How do I maintain an LLC in New Mexico?
How do I maintain my New Mexico LLC? | BetterLegal
What's the next step after registering my business in New Mexico?
After successfully setting up your business in New Mexico, you need to make sure that you keep your LLC in good standing with the state. This way, you will be able to transact with third parties smoothly, especially with your vendors and clients.
A good standing status shows that your company is compliant with the state requirements. This includes, but is not limited to, payment of annual fees and updating of your company information with the state.
Additionally, certain other formalities are required by the state, like appointing a registered agent for service of process and maintaining a registered office in New Mexico.
If you do not have a physical address in the state where you registered your LLC, check out BetterLegal's Registered Agent Service. Through BetterLegal's Registered Agent service, you will receive scanned copies of your important mails and you may also request for physical copies to be mailed to your address for a minimal administrative fee. Subscribe to our service now!
Why is it important to Maintain my LLC in New Mexico?
Third parties are able to obtain your good standing status by submitting a request to the Secretary of State in New Mexico. If a third party you are transacting with finds out that your company is in bad standing with the state, it may cause unnecessary delays and issues in your business transactions.
Also, failure to comply with state requirements may result to forfeiture, dissolution, or involuntary termination of your LLC.
This is why you should be on top of New Mexico's periodic requirements for Limited Liability Companies (LLCs) like yours. Maintain your LLC to avoid any issues and delays in your transactions.
If you need help in maintaining your LLC in New Mexico, check out BetterLegal's State Compliance package. We will make sure that your company complies with the state requirements to keep your company in good standing. Subscribe to our State Compliance Service Now!
The Basics of Maintaining Your LLC
There are different administrative tasks that make up the maintenance of an LLC in New Mexico, but can be grouped into categories:
- : Required filing in New Mexico to keep your LLC in good standing
- Articles of Organization: Updating of your LLC information in New Mexico
- Operating Agreement: Legal document outlining the internal rules and procedures of a Limited Liability Company
- Licenses and Permits: Documentary requirements for these in New Mexico vary depending on the nature of business
- DBAs: Registration of other names a business may go by other than its official name
- Taxes: Money owed to the government for revenues and earnings
Filing your New Mexico LLC's
If you are planning to file your New Mexico LLC's , BetterLegal has prepared an easy to follow step-by-step guide for you below. We have also included pertinent information that you need to remember when filing.
When is the due date for my New Mexico LLC's ?
File your New Mexico LLC's . You need to file it with the state . The may be submitted .
How much do I need to pay for my New Mexico LLC's ?
Prepare to pay for your New Mexico LLC's .
What information are needed when filing my New Mexico LLC's ?
When filing your LLC's , make sure to provide .
How do I submit my New Mexico LLC's ?
You may submit your New Mexico LLC's .
What is the turnaround time for my New Mexico LLC's ?
Your payment or filing submission will reflect on the state's records .
What should I do if I miss my New Mexico LLC's 's due date?
Late submission of in New Mexico . . You may file your late submission .
I missed my New Mexico LLC's 's grace period for late submission, what should I do?
If you also missed the state's grace period for the filing of , .
Articles of Organization
If you want to update your company information but it is too early to file for your LLC's or maybe you have already filed your LLC's , but forgot to update your information, you may still do so by filing an amendment with the state.
BetterLegal may also assist you in filing these amendments. Check out the links below:
- New Mexico LLC Articles of Dissolution
- New Mexico LLC Change of Registered Agent Name/Office
- New Mexico LLC Change of Principal Office Address
- New Mexico LLC Certificate of Good Standing
- New Mexico LLC Articles of Amendment
Operating Agreement
The operating agreement outlines your LLC's internal rules and regulations. Some events, such as change in ownership, may require you to update your operating agreement. BetterLegal may also assist you with this.
Licenses and Permits
Licenses and Permits requirement may vary in each state and depending on the nature of your business. These licenses and permits ensure that companies within specific industries are abiding by its rules and regulations. If you need assistance in obtaining the licenses and permits required for your LLC, you may check out BetterLegal's Permit and License Search service.
DBAs and Fictitious Names
A DBA (Doing Business As) or a Fictitious Name is an alternative name or nickname under which a business can operate. This allows a business to conduct business under a name other than its legal name. For example, an LLC named "ABC Tile LLC" might file for a DBA and conduct business under the name "New Mexico Tile".
A DBA or Fictitious name is not a separate legal entity, it is a name that the business can use for its transactions and it does not change the legal structure or the ownership of the business.
If you need help in registering a DBA for your LLC, reach out to us via chat or call to confirm if we can assist with your filing.
Taxes
The type of taxes that each state requires vary. Meanwhile, all LLCs are subject to Federal Taxes due to the IRS and are reported through the LLC’s EIN. For the filing of your taxes, it is best to consult your accountant.
