This specific tutorial has been designed simply to give a general idea of the registration procedure for corporations, both foreign and domestic, in the state of New Mexico. When filing, corporate representatives will be required to download the requisite PDFs, enter in all applicable data and send the file along with the filing fee to the office of the Secretary of State for processing. Unfortunately, there exists no online filing system and the aforementioned procedure will be asked of all business entities. The filing fees are somewhat strange in New Mexico as they are dependent on the amount of corporate stock issued (profit entities only).
How to File
Step 1- The first step we usually recommend that filers take is the cross checking of the Secretary of State name database which can be accomplished through the application of the Business Entity Search function. All businesses must operate under a name which is completely unique to them in the state of New Mexico. Also, many business representatives find that a name reservation filing is useful in protecting the rights of their given name. More information on that can be found in our tutorial here.
Step 2- The filing of the registration documents must be done through PDF and the information required in those PDFs vary from corporation to corporation. To learn more about the exact data requested by the Secretary of State, click on the tutorial linked below which coordinates with your entity type.
Step 3- After the forms have been completed, you will be able to attach any required certificates/documents. This will mean certificates of good standing if you represent a foreign business, document delivery instructions (applicable across the board) and the like.
Step 4- Finally, you will be able to pay the filing fee by check or money order made out to the Secretary of State. If you are a domestic corporation, your fee will be dependent on the amount of authorized shares and the monetary value of said shares. For profit entities, this will mean a minimum of $100 and a maximum of $1000. The minimum for foreign profit is set at $200 while the maximum is the same as domestic. For all non-profit corporations, your fee will amount to $25. Regardless, all filing packages will need to be sent to the below address when completed.
Office of the New Mexico Secretary of State,
325 Don Gaspar – Suite 300
Santa Fe, New Mexico 87501
EIN– The Employer Identification Number is the equivalent to a Social Security Number on a corporate level. Required by the IRS for all corporations, this number will provide you with the legal means of conducting business within the U.S. Obtaining this should be done as soon as possible once your corporate filings have been commenced. If you have not filed for a EIN already, you may do so Online, or by printing off the file titled Form SS-4 and mailing it to the proper authorities. Click on the link at the heading of this paragraph to learn more about the application process.
Corporate Bylaws– Drafting a set of corporate bylaws when forming a new, domestic entity is something that we highly recommend, though it is not required in the sate of New Mexico. This document can be used to define the manner in which the entity should operate. With specific rules set in place between members of the corporation, future disputes can be resolved with reference to this document. Take a moment to review our free template located in the heading of this paragraph, provided in both MS Word and PDF formats.
Renewal– The renewal process in the state of New Mexico requires certain fees dependant on which type of corporation you will be filing for. Domestic profit entities require a biennial report of $25, while domestic non-profits will require the submission of an annual report of $10. Foreign entities on the other hand are a bit different. For a foreign profit entity, a submission of $25 must be made biennially, with non-profits requiring $10 submitted annually. Late fees may be administered towards both domestic and foreign profit entities at $200 while foreign non-profits need only pay $10. Domestic non-profits will be exempt of late fees.