New Mexico Secretary of State LLC: Everything You Need to Know
When forming a New Mexico LLC, you will need to register your business. By filing your articles of organization with the state's office, you are making the elected Secretary of State aware of your LLC.3 min read
When forming a New Mexico LLC, you will need to register your business. By filing your articles of organization with the state's office, you are making the elected Secretary of State aware of your LLC. This specific business structure offers a number of benefits, including greater flexibility, pass-through taxation, and limited liability. If you are ready to form a New Mexico LLC, here is what you should know.
Name Your LLC
When first forming an LLC, selecting the right name is the most important step.
You can choose any available name as long as it ends in "limited liability company," or any abbreviation. Before you do, conduct a search to see if your chosen name is right for your business. It should also be easily searchable by your potential customers and clients. Once you decide on a name, know that you can reserve it for up to 120 days.
To ensure that your name is not yet taken, conduct a name search on the State of New Mexico website. This is a key step before you file any LLC formation documents. Also, check to see if your desired domain is taken.
Street and Mailing Address of Your LLC
When including your LLC's principal address, know that this should be your main place of business. It can be a home address, a family member's house, the address of your registered agent, or an office address.
If you do not want to include a personal address, you can also use a PO box.
Choose a Registered Agent
When forming an LLC in New Mexico, you will need to select a registered agent. This business or individual will receive and send all legal paperwork on your behalf. Your chosen registered agent must live in New Mexico and be authorized to conduct business in the state. This individual can be yourself or someone within your business. The included address cannot be a PO box and if a rural address, provide a description of the geographical location.
File The Articles Of Organization
When forming an LLC in New Mexico, you need to file the articles of organization with the state's office. This can be done online or via mail.
As a domestic LLC, you will need to pay a nonrefundable fee of $50. If you prefer same-day filing, the fee will be $150. Another option is processing within two business days, which is $100. Sign the original, as well as a duplicate copy. You will also need to sign and file the Statement for the Acceptance of Appointment of the registered agent with the Public Regulation Commission of New Mexico.
Once your LLC has been approved, you will receive a stamped copy of your articles of organization. An official certificate will also be included, sent via regular mail. Before you submit this critical documentation, here is a checklist of what needs to be included:
- LLC name and business address
- The effective date
- Organizer's name, address, and signature
- Name and address of registered agent
- A completed and signed State of Acceptance of Appointment by Designated Initial Registered Agent form
Create An Operating Agreement
Although an operating agreement is not required in the state of New Mexico, it is highly recommended. This document will outline the requirements and financial responsibilities of each member. If created, you do not need to include this documentation with your articles of organization.
Obtain An EIN
At this point, you will need to obtain an Employer Identification Number — or EIN. This will be used to identify your business. If your LLC has more than one member, an EIN is required for tax purposes. It is also typically required when opening a business bank account. You can obtain this number from the IRS. Free of charge, this can be completed one of two ways:
- You can apply online.
- You can print the form and mail it in.
Before you register your LLC with the New Mexico Secretary of State, it is important that you ask the right questions. Although it is a fairly straightforward process, if your LLC includes multiple members, legal counsel is recommended. This can help you ensure the long-term success of your business.
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