The annual fee for New Mexico limited liability companies (LLCs) is $0. In addition to no annual fee, your New Mexico LLC also does not have to file an annual report. These are just a few of the reasons why New Mexico has become a desirable location to form an LLC.
The New Mexico Secretary of State has prioritized making the state one of the most inexpensive when it comes to forming and operating a business, ensuring that it is among the lowest for fees in the country. The only requirement implemented by the Secretary of State is that your LLC must maintain a registered agent to remain in good standing with the state.
In order to form your LLC in the state of New Mexico, you must file Articles of Organization with the New Mexico Secretary of State. When it comes to filing, you have the option of mailing in your articles or filing online through use of an e-file system. The filing fee for your Articles of Organization is $50. Note, however, that if you choose the e-file system, there is an additional deposit fee charged when funding your account.
Keep in mind that when you file your Articles of Organization with the state, both your name and signature will be visible for search in the public record. If you are concerned with maintaining a level of personal privacy, you might want to consider utilizing a formation service that allows for use of their name when filing for your LLC. Also, a formation service can provide your LLC with registered agent services, as well as other useful services that can benefit your business.
As you form your New Mexico LLC, it is important to be aware of any business licenses that might apply to your specific industry or the county in which you operate. However, if you form an LLC in New Mexico but do not live in the state or plan on physically operating the business there, you won’t have to worry about getting a New Mexico business license. In this case, your sole requirement will be maintaining a registered agent in order to keep your LLC in good standing and avoid dissolution.
While your New Mexico LLC is not subject to an annual fee, there are a few common fees associated with LLCs in New Mexico that your company may run into during the normal course of its operations. For example, making changes to your Articles of Organization, such as amending, restating, or changing the name of your business will incur a $50 fee.
Additionally, if your LLC experiences an administrative dissolution or revocation, the fee to reinstate your LLC is $25. Similarly, if you are interested in dissolving your LLC, the fee is also $25. Other common fee occurrences are reserving a name for your LLC, registering a trade name, or changing the address of your business, all of which carry a $20 fee.