New Mexico LLC Cost

What does it cost to start a business in New Mexico? The main cost LLC owners have to pay to start their businesses is the cost of their Articles of Organization. However, you might have more costs to pay because of your specific business needs. The following are a handful of fees you can expect to pay when creating a new LLC:

New Mexico LLC Filing Fee – $50

The filing fee for a New Mexico Articles of Organization is $50.

Business Taxes – The rates vary

In New Mexico, your business might have to pay Gross Receipts Taxes, Compensating Taxes, and/or Withholding Taxes. Your Compensating Taxes depend on whether you use property or services in the state, and you owe Wage Withholding Taxes if your LLC has employees. If you sell or lease property, grant franchise rights, or sell or perform certain services in New Mexico, you have to pay Gross Receipts Taxes. Your Gross Receipt Tax rate can be between 5% and 9%.

Registered Agent Fee –Free

You don’t have to pay the state or anyone else to have a Registered Agent for your business. However, it can be well worth it to spend a little cash on this business requirement. A Registered Agent has to maintain a regular, physical presence in the state to accept important documents for your business. You might not want to be tied to your office like this to be your own Registered Agent. For a small fee, you can hire a Registered Agent to accept important legal documents on your behalf.

Our New Mexico Registered Agent Service can help you find the right Registered Agent fast!

Filing your LLC’s Articles of Organization can be relatively inexpensive. But your Articles of Organization might not be the only documents you have to file to run a legally compliant LLC.

Certificate of Good Standing

Chances are, you’ll need some type of assistance from a third party to get your LLC off the ground. This third party could be a bank, an individual investor, or an organization offering business resources. These third parties will likely want to see a Good Standing and Status Certificate before they give you anything. A Good Standing and Status Certificate tells others that your LLC is in compliance with New Mexico law. It costs $25 to obtain this certificate.

DBA Name in New Mexico

If you want to use a name for your LLC that’s different from its official name, that’s called using a “doing business as” or DBA name. A DBA is also known as a Fictitious Name. You might have to register your DBA with the clerk in the county where your LLC operates. For more information on registering a DBA in New Mexico, you can reach out to your county clerk’s office.

Foreign LLC

If you started an LLC outside of New Mexico and you want to conduct business in New Mexico, you need to file an Application for Registration of your out-of-state/foreign LLC. It costs $100 to register your foreign LLC.

Business Licensing

Some businesses need additional authorization from the government to legally operate and serve the public. This additional authorization can come in the form of:

• Business licenses
• Permits
• Registrations

Your license, permit, and registration obligations can come from federal, state, and local government authorities. You might have to pay fees to the federal, state, and local governments for licensing.

Knowing how many licenses your business needs and from where is no easy feat. With our partners at Avalara, we can research your licensing and registration needs at all government levels. Our Business License Report outlines your licensing and registration obligations in one easy-to-read report.

For just $0 plus state fees, we can form your New Mexico LLC for you in just minutes. No LegalZoom promo code required: Pay just $0 plus filing fees for fast LLC formation in New Mexico.

Late payment of your filing fees or business taxes can result in interest, penalties, or the state refusing the formation of your LLC. 

If you don’t pay your formation filing fee, you can’t form an LLC and take advantage of the business structure’s legal protections. If you choose to run your business without paying the fees to make it an LLC or corporation, you’re running your business as a sole proprietorship or general partnership, both of which can expose you to a lot of personal liability. 

The largest fee you will pay depends on the characteristics of your business and your location within the state. In some cases, the largest formation fee a New Mexico LLC has to pay is the $50 required for filing Articles of Organization.

Unlike other business entities in New Mexico, you have to register your LLC online. You can pay for your registration by credit card.