Resources for Starting and Maintaining a Business in New Mexico
At CorpNet our mission is to help you start your business and help you keep it in compliance. To assist you in your entrepreneurial journey, we’ve collected answers to the most frequently asked questions small business owners have about starting and maintaining a business in the state of New Mexico.
Our goal is to provide you with a one-stop solution for all of your business, payroll tax registrations, and compliance filings. And if we can help you along the way, our team of entity filings and compliance experts is just a call away.
Quick Facts for Starting a New Mexico Business
Expedited Services Available: No
New Business Publishing Required: No
Private Registration Available: Yes
Registered Agent Required: Yes
Annual Report Required: Yes
Franchise Tax Required: Yes
State Sales Tax: 5%
State Income Tax: 4.8%-5.9%
Unemployment Insurance: .33%-6.4%
DBAs do not require a registered agent.
New Mexico Business Entity Options
| Business Entity Type | State Fees | Applicable Form |
| General Partnership | $50 | General Partnership Registration Form |
| Limited Partnership | $50 | General Partnership Registration Form |
| Limited Liability Partnership (LLP) | $50 | Limited Liability Partnership Registration Form |
| Limited Liability Limited Partnership (LLLP) | $100 | Limited Liability Limited Partnership Registration Form |
| Limited Liability Company (LLC) | $50 | Articles of Organization |
| Professional Corporation | $100-$1,000 | Articles of Incorporation |
| Profit Corporation | $100-$1,000 | Articles of Incorporation |
| Nonprofit Corporation | $25 | Articles of Incorporation |
| Regular Cooperative Association | $80 | Articles of Incorporation |
| Marketing Cooperative Association | $8 | Articles of Incorporation |
| Domestic Rural Electric Cooperative Association | $5 | Articles of Incorporation |
| Foreign Limited Partnership (LP) | $100 | Foreign Limited Partnership Registration Form |
| Foreign Limited Liability Partnership (LLP) | $50 | Foreign Limited Liability Partnership Registration Form |
| Foreign Limited Liability Limited Partnership (LLLP) | $100 | Foreign Limited Liability Limited Partnership Registration Form |
| Foreign Limited Liability Company (LLC) | $100 | Application for Registration |
| Foreign Profit Corporation | $200-$1,000 | Application for Certificate of Authority |
| Foreign Professional Corporation | $200-$1,000 | Application for Certificate of Authority |
| Foreign Nonprofit Corporation | $25 | Application for Certificate of Authority |
| Foreign Cooperative Association | $80 | Application for Certificate of Authority |
| Foreign Business Trust | $250 | Application for Certificate of Authority |
Not Sure Which Type of Business You Need?
Launch CorpNet’s Business Structure Wizard to get suggested entities based on your unique needs. It’s free and easy to use.
Key New Mexico Government Resources
New Mexico Secretary of State
New Mexico Capitol Annex North
325 Don Gaspar, Suite 300
Santa Fe, NM 87501
sos.nm.gov/business-services/
New Mexico Department of Revenue
1100 South St. Francis Dr.
Santa Fe, NM 87504-1028
tax.newmexico.gov
Feeling Overwhelmed? CorpNet Is Here To Help!
Below are all the ways CorpNet can help you and your business.
Our knowledge team of experts is here to help and all our services are backed by our 100% Satisfaction Guarantee.
Business Formation and Launch
- Business Name Search
- Business Name Reservation
- Form a New Mexico LLC
- Incorporate in New Mexico
- File a DBA
- Appoint a Registered Agent in New Mexico
- Obtain an Employee Identification Number (EIN)
- Register for New Mexico Payroll Taxes
- Request a Permit for Sales and Use Tax
- Research Required Business Licenses
Ongoing Business Compliance
Additional Resources and Articles
Compare Entities
- Choosing a Business Structure
- Business Structures Wizard
- Sole Proprietorship vs. Partnership
- Sole Proprietorship vs. LLC
- LLC vs. Partnership
- LLC vs. Corporation
- C Corporation vs. S Corporation
- S Corporation vs. LLC
- LLC vs. S Corp vs. C Corp
- DBA vs. LLC
- LLP vs. LLC
- LLC vs. PLLC
- Professional Corporation vs. LLC
- Single Member vs. Multiple Member LLC
- Member vs. Manager-Managed LLC
- Domestic LLC vs. Foreign LLC
Common Questions
- What is a Certificate of Incorporation?
- What is a Certificate of Registration?
- What is a Statement of Information?
- What are Articles of Incorporation?
- What are Articles of Organization?
- What is an Annual Franchise Tax Report?
- What is a Certificate of Authority?
- What is a Statement of Purpose?
- What Is a Fictitious Name?
- What is a Pass-Through Entity?
- What is the Owner of an LLC Called?
- What is the Role of an LLC Organizer?
- What Is a Registered Agent?
- What is a Statutory Agent?
- What is a Reseller License?
- What is a Corporate Resolution?
- What Is a Letter of Good Standing?
Helpful Templates
Need a Small Business Compliance Checklist?
Business compliance can slip through the cracks! As your existing business evolves, you are required to file notify the state of any changes. Many business owners lose sight of these requirements and fail to realize they haven’t met compliance requirements.
Use our compliance checklist to determine which business filings you need to perform to manage this year’s activities and changes.
