New Mexico LLC Requirements

Updated for 2026 · Official Secretary of State Website

New Mexico is one of the simplest and most affordable states for LLC formation — just $50 with no annual report required. The state also doesn't publicly list LLC member names in formation documents, providing a degree of privacy. New Mexico's low costs and minimal ongoing requirements make it popular for small business owners seeking minimal paperwork.

Filing Fee

$50

One-time state fee

Annual Fee

Per year

Processing

1-2 business days

Online filing

Deadline

N/A

Annual report due

Below Average Cost

New Mexico's $50 filing fee and $0 ongoing costs tie it with Missouri as one of the cheapest states for total LLC ownership over time.

Notable Facts About New Mexico LLCs

New Mexico requires no annual report and charges no recurring fees for LLCs
LLC member names are not required on public formation documents, offering some privacy
The state has one of the simplest LLC maintenance requirements in the nation
New Mexico's Gross Receipts Tax functions differently from a traditional sales tax

Tax Information for New Mexico LLCs

New Mexico has a progressive individual income tax with rates from 1.7% to 5.9%. LLCs taxed as pass-through entities pay at individual rates. There is no franchise tax or annual LLC fee. The Gross Receipts Tax (5%-9.3% depending on location) applies to most business transactions.

Formation Steps

1

Choose a Name for Your LLC
Select a unique business name that complies with New Mexico naming requirements. The name must include "LLC" or "Limited Liability Company" and cannot be the same as an existing registered business in New Mexico.
2

Appoint a Registered Agent
Designate a registered agent with a physical address in New Mexico who can receive legal documents and official correspondence on behalf of your LLC.
3

File Articles of Organization
Submit your Articles of Organization (also called a Certificate of Formation in some states) to the New Mexico Secretary of State. This is the official document that creates your LLC.
4

Create an Operating Agreement
Draft an operating agreement that outlines ownership percentages, member roles, profit distribution, and management structure of your LLC. While not always legally required, it is strongly recommended.
5

Get an EIN from the IRS
Apply for a free Employer Identification Number (EIN) from the IRS. You'll need this for opening a business bank account, hiring employees, and filing taxes.
6

Open a Business Bank Account
Open a dedicated business bank account to keep your personal and business finances separate. This helps maintain your LLC's liability protection.

Visit Official SOS Website

Need a Registered Agent in New Mexico?

Every New Mexico LLC must have a registered agent with a physical address in the state. A registered agent service ensures you never miss important legal documents or compliance deadlines.

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Frequently Asked Questions

How much does it cost to form an LLC in New Mexico?

The state filing fee to form an LLC in New Mexico is $50 for the Articles of Organization. This cost is below average compared to other states. Additional costs may include a registered agent service ($50-$300/year) and an operating agreement if you hire an attorney.

What is the annual cost of an LLC in New Mexico?

New Mexico does not require LLCs to file an annual report or pay an ongoing annual fee to the state. New Mexico's $50 filing fee and $0 ongoing costs tie it with Missouri as one of the cheapest states for total LLC ownership over time.

How long does it take to form an LLC in New Mexico?

Online filing in New Mexico typically takes 1-2 business days. You'll need to file Articles of Organization with the state. Processing times may vary based on filing volume and the time of year.

Do I need a registered agent in New Mexico?

Yes, New Mexico requires every LLC to have a registered agent with a physical street address in the state. The registered agent receives legal documents, tax notices, and official government correspondence on behalf of your LLC.

What taxes does a New Mexico LLC pay?

Does New Mexico require an operating agreement for LLCs?

While not all states legally require an operating agreement, it is strongly recommended for every LLC in New Mexico. An operating agreement defines ownership structure, member roles, and how the business will be managed. Without one, your LLC will be governed by New Mexico's default LLC laws.