Starting a Business in New Mexico | Checklist and Forms
How to Start a Business in New Mexico
New Mexico Business Facts
The one-of-a-kind state of New Mexico is the most competitive state in the southwest for manufacturing and one of the nation's leading energy producers. New Mexico businesses and business owners benefit from the fourth lowest property tax in the nation, a reduced corporate income tax rate, a low cost of living and a highly diverse and productive workforce.
Companies in New Mexico
New Mexico is the home of major companies including Sandia National Labs, Los Alamos National Laboratory and Presbyterian Healthcare Services.
New Mexico entrepreneurs benefit from low taxes and operating costs in addition to small business resources such as the New Mexico Small Business Assistance Program and Finance New Mexico. For entrepreneurs seeking anonymity, New Mexico is also home to the most private entity in the country.
A DBA or "Doing Business As" (also known as a trade name, "Fictitious Business Name" or FBN) is not really a separate structure, but just a different name that an individual or partners use as their business name.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (you can always change it later but the less times you have to do that the better). In Step 3 we'll show you how to search for the name in New Mexico, but we highly recommend you do the following before searching New Mexico state databases:
Make sure your company name choice is available by searching the New Mexico Business Entity Database. NOTE: Make sure to search variations of spelling, plurals and misspellings as the state may reject a name that is too similar (then you have to start all over again, wasting valuable time).
NOTE: Familiarize yourself with the New Mexico naming guidelines. LLC entity names need to contain the abbreviation LLC or L.L.C., and certain words are restricted or prohibited.
Each state has its own requirements for registering a business. Now that you've chosen a business structure and selected your business name, here are the requirements to register your business in New Mexico.
How to form an LLC in New Mexico
File the "Articles of Organization" with the New Mexico Secretary of State Corporations Bureau.
Once the articles are filed and approved you will then need to properly organize the LLC (this also applies to "1-person LLC's") by holding an "Organizational Meeting" which takes contributions from the members, issues Member Certificates, adopts the company Operating Agreement and more.
How to Incorporate in New Mexico
File the "Articles of Incorporation" with the New Mexico Secretary of State Corporations Bureau.
How to File a DBA in New Mexico
New Mexico does not have DBA registration requirements at the state or local level.
Considerations when incorporating or forming an LLC in New Mexico
Tip: Check our order form to see how long New Mexico is currently taking to process regular and expedited orders. A New Mexico LLC can be processed in 5 business days but a New Mexico corporation can take up to 4 months to be filed and returned, so expedited filing is highly recommended.
Hire a professional Registered Agent. Many people list their home or business address on the Articles of Organization or Incorporation. This can cause issues because it becomes public record (you'll get lots of junk mail). A professional Registered Agent will provide their address and forward any important documents to you. This is also convenient if you have to move (you don't have to file forms or pay fees, just update your address with your agent).
Ready to register a business in New Mexico?
We specialize in registering businesses in New Mexico.
Now that you've registered your business name you may need to obtain a business license for your company – this authorizes your company to do business in your city or county depending on the kind of service you provide. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
DBA: New Mexico does not have DBA registration statutes.
LLC: New Mexico LLCs are not required to file an annual report.
Corporation: New Mexico corporations must file a report biennially on or before the fifteenth day of the third months following the end of the taxable year. The filing fee is $25.
Important New Mexico Contacts
New Mexico Secretary of State
Corporations Bureau (for Corporation and LLC filings)
New Mexico Capitol Annex North
325 Don Gaspar, Suite 300
New Mexico Taxation Departments
NM Taxation & Revenue Department
New Mexico Labor and Employment Departments
New Mexico Department of Workforce Solutions
New Mexico Startup Resources
Small Business Administration (SBA) New Mexico District Office
New Mexico District Office
SCORE New Mexico
New Mexico Legal Statutes
Business Corporation Act – includes various other topics including partnerships and associations.
New Mexico Business Laws – seeks to protect consumers by fostering a competitive business environment, and laws prohibiting certain deceptive business practices, such as false advertising.
New Mexico Chambers of Commerce
Greater Albuquerque Chamber of Commerce
Santa Fe Chamber of Commerce
New Mexico Business Portal
New Mexico Partnership
Angel.co New Mexico Startups
A list of New Mexico startups and investors registered with Angel.co.
New Mexico Business News
The Office of Business Advocacy
The New Mexico True Economic Development
City of Albuquerque Small Business Grow It!
New Mexico Small Business Development Center
New Mexico SBDC – the NMSBDC is able to help New Mexico small business owners at no charge, which means many New Mexico residents who would otherwise be unable to afford this valuable assistance are able to access the professional expertise they need to succeed.
New Mexico Green Business Resources
New Mexico Environmental Law Center
New Mexico Green Chamber of Commerce