Single-Member LLC in New Mexico: The Filing Requirements and Processes



A single-member LLC is a business entity where only one person owns the company. A single-member LLC is often referred to as a “Sole Proprietorship” or “Individual Business Entity.” In general, a sole proprietor is someone who operates their own business without any outside investors. However, if you want additional liability protection, you may consider incorporating your business.

  • How do I file my articles of organization?

The filing requirements vary depending on what state you live in. You can find out how to file your articles of organization at the Secretary of State website. Check out our directory here if you need help finding your local Secretary of State office.

  • Do I need to pay fees to register my LLC?

In some states, you may not need to pay any fees to register your LLC. However, in others, you may need to pay a fee to register your LLC. Fees vary based on the state you reside in. Visit the Secretary of State’s website to learn more about registration fees.

What is a single-member LLC Do in New Mexico?

A Single Member Limited Liability Company (SML) is a type of business entity created under the laws of the State of New Mexico. SML’s were first introduced in New Mexico in 2009 and have been gaining popularity ever since. An SML is similar to a corporation where its members share ownership and liability for debts incurred by the company. However, unlike corporations, SML’s do not need to file annual reports or pay corporate taxes. Instead, they only need to file annual reports once every three years. In addition, SML’ s are exempt from paying franchise tax.

Forming an SML requires two people who want to start a business together. One person would become the manager while the other becomes the member. Both parties must sign a document stating their intentions to create an SML. Once both parties agree to set up an SML, the documents must then be filed at the Secretary of State’s office. After filing, the SML is officially formed and can begin operating immediately.

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There are several reasons why you might want to form a single-member LLC (SLLC) in New Mexico.

The formation of a business entity known as a Limited Liability Company (LLC) is a popular choice among entrepreneurs who want to protect their personal assets while still operating a business. In addition to protecting personal assets, LLCs offer many advantages over traditional corporations including lower taxes, no minimum capital requirements, and flexibility.

In order to form an LLC in New Mexico, the following steps need to be completed:

• Forming an LLC requires filing Articles of Organization with the Secretary of State’s Office. There are two ways to do this: online at; or by mail at POB Box 57500, Santa Fe, NM 87504.

• Filing articles of organization creates a company name and sets forth the purpose for which the corporation was formed.

• Once filed, the articles of organization become public record and may be viewed by anyone upon request.

• A registered agent must be appointed to receive service of legal documents on behalf of the LLC. Individuals can serve as registered agents if they have been issued a certificate of authority by the Secretary of State’s office.

• If the LLC does not already exist, then a Certificate of Formation should be obtained from the Secretary of State‘s office. This document certifies that the LLC meets the statutory requirements for its type.

• After obtaining the necessary paperwork, the LLC is ready to begin operations.


Create your LLC Corporation with just 3 easy steps


The filing requirements for an S Corporation in New Mexico

1. Filing Requirements

In order to file a business entity in New Mexico, you need to have at least $25,000 in assets. You also need to file a certificate of good standing with the Secretary of State’s office. You cannot create a company if you do not meet these requirements.

2. Business Entity Type

You can choose between two types of entities: sole proprietorship and corporation. Sole proprietorships are run by individuals who own everything personally. Corporations are owned by shareholders and are taxed separately. There are many advantages to choosing a corporation over a sole proprietorship. One advantage is that corporations allow for unlimited liability protection. Another benefit is that they offer tax savings.

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3. Formation Process

To start a business entity, you first need to decide what type of entity you want to use. Once you have decided, you need to fill out some forms and pay fees. Then, you need to file those documents with the Secretary of State. Finally, you need to open a checking account and deposit money into it.

4. Annual Fees

Once you have filed your paperwork, you will receive a Certificate of Good Standing. In addition to receiving a certificate, you will also need to pay annual fees. These fees vary depending on the type of entity you chose.

5. Taxation

Corporations are taxed differently than sole proprietorships. Corporations are taxed at different rates based on their size. Small businesses are taxed at lower rates while larger companies are taxed higher.

6. Ownership Structure

There are three ways to structure ownership of a business. First, you can set up a partnership. Partners share profits and losses equally. Second, you can set up an S Corporation. An S Corporation is similar to a C Corporation except that its owners are allowed to deduct personal expenses instead of paying taxes. Third, you can set up as a Limited Liability Company (LLC). A LLC offers several advantages including limited liability protection. However, it does require additional legal documentation.

7. Operating Agreements

An operating agreement is a contract that governs how members of an LLC will interact with each other. It is often referred to as a “buyout” agreement. When setting up an LLC, you should consider having an operating agreement drafted.

How to maintain your single-member LLC in New Mexico

  • File Articles of Organization

The articles of organization should be filed with the Secretary of State’s office at least 30 days before the first day of business. You may file online at If you do not have access to the Internet, you may contact the Secretary of State’s Office at (505) 841-8000.

  • Pay Fees

You must pay the filing fee of $25 plus any applicable taxes. There is no charge if you register a domestic corporation.

  • Register Agents
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If you plan to transact business outside New Mexico, you must appoint agents representing you in the state. An agent cannot be registered unless he or she resides in the state. A person appointed as an agent must reside in the state where the principal does business. To register an agent, complete Form NMAC 1-9.

  • Open Business Account

You must provide proof of identity and residency to open a checking account. You may apply for a personal bank account at any financial institution. You may obtain information about opening a business account by contacting the Small Business Development Center at 505-827-0270.

  • Set Up Mailing Address

When you receive mail addressed to you personally, you must send it back to the company address. When you conduct business out of your home, you must keep records of receipts and expenditures. You must report income and expenses on IRS Forms 1040, Schedule C, and Schedule E.

  • Obtain Employer Identification Number

An employer identification number (EIN) is issued by the Internal Revenue Service (IRS). You must use the same EIN each year and must renew it annually. You may obtain an EIN by calling the IRS at 800-TAX-FORM (800-829-3676).

  • Prepare Tax Returns

Prepare tax returns using forms provided by the IRS. You may download them free of charge at You may request copies of the forms by writing to the IRS at P.O. Box 908, Ogden, UT 84403-0908.



Frequently Asked Questions

How Do I Calculate My Late Filing Fees?

Late filing fees are determined by calculating the number of wholes or partial calendar years from the date the entity originally transacted business in Texas. Then multiply that figure by the annual registration fee.

For example, a for-profit corporation that began doing business in Texas in January 2005 would owe $2,500 in late filing fees if it registered today.

What Is an Annual Report?

New Mexico requires LLCs to file an annual report with SOS. This report includes information about the LLC, such as the name, address, and principal place of business. An LLC is a type of corporation that allows individuals to form a legal entity separate from themselves. There are many advantages to forming an LLC, including tax benefits and protection from personal liabilities.

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