Welcome to the official Start a Business webpage dedicated to educating foreign and domestic business representatives on the various requirements involved in filing their entity in the state of New Mexico. We urge readers to take the time to peruse the links found within our main page which will provide a series of in-depth and informative guides through the Secretary of State filing procedure. When registering with this state, filers will notice that there exists an online filing system available to domestic LLCs only. The remaining applicants must download the PDF associated with their entity type and submit it through the mail to the appropriate authorities. More information on this, and much more, can be found below within scrolling distance.
Select an Entity
New Mexico Online Account
An account with the Corporations and Business Services will be necessary when registering a domestic LLC online, and for all entities to file their annual/biennial reports and request certificates. The portal is the same for partnerships and corporations/LLCs and we’ve supplied a tutorial for the account set up procedures within our account creation guide here. Once logged in, you will have access to a few useful tools for managing and organizing your business filings.
Search for a Name
The Business Entity Search function on the Secretary of State website is similar to that of other states in that it provides a valuable resource in the ability to research the business information of all entities registered with the state. We often recommend, though it is not mandatory, that filers use the tool to investigate the availability of their proposed business name prior to filing. This will greatly reduce the likelihood of a rejected filing upon submission of the registration forms. You will notice, that the corporation/llc business search is located on a different webpage then that of the partnership. For your convenience, we’ve featured both entity search guides in our tutorial linked above.
How to File in New Mexico
Step 1- Regardless of your entity type, we always suggest that you employ the aforementioned Business Entity Search to research the name availability of your business. In the case that you are a foreign entity, and you have found a business who’s name is similar to yours, you will be required to operate under a fictitious name. A Name Reservation will allow filers to reserve their name for a period of 120 days prior to filing at the price of $25 for profit corporations, $10 non-profit and $20 LLCs. There exists no PDF file available for partnerships yet their filing can be completed for the price of $50 across the board.
Step 2- Below are all the tutorials for each business entity available in the state of New Mexico. Before choosing what entity type is best for you, we suggest that individuals seek legal counsel to consider the benefits of each possibility. You will find that the filing procedure is fairly straight forward regardless of the business entity you decide to form. Click on the link below that corresponds with the entity type you’d like to investigate to continue.
- Domestic Profit Corporation
- Domestic Non-Profit Corporation
- Foreign Profit Corporation
- Foreign Non-Profit Corporation
- General Partnership
- Domestic Limited Partnership
- Foreign Limited Partnership
- Domestic Limited Liability Partnership
- Foreign Limited Liability Partnership
- Domestic Limited Liability Limited Partnership
- Foreign Limited Liability Limited Partnership
Step 3- Once the formation/registration documents have been completed, and printed off in duplicate, you will be required to attach all supplementary certificates and forms as well as supply the filing fee in the form of a check or money order made payable to the New Mexico Secretary of State. A full list of the filing fees can be found below. Online filers will be able to provide payment by credit card, eCheck or through a pre-paid account.
- Domestic Profit Corporation- min $100, max $1000 (based on amount of authorized stock)
- Domestic Non-Profit Corporation- $25
- Foreign Profit Corporation- min $200, max $1000 (based on amount of authorized stock)
- Foreign Non-Profit Corporation- $25
Limited Liability Companies
- Domestic LLC- $50
- Foreign LLC- $100
- Domestic Limited Partnership- $100
- Foreign Limited Partnership- $100
- Domestic Limited Liability Partnership- $50
- Foreign Limited Liability Partnership- $50
- Domestic Limited Liability Limited Partnership- $100
- Foreign Limited Liability Limited Partnership- $100
- General Partnerships- $50
Step 4- Once you’ve filled out the necessary filing fee, and all certificates, documents and registration forms have been completed and signed by the necessary officers and agents, you will be able to send your filing package to the below address for processing by the office of the Secretary of State. Online filers will be able to officially submit their application once payment has been provided.
Office of the New Mexico Secretary of State,
325 Don Gaspar – Suite 300,
Santa Fe, New Mexico 87501
Name reservations are an extremely useful tool for those who feel as though their business name is common enough to be used by another entity, but need additional time to gather the required information for registration with the Secretary of State. Before submitting your filing, you may want to perform a Business Entity Search to ensure that the name you are attempting to reserve is not being used by another business. The filing fees vary between entity types with profit corporations paying $25, non-profit corporations supplying $10, all partnerships paying $50 and LLCs paying a total of $20 per reservation. Regardless of the variety of business you plan on filing, the reservation lasts for a period of no longer than 120 days prior to registration. More information on this procedure can be found in this tutorial.
Certificate of Good Standing/Existence
Corporations and LLCs will have the opportunity to file for a Certificate of Good Standing using an online account with the Secretary of State. The partnership’s equivalent to this document is actually called the Certificate of Existence and will be achievable through a similar online portal. Essentially, either certificate will allow for proof of compliance to state laws in the filing of requisite annual/biennial reports (if applicable) and the payment of all required filing fees. This can be used then to apply for authority to transact business in foreign states and to obtain large business loans if the financial institution demands such a document.
Whether filing as a corporation, a LLC or a partnership, regardless of the variety, it is a wise choice to draft a binding agreement between members which will relay the rules and regulations of your particular business entity in black-and-white. Fortunately, we’ve provided a free template, in Microsoft Word as well as Adobe PDF, for all entity types covered in this online tutorial. Although none of the below agreements are required by law in the state of New Mexico, they all come highly recommended as they will often serve as the only legal proof of each member’s particular rights and responsibilities. Have your attorney review the finished document before implementing it into your business structure and distributing copies to each applicable member for their own personal filing.
Employer Identification Number
When forming a new business, you may be required to apply for an Employer Identification Number from the IRS. Obtaining this proves to the IRS that you are indeed a legitimate business, legally allowing you to hire employees, apply for loans, register for bank accounts, and perform a number of other transactions. A tutorial on the application process has been created for those seeking assistance on this procedure. If you wish, you may apply directly Online or through the mail with the PDF Form SS-4.