How to open an LLC in New Mexico?
Limited Liability Company is a legal business structure to register with the New Mexico Secretary of State to operate and advertise a business. It is a simple structure and gives protection to your personal assets.LLC can be formed with a single owner only.
How to file New Mexico Articles of Organization?
Article One
Enter name of the LLC you want to incorporate to advertise your business. Check the name availability with the state or reserve before filing the article to register LLC. The business name must be contained with Limited Liability Company, Limited Company, LLC, L.L.C, L.C, LC or Ltd. A DBA name cannot be stated in the LLC name.
Article Two
If the LLC is to have a period of existence other that perpetual, enter the desired end date or period of duration.
Article Three
Enter registered agent complete business address and the name. A registered agent can either be an entity or a person receives mail on your behalf from the departments. A PO Box is not acceptable. A PO Box can only be used for the mailing purpose.
Article Four
Check “YES” only if this statement is applicable. Management of the Limited Liability Company is vested in one or more managers.
Article Five
Check “YES” only if this statement is applicable. The Limited Liability Company is a single member Limited Liability Company.
Article Six
The Articles of Organization will be effective on the file date of the Secretary of State or at any later date if specified.
Date and Execution: Enter the date the document was executed (signed). On the appropriate lines provide the signature of the organizer(s) and the printed names.
Send a check along with the signed articles to register an LLC in NM.
Get an EIN for New Mexico LLC
Apply Employer Identification Number to open a bank account and filing taxes. It is required for all entities are registered with the Secretary of State.
Can a Non US Resident Open an LLC in New Mexico?
A Non US Resident can create an LLC in New Mexico without a social security number. A Non US resident can also appoint a manager to look after daily business affair in his/her absence.
Prepare Operating Agreement for NM LLC
It is not a required document to prepare, to set up an LLC in New Mexico. We recommend you to prepare an operating agreement for your business operation, because some banks and departments may request you to provide it.
Tax Filings for New Mexico LLC:
File S Corporation Election for New Mexico LLC(Optional)
You can file an election with the Internal Revenue Service to treat your LLC an S Corporation for the tax purposes. S Corporation Files Form 1120 S.
File C Corporation Election for New Mexico LLC (Optional)
You can file an election with the Internal Revenue Service to treat your LLC a C Corporation for the tax purposes. C Corporation Files Form 1120.
Disregarded or a Single Member NM LLC
Reports income and loss on Form 1040. It is considered a Sole Proprietorship LLC.
Multi-Member New Mexico LLC
Reports income and loss on Form 1065 and can file as a partnership as well.
Apply for a New Mexico CRS Identification Number
If you are engaged selling taxable tangible items or services, you must obtain a CRS number from Taxation and Revenue Department (TRD) to charge sales tax from the end users on behalf of the state as an agent.
Hiring Employees for New Mexico LLC
You will register for the withholding number and will also buy workers compensation and disability insurances for your employees.
Renew LLC in New Mexico
You must file the annual report annually to keep your company in good standing.
Useful Links:
https://www.tax.newmexico.gov/Businesses/register-your-business.aspx
