New Mexico Business Registration

Starting a Business in New Mexico

The Basics

Incorporate Fast has years of valuable experience in the filing of New Mexico small businesses. Our experienced and knowledgeable staff members provide the best customer service to get your filing done in as little time as possible.

Once your order has been received, our staff reviewers conduct a preliminary name search within the state of New Mexico for any potential entity conflicts.  Once this step is completed, we file your articles with the Secretary of State to get your approval quickly so that your business may be officially recognized as a legal entity in the state of New Mexico.

We’ll also include website, email, and phone service at no additional upfront cost so you can get on the web and start fielding client calls in minutes.

Doing Business in New Mexico

Business Maintenance

All New Mexico Corporations and LLCs Must File: 

• Articles of Incorporation
  New Mexico corporations and LLCs are formed by filing the Articles of Incorporation or Articles of Organization with the NM Secretary of State. It costs $125 or more to form a New Mexico corporation or $50 for a NM LLC.
• Initial Corporate Report
  New Mexico corporations must file an initial report with the Secretary of State within 30 days of incorporation. It costs $25 to file the NM corporation initial report, which we’ve include in our filing cost of $125.
• Beneficial Ownership Information Report
  Nearly all businesses formed by filing with the state of New Mexico must file a federal Beneficial Ownership Information (BOI) Report with the Financial Crimes Enforcement Network (FinCEN) following business formation. You can file online through FinCEN at no cost. Or, take advantage of our professional BOI report filing service for just $9.
• Biennial Report.
  New Mexico corporations must file their biennial report by the 15th day of the fourth month following fiscal year close. Most corporations close their fiscal year December 31st, so the report would be due April 15th. The filing fee for NM corporation biennial reports is $25. This report can be filed online.
  NM LLCs do not file annual or biennial reports with the NM Secretary of State.

New Mexico Business Taxes

Personal Income Tax
The New Mexico Individual income tax rates are as follows:

If the taxable income is not over $5,500, tax is 1.7%
If taxable income is over $5,500 but not over $11,000, then tax is $93.50 plus 3.2% of excess over $5,500
If taxable income is over $ 11,000 but not over $16,000, then tax is $269.50 plus 4.7% of excess over $11,000
If taxable income is over $ 16,000, then tax is $504.50 plus 5.7% of excess over $16,000

Corporate Income Tax
NM corporate income tax rates:

If income is not over $500,000, then tax is 4.8% of net income
If income is over $500,000 but not over $1,000,000, then tax is $24,000 plus 6.4% of excess over $500,000
If income is over $1,000,000, then tax is $56,000 plus 7.6% of excess over $1,000,000

Franchise Tax
A $50 annual tax on NM corporations.

New Mexico Business License

New Mexico does not have a state business license requirement. However, you will need to get any occupational licenses as well as local licenses necessary for your business activities.