If you already have an LLC in another state and want a New Mexico LLC, then starting an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in New Mexico.
On this page, you’ll learn about the following:
- Forming an New Mexico Foreign LLC
- Steps to Filing New Mexico Foreign LLC
- After Forming New Mexico Foreign LLC
Forming an New Mexico Foreign LLC
A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in New Mexico, you need to register it with the New Mexico Secretary of State.
Step 1: Choose New Mexico Foreign LLC Name
Obtain a name reservation certificate and submit it with your foreign qualification requirements at the New Mexico Secretary of State. Your LLC’s legal name outside of New Mexico will be listed on the application, along with the name it will use in New Mexico. Take note of the requirements for naming your LLC.
Step 2: Select New Mexico Foreign LLC Registered Agent
You’ll need a registered agent to form a foreign LLC in New Mexico and take note that a New Mexico registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:
Step 3: File Registration of New Mexico Foreign LLC
Fill out and submit a Foreign LLC Application for Registration form via email to [email protected] or by mail to Secretary of State Corporations Bureau Chartered Documents Division 325 Don Gaspar, Suite 300 Santa Fe, New Mexico 87501.
Include the following:
- LLC’s full legal name.
- A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
- LLC’s principal office and mailing addresses.
- LLC formation state and date.
- Registered agent’s name and address in New Mexico
- Date when your LLC will start operations in New Mexico.
- Credit card information on the last page of the form for the $150 application fee.
The LLC cost in New Mexico, even for foreign LLCs will differ between online filing and by mail.
Step 4: Determine How Your New Mexico Foreign LLC is taxed
Foreign LLCs are also subjected to the New Mexico Business Privilege Tax, and they must file LLC annual reports each year.
Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.
Steps to Filing New Mexico Foreign LLC
Time needed: 5 minutes.
To start your foreign business through a limited liability company in the State of New Mexico, you must apply for Foreign Business Registration with the Secretary of State office. The cost of registration is $100. Once your application is approved, you shall receive a certified copy of your business registration document from the Secretary of State’s office. We have explained the aspects you need to cover when you register your foreign business in the State of New Mexico.
- Visit the Official Secretary of State of New Mexico website
Go to the Business services section on the official website of the Secretary of State of New Mexico. The website offers online application filing options for different business-related activities for foreign businesses. Access the E-File Portal by clicking on the link, “Application for Registration (to conduct businesses in NM)”.
- Download the Application form PDF
Upon clicking the link, the page navigates to a new page containing the Foreign Limited Liability Company Application for Registration. Download the application form PDF on your device. You can also download the Application Form PDF here.
- Follow the instructions
Make sure to read all the instructions attached to the application form carefully and accordingly fill in all the details in the form. After filling in the details, review the application to ensure that all the information entered by you is true and correct to your knowledge. Do not skip any mandatory section as well. You must also fill out the Statement of Acceptance of Appointment by Designated Initial Registered Agent form attached to the original application form.
- Make the Payment
Once you have covered every aspect of your application form, you can proceed to make the payment of $100 as the filing fee of your application. You can issue a money order or cheque payable to the New Mexico Secretary of State or NMSOS.
- Mail the application
After making the payment, arrange all the documents together and mail it to the following address, New Mexico Secretary of State Business Services Division 325 Don Gaspar, Suite 300 Santa Fe, NM 87501.
After Forming New Mexico Foreign LLC
Here are added things you need to accomplish after forming your New Mexico Foreign LLC
- Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
- File LLC annual reports and Business Privilege Tax.
- Pay State Taxes like sales tax; you’ll need an EIN for your LLC.
It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form a foreign LLC in New Mexico.
How Much Does It Cost to Register a Foreign LLC in New Mexico
To register as a foreign LLC in New Mexico, you can file online by paying a filing fee of $100 to the New Mexico Secretary of State.
Whether you are a foreigner moving to New Mexico or you are a local businessperson looking to expand your business, it’s important to understand the requirements of doing business in New Mexico. Although New Mexico does not have any specific laws in regards to DBAs (doing business as), it does have its own requirements regarding the formation of a foreign LLC. In addition, if your business has employees who reside in New Mexico, you may be required to register for foreign qualification.
If you are wondering how much does it cost to register a foreign LLC in New Mexico, the answer is simple: you pay a nominal fee. This fee can range from a few dollars to a few hundred dollars. The fee is required to get a registered agent for your LLC. The agent will be your point of contact with the state and will handle the qualification and filing processes for you.
In addition to the fee, you will also have to pay federal and state taxes. This is because your LLC will be subject to sales tax, self-employment tax, and payroll tax. Depending on your business, you may also have to obtain permits or licenses from the state or federal government.
You may want to check out the official website of the New Mexico Secretary of State. They have a handy online portal for filing your LLC’s paperwork. It’s also a good idea to appoint a professional registered agent. This person will be able to save you time, and ensure that the forms are filed correctly.
There are many things to consider when registering a foreign LLC in New Mexico. For example, you may want to consult an attorney to determine the tax structure best for your business. There are also specific rules and regulations in regards to names and naming schemes. Choosing the right name is also an important factor. For example, a trade name might be the right decision for you, but you should be careful not to use it as your LLC’s name if it is too similar to another existing LLC.
For a nominal fee, the New Mexico Secretary of State will send you the most important document you’ll need to do business in New Mexico. This document is the Certificate of Good Standing or the Certificate of Existence. This document is important because it verifies your business’s compliance with New Mexico laws. The certificate should be current within 30 days of the date of your application. The other important requirement is that your business has a New Mexico registered agent. A foreign LLC may not be registered without appointing a New Mexico registered agent.
As with any state, the requirements for registering a foreign LLC are not the same as those of a domestic LLC. For example, a foreign LLC may have to pay the New Mexico Business Privilege Tax, whereas a domestic LLC does not. You may also need to pay other fees.
If your LLC is formed under the laws of another state, it is referred to as a foreign LLC in New Mexico.
Businesses incorporated outside of the state where they operate must have “foreign qualifications” issued in the other states.
A domestic LLC is a company registered in New Mexico as an LLC. The entity type that has a physical presence in another state is a foreign LLC.
Starting a foreign LLC in New Mexico does not require a lot of documentation or tasks. However, it is always good to seek help from a professional when it comes to running your business. Get a professional registered agent and form your foreign LLC anywhere without a hassle.