New Mexico is one of the least expensive states to form a company. To start a business here, file Articles of Organization (LLC) or Articles of Incorporation (corporation) with the New Mexico Secretary of State through the SOS Enterprise portal, register with the Taxation and Revenue Department for a Business Tax Identification Number, and get any local or professional licenses. An LLC costs $50 to form as of October 2026, and New Mexico LLCs do not file annual reports.
The tax side needs the most attention. Instead of a sales tax, New Mexico charges a gross receipts tax (GRT) on most business receipts, and almost every business that operates in the state must register for it.
Updated October 2026.
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Best Business Formation Services in New Mexico (2026)
Our ranked picks for forming a business in New Mexico are below, starting with Mainstay Filing. Each entry lists the yearly price and what the service covers.
| Rank | Provider | Best for | Price | What’s included |
|---|---|---|---|---|
| 1 | Mainstay Filing | Forming an LLC with the agent, EIN and annual report included | $199/year + state fee at cost | LLC formation filing, registered agent for the year, EIN application, annual report preparation and filing |
| 2 | NM Registered Agent.org | New Mexico registered agent service only | $99/year | $99 per year, flat; in-state street address for the registered office; legal documents served on the company are scanned and sent to the owner online |
| 3 | New Mexico Registered Agent.co | New Mexico registered agent service only | $99/year | in-state street address for the registered office; legal documents served on the company are scanned and sent to the owner online |
1. Mainstay Filing
Mainstay Filing is our top pick in New Mexico. It costs $199/year + state fee at cost and covers lLC formation filing, registered agent for the year, EIN application, annual report preparation and filing. The price stays the same every year, with no add-on menu.
2. NM Registered Agent.org
NM Registered Agent.org is a New Mexico registered agent service at $99/year. It provides $99 per year, flat; in-state street address for the registered office; legal documents served on the company are scanned and sent to the owner online. It’s a fit if you only need a registered agent rather than full formation help.
3. New Mexico Registered Agent.co
New Mexico Registered Agent.co is a New Mexico registered agent service at $99/year. It provides in-state street address for the registered office; legal documents served on the company are scanned and sent to the owner online. It’s a fit if you only need a registered agent rather than full formation help.
New Mexico at a glance (October 2026)
| Item | New Mexico detail |
|---|---|
| Filing office | New Mexico Secretary of State, Business Services Division |
| Online filing | SOS Enterprise (online only; paper no longer accepted) |
| LLC Articles of Organization | $50 |
| Corporation Articles of Incorporation | $1 per 1,000 authorized shares; $100 minimum, $1,000 maximum |
| LLC annual report | None required |
| Corporation report | $25, within 30 days of formation, then every two years |
| Name reservation | LLC $20 (120 days); corporation $25 |
| Tax registration | Free, through the Taxpayer Access Point (TAP) |
| Gross receipts tax | 4.875% state rate plus local rates |
| Minimum wage | $12.00 per hour statewide |
Fees are set in New Mexico Statutes Chapter 53. Mainstay Filing also lists New Mexico LLC costs for planning purposes.
Picking your business structure in New Mexico
Each structure has a different cost and paperwork profile here:
- Sole proprietorship. No Secretary of State filing. You still register with the Taxation and Revenue Department for gross receipts tax, and you are personally liable for business debts.
- General partnership. Two or more owners sharing profits and liability, with the same tax registration requirement and no state formation filing.
- LLC. At $50 with no annual report, a New Mexico LLC is cheap to form and maintain, and it shields your personal assets from business liabilities. Our guide to starting an LLC in New Mexico covers the filing in more detail.
- Corporation. Costs more up front (at least $100), files a corporate report every two years, and pays a $50 annual franchise tax plus corporate income tax at a flat 5.9% for tax years beginning in 2025 or later, per the Taxation and Revenue Department.
For most small businesses, the LLC is the clear value choice in New Mexico.
Choosing a name for a New Mexico business
New Mexico LLC names must include “limited liability company”, “limited company”, “LLC”, “L.L.C.”, “LC” or “L.C.”, and they must be distinguishable from other LLCs, corporations and limited partnerships on file, as well as from reserved names.
- Search state records through the Business Search in SOS Enterprise, which covers registered businesses, fictitious names and trademarks. Our New Mexico business name search guide walks through the process.
- Check domains and social handles with Namechk so your online presence matches the registered name.
- Search federal trademarks in the USPTO database.
If you need inspiration, try the business name generator. An LLC name reservation costs $20 and lasts 120 days; corporations pay $25.
New Mexico has no statewide DBA registration for most businesses. An LLC can instead state an additional name it plans to do business under in its Articles of Organization. Check with your city or county about any local requirements before using a trade name.
Registered agent requirements
Every New Mexico LLC must keep a registered office and a registered agent in the state. The agent can be a New Mexico resident or a business entity authorized in New Mexico whose place of business is the registered office. When you file online, you upload a signed Registered Agent Statement of Acceptance with your Articles.
You can serve as your own agent if you live in New Mexico. Owners who live elsewhere, or who want privacy, usually hire a commercial agent. Mainstay Filing includes a New Mexico registered agent for the first year with its formation package. Changing an LLC’s agent later costs $20.
Filing your Articles with the Secretary of State
All New Mexico business filings are now handled online through the SOS Enterprise portal, according to the Secretary of State. The steps:
- Create an account in SOS Enterprise.
