5 Best New Mexico LLC Formation Services 2023 List (Updated)

Best LLC Formation Service in New Mexico

When you decide to start an LLC in New Mexico, you must thoroughly research and do your homework. Starting an LLC is relatively easy; with professional help, opening an LLC in New Mexico becomes even smoother. You will find many such companies when choosing the best LLC formation service in New Mexico. Surprisingly, every other company will claim to be the best. But who to trust? How do you know who is the best for your business?

LLCBuddy Editors have eased the task for you. We scanned the market and came up with a list of the best LLC formation services in New Mexico. You can compare their services, prices, and other information here before choosing the right one!

If you do not like reading a long article, you can watch the above video for the complete list of best LLC New Mexico LLC formation services. It is mandatory to choose the best LLC formation service in New Mexico, especially when you want to get rid of any hassle while forming your New Mexico LLC. You may start it on your own, but it will not be a wise decision, as missing out any step or even a small thing can lead to the cancellation of the process.

Best LLC Service in New Mexico

On this page, you’ll learn about the following:

Best LLC Formation Services in New Mexico
How to Form an LLC in New Mexico
How to Choose the Best LLC Formation Service in New Mexico
FAQs

Best LLC Formation Services in New Mexico

Here is the list of best LLC services available in New Mexico. The best thing about these services is starting your LLC for free. Some of the following services are offering LLC formation in New Mexico at $0. Other than the state fees and charges, you do not have to pay any charges to the service provider. You will get the basic formation package for free. Now, let’s check out the list of best LLC formation service providers in New Mexico-

LLC Service	Our Rating & Pricing	Top Features	Learn More
#1 TOP PICK	5/5 $0 + State Fees	Free LLC formation Access to Legal Support Trustworthy and established reputation	Learn More
	4/5 $299 + State Fees	Flat pricing for all services Basic business filing services A+ BBB Accredited	Learn More

Below is the list of best LLC formation services in New Mexico we picked for you.

LLCBuddy Editorial Team selects these companies through thorough research and market study. It is recommended that you must cross-check all the factors before choosing the right one for your business.

1. LegalZoom

LegalZoom is one of the service providers in New Mexico that offers free LLC formation services. If you want to avoid spending money to form your LLC, then LegalZoom is for you. It offers various formation packages that include all types of LLC services. Aside from LLC formation, LegalZoom offers C and S corp formation. With over thousands of customers, the company offers basic LLC formation services at $0.

LegalZoom Plans

Basic Package- $0 + State Filing Fees (Tax deduction may be applicable)
Pro Package – $249 + State Filing Fees (Tax deductible may be applicable)
Premium Package – $279 + State Filing Fees (Tax deduction may be applicable)

Apart from these packages, LegalZoom offers a bunch of add-on services as well. Add-on services include the following-

Registered Agent – $299 per year. Available as an add-on and not included in any packages
Trademark registration: Assisting with the US trademark application process
Copyright registration: Guidance on registering copyrights for creative works
Patent services: Support in obtaining utility, design, and plant patents
Estate planning: Offering personalized wills, trusts, and power of attorney documents
Legal advice: Access to a network of lawyers for consultations and legal guidance
Expedited Filing: With an additional $99, you can speed up your filing process.

LegalZoom Pros and Cons

Why You Must Get LegalZoom	Why You Shouldn’t Get LegalZoom
Free LLC formation	Expensive add-ons, such as Registered Agent
Trustworthy and established reputation	Higher pricing compared to some competitors
Quick turnaround time	Less number of add-on options
Access to legal professionals	Some additional fees not included in plan prices
Customer support available through phone or chat	Mixed customer reviews

LegalZoom Overview

LegalZoom is one of the oldest companies in USA. This company is a service provider offering LLC formation at $0. It offers three broad packages, Basic, Pro, and Premium. The Basic package costs $0. Though you must pay the New Mexico filing fee while filing the Articles of Organization with the New Mexico Secretary of State. The filing fee depends on which method, mail, online, or any other method you choose.

LegalZoom offers vast add-ones like others. Hence, the chances of getting diverse services are comparatively high. The best part about the company is there is an access to legal documents and legal consultation. The registered agent service is a bit expensive. If you want to hire Registered Agent from LegalZoom, you must purchase that service separately, it does not come with any formation plans.

Form LLC in New Mexico with LegalZoom

2. BetterLegal

BetterLegal is a comparatively new company than other competitors. But this company has successfully grabbed a large portion of the market in the United States. Serving in 51 states, BetterLegal has been in business since 2016. Unlike other experienced companies, it does not have a list of packages and plans for LLC formation.

BetterLegal Plans

BetterLegal offers one single plan at a flat $299 + state filing fees. It has a list of add-on services as well. BetterLegal is an online service that started off with a very small team. However, even after being in the business for so long, they didn’t increase their team size much. They have transparent pricing, and no hidden charge exists for any services they provide.

