Start an LLC in New Mexico in 5 Simple Steps.
Step 1: Give Your New Mexico LLC a Name
Step 2: Select a Registered Agent.
Step 3: File the Articles of Organization.
Step 4: Draft an Operating Agreement.
Step 5: Obtain an EIN
It is simple to form an LLC in New Mexico.
To establish a New Mexico LLC, you must first submit the Articles of Organization with the New Mexico Secretary of State, which costs $50. You may submit your application online. The Articles of Organization are the legally binding documents that establish your New Mexico Limited Liability Company.
STEP 1: Give your New Mexico LLC a name.
The first and most crucial step in organizing a New Mexico LLC is selecting a business name. Make certain that the name you pick conforms with New Mexico naming regulations and criteria and is readily searched by possible company customers.
1. Stick to the following name criteria for your New Mexico LLC:
The word “limited liability corporation” or one of its acronyms must be in your name (LLC or L.L.C.).
Your LLC’s name cannot include terms that may be confused with a government organization (FBI, Treasury, State Department, etc.).
Restricted terms (e.g., bank, attorney, university) may need extra legal documentation and the participation of a licensed professional, such as a doctor or lawyer, in your LLC.
STEP 2: Select a Registered Agent in New Mexico for your LLC.
You must name a New Mexico registered agent for your New Mexico LLC.
What exactly is a Registered Agent? A registered agent is a person or corporate organization that accepts vital legal papers on your behalf. Consider your registered agent to be your company’s point of contact with the state.
Who is eligible to be a Registered Agent? A Registered Agent must be a New Mexico person or a company, such as a registered agent service, that is permitted to do business in New Mexico. You may choose someone from your organization, even yourself.
STEP 3: Submit the Articles of Organization for the New Mexico LLC.
You must submit the Articles of Organization with the New Mexico Secretary of State to register your New Mexico LLC. You may submit your application online. In addition, you must submit a Statement of Acceptance of Appointment by Designated Initial Registered Agent, which must be signed by your registered agent.
STEP 4: Draft an Operating Agreement for a New Mexico LLC.
An operating agreement is not necessary in New Mexico for LLCs, although it is recommended.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
STEP 5: Obtain an EIN
What exactly is an EIN? EIN is an acronym that stands for Employer Identification Number. EINs are nine-digit numbers provided by the Internal Revenue Service (IRS) to companies to assist them be identified for tax reasons. It is basically a business’s Social Security Number.
An EIN is also known as a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN) (FTIN).
Why do I need an EIN? An EIN is necessary in order to:
Establish a business bank account.
Filing and managing federal and state income taxes
Employ people
What if my single proprietorship already has an EIN? When transitioning a sole proprietorship to an LLC, the IRS demands a new EIN.
Where can I get an EIN? The IRS will provide you an EIN for free. Obtaining an EIN is a simple procedure that may be completed online or by mail.