New Mexico LLC Anonymous: Everything You Need to Know
New Mexico LLC anonymous is a type of limited liability company (LLC) that doesn't disclose its owner's identity to the public.3 min read
2. The Difference Between a New Mexico LLC Anonymous and Other LLCs
3. Pitfalls When Forming a New Mexico LLC Anonymous
4. How to Dodge Common Pitfalls
Updated November 12, 2020:
New Mexico LLC anonymous is a type of limited liability company (LLC) that doesn't disclose its owner's identity to the public. New Mexico is the only state in which business owners can list their businesses without attaching their names to the forms they are filing.
How to File a New Mexico Anonymous LLC
To file a New Mexico anonymous LLC, the owner must submit the business's Articles of Organization to the state. Typical Articles of Organization should include:
- The name of the company.
- The duration of the business.
- The registered agent's information.
- The business's level of management.
- The business organizer's signature.
How You Benefit From a New Mexico LLC
- Its filing process is hassle-free. You submit it once and don't have to deal with annual filings, reporting, or license renewals.
- It's cost-effective. You pay a low one-time fee, and the cost of maintaining an agent is also low.
- Your attachment to the LLC is not known to the public. Nothing links your name to the LLC, which helps ensure your privacy. No company directors, members, or owner's names are listed in any public database.
- New Mexico's business laws are more lenient for business owners than those of other states.
The Difference Between a New Mexico LLC Anonymous and Other LLCs
- New Mexico anonymous LLCs have a higher level of privacy than other anonymous LLCs. While LLCs filed in states such as Nevada, Wyoming, or Delaware promise privacy, they usually still list your name or the name of any other company member in a publicly searchable database. New Mexico anonymous LLCs do not do this.
- You don't have to file annual reports. Even if other states don't list LLC directors or members, most will require you to submit and include such details on your company's annual report.
- Its filing fees are lower than those of other states. You pay a one-time fee of $50. In Wyoming, for instance, that fee is $100.
- There are fewer annual requirements. In a New Mexico LLC, the owner must maintain only the registered agent for the LLC to remain in good standing. In Wyoming, for instance, the owner must comply with the state's annual reporting and the company's registered agent.
Pitfalls When Forming a New Mexico LLC Anonymous
Things can become complicated when business owners apply for a Federal Employer Identification Number (FEIN or EIN) for their New Mexico anonymous LLC. To obtain that ID number, the business owner must appoint an active member of the company as the "responsible person." Without that, the Internal Revenue Service (IRS) cannot give your business an FEIN.
One of the requirements of the Articles of Organization is listing your agent's name and address. If you decide to perform the role of agent yourself, this can put your privacy at risk.
New Mexico anonymous LLCs often face more challenges when opening bank accounts for their businesses. Because there is no owner's information in any database, some banks might not allow such LLCs to open accounts with them.
How to Dodge Common Pitfalls
- Let a qualified professional agent act on your behalf. This can help ensure your privacy and saves you from unnecessary stress.
- Make sure you have a signed Operating Agreement, a Banking Resolution, and a copy of your company's Articles of Organization. These documents can help you open a business bank account faster.
- Form your LLC in the state where you are actively conducting business. This simplifies your filing process.
- To get a FEIN or EIN and maintain your privacy, let a trusted friend, relative, or confidant act as a "responsible person" for the company.
A New Mexico anonymous LLC can help you maintain your privacy while running a business. To form such an LLC, use a third party as your registered agent and dodge the common pitfalls associated with opening a business banking account. This will help you set up a fully functional LLC with anonymous ownership.
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