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<v Dan>To start an LLC in New Mexico, you file Articles of Organization online with the New

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<v Dan>Mexico Secretary of State, and the fee is $50.

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<v Maya>Only fifty dollars?

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<v Dan>Only that, and then there's no yearly report to pay for afterward.

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<v Maya>This is The Business Formation Podcast.

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<v Maya>Today, New Mexico for 2026, six steps with every cost, and the three best ways to

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<v Maya>get it filed for you. Where should people start?

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<v Dan>The name has to say limited liability company, limited company, or use an

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<v Dan>abbreviation such as LLC or LC.

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<v Maya>Anything else?

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<v Dan>It must be distinguishable from names already on the state's records.

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<v Dan>Search the Secretary of State's business database before you fall in love with one.

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<v Maya>What if I'm not ready to file?

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<v Dan>You can reserve it for 120 days.

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<v Dan>That's $20.

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<v Maya>New Mexico does something different with agents, right?

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<v Dan>It does. Your agent has to sign a Statement of Acceptance, and you upload it as a

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<v Dan>PDF with your filing.

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<v Maya>Who qualifies?

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<v Dan>A New Mexico resident, or a business with a New Mexico place of business that

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<v Dan>matches your registered office.

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<v Maya>And if I leave the seat empty?

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<v Dan>Thirty days without an agent can lead to revocation of the LLC.

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<v Maya>I'm Maya, by the way, here with Dan.

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<v Dan>Great to be here, Maya. And if you change agents later, that's $20.

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<v Maya>Where does the filing happen?

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<v Dan>Online only, in SOS Enterprise, the Secretary of State's portal.

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<v Dan>Paper filings are no longer accepted.

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<v Maya>And the payment?

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<v Dan>$50. Pay by card and you'll owe a convenience fee on top.

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<v Dan>An e-check doesn't carry one.

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<v Maya>How long until it's approved?

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<v Dan>The state doesn't publish a processing time.

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<v Dan>You get an email once the filing is approved, rejected, or needs a correction.

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<v Maya>So watch the inbox.

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<v Dan>Exactly.

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<v Maya>Does the state want a copy of my operating agreement?

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<v Dan>No. It's not filed, and there's no state fee.

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<v Dan>You keep it with your records.

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<v Maya>What goes in it?

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<v Dan>Who owns what, how profits are split, who makes decisions, and what happens if a

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<v Dan>member leaves.

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<v Maya>Even for a one-person company?

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<v Dan>Yes. Put it in writing anyway.

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<v Maya>What comes after the state approves the Articles?

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<v Dan>Your EIN. Apply free with the IRS at IRS.gov.

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<v Maya>Is it quick?

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<v Dan>If the online application is approved, the number is issued right away.

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<v Maya>And the ownership report I keep hearing about?

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<v Dan>You can skip it. FinCEN no longer requires one from U.S.

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<v Dan>companies.

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<v Maya>What about the state tax side?

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<v Dan>Anyone doing business in New Mexico registers with the Taxation and Revenue

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<v Dan>Department. There's no fee for it.

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<v Maya>And the annual report?

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<v Dan>There isn't one. New Mexico LLCs don't file it.

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<v Maya>So what keeps the LLC in good standing?

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<v Dan>Keep a registered agent on file without a gap, and tell the state if the agent or

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<v Dan>office changes.

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<v Maya>Walk me through the do-it-yourself bill.

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<v Dan>$50 to form the LLC, plus the card convenience fee if you pay that way.

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<v Maya>And after year one?

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<v Dan>There's no annual report fee. The EIN is free and so is the tax registration.

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<v Maya>So the whole state cost is fifty dollars?

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<v Dan>Plus the optional pieces, like a $20 name reservation.

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<v Maya>Does the payment method matter?

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<v Dan>A little. Card payments add a convenience fee, and an e-check is accepted without

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<v Dan>one.

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<v Maya>How big is the fee?

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<v Dan>The state's filing help doesn't give a figure I can quote, so check the portal's

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<v Dan>total before you pay.

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<v Maya>Fair enough. And the portal is the only door?

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<v Dan>Yes. Paper filings are no longer accepted, so everyone files online.

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<v Maya>What if I want a paper trail?

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<v Dan>The state emails you once the filing is approved, rejected, or needs a correction.

