New Mexico LLC Formation Experts

New Mexico's Secretary of State requires every limited liability company name end with a variation of "limited liability company" or "limited company". Such variations include but are not limited to "LLC", "Limited Liability Company", "Limited Company", "Limited Liability Co.", "Limited Co.", "Ltd. Company", "L.L.C.", "L.C.", "LC.", "Ltd. Co.", "LC", etc. If you do not select one of these endings, then we will add LLC by default to make the name compliant.

Can you file for an LLC on your own? Yes, however the largest reason not to is because your name will be entered into a public database when you file the Articles of Organization. You cannot both set up the limited liability company AND remain anonymous because you will be considered the Organizer. You also will be forced to purchase an operating agreement since the Secretary of State does not provide one.

Our New Mexico Registered Agent service ensures your company's compliance with state requirements while prioritizing your privacy and convenience. Included in all our packages, even the most basic, is access to our business address, eliminating the need to expose your personal information. Our professional agents handle paperwork, receive documents on your behalf, and maintain your anonymity.

The primary reason not to register the LLC yourself is the privacy aspect. We have clients call us every week who tried to save a few dollars doing it themselves. They quickly found out one mistake cost them more than money. Having us set up your LLC also provides you with a number of important documents and a help line in case you have any questions.

There are other providers. However, most of them tend to be large national incorporation companies. They charge more, take longer and care less than we do. Some of them are simply just resellers of local incorporation and virtual office providers such as us. There are no call center employees here, nor will you ever be passed off from one person to another.

The new tax laws bring benefits for pass through entities such as LLCs. For many, these savings cover the cost of formation. Limited liability companies have the most flexible taxation of any business entity. By default, they are taxed as pass through entities and not subject to double taxation.

What tax forms are needed for an LLC? Generally none because the company's earnings flow directly onto your personal income statement and the company does not file its own tax return or pay taxes. This is something those selling Wyoming LLCs and Nevada LLCs do not tell you... you cannot actually benefit from their lack of state taxes because where you live determines the tax rate.

Forming a limited liability company can both reduce your top line tax rate and increase the number of deductions you are eligible for, regardless of where you organize your company. These benefits make it even more disadvantageous to operate as a sole-proprietorship. Learn more here about New Mexico LLC taxes  and New Mexico Corporations  by clicking the respective links.

Only a few states actively compete for new business formations. You will commonly see these states touted online as a great place for e-commerce companies, real estate investors and holding companies. Each goes after its own share of the market with Wyoming and New Mexico being favorites for their low fees and privacy. Find which state is for you on our page comparing LLCs in New Mexico to Wyoming LLCs, Nevada LLCs and Delaware LLCs. There we address questions such as why you shouldn't form an LLC in Wyoming, are Wyoming LLCs anonymous and where is the best place to start an LLC?

What is the next step after filing an LLC? The first thing to do is sign your Operating Agreement. An operating agreement sets the rules for the company and should be signed by every member. If there is one member, then the agreement is relatively simple. This is because the member needs to establish a few guidelines, but does not need protection from other members.

For multi-member LLCs an operating agreement is more important. It defines the rules each owner and manager must follow, plus it defines the ownership percentages. It is important to establish these early on. Imagine waiting a few years down the road, after loans and distributions are made, without writing down who owns what.There will be transfers in and out, memories will fade and the judge will have a hard time determining who owns what percentage. While dramatic, this highlights the risk of not signing and updating your agreement.

The next questions is whether to choose a Member Managed Operating Agreement or a Manager Managed Agreement. This is a question of who manages the company day-to-day. Either the members (owners) or a manager(s) elected by the members. The key difference is in who makes daily decisions for the company, e.g. signing contracts and opening a bank account. Note, members may elect themselves as a manager if other partners want to remain silent. Follow our link to learn more about New Mexico LLC Operating Agreements.

An EIN is required if you are going to do business and enjoy the benefits of the LLC. A single member LLC may decline to obtain an EIN, but then all of the company and personal accounts will be linked. This lack of separation could create serious asset protection issues down the line. It also makes it harder to obtain the tax benefits listed above.

For these reasons, we advise every client obtain and EIN and open a bank account in the company's name. You may follow our free EIN guide (located in the "Resources" tab of the navigation bar), or you may have us obtain it for you. Discover more on our page about how to get an EIN for a NM LLC.

The idea behind the corporate veil is that a company is separate from its owner. The company may enter into contracts and assume debt. This separation helps protect the owners personal assets from business creditors. A corporate creditor cannot "pierce the veil" and go after the owner's personal assets. Anonymously owning an LLC also provides the benefit of making it harder for a creditor to prove what you own and go after your hard earned assets.

How do you start a small business in New Mexico? Through our portal you receive Articles of Organization, an Operating Agreement, Resolution to Open a Bank Account and more. We complete these document using your information. Other providers often supply templates which you must fill out. All of our New Mexico LLC forms are ready to print and sign! The way it should be.

New Mexico's Secretary of State has no requirements outside of maintaining a NM Registered Agent Service. This is the only thing required to avoiding having your New Mexico LLC be dissolved. On this page we also answer the question of how to dissolve an LLC in New Mexico.

This page addresses common questions such as "How much does it cost to form an LLC in New Mexico?". Learn more on our page about NM LLC annual fees and reports.

A sole-proprietorship is when you run a company using either your personal name or just a DBA. Sole-props pay MORE in taxes and have no corporate veil. This means if there is an accident or bad debt then you are PERSONALLY liable. Even seemingly simple hobbies would do well to consider forming a limited liability company. Even if you are the only owner, there are good reasons to form a New Mexico Single Member LLC.