If you plan on adopting the limited liability company business structure, you must register your company as an LLC with the office of the State of Secretary.
Despite seeming like a challenging task, starting an LLC in New Mexico is pretty easy. In just 9 steps, your LLC can be established without making you go through needless hassle.
Read on to learn how to start an LLC in New Mexico.
9 Steps to Start an LLC in New Mexico
Here is a list of all the steps you need to follow to form an LLC in New Mexico officially:
Name Your LLC
The first step you must take to form an LLC in New Mexico is to name your business. The name you choose also goes on the Articles of Organization. But every state has a set of naming requirements that must be followed.
Here are the requirements for naming your business in New Mexico:
Your business name should contain one of the following terms:
Limited liability company. In this case, “limited” and “company” may be shortened to “ltd” or “co.”
Your name should be unique and different from any existing New Mexico business. Check for name availability by clicking here.
You can also reserve a name for 120 days while you complete the process of forming your LLC. The name reservation fee for LLCs in New Mexico is $20.
The name should not contain words used by government organizations, such as FIA, FBI, CIA, etc.
Restricted words, such as attorney, lawyer, and credit union, may require some extra paperwork so keep that in mind when naming your LLC.
Find a Registered Agent for Your Business
Once your LLC has a name, the next thing you need to do is find a registered agent for your company. You can even appoint yourself as the company’s registered agent. It may also be an employee or an entity that offers registered agent services.
The role of a registered agent is to receive all legal notices and documents on behalf of your LLC. However, it is important that the agent has an official address in New Mexico and is available on-site during business hours to receive documents.
File Your Articles of Organizations
The third step is the most important one, as it officially establishes your LLC. In this step, you have to prepare and file the Articles of Organizations of your LLC.
All documents are filed with New Mexico’s Secretary of State. But don’t worry, it’s not as complicated as it sounds. You simply need to fill out a form that can be submitted by mail or online.
Here’s everything that you will need to complete the form:
The name of your New Mexico LLC
The name and address of the appointed registered agent
The date on which the articles will be filed
The purpose behind forming the LLC
The mailing and business address of your LLC
LLC duration if it isn’t perpetual
A description of the management structure that defines whether your LLC will be managed by managers or members
Signatures of the person that wants to form the LLC
After submission of the Articles of Organization, they will be reviewed by the Secretary of State. If no issues are found, your LLC will be formed officially.
Obtain Your Certificate
After your Articles of Organization have been approved and stamped by the State Secretary, you will also receive a certificate confirming your LLC formation. With the help of this certificate, you can obtain your employer identification number and business license, if needed.
Form an Operating Agreement
Starting an LLC in New Mexico doesn’t require you to form an operating agreement. However, if you do make one, it helps settle financial and liability disputes.
If you don’t have one, the courts make one for you, which isn’t always in your LLC’s best interest.
To form an operating agreement, you will need the following:
Name and address of LLC
The duration of your LLC
Namd and address of your registered agent
Information regarding your Articles of Organization
Purpose of the business
The members of your LLC and their roles
How profits and losses will be divided
The management structure of your LLC
Get Your EIN
The Internal Revenue Service will assign you an employer identification number. It helps file and manage taxes and allows you to hire new employees for your business. Moreover, it also helps open bank accounts.
Create a Website and Logo Design
Once you’re done with all the formal matters to start an LLC in New Mexico, the next thing you must do is get a logo made. Your business logo will make it easier for customers and clients to distinguish your business from the rest. It will go on work clothes, business cards, business vehicles, products, etc.
Additionally, you will also need a website. A website will act as the front of your business and allow customers to learn more information about the services/products you offer.
It is important that the webpage you create is SEO-friendly and enhances user experience. Trady.com can help you create a suitable website according to your business. The best part is that our pricing plan is more affordable than others.
Market Your LLC
Marketing is the best way to expand customer outreach. In the age of digitalization, social media marketing is the most effective option. Other methods include search ads, email marketing, SMS marketing, etc.
Trady.com can become your marketing partner and help you create a strong online presence. Start your 14-day free trial today.