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New Mexico Registered Agent

Date: 07/06/2015 | Category: | Author: Jakub Vele

New Mexico Registered Agent / Resident Agent

Pricing $89.00 per year, special for pre-pay $40 per year

Don’t get fooled by companies claiming the lowest price and increasing it later. Our pricing is very simple. We charge $89 per year. We also have few specials. Whenever you decide to pre-pay additional years you get them for $40/year.

New Company

starting business
(new corporation, LLC, etc.)

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Change of Agent

changing existing
agent to us

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Renewals

existing clients
for NM resident agent

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Why you need a Registered Agent?

New Mexico State laws require business entities to maintain a Resident Agent in the state that you form your business. The agent’s name and office address are included in the Articles of Incorporation or Articles of Organization to give public notice of where to send important documents to your business entity.

If you need Registered agent in other State than New Mexico click here.
We offer Registered Agent service in all 50 States.

State Fee for changing New Mexico Registered Agent

Change of Registered Agent/Registered office for a Corp.: $10.00; for a LLC: $20.00.

Registered Agent Requirements

Each corporation shall have and continuously maintain in New Mexico: A. a registered office which may be, but need not be, the same as its principal office; and B. a registered agent, which agent may be either an individual resident in New Mexico whose business office is identical with such registered office, or a domestic corporation, whether for profit or not for profit, or a foreign corporation, whether for profit or not for profit, authorized to transact business or conduct affairs in New Mexico, having an office identical with such registered office.

New Mexico Annual Report

Date: | Category: | Author: Jakub Vele

Annual Reports for New Mexico Corporations & LLCs

An initial report is due within thirty (30) days after the date on which the Commission issued the corporation’s Certificate of Incorporation. If not filed by this date, you owe a late penalty of two hundred dollars ($200.00), unless the Commission granted an extension pursuant to NMSA Section 53-5-6. If the report is late and the Commission did not grant a extension, insert two hundred dollars ($200.00) in box 9b and total the fees owed. Payment of fees must accompany this report or the Commission will not accept it for filing.

A biennial report is due on or before the fifteenth day of the third month following the end of the corporation’s taxable year (see Subsection C of 12.3.2.8 NMAC for information on determining your filing year). A supplemental report is due within thirty (30) days of the change necessitating the report. If not filed by these dates, you owe a late penalty of two hundred dollars ($200.00), unless the Commission granted an extension pursuant to NMSA Section 53-5-6. If the report is late and the Commission did not grant an extension, insert two hundred dollars ($200.00) in box 9b and total the fees owed. Payment of fees must accompany this report or the Commission will not accept it for filing.

A Biennial Profit Corporate Report is required every other year depending on the last digit of the NMPRC number. If the corporation has a last digit that is even, then they file a Biennial Profit Corporate Report for the even taxable year-ends. The opposite will apply to the odd last digit NMPRC number corporations, as they will file for the odd taxable year-ends.
LLCs are exempt from filing reports.

If you need help, we can file the initial and/or biennial report for you. Our fee is only $15. To order our service, please click on the following link:

Order New Mexico Biennial Report Service

Additional Services

Date: | Category: | Author: Jakub Vele

New Mexico Additional Services

TAX ID (Employment Identification Number - EIN) - FREE

Self-Service: Obtaining a Tax ID number doesn’t cost any money. You can apply by phone, fax or mail. You can also call toll free at (800) 829 4933 and get EIN instantly over the phone. If you apply by fax, it takes about 4-5 business days. If you apply by mail, it takes about 3-4 weeks. Please find information about Tax ID – EIN here.

Full Service: Do you need assistance with obtaining a tax ID? We can help prepare the form and obtain the tax ID for $45. Order here Tax ID.

S CORPORATION STATUS ELECTION

What is “S Corporation”?: An “S Corporation” is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its request for Subchapter S status. As a legal entity (an artificial person), the S corporation is separate and distinct from the corporation’s owners (the stockholders). Under Nevada incorporation law, there is no distinction between a C corporation and an S corporation. The incorporation process is the same. However, the two type of corporate entities are subject to differing federal and state tax treatment. Our cost is $45. Order S Corporation filing here.

