Thinking of starting a U.S. LLC but working with limited funds? You’re not alone—and the good news is, you don’t need thousands of dollars to get started.
In this guide, we’ll show you:
- ✅ The cheapest U.S. states to form your LLC
- 🏦 The best free online business bank accounts
- 📋 A customizable step-by-step checklist for budget-conscious founders
🏛 Cheapest States to Form an LLC
State filing fees vary widely across the U.S. Choosing the right state can save you $200+ instantly.
Here are some of the most affordable options:
| State | Filing Fee | Annual Fees |
|---|---|---|
| Kentucky | $40 | $15 annual report |
| Mississippi | $50 | $0 (for most LLCs) |
| Colorado | $50 | $10 annual report |
| Arizona | $50 | No franchise tax |
| Missouri | $50 (online) | No annual report required |
👉 See full list of LLC fees by state
💡 Tip: Avoid states with high recurring fees like California ($800/year franchise tax).
🏦 Best Free Online Business Banks for LLCs
After forming your LLC, you’ll need a U.S. business bank account. Some banks offer 100% online setup and no monthly fees, even for international founders.
Top picks:
- Mercury Bank
➤ Ideal for U.S. and non-U.S. residents
➤ No fees, no minimums
➤ Includes virtual debit cards
➤ Visit Mercury - Relay Financial
➤ No fees
➤ Supports multi-member LLCs
➤ Integrates with QuickBooks
➤ Visit Relay - Novo
➤ Fast setup
➤ Free ACH transfers & integrations
➤ Visit Novo
✅ All three options allow you to open accounts remotely after you receive your EIN.
📝 Your Custom LLC Startup Checklist
Here’s a simple, customizable plan for launching your LLC on a tight budget:
- Choose your state (prefer low-fee states above)
- Pick a name and check availability
- Appoint a registered agent (use your own address or a $0 first-year service)
- File Articles of Organization online
- Get an EIN from the IRS for free (apply here)
- Write an Operating Agreement (free templates online)
- Open a free online bank account
- Apply for licenses or permits, if needed
- Start your business!
Need Personalized Help?
If you’d like help choosing the cheapest state, finding a free online bank, or want a checklist customized to your business and location, I’d be happy to help.
📩 Just let me know your business type, goals, and whether you live in or outside the U.S.—I’ll walk you through it.