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How Much Does It Cost to Form an NM Corporation?

Legal business registration — and maintaining a good standing status — involves necessary expenses and investment. Some of these costs are payable to the NM Secretary of State, while others are due to additional state entities or the federal government. Here are some common requirements and fees.

Please note that fees for a State of New Mexico business license or permit may be due when you first form your business, on an ongoing schedule or on an ad hoc basis. Find more details below.

Initial New Mexico Corporation Filing Fees

When starting a business in New Mexico State, you’ll need to file a form and pay a filing fee. Here are the current New Mexico corporation filing fees and times:

State Fee State Filing Time Expedited Filing Time
$100 5 weeks 29 Business Days
State Fee $100
State Filing Time 5 weeks
Expedited Filing Time 29 Business Days

When you use Incfile to register a business in New Mexico, we charge you the state filing fee and forward it to the Secretary of State when we file your incorporation paperwork.

Incfile can file your incorporation paperwork for you for free.

Just pay the required New Mexico corporation filing fees.

New Mexico allows you to incorporate more quickly by paying a rush fee

Employer Identification Number

Every corporation in the country should have a unique EIN (Employer Identification Number) from the Internal Revenue Service. You'll use it when you open a business bank account, file taxes and pay employees. You can get one directly from the IRS, or Incfile can get one for you.

Foreign Corporations

If you want to do business in a state other than the one where your business is based, you must create a Foreign Corporation.

New Mexico Foreign Corporation Registration

Before you can bring an arm of your business from another state into New Mexico, you must request New Mexico Foreign Qualification. This means the state gives you permission to conduct business there.

To request registration of a New Mexico Foreign Corporation, you must complete an Application for Certificate of Authority. You must complete a calculation to determine the filing fee that applies to you. There is a minimum filing fee of $200 and a maximum of $1000. The state may have additional registration requirements, so contact the New Mexico Secretary of State directly for more information and to ensure you're in compliance with NM corporation law.

Foreign Qualification to Operate in Another State

If you plan to expand your New Mexico corporation into another state, you’ll first need Foreign Qualification or a Certificate of Authority from that state. This is necessary before you can create a physical presence, hire employees or bank in that state.

You'll likely have to complete at least one application and pay a filing fee, but each state has its own requirements. Before you start the process, compare state filing times and state filing fees so you can plan accordingly.

Above all, contact the state government entity that administers business (usually the Secretary of State) to confirm their requirements and for specific instructions.

If you need assistance, Incfile provides a complete Foreign Qualification service for all states.

New Mexico Annual Report Requirements

Most states require business entities to file an annual (or other periodic) report. New Mexico requires a biennial report to be filed every two years with the NM Secretary of State.

When you complete your biennial report, you'll do so online via the online business portal provided by the Secretary of State. The biennial report filing fee is $25.

Annual Report



Due Date

Before the 15th day of 3rd month after close of fiscal year.

Filing Fee

Incfile can complete and file your biennial report on your behalf

State of New Mexico Business License and Permit Requirements

Before you start doing business, you must secure the necessary state, federal or local business licenses and permits to operate your corporation. Some of the fees will only need to be paid once, while others may be ongoing charges.

Permits and licenses vary based on:


The type of business you run (e.g., attorneys must pass the state bar exam)


The industry your corporation operates in (e.g., restaurants will need health permits)


The location of your corporation (state, county or city) (e.g., a license to conduct business in the city of Albuquerque)

Operating your corporation without the required State of New Mexico business license can leave you vulnerable to risks, such as fines from local, state and federal governments.

You can research these permits and licenses yourself, or use Incfile’s Business License Research Package, which includes:

  • A complete report on all the licenses, permits and tax registrations your corporation will need
  • The applications you'll need to file with the local, state and federal licensing authorities

Corporate Bylaws

You are required to have New Mexico corporation bylaws if you form a corporation in the state. You aren't required to file them with the New Mexico Secretary of State, but make sure you have them with your business documents and by all means, continue to follow them.

This document outlines rules for carrying out tasks related to managing your corporation including, but not limited to:

  • the number of directors the corporation has
  • how they'll be elected, their qualifications and the lengths of their terms
  • when, where and how your board of directors can call and conduct meetings
  • voting requirements

The bylaws must then be adopted (and amended, if necessary) by the board of directors and shareholders.

Drafting a set of bylaws can be extremely helpful in making sure you’re organized and can help protect your business from any future changes and events that may affect your business.

Other NM Corporation Filing Requirements and Fees

The State of New Mexico requires you to complete a few more tasks before you can begin conducting business.

Appoint a Director

Some states require corporations to appoint a full board of directors. NM corporation law requires all corporations to have at least one director.

Appoint Officers

In New Mexico, the board of directors may elect officers such as athe president, vice president, secretary, treasurer, etc. New Mexico Statutes require that one officer must hold the duty to record the proceedings of the meetings of the members and directors in a book to be kept for that purpose.

Issue Stock to Shareholders

To raise business capital and keep it separate from company owners' money, every New Mexico corporation must sell stock to its shareholders. The Articles of Incorporation must authorize the sale of at least one class of share, and the corporation cannot sell more shares than are authorized.

Hold Annual General Meetings

In New Mexico, it is required that you hold annual meetings. But should you fail to do so, New Mexico Statutes Chapter 53, Article 11, § 53-11-28 states, "If the annual meeting is not held within any thirteen-month period, the district court may, on the application of any shareholder, order a meeting to be held."

Change the Registered Agent

If your corporation is based in New Mexico, then you must have a Registered Agent in the state. You'll need to appoint one when you file your Articles of Incorporation. You can also choose to change your Registered Agent later by updating the information online via the online business portal and paying a fee of $20.

Important: A Statement of Acceptance must be completed and uploaded as part of the filing process.

Let Incfile serve as your Registered Agent.

It’s free for the first year if you form your NM corporation with us and $119 a year after.

Reserving a Name for Your Corporation

If you're not quite ready to start your business, you can reserve a name for 120 days with the Secretary of State by filing a form and paying a fee of $25. First, conduct a NM corporation search and learn the state's business naming rules to ensure you choose a name that meets legal requirements.

Amending Facts About Your Corporation

When you incorporate, the New Mexico business forms you fill out include certain facts about your business at that time. Through the years, some or all of this information may change. If it does, you'll need to file Articles of Amendment with the Secretary of State along with a filing fee of $100. You can do this yourself or Incfile can do it for you.

You'll need to file Articles of Amendment when you:

  • change the company's name
  • add, remove or change a director
  • change the Registered Agent
  • change the number of shares your corporation is authorized to issue
  • change any other facet of your business that was listed on the original Certificate of Incorporation

Get a Certificate of Good Standing

Some organizations may request that you prove your corporation's compliance with laws and tax requirements. In most states, including New Mexico, this proof is provided with a Certificate of Good Standing.

If you need to prove you have met your commitments, you’ll need to request an NM Certificate of Status from the Secretary of State. You can do this via the online business portal. A filing fee of $25 is applied for this service.

Incfile can obtain an NM Certificate of Good Standing on your behalf

The information listed above details many of the fees a standard corporation will be required to pay in New Mexico. In some circumstances, there may be other one-off, periodic or ad hoc fees not listed above.

Of course, your corporation will also probably need to pay federal, state, self-employment (if it's an S Corp) and other taxes. You'll find more information on the New Mexico taxes page.

FAQs About NM Corporation Filing Requirements and Fees

What Happens to the State Fees I'm Charged When I Incorporate?

We charge you this fee at cost and then pay it to the NM Secretary of State on your behalf when forming your business.

How Do I Get a Business License in New Mexico?

It depends on various factors, including:

  • Governing organizations in your industry
  • Federal, state and local regulations
  • Where you're located
  • The type of business you run

Many new businesses need a business license, and you may be required to obtain additional licenses and permits. Our Business License Research Package can take the guesswork out of it for you and help you learn what your corporation needs to be compliant.

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