New Mexico LLC Cost

The minimum cost to form an LLC in New Mexico is $50, which covers the filing fee for submitting your Articles of Organization with the state.

However, the overall cost of forming a New Mexico LLC can vary depending on your specific business needs and personal preferences.

In this New Mexico LLC Cost guide, we’ve outlined all the expenses associated with forming and maintaining an LLC in New Mexico, so you have a clear understanding of what to expect.

More than 84% of our readers form their LLC through a professional service to save time and avoid mistakes.

Northwest ($29 + State Fees)

How Much Does a New Mexico LLC Cost

Below is a summary of the main requirements and associated fees for forming an LLC in New Mexico.

	LLC Cost Summary
Requirement	Fee
Articles of Organization	$50-$100+
Registered Agent	$0-$130+
LLC Name	$0-$370+

New Mexico LLC Filing Fee ($50-$100+)

To officially register your LLC in New Mexico, you must file the correct formation document with the Secretary of State:

• Domestic LLCs: Must file the Articles of Organization and pay a $50 fee (these are the LLCs that are going to be operating from within the state)
• Foreign LLCs: Must file a Foreign Limited Liability Company Application and pay a $100 fee (these are companies registering in NM but who are going to be operating from a different state). 

If you choose to use a professional LLC formation service, your overall cost will be slightly higher as it will include New Mexico’s state filing fee plus a small service fee. 

These services generally start around $29, but can be priced even lower or be significantly more expensive depending on the provider in question. 

Have a look at our in-depth review of the best and most affordable LLC Formation Services in 2024. 

New Mexico Registered Agent ($0-$130+)

When forming your LLC in New Mexico, you are required to appoint a registered agent. This individual or entity is responsible for receiving legal, tax, and governmental correspondence on behalf of your LLC.

Your registered agent must consent to their appointment by signing this Statement of Acceptance of Appointment by Designated Initial Registered Agent form, which must be submitted along with your Articles of Organization. There’s no additional cost for this if you act as your own agent.

However, hiring a professional registered agent service is often recommended in order to avoid potential penalties or legal issues due to non-compliance with state regulations. Professional services also help keep your personal information private. 

The cost of hiring a registered agent typically ranges between $130 and $300 per year, although several premium providers offer the first year post formation completely free of charge.

New Mexico LLC Name ($0-$370+)

There are two main costs to consider when naming your LLC, which we’ve broken down below. 

Reserving a Name

If you’ve selected a name but aren’t ready to form your LLC immediately, you can reserve the name by submitting an Application for Reservation of a Domestic LLC Name to the New Mexico Secretary of State.

The reservation costs $20, holds the name for 120 days, and must be filed by mail.

It’s advisable to check the availability of your desired name beforehand by using the New Mexico Secretary of State’s Business Search tool.

You should also ensure that your desired name’s domain is available (as you’ll need this for your website). 

Trademarking an LLC Name

In New Mexico, registering your LLC does not automatically grant you exclusive rights to its name, and you’ll need to apply for a trademark if this is something that’s important to you. 

Two options are available when it comes to trademarking:

• Statewide Trademark: This costs at least $50 and requires mailing a Trademark Application to the New Mexico Secretary of State.
• National Trademark: This is more expensive, with fees starting at $250 or $350 depending on the filing option chosen through the Trademark Electronic Application System (TEAS).

The cost of trademarking varies depending on the number of “trademark classes” your application includes. Each class represents the types of goods or services your LLC will offer.

Optional New Mexico LLC Formation Costs

Beyond the standard formation costs, there are several additional expenses that New Mexico LLCs may encounter based on their individual circumstances.

New Mexico LLC Operating Agreement 

While not legally required, having an operating agreement for your New Mexico LLC is highly recommended. This document outlines the roles, responsibilities, and ownership structure of your LLC’s members or managers, helping to prevent disputes.

You can draft the operating agreement yourself at no cost, or hire an attorney or online service to create one for you, which typically costs a few hundred dollars.

Local Business Licenses

Depending on the location and activities of your LLC, you may need to obtain a local business license in order to operate legally. 

The cost of these licenses varies widely depending on the municipality or county you’re in, as well as on your business type. 

For example, in the City of Gallup, a Fixed Permanent Licensed Business license costs $100 per year, while in the City of Lordsburg, a general business license costs $75 annually.

For more information, we recommend contacting your local county clerk’s office. You can find their contact information through this New Mexico Municipal League webpage.

Certificate of Good Standing

A Certificate of Good Standing, which verifies that your LLC is properly registered and authorized to conduct business in New Mexico, is often required for various business purposes, such as opening a business bank account or securing a loan.

To obtain this certificate, you must submit an online request through the New Mexico Secretary of State’s Corporations and Business Services portal and pay a $25 fee. 

Keep in mind that you will need to create an account on the portal before submitting your request.

Certified Copies of Documents

If you need certified copies of your LLC’s business documents — such as the Articles of Organization — you can request them through the New Mexico Secretary of State’s Corporations and Business Services portal. 

The cost for this is $25 per document, plus $1 per page (up to a maximum of $10 extra per request). 

While there’s no expedited filing option available, in-person requests are typically processed immediately. 

Ongoing Costs to Maintain a New Mexico LLC

Unlike most states, New Mexico does not impose annual fees on LLCs — such as business license or annual report fees. 

Even so, there are a couple of maintenance fees you’ll likely need to consider as an LLC owner. 

Registered Agent Maintenance

If you decide to use a professional registered agent service, you’ll need to pay an annual fee, which is typically between $125 and $300 depending on the provider and level of service in question. 

While not required, using a professional registered agent is recommended for compliance and privacy protection.

It can also offer you more flexibility, as your LLC’s registered agent will be legally required to be physically present during “regular business hours” in order to receive service of process. 

Taxes

In addition to federal taxes, New Mexico LLCs can be subject to several state-specific taxes, including:

• Income Taxes
• Franchise Taxes
• Compensating Taxes

Depending on the location of your LLC, you may also need to pay local taxes.

For more information, you can have a look at our New Mexico LLC Taxes article. 

Ready to Get Started?

Have a look at our LLC New Mexico Guide (DIY Approach)

Let Northwest Registered Agent handle it for you ($29 + State Fees) 

New Mexico LLC vs Other States

New Mexico is known for its low formation fee of $50 and lack of annual reporting requirements, making it an extremely cost-effective option for establishing and operating an LLC.

Even so, it’s important to note that the best state to form your LLC in will (generally speaking) be the state you plan to operate from. 

This is because otherwise you could end up having to pay registration and maintenance fees in more than one state.