1. Choose a Name for Your New Mexico Corporation
Check on Available Names in New Mexico: In order to incorporate your small business in the state of New Mexico, you need to choose a unique name for your corporation. Before you file to incorporate, you should conduct a thorough search of online databases and other records to determine that the name that you have chosen is not already in use by another corporation. You can search a database of corporations that are registered in the state of New Mexico online at New Mexico Corporation.
Reserve a Corporate Name: It is not required for you to reserve a name before you file Articles of Incorporation in New Mexico, but if you do not plan to file Articles of Incorporation right away and you would like to reserve a particular name until the time that you can file, you can submit a name reservation application to the office of the New Mexico Secretary of State. You can find the name reservation application form online at Reserve a New Mexico Corporation Name.
There is a fee of $25.00 to reserve a name. The name that you submit will be reserved for a period of 120 days.
Filing Trademarks and Doing a Corporate Name Search: You should be aware that even if the name that you choose for your corporation is available in New Mexico, the same name could be in use by another corporation in another state. There may be certain legal restrictions on your use of the name that you have chosen for your corporation. You should consult an attorney when you are preparing to incorporate. An attorney will help you to be informed about what these restrictions are and learn how you can trademark the name that you have chosen for your corporation.
New Mexico Corporate Name Requirements: The name that you use to incorporate your small business in the state of New Mexico must include the word “corporation,” “incorporated,” “limited,” or an abbreviation of one of these words.
2. Find a Registered Agent in New Mexico
Once you have decided on the name of your corporation, you need to choose a registered agent that you will indicate on the Articles of Incorporation that you file. Your registered agent will act as an agent for service of process and will receive legal and tax documents on behalf of your corporation. An adult resident of New Mexico or a corporation can act as your registered agent. However, your corporation cannot act as its own registered agent.
3. File Articles of Incorporation with the New Mexico Secretary of State
Minimum Requirements: You must file Articles of Incorporation with the New Mexico Public Regulation Commission in order to incorporate your small business in New Mexico. You can find the form for the document online at New Mexico Corporation Set Up. You must provide the name of your corporation, the purpose of your corporation, the name and address of your registered agent, the number of shares authorized by your corporation, and the name and address of each incorporator and director. The document must be signed by the incorporators and the registered agent.
Other New Mexico Legal Provisions: You may want to include additional provisions when you file Articles of Incorporation. It is best to consult an attorney when you are preparing to file Articles of Incorporation so that you make sure to include the additional legal provisions that are relevant to your corporation.
Where to Submit Form: You should submit your Articles of Incorporation to the Public Regulation Commission, Corporations Bureau, Chartered Documents Division, P.O. Box 1269, Santa Fe, NM 87504-1269.
Filing Fee: The filing fee for Articles of Incorporation in New Mexico starts at $100 and up, depending on the number of shares authorized by your corporation. See the Articles of Incorporation form for more information.
4. Create Other New Mexico Incorporation Documents (Corporate Kits)
Once you have filed Articles of Incorporation with the New Mexico Public Regulation Commission, you will be able to start taking other actions in your corporation such as appointing officers and directors, adopting corporation bylaws, issuing stock certificates, obtaining a tax ID number, and acquiring a business license. Consider creating other types of corporate documents like buy-sell agreements, shareholders agreements that determine when stock can be sold, and documents that describe what will happen if an owner decides to leave the company. These types of corporate documents can prove to be very useful, especially to corporations that have multiple owners. It is best consult an attorney when you are drafting these documents so that you are sure to comply with legal requirements. There are also corporate service companies that work with corporations to create these important corporate documents.
5. Qualify Your New Mexico Corporation to Do Business in Other States
When you start to take other actions in your corporation, you should remember that if the main office of your corporation is located in another state, you need to qualify your corporation to do business in that state and you most likely will be required to pay taxes in your home state. You can learn about how to qualify your corporation to do business in other states online at Doing Business in other states.
6. Make Annual Filings and Pay Annual Fees and Taxes in New Mexico
Corporations that are registered in the state of New Mexico must file a biennial report. This report allows you to update important information about your corporation, such as the name and address of your registered agent, your officers, and your directors. The filing fee is $25.00. You can download the form online at New Mexico Corproate Fee or file online at File a New Mexico Corporation.
Your corporation will be subject to New Mexico state income taxes. You must file a corporate income tax form with the state and pay the required taxes each year. You can learn about the corporate tax in New Mexico online at the official website of the New Mexico Taxation and Revenue Department at New Mexico Corporate Tax. You should talk to a professional accountant when it is time to prepare your tax documents so that you can avoid costly mistakes in the preparation of your tax documents.
The process of incorporating your small business is made up of many decisions. These decisions can often be very complex, especially for corporations that have multiple owners. You should consult an attorney and an accountant when you are incorporating your small business so that you can feel more confident that your paperwork is being prepared correctly.
This article is for informational purposes and does not constitute legal, financial or tax advice. This information is derived from various sources and should not be relied on as an official source of information. All information should be independently verified. You should consult a legal or accounting professional before incorporating your business.
Disclaimer: This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.