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How to Form an LLC in New Mexico

Located in the Southwest U.S., New Mexico is one of the largest and least-densely populated states in the union. As a mountain state, it borders with Utah, Colorado, Texas and Oklahoma, and also shares a border with Mexico. It is renowned as a low-tax area, and its economic drivers include agriculture, mineral and oil extraction and retail.

If you want to start your own business in New Mexico, one of the best ways to do so is by forming an LLC. Limited liability companies (LLCs) are a business entity designed for startups and small- and medium-sized businesses. New Mexico LLCs give you many of the protections and advantages of larger corporations without all the rules, regulations and compliance issues common to larger business entities.

Briefly, the benefits of starting a New Mexico LLC include:

  • Separating and limiting your personal liability from your business liability and debts
  • Quick and simple filing, management, compliance, regulation and administration of your New Mexico LLC
  • Easy tax filing and potential advantages for your tax treatment

Learn more about the benefits of the LLC business structure here.

Six Quick Steps to Forming Your New Mexico LLC

This full guide has plenty of information on how to form a New Mexico LLC, but essentially it breaks down into these six simple steps:

STEP 1: Gather Information for Your Members

First, you need to gather basic information about your LLC, including the names and addresses of the managers or members. The LLC members are typically the people who own and run the business. They are also the ones who can take profits out of the business to pay themselves.

STEP 2: Choose a Unique Business Name

You will need a distinctive and original name for your LLC that’s not used by any other business in NM. To find out if another company is using your chosen business name, carry out a business entity name search on the NM Secretary of State website.

There are a few rules you’ll need to follow when choosing an LLC name. You can find out more in our guide to naming your New Mexico LLC.

Learn about New Mexico LLC business naming rules.

STEP 3: Provide an Official Address for Your NM LLC

Every New Mexico LLC must have a designated street address. That could be your home address (if you’re running the company from your residence), your company’s office building or any physical address of your preference. The address must be inside the state of New Mexico, but it cannot be a P.O. Box.

STEP 4: Assign a New Mexico Registered Agent

Every NM LLC must have a “Registered Agent.” This is an official position; the Registered Agent is someone who receives official legal and tax correspondence and has responsibility for filing reports with the New Mexico Secretary of State.

This position can be filled by you, another manager in the business or a dedicated Registered Agent service. Your Registered Agent must have a physical street address in New Mexico and must be present to receive important documents for your company during business hours.

At Incfile, all of our packages include a New Mexico Registered Agent service that is free for the first year and just $119 per year afterward. We also have a dashboard where you can log in and easily view any document your Registered Agent has received on your behalf.

Learn more about New Mexico Registered Agents.

STEP 5: Get an Employer Identification Number (EIN) from the Internal Revenue Service

You will need an EIN to identify your business with the IRS. You use this number when filing and paying taxes or when submitting payroll information and payments for your employees. You can obtain one directly from the IRS, or we can get one for you as part of the New Mexico LLC business formation process.

STEP 6: File Articles of Organization with the New Mexico Secretary of State

Once you've gathered all the information for your LLC, you’ll need to file a formal document with the NM Secretary of State. This document is known as your “Articles of Organization,” and filing the document creates your New Mexico LLC. Here’s what is typically included:

  • Your business name and address
  • Details of your Registered Agent
  • Names of managers or members of the LLC at the time of filing
  • Addresses of managers or members of the LLC at the time of filing
  • Name of the incorporator

You can file your New Mexico Articles of Organization online, mail in a form or have Incfile do it on your behalf. There is a fee to file and start an LLC in New Mexico, but you only need to file your Articles of Organization once.

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Additional Information from the New Mexico Secretary of State

The Secretary of State has plenty of other information on forming and running a business in New Mexico. You’ll find other useful information below.

Foreign LLCs in New Mexico

If your business is already operating in another state and expanding to New Mexico, you’ll need to form a foreign LLC.

More information on New Mexico filing and licensing requirements here

Professional LLCs in New Mexico

Some states have special requirements for “professional LLCs” (PLLCs). These are typically companies that provide professional services that require licensing, like accounting, law, and physical therapy.

However, New Mexico does not have specialized professional LLCs; instead, regular LLCs in New Mexico can provide professional services.

Other Information in This Guide

You’ll find plenty more insight and guidance on the other pages of this guide, including:

Naming Your New Mexico LLC

How to search the New Mexico business registry of the Secretary of State and find the right name. Includes information on naming rules, fictitious names, reserving a New Mexico LLC name and more.

New Mexico Registered Agents for LLCs

How to appoint a Registered Agent to your new LLC or change to a different Registered Agent. Includes information on Registered Agent rules and searching forNew Mexico Registered Agents.

Fees and Requirements for New Mexico LLCs

How to understand the various fees you’ll need to pay and the requirements you’ll need to meet for both federal and New Mexico rules. Includes details of Employer Identification Numbers (EINs), New Mexico and federal business licenses, annual reports and more.

Federal, State, Sales and Other Taxes for Your New Mexico LLC

How to understand the various taxes you will need to pay to the federal and New Mexico government. Includes details of federal taxes like income and self-employment, and New Mexico taxes like sales tax and income tax.

What to Do After Setting Up Your New Mexico LLC

Want to know your next steps after creating a new LLC in New Mexico? Here’s our guide to understanding your ongoing requirements, setting up new bank accounts, protecting your business name, getting accounting in place and more.

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What are the fees and requirements to form a business in New Mexico?

Filing Time and Price

The state charges this amount to file a new business entity. This fee goes directly to the Secretary of State.

State Fee State Filing Time Expedited Filing Time
$50 10 Business Days 2 Business Days

Compliance Requirements

This report is mandatory and must be filed within the specified time frame in order for the entity to remain in good standing with the state. Failure to file this report can lead to the company being revoked or administratively dissolved.

Annual Report

Frequency:New Mexico LLCs are currently not required to file annual reports.

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