CORPORATE KITS

Corporate kits start at only $82.50. LLC and INC. Click here to order corporate/LLC kits for any U.S. state.

NEW MEXICO CERTIFICATE OF GOOD STANDING

A certificate of good standing (certificate of existence) is a document issued by the Secretary of State certifying that your corporation does exist legally and that it is in good standing with the state. We can obtain one for you. The fee is $89 + state fee.

NEW MEXICO APOSTILLE

In 1981, the United States joined the 1961 Hague Convention abolishing the Requirement of Legalization for Foreign Public Documents. The Convention provides for the authentication of public (including notarized) documents to be used in countries that have joined the convention. Apostille of Articles of Incorporation or other document is issued by the Secretary of State. Price is $89 + state fee.

NEW MEXICO REINSTATEMENT OF CORPORATION/LLC

If your charter was revoked and you want reinstate the company, you have to pay all due fees and penalties and file appropriate annual reports.

Do you need somebody to handle reinstatement for you? Please contact us! We charge $89. We can find out how much money you owe for state fees.

NEW MEXICO AMENDMENTS OF ARTICLES

There are times when a business needs to change the information included in the Articles of Incorporation or Articles of Organization. To do this, you need to file an amendment with the New Mexico Secretary of State. Some reasons a business may need to file an amendment are to change the company’s name, to expand or alter the company’s business purpose, or to change the number of authorized shares or par value (for corporations only).

Do you need somebody to handle the filing of amendment for you? Please contact us! We charge $89 + state fees. Pay by PayPal (our email address is paypal@https://incparadise.net).

FOREIGN QUALIFICATION (all U.S. states)

Registration of foreign company qualifying to conduct business in other states: If your company expects to transact business outside your state of formation, your company may be required to qualify as a “foreign corporation” or “foreign LLC.” We can file the necessary paperwork to qualify your business as a foreign corporation or LLC in any of the 50 states.

Do you need somebody to handle foreign qualification for you? Please contact us!

Read more information about Foreign Qualification here
Foreign qualification fees

U.S. ADDRESS FOR PERSONAL OR BUSINESS USE AND MAIL FORWARDING

Do you need U.S. street address as your mailing address. Mail is forwarded once a week. We offer mail forwarding service based in Las Vegas, NV.
There are two options:
$150 per year. $2.50 per mailout plus postage.
$99 per year. $5.50 per mailout plus postage.

To order mail forwarding, click here.

BUSINESS LICENSE REPORT

Business licenses are mandatory for every business in the USA to operate legally. You may require federal, state, local licenses, permits, and tax regulations for your business.

Obtaining business licenses and permits is a daunting and time-consuming process as it entirely depends on the business industry, location, etc. IncParadise makes the business license process easy for you by delivering a report that lists the required federal, state, local licenses, permits, and tax regulations. Our expert research team searches, identifies and verifies the local, state, and federal licenses and permit requirements for your business type and location. They then send you the report with a list of these business license requirements so that you can save yourself time and effort.

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TOLL-FREE NUMBERS

We offer the best toll-free numbers on the market. Nationwide businesses, mid-sized and small businesses, and families can order toll-free 800 services and get a number that rings directly to your home or business. Redirect it to your fax machine or cell phone and back as you change locations. Track calls on the Internet in real time. Select an easily remembered vanity number for your business. You will get: custom routing, voice mail, inbound faxing, website account management, call recording, lead generation, vanity numbers, national toll-free database search and much more!

More information here.

