Forming an LLC in New Mexico
Forming an LLC in New Mexico in 7 easy steps
- Your LLC will need an appropriate name. It cannot be the name of another LLC and you must also stay away from trademark violations. The name you choose must contain an LLC identifier, e.g. “Limited Liability Company” or an abbreviation such as “L.L.C.”.
- Hiring an attorney is not obligatory when forming an LLC in New Mexico. Letting an attorney check the Operating Agreement is common nevertheless, because a faulty agreement can lead to severe tax problems for the LLC and its members further down the road.
- Pay a visit to the New Mexico filing office where you file the Articles of Organization and pay the filing fee. In the state of New Mexico, the minimum filing fee is $50. (For 25 business days.)
- Arrange an Organizational Meeting where the members of the LLC adopt the Operating Agreement. With a formal adoption of the agreement, you will not be able to proceed to step five, six and seven.
- Obtain a Federal Employer Identification Number (FEIN) for the LLC.
- Open up a company bank account.
- Obtain local business licenses from the cities and counties where you plan on being active. Also check if you need any permits.
Maintaining an LLC in New Mexico
Unlike most states, New Mexico does not require LLC’s to hand in annual reports and there is no annual report fee.
