New Mexico LLC Annual Report
LLCs formed in New Mexico do not need to file an annual report with the state. Only Corporations are required to file an annual report.
What is an LLC?
Limited Liability Company
LLC is a business entity in the U.S that provides limited liability to its members. It has characteristics from both corporation and sole proprietorship. LLCs are permitted under State statutes of each US state.
Limited liability
Personal assets are protected for people with limited liability when they are sued.
Corporation
A business entity that can issue shares and give limited liability to shareholders.
Members
Owners of an LLC are referred to as members. They own membership interest in the LLC.
Sole proprietorship
Where an individual engages in business activity without formal organization.
New Mexico actions
Here are some of the actions business owners can take in New Mexico:
How to file annual report in New Mexico?
Check the steps below:
1. No need to file an annual report
New Mexico LLCs are not required to file an annual report or or pay an annual fee (unlike corporations).
LLC Annual Report
LLCs do not have to file annual reports in New Mexico.
Articles of Organization
In New Mexico, Articles of Organization is the form you file with the Secretary of State to form an LLC. It contains the articles of formation for the LLC.
Filing Articles of Organization
Here's how you file it
File it online on New Mexico Secretary of State website
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Online fee
$50
Online processing time
2 days
Note
While filing online, you must also include a Statement of Acceptance of Appointment signed by your registered agent
Entity name
Every LLC should have a unique name in New Mexico. New Mexico maintains a list of names of entities in the state. Go through it to check if your chosen name is available.
Search for names
Go to the official website of the New Mexico business search tool to see if the name you want is available.
Searching fee
Free
Reservation
You can reserve a name for your LLC for a specific duration by paying reservation fees to the New Mexico corporations bureau. You will have to file your LLC formation documents within this period to keep the name. Alternatively, you can directly go ahead with the LLC formation without any reservation. That's fine too.
Reservation fee
$20
Reservation period
120 days
LLC naming guidelines
The name you choose for your LLC must the official naming guidelines.
NMSA §53-19-3
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Here are some of the guidelines in simple language:
- 1
Shall contain the words "limited liability company" or "limited company" or the abbreviation "L.L.C.", "LLC", "L.C." or "LC". The word "limited" may be abbreviated as "ltd." and the word "company" may be abbreviated as "co.".
- 2
Don’t include terms that indicate that you are doing an activity that you are not authorised to do.
- 3
Your name should be ‘distinguishable’ in the Secretary of State records. Adding a punctuation or ‘the’ does not make it distinguishable.
- 4
Don’t use words that makes it seems like you are a governmental entity or has an affiliation.
Frequently asked questions
LLC annual report in New Mexico
It is very important to maintain full compliance in New Mexico. Even though LLCs do not have to file an annual report. Other entities in the state may have to file them.
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