If you are looking for the best guide on how to start an LLC in New Mexico, stop scrolling and read this.
Starting an LLC in New Mexico requires legal processes to keep your business working.
So, in this article, we will provide you with a complete guide on how to start an LLC in New Mexico with ease.
How to Start an LLC in New Mexico
Follow the steps below to form your LLC in New Mexico easily.
Choose a Name for Your LLC
In New Mexico, your LLC’s name must contain the words “Limited Liability Company” or “Limited Company,” or one of its abbreviations: “LLC,” “LC,” “L.L.C.,” or “L.C.”
However, your LLC’s name must be distinguishable from the names of other business entities already on file with the New Mexico Secretary of State.
Also, you can check your business Names for availability on the Secretary of State’s business name database.
If it is, you may reserve a name for 120 days by filing an application for Reservation of Limited Liability Company Name with the New Mexico Secretary of State.
Meanwhile, the application must be filed by mail for $20.
Appoint a Registered Agent
Every New Mexico LLC must have an agent for the service of process in the state.
This agent is an individual or business entity that agrees to accept legal papers on the LLC’s behalf if it is sued.
More so, the registered agent may be a New Mexico resident or a foreign or domestic business entity authorized to do business in New Mexico.
However, the LLC may not be its own registered agent, and the registered agent must have a physical street address in New Mexico.
File Articles of Organization
You can form your LLC in New Mexico by filing Articles of Organization with the New Mexico Secretary of State’s office.
However, the articles must include:
- the LLC’s name
- the effective date of filing the Articles
- the LLC’s period of duration–perpetual or a term of years
- the LLC’s purpose–leave blank if LLC has a general business purpose
- the name and address of the LLC’s registered agent
- the LLC’s email address and phone number (optional)
- the address of the LLC’s principal place of business plus mailing address if different
- whether the LLC will be run by a manager or member
- whether the LLC has only one member, and
- the name and contact information for the LLC’s organizer.
More so, the articles must be filed online for $50.
Prepare an Operating Agreement
An LLC operating agreement is an internal document that establishes how your LLC will be run.
Also. it sets out the members’ and managers’ rights and responsibilities, including how the LLC will be managed.
In addition, it can help preserve your limited liability by showing that your LLC is truly a separate business entity.
However, the state LLC law will govern how your LLC operates without an operating agreement.
Obtain an Employers Identification Number
You must obtain an IRS EIN if your LLC has more than one member, even if it has no employees.
Also, if you form a one-member LLC, you must obtain an EIN only if it has employees, or you elect to have it taxed as a corporation instead of a sole proprietorship (disregarded entity).
However, you may obtain an EIN by completing an online EIN application on the IRS website at no filing fee.
Conclusion
As simple as filing an LLC in New Mexico is, you will follow simple guides and requirements to get your LLC running in New Mexico.
The steps have been simplified and explained in this guide on how to start an LLC in New Mexico.
The first step taking how to start an LLC in New Mexico is to Choose a Unique Business Name and Complete a State Business Search.
However, you must note that another business must not have used the name you choose for your LLC and ensure that the domain name is also available.
Also, you must Appoint a Registered Agent, File Articles of Organization with the New Mexico Secretary of State, and Create an Operating Agreement.
In addition, Get an Employer Identification Number (EIN) from the Internal Revenue Service.
We hope you find this guide on how to start an LLC in New Mexico helpful.
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