Advantages of Incorporating a Business in New Mexico

Date: 11/20/2018 | Category: | Author: Jakub Vele

Advantages of Incorporating a Business in New Mexico

The “land of enchantment”, New Mexico is considered to have one of the best pro-business environments in the country. Although there are several reasons why you should register a new company in New Mexico the top most is the tax structure created to support manufacturers. According to a report by Ernst & Young, New Mexico has the lowest effective corporate income tax rate for manufacturing. There has also been a 22% reduction in corporate tax across all industries. Some of the other supporting factors for small businesses include:

  • Zero inventory tax
  • Competitive Incentives
  • One of the lowest property tax in the nation
  • Low energy costs
  • Affordable real estate

Advantages of setting up an LLC Or Corporation

If you are thinking of a startup company in New Mexico then the good news is that the State of New Mexico and its communities are offering existing and future employers or businesses aggressive incentives as this will facilitate job creation as well as investment. The incentives vary from one industry to another with top industries being Advanced Manufacturing, Emerging Technologies, Logistics, Transportation & Distribution, Energy & Natural Resources, and IT & Data Centers. Of course, there are salient advantages on the type of business you form whether it is an LLC or a Corporation in New Mexico.

Advantage#1: Salient benefits of Corporation or LLC formation

Corporation

  • Incentives according to industry: Whether you form a C Corporation or an S Corporation, there are several benefits available based on the type of industry you choose e.g., you can leverage the following incentive programs in the Advanced Manufacturing industry:
    –  Trade Support Company in a Border Zone
    –  Angel Investment Credit
    –  High Wage Jobs Tax Credit
    –  Consumables Gross Receipts Tax Deduction for Manufacturers
    –  Investment Tax Credit for Manufacturers
    –  Single Sales Factor
    –  Rural Jobs Tax Credit
    –  Texas/New Mexico Border Residents’ Tax Exemption
  • Independent Life: If you register a new business in New Mexico as an S Corporation then the most important advantage is that it will enjoy an independent life. The business entity will continue operation undisturbed even if it faced the death of one of its stockholders.
  • Pass through taxation: If you register a new company in New Mexico as an S corporation then the corporation or firm will not pay any income tax. Instead, the income or loss of the corporation will be passed on to the stockholders.

LLC

  • Flexibility of taxation: When you register a new business in New Mexico as an LLC, the choice of taxation can vary from that of a sole proprietorship, partnership, C Corporation or S corporation and this provides great flexibility.
  • Incentives according to industry: If you are planning to form a limited liability company, there are several benefits and incentive programs that you can benefit from. These are available based on the type of industry you choose e.g., you can leverage the following incentive programs in the “Value Added Agriculture” industry:
    – Rural Jobs Tax Credit
    – Consumables Gross Receipts Tax Deduction for Manufacturers
    – Beer & Wine Producers’ Preferential Tax Rate
    – Investment Tax Credit for Manufacturers
    – Opportunity Zone tax credits and other incentives
    – Texas/New Mexico Border Residents’ Tax Exemption
    – Single Sales Factor
  • Limited Liability: The owner of a New Mexico LLC will be able to enjoy limited liability protection, which means creditors can sue the LLC but not the owner or investors.

Advantage#2: Business Incentives

There are several factors that are responsible for creating a pro-business climate and the foremost among them are the various incentives and financing programs. A start-up company in New Mexico has to qualify for the incentive programs. Most of these programs are state governed although some are Federal incentive programs. Let’s take a look at a few of such incentive programs:

  • High-Wage Jobs Tax Credit: This is a tax credit program that you can qualify for after you register a new company in New Mexico. You can get credit on 10 percent of the wages. The ceiling for this tax credit is $12,000.
  • Manufacturers Investment Tax Credit: This is a tax credit aimed at businesses in the manufacturing industry or sector. Your business can get a maximum tax credit of 5.125 percent of the value of machinery or equipment purchased as well as any other property that is being used in business operation. This credit can also be applied against gross receipts, compensating, or withholding tax of up to 85% of the total.
  • Rural Jobs Tax Credit: You can apply for this tax credit only after you register a new business in New Mexico. This credit is applied on taxes that are due on (state) gross receipts, personal income tax, or corporate income tax. It is also important to ensure your business is situated in Tier 1 or Tier 2 rural areas. This tax credit can be carried forward for a period of 3 years. Tax Credit Application

Are there any Disadvantages of Incorporating in New Mexico?

