Federal isn’t the only government your LLC answers to. The state where it’s formed expects a periodic filing — usually an annual report, sometimes a franchise tax — to keep the company in good standing. Miss it and the state can dissolve your company.
Here’s the lay of the land for the three states foreign founders pick most.
Wyoming
- Filing: Annual Report, due the first day of the company’s anniversary month.
- Fee: $60 minimum (a license tax based on Wyoming-situated assets; most foreign-owned LLCs pay the floor).
- Why founders pick it: low cost, no state income tax, strong privacy.
Delaware
- Filing: Annual franchise tax (LLCs don’t file a report, but they owe the tax).
- Fee: a flat $300 per year for an LLC, due June 1.
- Watch out: the $300 is flat for LLCs — but Delaware corporations face a much larger, formula-based bill. Make sure you know which entity you actually have.
New Mexico
- Filing: none. New Mexico LLCs file no annual report and pay no annual fee.
- Trade-off: you still need a registered agent, and the lack of an annual touchpoint means it’s on you to keep records current.
The pattern that matters
Whatever the state, the failure mode is the same: a missed report leads to delinquency, then administrative dissolution. The fee is small; the consequence is losing the company. This is exactly the kind of recurring, low-amount-high-stakes deadline ForeignFile is built to never let slip.
Common questions
What happens if I miss a state annual report?
The state first marks the company delinquent and adds a late fee. Continue to miss it and the state administratively dissolves the LLC — at which point you lose the liability shield and the name, and reinstatement costs more than the report ever would have.
This resource is general information for non-U.S. owners of U.S. LLCs and was reviewed for accuracy in May 22, 2026. It is not legal or tax advice for your specific situation. Penalty figures are illustrative maximums published by the relevant agencies.