New Mexico LLC Formation
If you want to form a business entity that earns a profit, but limits taxes and personal liability, you may want to consider forming a Limited Liability Company (LLC). LLCs also have the same powers afforded to a corporation. Forming an LLC in New Mexico is easy, fast, and affordable.
| New Mexico LLC Costs | |
|---|---|
| TotalLegal Fee | $99 |
| New Mexico Filing Fee | $51.25 |
| Total | $150.25 |
Naming the LLC
The name of each LLC must contain the words "Limited Liability Company" or the abbreviations "LLC" or "L.L.C."
Required Information
You will need to provide the name of your LLC, the business address of the LLC, the Registered Agent's name and physical address, and the name(s) and address(es) of the member(s)/owner(s) and organizer(s) of the LLC.
Steps to Forming a New Mexico LLC
- Complete the TotalLegal online interview.
- TotalLegal performs an LLC name availability search.
- TotalLegal will file your LLC with the New Mexico Secretary of State.
When approved, TotalLegal will upload your Articles of Organization to your account, and send you an email letting you know you are approved to do business in New Mexico.
New Mexico LLC Advantages
- A low state filing fee.
- Fast approval times. Since TotalLegal files electronically for you, your LLC is typically approved in a week or two.
- No annual reporting requirements.
Maintaining a New Mexico LLC
Unlike most other states, New Mexico does not require LLCs to file annual reports or pay an annual renewal fee.
Making Changes to Your LLC
Making changes to your LLC in New Mexico inexpensive compared to other states. Most amendments and changes cost around $50. Changing your Registered Agent can be done online on the New Mexico Secretary of State's website. All other change forms can be downloaded from the New Mexico Secretary of State's website.
Why use TotalLegal?
TotalLegal provides your LLC with a free Operating Agreement, which makes opening a bank account for your LLC in New Mexico much easier.