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Forming an LLC in New Mexico
Forming an LLC in New Mexico is quite straightforward, because the entity was designed to suite the needs of small business owners and requires a minimal amount of administration. If you want to make the process even easier, you can hire an incorporation company to do it for you. Hiring an attorney to check the Operating Agreement is not mandatory in New Mexico, but it is still a good idea because an improper Operating Agreement can lead to problems with the IRS later on.
Forming an LLC in New Mexico in 5 easy steps
- The first step is to select a name for your LLC. The company name must include an LLC identifier, such as “Limited Liability Company”, “LLC”, “L.L.C.” or other abbreviations. The name of your company cannot be the same as the name of any other LLC. You must naturally also refrain from violating trademarks.
- The next step is to file Articles of Organization with the New Mexico filing office.
- During step three, the members of the LLC should hold an organizational meeting and adopt an Operating Agreement.
- Once the Operating Agreement has been adopted, the LLC should acquire a Federal Employer Identification Number (FEIN) and arrange to have a company bank account opened up.
- The final step is to acquire local business licenses from each city or county where the LLC plans to do business.
Important facts to take into consideration before forming an LLC in New Mexico
- The minimum filing fee in New Mexico is $50.00. (For 25 business days.)
- An LLC formed in New Mexico is not required to file any annual reports.
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