New Mexico LLC vs Mississippi LLC (2026)
Written for owners based in New Mexico.
Verdict: for most owners, form where the business is based
On the headline numbers these two are identical: $50 to form, nothing to maintain, no fee attached to the yearly paperwork. Mississippi still requires that annual report to be filed online by April 15 even at $0, and skipping it can dissolve the company, where New Mexico requires no filing whatsoever. The asymmetry is on the foreign side. Mississippi charges an out-of-state LLC $250 to register and $250 again every year, while New Mexico charges $100 once, so the direction you cross the border matters more than the domestic price.
Based in Mississippi? Read Mississippi LLC vs New Mexico LLC →
Compare New Mexico LLC vs Mississippi LLC on filing fees, taxes, privacy laws, and annual costs. Find out which state is actually better for your business.
By Edmond Hui · Last updated: October 5, 2026
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| Factor | New Mexico | Mississippi |
|---|---|---|
| Filing Fee | $50 | $50 |
| Processing Time | Not published by the state | Same day (online) |
| Annual Report Fee | None | $0 |
| Annual Report Due | None required | April 15 |
| State Income Tax | Yes | Yes |
| Anonymous LLC | Yes | No |
| Publication Requirement | No | No |
| Foreign LLC Cost (if forming out-of-state) | N/A, you're in your home state | $100 + registered agent ~$150/yr |
Full fee breakdown for either state: New Mexico LLC cost and Mississippi LLC cost. Owner privacy options for either state: New Mexico anonymous LLC guide and Mississippi anonymous LLC guide.
Business Climate: New Mexico vs Mississippi
| Factor | New Mexico | Mississippi |
|---|---|---|
| 5-year business survival rate | 46.3% (#46 of 51) | 53.5% (#15 of 51) |
| Business application growth (2026 YTD (Jan to Jul) vs 2025 YTD (same months)) | +12.6% YoY (#37 of 51 by volume) | +29.5% YoY (#32 of 51 by volume) |
Sources: U.S. Bureau of Labor Statistics, Business Employment Dynamics · U.S. Census Bureau, Business Formation Statistics (BFS)
Compare LLC Costs: New Mexico vs Mississippi
New Mexico
Mississippi
A figure shown as "from" is the least the state can charge, not a price. Tennessee's report is $300 for up to six members and $50 for each member above six, its franchise tax is the greater of $100 or 0.25% of Tennessee net worth, Wyoming's report is the greater of $60 or $.0002 per dollar of in-state assets, Kentucky's entity tax is $175 up to $3 million of gross receipts and graduated above it, and New York's annual filing fee is graduated on New York source gross income. A total that contains one of those is shown as "from" for the same reason. Costs include every mandatory state charge: the filing fee, the report fee (annualised where a state files biennially), any state entity-level tax shown in its own row above, a one-time publication cost where the state publishes a rate for it, and any one-time registration charge a state requires before the LLC may trade. Two exclusions follow from that wording. Arizona and Nebraska require publication and publish no rate, so no newspaper cost is carried for either and their totals are not the whole cost. Alaska's $50 annual state business licence is a separate charge from the Secretary of State fees and is not carried here either. Annualising makes the 1, 3 and 5 year rows a cost of ownership rather than a payment schedule: a biennial state charges its whole report fee in the years it falls due and nothing in between. Entity-level taxes that only apply after a corporate election, or above an owner or income threshold, are excluded and flagged on the state's own cost page. New York's publication cost is carried at a $250 floor, roughly $200 of newspaper cost in a low-cost county plus the $50 Certificate of Publication fee. No county-clerk-designated New York City newspaper publishes a rate card, so the four-figure NYC estimates in wide circulation cannot be traced to a primary source and are not asserted here; budget for materially more than the floor if you file in a NYC county. Every fee was verified against the state's own fee schedule, statute, or revenue authority on 29 July 2026. Excludes registered agent and legal fees. For informational purposes only, not legal or tax advice.
Filing Fees & Formation Costs
New Mexico charges $50 to form an LLC, while Mississippi charges $50. The upfront filing fees are identical. The cost that usually gets overlooked: if you form in Mississippi but operate in New Mexico, you must also register as a foreign LLC in New Mexico (a $100 filing) and maintain a registered agent in Mississippi (typically around $150 per year). That puts the realistic first-year cost of the Mississippi route at roughly $300, versus $50 for simply forming in New Mexico. Only one side of this comparison is knowable: Mississippi publishes a standard turnaround (same day, online), while New Mexico publishes no standard processing time, so the two can't be ranked against each other on speed.
