New Mexico LLC Requirements

After forming a limited liability company (LLC), you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability an LLC provides its owner(s). This guide outlines the ongoing requirements for New Mexico LLCs.

LLC taxes and fees

The following are taxation requirements and ongoing fees for New Mexico LLCs:

  • Annual report and franchise tax. New Mexico does not require LLCs to file an annual report. New Mexico imposes a franchise tax on LLCs if they paid federal income tax. The franchise tax is filed along with the state income tax, and is due by the 15th day of the third month following the close of the tax year. The fee is $50.
  • Taxes. For complete details on state taxes for New Mexico LLCs, visit Business Owner's Toolkit or the State of New Mexico.
  • Federal tax identification number (EIN). An EIN is required for LLCs that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
  • State tax identification number. New Mexico requires a state tax identification number.

Business licenses

Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.

Additional New Mexico information

View the following additional resources BizFilings has for forming and maintaining companies in New Mexico: