LLC Cost in New Mexico

New Mexico LLCs are relatively inexpensive — especially when you consider that an LLC can protect your personal assets and help grow your business. That’s why forming an LLC is the best choice for most small businesses. 

The cost to form an LLC in New Mexico is $50. This covers the primary cost of officially registering your LLC with the state.

Read our LLC Cost in New Mexico guide below to learn more about LLC costs and other fees associated with all New Mexico businesses.

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You can form an LLC yourself and save a little money or use a professional service and save a lot of time. 

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How Much Is an LLC in New Mexico?

New Mexico LLC Filing Fee: $50

To form an LLC in New Mexico, you'll need to file the Articles of Organization with the Secretary of State. The New Mexico Secretary of State charges a $50 fee to process and record this online

You can complete this process yourself with our How to Start an LLC guide or use an LLC formation service.

Registered Agent Fee

Every New Mexico LLC must appoint a registered agent. Your New Mexico registered agent must be a resident of New Mexico and must be available to receive service of process during normal business hours at a designated street address.

You can be your own registered agent in New Mexico, or you can use a registered agent service for a minimal cost.

Recommended: Get free registered agent services for one year when you form an LLC with Northwest ($29 plus state fees).

Cost to Form a Foreign LLC in New Mexico: $100

LLCs registered in another state that want to expand into the state of New Mexico must register as a foreign LLC in New Mexico.

The cost for registering a New Mexico foreign LLC is $100. You can register a foreign LLC in New Mexico by filing an Application for Registration with the Secretary of State.

Business Licenses and Permits

Your business might need federal, state, and local permits/licenses to legally operate in New Mexico, depending on your industry and geographical location. This is true whether you form an LLC or any other type of business structure.

Learn more about state and local licensing in our New Mexico business license guide.

Other New Mexico Business Filing Fees

There are fees associated with other, optional business filings in New Mexico.

LLC Name Reservation

You can reserve a business name for your LLC for up to 120 days by filing an Application for Reservation of a Domestic Limited Liability Company Name and paying the $20 filing fee. 

Certified Document Copies 

You can get certified copies of your New Mexico business documents by ordering them through the Secretary of State. You will need to create a user account and then select the “Certified Copy Requests” service in order to do this. The fee will depend on what document(s) you want certified and/or copied. 

Certificate of Good Standing

You can obtain a New Mexico Certificate of Good Standing by ordering through the Secretary of State and paying the $25 fee. 

A Certificate of Good Standing is often required by banks and lenders.

Recommended: Learn more about LLC formation services in our Best LLC Services review.

How to Start an LLC in New Mexico

Forming an LLC yourself is easy; just follow the five steps below.

Five Basic Steps to Start an LLC in New Mexico

Step 1: Name Your New Mexico LLC

Step 2: Choose a Registered Agent

Step 3: File a Articles of Organization

Step 4: Create an Operating Agreement

Step 5: Get an EIN 

Step 1: Name Your New Mexico LLC

When you name your New Mexico LLC, you’ll need to choose a name that:

  1. Is available for use in the state of New Mexico
  2. Meets New Mexico naming requirements
  3. Is available as a web domain

Check web domain (URL) availability with GoDaddy:

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Not sure what to name your business? Check out our free LLC name generator.

Step 2: Choose a Registered Agent

New Mexico LLCs are required to appoint a registered agent to receive service of process. Business owners can hire a registered agent service or appoint any New Mexico resident that is 18 years or older and is available during normal business hours at a specified address to receive service of process.

Recommended: Northwest offers one full year of registered agent services with their $29 (plus state fees) LLC formation package.

Step 3: File a New Mexico Articles of Organization

To form an LLC in New Mexico, you must file the Articles of Organization with the Secretary of State. This can be done online through the Mexico Secretary of State’s website. 

For a closer look at the filing process, check out our New Mexico Articles of Organization guide.

Step 4: Create an LLC Operating Agreement

Operating agreements are not required for New Mexico LLCs, but it’s a good practice to have one.

An operating agreement outlines the ownership and operating procedures of an LLC, ensuring that all members are on the same page and reducing the risk of conflict down the line.

Learn more in our New Mexico LLC Operating Agreement guide.

Step 5: Get an EIN

An Employer Identification Number (EIN) is a nine-digit number issued by the IRS to identify businesses for tax purposes. Think of an EIN as a Social Security number for your LLC.

To learn how to get an EIN for free, visit our How to Get an EIN Number guide.

LLC Cost in New Mexico FAQ

What is the cheapest way to start an LLC in New Mexico?

The cheapest way to start an LLC in New Mexico is to handle the registration process individually. In order to do this, you will need to follow these steps:

  1. Name your LLC
  2. Choose a registered agent: This can be a registered agent service or an individual.
  3. File the New Mexico Articles of Organization: The filing fee for this is $50, which can be paid online. 
  4. Create an LLC operating agreement: This is usually not a legal requirement, but it is highly recommended.
  5. Get an EIN: This is basically your business’s Social Security number (SSN).

How much does an LLC cost per year in New Mexico?

There are no annual report fees in New Mexico. There are also no other filing requirements, meaning that it costs $0 to maintain your New Mexico LLC following its registration. 

For a more in-depth analysis, see our How Much Does an LLC Cost? article. 

How much does an LLC license cost in New Mexico?

An LLC is not a business license, but a business entity. Forming an LLC in New Mexico costs $50. There are no annual report fees. 

You may be required to pay additional fees if you choose to pay for a  registered agent service, an LLC formation service, or an LLC attorney.

See our How to Start an LLC in New Mexico for more information on registering your business as an LLC.

Do LLCs pay taxes in New Mexico?

Yes, LLCs are a “pass-through” tax entity. This means that the LLCs profits are “passed through” directly to its owner(s), who then pay income taxes independently. 

This is advantageous compared to a corporation’s tax structure because it means that LLC members are not taxed twice. 

Having said that, readers should keep in mind that LLCs are very flexible when it comes to how they can be taxed, and — depending on the specifics — they can choose to be taxed as a pass-through entity, a C corp, and an S corp. 

For more information, see our How Is an LLC Taxed guide. 

What are the tax benefits of an LLC?

The tax benefits of an LLC will depend on how you choose to be taxed, as well as on whether you are operating as a single or multi-member LLC. 

Generally speaking, LLCs can choose to be taxed in several different ways, including:

  • As a sole proprietorship or general partnership
  • As a C corporation
  • As an S corporation

See our Single-Member LLC Taxes guide for a detailed overview of the tax benefits of having an LLC as a small business. 

Do I need to open a business bank account for my LLC?

Even though you do not necessarily “need” to open a bank account for your LLC, this is generally highly recommended for several reasons. 

For one, having a separate bank account can allow you to maintain your LLC’s corporate veil — meaning that you will not risk losing your limited personal liability under the law. A business bank account also offers financial benefits, including the ability to build business credit more quickly and access to larger business loans. 

Interested in opening a business bank account? See our review of the best banks for startups in 2024.