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<v Dan>Keep that email.

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<v Maya>Let me push on that signed acceptance.

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<v Maya>What if my agent forgets?

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<v Dan>Then you can't finish the filing, because the PDF goes up with it.

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<v Maya>Can I serve as my own agent?

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<v Dan>The rule is a New Mexico resident, or a business with a New Mexico place of

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<v Dan>business. A resident owner can fit that description.

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<v Maya>And a commercial agent?

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<v Dan>They're a business with a New Mexico office, so they qualify, and they sign the same

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<v Dan>acceptance.

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<v Maya>What if I switch later?

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<v Dan>That's $20, and the new agent signs too.

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<v Maya>Is the name reservation worth it?

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<v Dan>If you need time before you file, yes.

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<v Dan>It holds the name for 120 days, and it's $20.

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<v Maya>And if I file the same week?

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<v Dan>Then skip it. Search the database, pick a name that's clearly distinguishable, and

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<v Dan>file the Articles.

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<v Maya>What counts as distinguishable?

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<v Dan>Different from the names already on the state's records, which is why the search

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<v Dan>comes first.

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<v Maya>So search a few spellings.

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<v Dan>Yes, and have a backup name ready in case the filing comes back with a correction

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<v Dan>request.

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<v Maya>No annual report sounds almost too easy.

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<v Dan>It's real. The state doesn't require one from LLCs.

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<v Maya>So what could go wrong?

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<v Dan>A gap in your agent coverage. After thirty days, revocation is possible.

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<v Maya>And the other recurring item?

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<v Dan>Keep your tax registration current with Taxation and Revenue.

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<v Maya>Give me the order of operations.

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<v Dan>Search and choose a name. Line up your agent and get that signed acceptance.

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<v Dan>File the Articles in SOS Enterprise for $50.

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<v Maya>Then?

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<v Dan>Write your operating agreement, get your EIN, and register with Taxation and

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<v Dan>Revenue.

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<v Maya>Which of those costs money?

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<v Dan>Only the Articles at $50, and the optional $20 name reservation.

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<v Dan>The rest is free.

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<v Maya>And what do I do after that?

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<v Dan>Nothing on a yearly schedule with the Secretary of State.

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<v Dan>Just keep your agent in place.

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<v Maya>What if I'd rather hand it off?

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<v Dan>There are three good options. Number one, our pick, is Mainstay Filing, $199 a

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<v Dan>year plus the state fee. With the $50 state fee, checkout comes to $249.

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<v Maya>What does that include?

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<v Dan>Your Articles of Organization filed, your EIN application, and your registered agent

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<v Dan>every year. It renews at the same $199.

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<v Maya>Number two?

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<v Dan>NM Registered Agent.org. It prepares and files your Articles for $199 plus

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<v Dan>the state fee, also $249 at checkout.

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<v Dan>The first year of agent service is free, then $99 a year.

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<v Maya>And number three?

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<v Dan>New Mexico Registered Agent.co.

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<v Dan>The same offer. $199 plus the state fee, first year of agent service free, then

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<v Dan>$99 a year.

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<v Maya>How do I choose?

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<v Dan>New Mexico has no annual report.

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<v Dan>So if you only need an agent, numbers two and three run $99 a year from year two,

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<v Dan>against $199 with Mainstay.

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<v Maya>Give me the three-year picture.

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<v Dan>Mainstay is $199 a year, so $597.

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<v Dan>Number two or three is $199 in year one, then $99 in each of the

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<v Dan>next two years, for $397.

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<v Maya>A $200 difference.

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<v Dan>Yes. Mainstay's price stays flat, and its agent service is included every year.

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<v Maya>And the state fee on top of that?

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<v Dan>It's the same $50 with any of the three, so it doesn't change the comparison.

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<v Maya>Can you recap?

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<v Dan>Choose a name with LLC in it, get your agent's signed acceptance, file the Articles

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<v Dan>online for $50, write an operating agreement, get your free EIN, and register with

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<v Dan>Taxation and Revenue. There's no annual report.

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<v Maya>The links to all three services and every official source are in the show notes.

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<v Maya>Thanks for listening to The Business Formation Podcast, and good luck with your new

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<v Maya>New Mexico LLC.