- Open the Forms tab and choose Articles of Organization (LLC) or Articles of Incorporation (corporation).
- Enter the name, registered agent, principal office and organizers.
- Upload the signed Registered Agent Statement of Acceptance.
- Pay the fee by card or e-check ($50 for an LLC). Card payments add a convenience fee, and fees are not refunded if a filing is rejected.
Once approved, write an operating agreement for your LLC or adopt corporate bylaws. New Mexico does not collect these documents, but they spell out ownership and decision-making and are often requested by banks.
Get a federal EIN
Request an Employer Identification Number from the IRS at no cost. You need it for the state tax registration if you have employees, for a business bank account and for federal returns.
Register for gross receipts tax and withholding
Anyone engaging in business in New Mexico must register with the Taxation and Revenue Department, according to the department’s registration guidance. Register online in the Taxpayer Access Point (TAP) by choosing “Apply for a New Mexico Business Tax ID”. There is no fee.
You receive a New Mexico Business Tax Identification Number (BTIN), formerly called a CRS number, which covers:
- Gross receipts tax. New Mexico charges GRT on most receipts from selling goods and services in the state. The state rate is 4.875%, and county and city rates are added on top, per the GRT overview. Businesses usually pass the tax on to customers. Since July 1, 2025, local rates generally change only in July.
- Compensating tax, the New Mexico equivalent of use tax.
- Wage withholding, once you have employees.
Remote sellers must register once they reach $100,000 in New Mexico taxable gross receipts in the prior calendar year.
Hiring in New Mexico
New Mexico’s statewide minimum wage is $12.00 per hour under NMSA 50-4-22, and some cities and counties set higher local rates. Employers also:
- Register with the Department of Workforce Solutions for unemployment insurance.
- Report new hires to the state’s new hire reporting center.
- Carry workers’ compensation once they have three or more employees. Construction businesses must carry it regardless of size.
- Pay a quarterly workers’ compensation administration fee through the Taxation and Revenue Department, currently $2.55 per covered employee for the employer and $2.25 for the employee, per the withholding and workers’ compensation page.
Licenses and permits
New Mexico has no statewide general business license. What you need depends on your work and location, according to the state’s Business Navigator:
- Local business registration or licenses from your city or county, such as Albuquerque, Las Cruces or Santa Fe.
- Professional and occupational licenses from the Regulation and Licensing Department, including construction trades through the Construction Industries Division.
- Liquor licenses and environmental permits for businesses in those areas.
The New Mexico SBDC network offers free advising and can help sort out the licenses for your industry.
Banking and insurance
Open a business bank account with your approved Articles, EIN and operating agreement, and keep business transactions separate from your personal accounts. Insurance to consider includes general liability, professional liability, commercial auto, and workers’ compensation if you have three or more employees or work in construction.
Ongoing requirements after formation
New Mexico keeps ongoing paperwork light, especially for LLCs:
- LLCs have no annual or biennial report to file with the Secretary of State. Keep your registered agent current, and file GRT returns on the schedule TRD assigns.
- Corporations file a corporate report within 30 days after incorporation and then every two years, by the 15th day of the fourth month after the end of their tax year. Each report costs $25, and a late report adds a $200 penalty. Corporations also file an annual corporate income and franchise tax return.
Getting your New Mexico business online
A website and a matching domain help customers find you, particularly if you sell beyond your town. Once your name is secured, these builders make it easy to launch:
FAQs
How much does it cost to start an LLC in New Mexico?
As of October 2026, filing Articles of Organization for a New Mexico LLC costs $50 with the Secretary of State, plus a card convenience fee if you pay by card. New Mexico LLCs do not file annual reports, so there is no yearly state report fee. A name reservation is optional and costs $20 for 120 days.
Do New Mexico LLCs have to file an annual report?
No. The New Mexico Limited Liability Company Act does not require LLCs to file annual or biennial reports with the Secretary of State. Corporations are different: they file a corporate report within 30 days of incorporation and then every two years, with a $25 fee and a $200 penalty for late reports.
Does New Mexico have a sales tax?
New Mexico does not have a traditional sales tax. It has a gross receipts tax, which is imposed on businesses for the privilege of doing business and is usually passed on to customers. The state rate is 4.875%, and counties and cities add their own rates. Businesses register for it through the Taxation and Revenue Department’s Taxpayer Access Point.
How do I get a New Mexico Business Tax ID?
Register online through the Taxation and Revenue Department’s Taxpayer Access Point by selecting the option to apply for a New Mexico Business Tax ID, or file form ACD-31015 at a district office. Registration is free. You receive a Business Tax Identification Number (BTIN), formerly called a CRS number, used for gross receipts tax, compensating tax and withholding.
Can I file a DBA in New Mexico?
New Mexico has no statewide DBA registration for most businesses, and sole proprietors and general partnerships do not register their names with the Secretary of State. An LLC can list an additional name it plans to do business under in its Articles of Organization. Check with your city or county for any local trade name requirements.
What is the minimum wage in New Mexico in 2026?
New Mexico’s statewide minimum wage is $12.00 per hour, the rate in effect since January 1, 2023 under state law. Tipped employees must receive a cash wage of at least $3.00 per hour. Some cities and counties, such as Santa Fe, set higher local minimum wages, so check local rules where your employees work.
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