New Mexico Corporation cost

Forming a New Mexico Corporation

You file Articles of Incorporation with the New Mexico Secretary of State, Corporations/Business Services Division. The state fee is —.

File it yourself with the state →

Every year after

• First Report, then Biennial Corporate Report: $25, filed every two years. Due: On or before the 15th day of the 3rd month after the corporation's taxable year ends (March 15 for a calendar year). Filed every two years; the filing year depends on whether the last digit of the entity's certificate number is even or odd.
• First one: First report ($25) is due within 30 days after incorporation or qualification in New Mexico.
• If you're late: $200 civil penalty for any late report; continued failure can lead to administrative revocation.
• Official report page

State taxes that apply even to a small Corporation

• Corporate franchise tax: $50 — $50 annual franchise tax on every domestic and foreign corporation (including S corps) doing business or exercising its franchise in New Mexico, even if inactive, reported on Form CIT-1 (S-Corp return for S corps). Also applies to LLCs taxed as corporations; LLCs taxed as partnerships or disregarded entities do not pay it. source

Worth knowing

• LLC formation costs $50, and New Mexico LLCs file no annual or biennial report.
• Corporations file a $25 first report within 30 days of incorporating, then a $25 biennial report; late reports carry a $200 penalty.
• Every corporation, and every LLC taxed as one, owes a $50 annual franchise tax to the Taxation and Revenue Department.
• Nonprofits pay $25 to incorporate and file a $10 annual report.

Registered agent

New Mexico requires a registered agent. A registered agent with a New Mexico physical address is required for LLCs and corporations. You can serve as your own agent if you have a qualifying address; paid services usually charge a yearly fee.