If you register a new company in New Mexico, whether domestic or foreign, the business will enjoy benefits that aid in the overall growth process. There are but a few disadvantages although they will not have any negative impact on your business in the long run. The process of incorporation takes more time and is monitored by federal, state as well as local agencies leading to paperwork that is compliant with the regulations. As for an LLC, it can be quite difficult to raise financial capital although that problem is solved by the state based grants and loan programs.

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New Mexico Business License

Date: | Category: | Author: Jakub Vele

New Mexico Business License

Now that your business is registered in the state of New Mexico, when can you begin operations? A business ideally can begin operating only after they have acquired a business license or a permit to operate or transact in the said state. At the same time, it is important to remember that not all types of businesses require a license.

New Mexico Business License Requirements

You are probably thinking how you would find out if your business requires a license or a permit or both? Who is responsible for issuing business licenses in New Mexico? These are important questions and hence, we have created a guide that will help you answer some of these questions.

Here is a step-by-step approach towards acquiring New Mexico company license:

Step#1: The Industry or Business Type

The state of New Mexico provides business licenses and permits to different types of businesses. The type of industry or the activities of a business helps in identifying the type of business license required. Different licenses are issued by different state departments. Let’s look at an example to understand this well.

Types of License based on Industry

Alcohol and Gaming – Alcohol and Gaming Division

License fee varies according to the type of establishment. For instance, a Wholesaler license for all types of liquor is $2,500 while a Wine Bottler license fee is $500. There is a separate fee for violations and penalties.

List of Fee and Penalties

Motor Vehicle Sales Finance Companies – Financial Industries Division

The fee for domestic companies is $400 and that of foreign business entities is $500.

Sample License Application

Food service establishment – New Mexico Environment Department (NMED)

If you start a food service establishment then you will require a permit and not a business license.

The different types of license or permit issued by NMED are:

  • Retail Food
  • Manufactured Food
  • Temporary food establishment (TFE)
  • Tribal Foods
  • Home-Based Food Processor

Sample Application for Food Facility

Note: At the same time, it is important to know that there are certain businesses that may require county or city clerk issued licenses instead of state licenses.

These are some of the categories for which statewide licenses are issued. Click here to check for other NM state licenses.

Step#2: Licenses issued by County

If your business type or service offered doesn’t fall under a statewide license then you will have to check with the local county office. Let’s take a look at an example to understand this better.

If you establish a business in the City of Bloomfield, NM and the focus area of your business is Outdoor/special events then your New Mexico company license will be issued by the City Clerk office.

There is a late fee of $10 on license renewals. The license fee varies according to type of business or service, for example, the fee is $35 for a food vending vehicle (per vehicle).

It is important to note that if, the city clerk after an inspection determines that the issuance of a New Mexico business license will be in conflict with the city, state or federal laws then the chances of the license application being denied will be higher.

Step#3: License Issued

How can you get your license or permit issued? Once you have identified the type of business, industry or service being offered, you need to download the application form and submit it along with the fee to the right authority. You can search here for a state business license type. You can also contact the New Mexico Regulation and Licensing Authority for most of the state licenses. The fee and renewal date will vary according to business type.

On the other hand, if you were to start a business in the City of Roswell then the Business License Clerk in the Code Enforcement Department will be responsible for issuing of the license. The license fee is $35 for Commercial Businesses and the renewal is on the last day of the months of March, June, September, and December (of every year).

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Incorporate in New Mexico

Date: 11/16/2018 | Category: | Author: Jakub Vele

Incorporate in New Mexico

New Mexico has witnessed a growth in its economy as well as formation of new businesses in a range of industries and sectors. As of today, if you are planning to set up a company in New Mexico then some of the industries that you can look at for business growth and profitability include fossil fuel and alternative energy resources, Accommodation and Food Services, Mining and Oil and Gas Extraction, Finance and Insurance, food processing, and high-technology industries. Some of the top companies headquartered in New Mexico include Los Alamos National Security LLC, Lovelace Health System, Presbyterian, TriCore Reference Laboratories, MBF Inspection Services Inc., US Cotton, Mountain View Catering, and JB Henderson Construction among others.

