How To Fill Out The New Mexico Articles Of Organization
Are you interested in forming a Limited Liability Company (LLC) in New Mexico, but don’t know what steps to take? The LLC is a popular business entity as it provides many benefits to its owners, such as protecting personal assets from business liabilities and offering potential tax advantages.
If this is something you’re looking into, read on for an overview of how to fill out the Articles of Organization and create a New Mexico LLC.
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Steps To Fill Out The New Mexico LLC Articles Of Organization
The paperwork to officially create an LLC in New Mexico is called the Articles of Organization.
I’ll break down the steps to show how to fill out the New Mexico Articles of Organization so you can get your LLC up and running. To get started, visit the New Mexico Secretary of State’s Corporations and Business Services website and create an account.
After login in, click on “Corporations” and then “(Domestic) NM LLC Formation.”
Step 1: Pick a Name for the LLC
The first step in forming a New Mexico Limited Liability Company is to make sure the name you want is available, as each LLC name has to be different from other registered entity names in the state of New Mexico.
In addition to the name being unique, the entity designator (identifier used at the end of the business name) must be either:
– Limited Liability Company
– Limited Company
– Limited Liability Co.
– Limited Co.
– Ltd. Company
– Ltd. Co.
– Ltd Co
If you haven’t verified already, be sure to do a New Mexico LLC name search with the Secretary of State to be sure the LLC name you want is available by entering a name in the second box and clicking on “Search Entities.”
Step 2: Choose the LLC Effective Date
The effective date refers to the date when the LLC is legally able to transact business.
If you want the LLC to start immediately (as most will), choose today’s date. If you want the LLC to start later, enter a date less than 90 days in the future to start.
Step 3: Enter the Period of Duration and Business Purpose
In the first box, we are being asked about the LLC’s period of duration, which is asking if there is a specific date in mind to close the LLC. If you intend the business to exist forever, which most businesses do, leave “Perpetual” selected. If you have a specific end date in mind (typically used for investment-related businesses), choose how long the LLC will operate after selecting “The period of duration is.”
The next field is an optional section where the Secretary of State asks for basic information about what the business will do. Some will use a statement that keeps the business purpose open-ended that says, “The LLC will and engage in any lawful business activity for which a Limited Liability Company may be organized in New Mexico,” while others may provide more detail.
Step 4: Appoint a Registered Agent
Every New Mexico LLC must have a registered agent who is responsible for receiving legal documents on behalf of the LLC. The registered agent must either be a New Mexico resident or a business with a physical office in the state of New Mexico.
You can either appoint an individual such as yourself as the registered agent or appoint someone else, such as a friend, or family member (Select “Individual”), or an entity such as a professional registered agent service (Select “Entity”).
The main requirement to be a New Mexico registered agent is that the agent will be available during normal business hours at the physical address that is listed in the Articles of Organization.
Related: Who can be a New Mexico registered agent?
Step 5: Provide Address and Contact Information
Next, there are a few fields related to the location of the business.
First, the email and phone number are requested. These are optional fields, but I would consider adding them as it gives the Secretary of State a way to contact you.
Then, the address of the principal place of business is required. In this section, enter the street address, city, state, and zip code of the initial principal office. This address can be the LLC’s physical address, or it can be the address where the business records are stored. You may not use a PO Box for the principal place of business, but it can be the same as the Registered Agent to provide some additional privacy.
Last, you can enter a mailing address if you prefer mail from the Secretary of State to be sent somewhere other than the principal place of business. This doesn’t have to be in the state and can be a PO Box if preferred.
Step 6: Enter the Managers and Members of the LLC
This section asks for information regarding the LLC’s managers and members.
– Managers, are people hired by the members to run the LLC, similar to a CEO of a corporation (not common for smaller LLCs). Include the contact information of any managers and if the LLC is managed by a manager, select “Yes” or “No.”
– Members are the owner(s) of an LLC. Enter the contact information of any members. If the LLC is owned by just one person, click “Yes” on the statement “The Limited Liability Company may carry on its business and affairs as a single member Limited Liability Company.”
At least one member must be entered.
Step 7: Provide the Organizer’s Information
Next, enter the name and mailing address of the LLC organizer(s) who are forming the entity. This can be an individual, such as an LLC member or attorney, or a business, such as an LLC formation service.
An email address and phone number are requested. I would recommend including these if there are problems with filing the Articles of Organization. Otherwise, the Secretary of State will mail questions which will delay the formation of your LLC.
Step 8: Upload the Signed Statement of Acceptance by the Registered Agent
A signed statement from the registered agent accepting the appointment is required before filing the Articles of Organization. Have the registered agent sign the document and upload it.
Step 9: Upload any Additional Articles
If there are additional items you wish to include regarding the formation of the LLC (not common), attach them in this section.
Step 10: Certify the Articles of Organization
In step 10, the Organizer will need to certify the Articles of Organization. To add an Authorizer’s Name, click on the “Authorized By” box found in step 7
Step 11: Review the Articles of Organization
Next, review the submitted information to ensure it is correct. If everything is correct, click “Continue.”
Step 12: Pay and Submit the Articles of Organization
Last, enter your method of payment and submit the Articles of Organization to the New Mexico Secretary of State!
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New Mexico LLC FAQs
How much does it cost to form an LLC in New Mexico?
The filing fee to submit the Articles of Organization with the New Mexico Secretary of State is $50.
Is there an annual fee for an LLC in New Mexico?
The New Mexico Secretary of State does not require LLCs to file an Annual Report or pay an annual LLC fee.
How long does it take to form an LLC in New Mexico?
It normally takes 2-3 business days for the New Mexico Secretary of State to process the LLC paperwork.
When is a registered agent needed in New Mexico?
All corporations and LLCs in New Mexico are required to have and maintain a registered agent.
The registered agent is a party that is physically located in the state of New Mexico that will receive important notices and service of process (which means to accept papers that start a lawsuit) on behalf of the LLC.
Related: Who can be a New Mexico registered agent?
Should I use an LLC formation service or do it myself?
Two of my top formation companies have a special offer where you can get your LLC formed without paying any additional fees (state fees still apply). Check out Zenbusiness and IncFile to learn more.
Does New Mexico require an LLC to have an operating agreement?
While there is no state law requiring a New Mexico LLC operating agreement, it is recommended to have one, especially for multi-member LLCs, as it can help to prevent disputes among members and protect the LLC’s legal status.
What business licenses are needed in New Mexico?
The requirements for business licenses and registrations in New Mexico vary depending on what the business does and where it’s located.
Here is a list of common business licenses in New Mexico.
Do New Mexico LLCs need an EIN?
Only New Mexico LLCs that either have more than one member, will hire employees, or elect to be taxed as a partnership or corporation are required to get an Employer Identification Number (EIN).
The EIN or Employer Identification Number (also called a Federal Employer Identification Number or FEIN) is a unique 9-digit tax identification number that is assigned by the Internal Revenue Service (IRS).
If the LLC isn’t required to get an EIN (though you can still get one), the LLC will use the social security number of the business owner.
Related: How to Apply for an EIN