New Mexico Registered Agent Services | LLC Registered Agent

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If you are trying to form a New Mexico LLC, then take note that in this state, starting an LLC requires having a New Mexico registered agent who will handle all official paperwork on the LLCs behalf. 

New Mexico Registered Agent Requirements

There are certain requirements to fill the role of a New Mexico registered agent:

  • The nominee must be more than 18 years old.
  • The individual must have a legal, physical address in the state where the LLC will operate.
  • The individual must be physically present during normal working hours.

How to Choose a Registered Agent?

When you file your Certification of Formation in New Mexico, you must nominate a registered agent.  You can either appoint an in-house registered agent (yourself or any LLC member) or outsource a New Mexico registered agent service. 

You can elect your registered agent online through the New Mexico Secretary of State website. 

Hiring an Inhouse Registered Agent

When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in New Mexico.

Can I be my own registered agent?

Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.

Outsourcing a Registered Agent

You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries. 

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Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.  

What to Consider when Choosing a Registered Agent

Here are some factors to consider when choosing a registered agent.

  • Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
  • Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
  • State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
  • Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.

New Mexico Registered Agent and Business Laws

The registered agents of New Mexico are responsible for addressing all legal aspects and issues that are related to New Mexico LLC law. Every state has its own business laws. New Mexico isn’t an exception. Every state is governed by its own business laws. These are the top business laws that every company must follow.

  1. Interest Law: Every state has its own set of interest laws for business. The rate threshold is lower than the general guidelines. Because businesses typically accept higher interest rates, it is not surprising. New Mexico offers interest rates of 15%. The interest rate on judgement is 8%. If the case is involved in tortious conduct then the interest rate on judgement is 15%.

    New Mexico has Usury Law. This law has higher interest rates for advances as well as loans. The rate of interest is determined by the law. The penalty for violating this law leads to recovering the entire interest rate including recovering twice the money borrowed.
  2. Antitrust Law: Antitrust law, in general, is used to identify the formation of cartels on any given market. A cartel is the combination of rivals that has an unconstitutional influence on the supply or the price. Cartels in any market are unlawful. New Mexico is governed by the same Antitrust Law as other states.

    The New Mexico law permits you to bring a case within four years for civil penalties and three years for criminal penalties. Plaintiffs are also able to recover costs for attorney’s fees and other damages under this law. 
  3. Deceptive Trade Practices Laws: New Mexico has a Deceptive Trade Practice Law. Accused under this law will be responsible for paying the actual damage or $100 whatever is more. Also, plaintiffs can recover the attorney’s fees, treble damages, or $300  whatever is more. Civil penalties will be up to $500.
  4. Credit Card and Debit Card Laws: Credit card frauds are common in all states. Credit card frauds include impersonation, issued in someone else’s name, expired credit card, credit card defaulter, etc. Under this law, a minimum of $250 and a maximum of $20,000 can be levied as penalties on the accused. 
  5. Hourly and wage laws: New Mexico law stipulates that all employees over 18 years old receive a minimum of $7.50 per hour. Tipping employees should receive at least $2.13 per hour. For those employees who are tipped the tip should be enough to give the hourly rate of $7.50. Employers have to raise their base wages. Depending on the cities the hourly wage rate varies and can go up to $10.51. 

    In New Mexico, all employees have to work for 40 hours a week. Employees who work more than 40 hours should be paid for overtime. 
  6. Pyramid and Ponzi Schemes Act: New Mexico can punish anyone who attempts to commit fraud in the investment industry with up to 18 months of imprisonment and a fine of up to $10,000. Anyone who commits investing fraud, for example, paying current investors using money taken from new investors can be penalized. Plaintiffs can recover attorney’s fees and other costs. 

Registered agents handle these cases and laws. New Mexico has registered agents who can help you deal with these laws.

How to Remove a Registered Agent for LLC in New Mexico

In New Mexico, every limited liability company must designate a registered agent. The registered agent may be a former co-owner or employee. However, you can choose a professional service if you’re not happy with the services that your current registered agent provides. Here are a few things to consider before deciding on a new registered agency: The registered agent must be a resident of the state of NM. The agent should be able to provide assistance during business hours. A prospective registered agent should have a portfolio of their clients, which will give you an idea of their experience and scope of work. Don’t settle for an agent with a low annual fee because it is not worth the quality of their service.

To remove a registered agent in New Mexico, file a change of agent form. Most states allow you to file this form online, but you’ll need to send it in person or mail it to the state. If you’re moving to another state, you may want to consider a registered office service in New Mexico. These services will handle the paperwork, and your company won’t have to worry about missing important notices.

You can change your registered agent as long as you’re aware of the legal requirements. In New Mexico, you need to file a Change of Registered Agent form with the state, along with the $20 filing fee. You can also change the name of your business in the state if your registered agent doesn’t represent your interests. You can do this by changing the name or address of the registered agent.

F.A.Qs

Do you need a registered agent for your LLC in New Mexico?

All corporations and limited liability companies doing business in New Mexico are required by state law to appoint a New Mexico registered agent. New Mexico registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.

Who qualifies to be a registered agent?

A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.

Why should you not act as your own registered agent?

If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.

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