Taxes: New Mexico vs Mississippi
Both New Mexico and Mississippi levy a personal income tax on pass-through business income, and your LLC's profits will be taxed where you live and operate. Forming in Mississippi doesn't change what a New Mexico-based owner pays. Mississippi taxes individual income at a flat 4.0% on taxable income over $10,000 for tax year 2026 (down from 4.4% in 2025); the 2025 'Build Up Mississippi Act' schedules further phase-down toward eventual elimination, subject to revenue triggers. No franchise or privilege tax on a default LLC (Mississippi's corporate franchise tax reaches an LLC only if it is taxed as a corporation, and none is levied for tax years beginning on or after January 1, 2028); note the foreign LLC annual report carries a $250 fee while the domestic LLC annual report is $0.
Privacy & Asset Protection
New Mexico, your home state, actually offers more formation privacy than Mississippi: New Mexico allows anonymous LLC formation, while Mississippi requires owner or manager information on public filings. Mississippi's Certificate of Formation doesn't list members, but under Mississippi law the mandatory annual report requires the names and business addresses of managers (if manager-managed) or the name and address of at least one member (if member-managed), plus principal officers if any. Both states provide charging-order protection for LLC members, and for most small businesses the practical difference in asset protection between the two is minimal. From a privacy standpoint there's no reason for a New Mexico-based business to form in Mississippi.
Annual Maintenance Costs
New Mexico LLCs file no annual report at all, and Mississippi LLCs file a free annual report (due April 15). If you form in Mississippi while operating in New Mexico, you maintain filings in both states, Mississippi's report, though New Mexico asks for nothing on the foreign-registration side, and pay a Mississippi registered agent roughly $150 per year. Counting report fees, the agent and any entity-level tax, that brings the Mississippi route to roughly $150 a year, versus about $0 to keep a domestic New Mexico LLC in good standing. The tax inside those totals: No franchise or privilege tax on a default LLC (Mississippi's corporate franchise tax reaches an LLC only if it is taxed as a corporation, and none is levied for tax years beginning on or after January 1, 2028); note the foreign LLC annual report carries a $250 fee while the domestic LLC annual report is $0.
When Mississippi Actually Makes Sense
Forming in Mississippi makes sense in a few specific situations: your business genuinely operates in Mississippi, with a real office, employees, or property there, or you're relocating to Mississippi in the near future. For a typical small business based in New Mexico, none of these usually apply. Registering a Mississippi LLC to do business back home means $100 in New Mexico foreign-registration fees, on top of Mississippi's $50 formation fee, while New Mexico itself never asks for an annual report at all. New Mexico already allows anonymous formation, so the privacy argument for Mississippi doesn't apply to a New Mexico-based owner. Trading New Mexico's no-annual-report status for Mississippi's filing calendar is a step backwards for most owners. When in doubt, form where you actually do business.
Frequently Asked Questions
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Start your LLC with ZenBusiness →Affiliate link. We may earn a commission at no cost to you. MyStateLLC is not a law firm and does not provide legal advice.
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Sources
Each entry below is a document recorded in our verified sources, and each entry says what the document is. Some statutory text is read from an accurate mirror rather than from the state's own host, and those say so. Where we hold the citation but no stable public link, the citation is printed on its own rather than pointed at a guessed address.
- Mississippi statute: Miss. Code § 79-29-215 (annual report contents)
- Mississippi law: HB 1 (2025 Build Up Mississippi Act)
- sos.nm.gov/business-services/New Mexico Secretary of State: business entity filings
- sos.ms.gov/business-servicesMississippi Secretary of State: business entity filings
- sos.ms.gov/content/documents/Business/FeeSchedule.pdfMississippi LLC filing fees
Edmond Hui · Founder, MyStateLLC
Edmond Hui is a software engineer and serial entrepreneur based in New York who has founded multiple online businesses across e-commerce, media, and information publishing. Before transitioning into tech, he spent years as a commercial real estate professional closing deals totaling over 100,000 square feet, giving him firsthand experience with business formation and entity structuring. He built MyStateLLC to provide the free, state-specific LLC guidance he wished existed when forming his own companies.