Developing ideas of [B. L. Feigin, Conformal field theory and cohomologies of the Lie algebra of holomorphic vector fields on a complex curve, in Proc. Int. Congress of Mathematicians (Kyoto, 1990), Vols. 1 and 2 (Mathematical Society of Japan, Tokyo, 1991), pp. 71–85], we introduce canonical cosimplicial cohomology of meromorphic functions for infinite-dimensional Lie algebra formal series with prescribed analytic behavior on domains of a complex manifold M. Graded differential cohomology of a sheaf of Lie algebras 𝒢 via the cosimplicial cohomology of 𝒢-formal series for any covering by Stein spaces on M is computed. A relation between cosimplicial cohomology (on a special set of open domains of M) of formal series of an infinite-dimensional Lie algebra 𝒢 and singular cohomology of auxiliary manifold associated to a 𝒢-module is found. Finally, multiple applications in conformal field theory, deformation theory, and in the theory of foliations are proposed.