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Forming a C-Corporation in New Mexico

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How to Form a C-Corporation in New Mexico

Located in the Southwest U.S., New Mexico is one of the largest and least-densely populated states in the union. As a mountain state, it borders with Utah, Colorado, Texas, and Oklahoma, and shares a border with Mexico. It is renowned as a low-tax area, and its economic drivers include agriculture, mineral and oil extraction, and retail.

When forming an C-Corporation in the state of New Mexico, you must complete the following requirements:

  • Select a business name according to requirements
  • File all necessary articles of incorporation and submit filing fees
  • Appoint a registered agent
  • Register your federal tax ID number with the IRS
  • Complete biennial reports
  • Establish at least one director 

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Select Business Name According to State Requirements

  • Name Requirements: Your business name must be unique and cannot be similar to any other registered name in New Mexico.
  • Check availability of your desired name by conducting a name search.

File Articles of Incorporation and Submit Filing Fees

  • Required Documents:
    • The name and address of each incorporator
    • A specific business purpose of the corporation (to which you may also add language stating that the corporation may engage in any lawful business for which corporations may be incorporated under the New Mexico Business Corporation Act)
    • The names and addresses of the corporation’s initial directors
    • The number of shares that the corporation is authorized to issue
    • If applicable, the articles must have a designation of each class and series of shares, as well as statements of their relative rights and the authority of the board to divide or change the designation of such shares
      • The street address of the corporation’s initial registered office
    • The name of the new corporation’s initial registered agent at that office
    • The corporation’s period of duration if it is not to be perpetual
    • Any shareholder preemptive rights
  • Filing Fee: $25 with an optional $100-150 expedite fee
  • Processing Time: Approximately 3 months
    • For a turnaround time of 2 business days, you can remit a $100 expedite fee
    • For a turnaround time of 1 business day, you can remit a $150 expedite fee

Appoint a Registered Agent

  • A New Mexico registered agent is the person or company that is responsible for receiving any legal notices concerning your business.
  • All NM business entities are required to have a registered agent.
  • When forming an LLC in New Mexico, you have 3 options:
    • Option 1: You can be your LLC’s Registered Agent.
      • If you have a street address located in New Mexico (such as a home or office), and are available during business hours, you can list yourself as the Registered Agent.
    • Option 2: A friend or family member can be your LLC’s Registered Agent.
      • If you do not have a street address in New Mexico, you can use a friend or family member’s address.
      • They need to have a street address in New Mexico and be available during business hours.
    • Option 3: You can hire a Commercial Registered Agent.
      • If you do not have a street address in New Mexico, and you don’t have a friend or family member’s address that you can use (or prefer not to), you can hire a Commercial Registered Agent.

Register Your Federal Tax ID Number with the IRS

  • An EIN is required for corporations that will have employees.
  • All businesses are required to obtain a state tax identification number by filing a New Mexico State Tax ID Form

Complete Biennial Reports

  • Frequency: Biennially
  • Annual Report Deadline: Four months and fifteen days after the close or your fiscal year, usually May 15th.
  • Filing Fee: $25
    • A $200 late fee will accrue if you fail to file prior to the deadline.

Establish at Least One Director 

  • Director Requirements: Must have one or more directors.
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