each year after, New Mexico costs the state about $0 and Rhode Island about $50, plus $45 for the registered agent.
Which is faster, New Mexico or Rhode Island?
New Mexico usually approves an LLC in 1–3 business days, Rhode Island in 1–2 weeks. We file within 48 hours of payment in either state.
Can a non-US resident form an LLC in New Mexico or Rhode Island?
Yes, in both. Neither state asks for citizenship or residency, and the registered agent we include provides the in-state address. The EIN is included without an SSN.
Another pair