Why Choose New Mexico for Incorporation?

Why should you opt for company incorporation in New Mexico? There are several reasons but above all are the benefits and advantages that businesses enjoy. The fact is that New Mexico provides a variety of economic incentives to small and medium sized enterprises and hence there has seen growth in the number of small businesses in the state.

Now let’s take a look at some of the salient benefits that are responsible for fuelling growth of small businesses in this state:

  • Texas/New Mexico Border Residents’ Tax Exemption: This is an innovative business incentives that ensures that an enterprise involved in manufacturing, and situated within 20 miles of the Mexican border and has at least 5 New Mexico residents as employees, can qualify for this tax exemption program. The program is being administered by the NM Taxation & Revenue Department and is aimed at helping businesses that set up companies in New Mexico minimize cost, maximize productivity, as well as enhance workforce stability.
  • Foreign Trade Zone (FTZ): The Foreign Trade Zone is a designated area that is situated inside New Mexico and is treated as if it is outside the U.S. border for custom entry purpose. If you plan incorporation in New Mexico FTZ then you will be able to import, and manufacture goods while reducing or completely eliminating any custom duties applicable. List of FTZ

How do you incorporate in New Mexico?

Is there a process for company incorporation in New Mexico? Do you require any specific documents? How can you submit or file these documents? These are some of the questions that you will be confronted with and hence the following steps will provide you with information on how incorporation works in New Mexico:

Type of Business

What type of business would you like to form in New Mexico? The most common business structures in the state of New Mexico are corporations, Limited Liability Companies, partnerships, and limited partnerships. If you are planning to form a corporation then you need to identify whether it is a domestic or foreign entity as the documentation, fee, and other aspects would be different. The first step towards company incorporation in New Mexico is to identify the type of business you want to set up.

Business Entity Name

What is the next step towards incorporation in New Mexico? The next step is to identify and reserve a name and this can be done as follows:

  • Naming Requirements: The naming requirements for LLC should be pursuant to Section 53-19-3 NMSA 1978 while that of a business corporation should be pursuant to NM Stat § 53-6-6 NMSA 1978. The name of each limited liability company must contain words like “Limited Liability Company” or abbreviations like “L.L.C.” or “LLC”. A corporate name must contain words like “corporation”, or “incorporated” or abbreviations like “corp.” or “inc.”
  • Business name search: You need to search for a business name that is not in use currently. You can conduct name search here.
  • Name Reservation: Once you have identified business entity name, you can reserve the name with the Secretary of State, Corporation Department for a period of 120 days.
  • Name Registration: If you are foreign entity planning to set up a company in New Mexico then you will be required to register your business name with the Secretary of State, Corporation Department pursuant to Section 53-19-50 NMSA 1978.

Choose a Registered Agent

According to NM Stat § 53-6-7 (1996 through 1st Sess 50th Legis) for business corporation and Section 53-19-5 NMSA 1978 for LLC, each business entity needs to designate a registered agent in the state of New Mexico. We are one of the respected registered agents in New Mexico and will be responsible for initiating company incorporation in New Mexico through processing of all your documents including “Articles of Incorporation” for domestic corporations and ” Certificate of Authority” for foreign corporations.

Articles of Incorporation and Certificate of Authority

If you are planning to form a domestic corporation, then you will have to file “Articles of incorporation” pursuant to NM Stat § 53-12-1 to 53-12-6 (1996 through 1st Sess 50th Legis). If you are planning to form a foreign business incorporation in New Mexico then you will be required to file a “Certificate of Authority” pursuant to NM Stat § 53-17-5 tO 53-17-6 NMSA 1978. In order to streamline the process we can file documents on your behalf through the online process or through expedited process.

Date Stamped Copies

As a part of the process of company incorporation in New Mexico, we will ensure, you receive date-stamped and filed copies that verifies the state has filed as well as formed your corporation.

Costs and Fees associated with New Mexico Incorporation

What would it cost to set up company in New Mexico? Check Fees here!

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