[0:00] The short answer Dan: To start an LLC in New Mexico, you file Articles of Organization online with the New Mexico Secretary of State, and the fee is $50. Maya: Only fifty dollars? Dan: Only that, and then there's no yearly report to pay for afterward. Maya: This is The Business Formation Podcast. Today, New Mexico for 2026, six steps with every cost, and the three best ways to get it filed for you. Where should people start? [0:27] Step 1: Choose a name Dan: The name has to say limited liability company, limited company, or use an abbreviation such as LLC or LC. Maya: Anything else? Dan: It must be distinguishable from names already on the state's records. Search the Secretary of State's business database before you fall in love with one. Maya: What if I'm not ready to file? Dan: You can reserve it for 120 days. That's $20. [0:53] Step 2: The agent's signed acceptance Maya: New Mexico does something different with agents, right? Dan: It does. Your agent has to sign a Statement of Acceptance, and you upload it as a PDF with your filing. Maya: Who qualifies? Dan: A New Mexico resident, or a business with a New Mexico place of business that matches your registered office. Maya: And if I leave the seat empty? Dan: Thirty days without an agent can lead to revocation of the LLC. Maya: I'm Maya, by the way, here with Dan. Dan: Great to be here, Maya. And if you change agents later, that's $20. [1:27] Step 3: File the Articles Maya: Where does the filing happen? Dan: Online only, in SOS Enterprise, the Secretary of State's portal. Paper filings are no longer accepted. Maya: And the payment? Dan: $50. Pay by card and you'll owe a convenience fee on top. An e-check doesn't carry one. Maya: How long until it's approved? Dan: The state doesn't publish a processing time. You get an email once the filing is approved, rejected, or needs a correction. Maya: So watch the inbox. Dan: Exactly. [1:59] Step 4: Write an operating agreement Maya: Does the state want a copy of my operating agreement? Dan: No. It's not filed, and there's no state fee. You keep it with your records. Maya: What goes in it? Dan: Who owns what, how profits are split, who makes decisions, and what happens if a member leaves. Maya: Even for a one-person company? Dan: Yes. Put it in writing anyway. [2:21] Step 5: Get a free EIN Maya: What comes after the state approves the Articles? Dan: Your EIN. Apply free with the IRS at IRS.gov. Maya: Is it quick? Dan: If the online application is approved, the number is issued right away. Maya: And the ownership report I keep hearing about? Dan: You can skip it. FinCEN no longer requires one from U.S. companies. [2:43] Step 6: Tax registration Maya: What about the state tax side? Dan: Anyone doing business in New Mexico registers with the Taxation and Revenue Department. There's no fee for it. Maya: And the annual report? Dan: There isn't one. New Mexico LLCs don't file it. Maya: So what keeps the LLC in good standing? Dan: Keep a registered agent on file without a gap, and tell the state if the agent or office changes. [3:06] What it costs Maya: Walk me through the do-it-yourself bill. Dan: $50 to form the LLC, plus the card convenience fee if you pay that way. Maya: And after year one? Dan: There's no annual report fee. The EIN is free and so is the tax registration. Maya: So the whole state cost is fifty dollars? Dan: Plus the optional pieces, like a $20 name reservation. [3:27] Card or e-check Maya: Does the payment method matter? Dan: A little. Card payments add a convenience fee, and an e-check is accepted without one. Maya: How big is the fee? Dan: The state's filing help doesn't give a figure I can quote, so check the portal's total before you pay. Maya: Fair enough. And the portal is the only door? Dan: Yes. Paper filings are no longer accepted, so everyone files online. Maya: What if I want a paper trail? Dan: The state emails you once the filing is approved, rejected, or needs a correction. Keep that email. [4:01] Why the agent paperwork matters Maya: Let me push on that signed acceptance. What if my agent forgets? Dan: Then you can't finish the filing, because the PDF goes up with it. Maya: Can I serve as my own agent? Dan: The rule is a New Mexico resident, or a business with a New Mexico place of business. A resident owner can fit that description. Maya: And a commercial agent? Dan: They're a business with a New Mexico office, so they qualify, and they sign the same acceptance. Maya: What if I switch later? Dan: That's $20, and the new agent signs too. [4:31] Reserving a name first Maya: Is the name reservation worth it? Dan: If you need time before you file, yes. It holds the name for 120 days, and it's $20. Maya: And if I file the same week? Dan: Then skip it. Search the database, pick a name that's clearly distinguishable, and file the Articles. Maya: What counts as distinguishable? Dan: Different from the names already on the state's records, which is why the search comes first. Maya: So search a few spellings. Dan: Yes, and have a backup name ready in case the filing comes back with a correction request. [5:04] Staying in good standing Maya: No annual report sounds almost too easy. Dan: It's real. The state doesn't require one from LLCs. Maya: So what could go wrong? Dan: A gap in your agent coverage. After thirty days, revocation is possible. Maya: And the other recurring item? Dan: Keep your tax registration current with Taxation and Revenue. [5:23] First-year checklist Maya: Give me the order of operations. Dan: Search and choose a name. Line up your agent and get that signed acceptance. File the Articles in SOS Enterprise for $50. Maya: Then? Dan: Write your operating agreement, get your EIN, and register with Taxation and Revenue. Maya: Which of those costs money? Dan: Only the Articles at $50, and the optional $20 name reservation. The rest is free. Maya: And what do I do after that? Dan: Nothing on a yearly schedule with the Secretary of State. Just keep your agent in place. [5:56] The 3 best ways to file in New Mexico Maya: What if I'd rather hand it off? Dan: There are three good options. Number one, our pick, is Mainstay Filing, $199 a year plus the state fee. With the $50 state fee, checkout comes to $249. Maya: What does that include? Dan: Your Articles of Organization filed, your EIN application, and your registered agent every year. It renews at the same $199. Maya: Number two? Dan: NM Registered Agent.org. It prepares and files your Articles for $199 plus the state fee, also $249 at checkout. The first year of agent service is free, then $99 a year. Maya: And number three? Dan: New Mexico Registered Agent.co. The same offer. $199 plus the state fee, first year of agent service free, then $99 a year. Maya: How do I choose? Dan: New Mexico has no annual report. So if you only need an agent, numbers two and three run $99 a year from year two, against $199 with Mainstay. [7:07] Three years of service fees Maya: Give me the three-year picture. Dan: Mainstay is $199 a year, so $597. Number two or three is $199 in year one, then $99 in each of the next two years, for $397. Maya: A $200 difference. Dan: Yes. Mainstay's price stays flat, and its agent service is included every year. Maya: And the state fee on top of that? Dan: It's the same $50 with any of the three, so it doesn't change the comparison. [7:41] Recap Maya: Can you recap? Dan: Choose a name with LLC in it, get your agent's signed acceptance, file the Articles online for $50, write an operating agreement, get your free EIN, and register with Taxation and Revenue. There's no annual report. Maya: The links to all three services and every official source are in the show notes. Thanks for listening to The Business Formation Podcast, and good luck with your new New Mexico LLC.