BetterLegal offers a list of add-on services. Following are the additional services they offer-

Registered Agent service – $10/month or $90/year
State Annual compliance services – $10/month or $90/year
Permit & License Search Service – $125
Amendment & document research – Free with the core formation service package

BetterLegal Pros and Cons

Why You Must Get BetterLegal	Why You Shouldn’t Get BetterLegal
No refund; all sales are final	The basic package does not include registered agent service
Quick Turnaround time	Additional charge for EIN
A+ BBB Accredited	The basic package does not include a registered agent service
Single plan for all incorporation

BetterLegal Overview

Even though the company is called BetterLegal, no attorneys or legal services are available. The company offers a single plan for all types of business formation. Hence, if you are planning to form a corporation, you can pay $299 + incorporation fee (Minimum $100 to maximum $1000 for filing online or by mai. It depends on the amount of shares in New Mexico). It offers comparatively better turnaround time at a reasonable price than other companies. You can file your LLC within 10 minutes with BetterLegal.

It offers a resource center for new entrepreneurs. They provide guidance to make things easier when it comes to filing your business. Their small team sometimes fails to cater to their customers on time. Reaching out to their customer support team is very difficult. Another disadvantage is it does not have a refund policy. All sales with BetterLegal are final, and at any stage, upon cancelation, no refund is made. However, basic LLC formation and registered agent services are much cheaper in BetterLegal than in other close competitors.

Form LLC in New Mexico with BetterLegal

3. TailorBrands

Do you want to create a brand for your business in New Mexico? Here is the LLC formation service provider, TailorBrands, for you. The company was established in 2015 in New York, and since then, it has offered several incredible services to set up your business. TailorBrands has a single LLC formation plan that starts at $49 a year. You can choose different other add-on services at an additional cost.

TailorBrands Services

TailorBrands offer a single plan for forming an LLC at $49. There are some basic services that TailorBrands offer, including starting an LLC, filing it, New Mexico name availability search, priority support, and so on. You can use their add-on services as and when required. Add-ons are-

Registered Agent Service – $199/year
Employment ID Number (EIN) – $99 (one-time pay)
Annual Compliances – $299/year
Operating Agreement – $29
Expedited Filing – $49
Business bank account – Free

TailorBrands Pros and Cons

Why You Must Get TailorBrands	Why You Shouldn’t Get TailorBrands
Low-cost LLC formation	Not BBB Accredited
Free business bank accounts	No business domain packages
Hassle-free LLC formation	Additional charges to obtain EIN
Additional services like logo, website, domain

TailorBrands Overview

TailorBrands does not have vast LLC formation packages. Instead, it has a single package that includes the formation of LLCs. The name availability search is unlimited, and you don’t have to pay any additional fees. The state filing fee of $50 must be paid apart from the charges you pay for add-ons.

TailorBrands offers other business services such as logo making, domain, website, business bank account, merchandise, and other business services. As a small or start-up business, you must go for TailorBrands.

Form LLC in New Mexico with TailorBrands

4. ZenBusiness

ZenBusiness is a Texas-based company that provides services from formation to annual compliance to an LLC. It offers three plans, Starter, Pro, and Premium. The Starter plan starts from $0. That means you can form your LLC for free in New Mexico, though you must pay the state filing fee of $50 to the New Mexico Secretary of State. But, the company charges nothing to form your business in the state.

ZenBusiness Plans

Starter Plan at $0 + state filing fee
Pro Plan at $199/year + state filing fee
Premium Plan at $299/year + state filing fee

ZenBusiness Pros and Cons

Why You Must Get ZenBusiness	Why You Should Not Get ZenBusiness
100% accuracy rate	Does not form New Mexico nonprofit
Free LLC formation in New Mexico	Additional cost for EIN
User friendly
Standalone Registered Agent services

ZenBusiness Overview

ZenBusiness is one of those top-rated companies that provide business formation in New Mexico at a minimum cost (currently at $0). There is no charge to be paid to the company for forming your LLC in New Mexico. The state filing fee and other necessary fees must be paid, including the registered agent fee.

ZenBusiness offers three plans, among which the Pro plan is recommended. The Pro plan has everything you need to start an LLC in New Mexico. Obtaining EIN, operating agreement drafting, name search, and all other services are available with the rush filing feature.

Form LLC in New Mexico with ZenBusiness

5. Northwest Registered Agent

Northwest Registered Agent is a family-owned business based in Spoken, Washington state. The company offers LLC formation, registered agent service, annual compliances, and other business-related services in all 50 states, including New Mexico. It offers LLC formation at $ 39+ state fees and registered agent service at $125 yearly.

Northwest Plans

Northwest does not have conventional packages. It offers Core, Business maintenance, and business development services. Under these categories, various services are available at a flat rate. Some of the services offered by Northwest in New Mexico are listed below-

LLC formation in New Mexico at $39 + state filing fee
Registered Agent at $125 yearly
Annual report filing at $100 + state filing fee
Obtaining EIN at $50
Northwest offers National Agent Service. If you operate your LLC Registered Agent in 5 or more states, you can pay $100 + state fees (if applicable) to get a single agent for all states.

Northwest Registered Agent Pros and Cons

Why You Must Get Northwest	Why You Should Not Get Northwest
DIY Packages for your LLC in New Mexico	Not BBB accredited
No plans, flat rate for all services	Additional charges to obtain EIN in New Mexico
Purchase only the service you need to form New Mexico LLC.	The operating agreement draft is not included in the Core services
Northwest offers standalone Registered Agent service in New Mexico

Northwest Registered Agent Overview

Northwest is one of those service providers that offer DIY packages. Northwest is not for you if you want a wholesome formation package in New Mexico. It does not have conventional LLC formation packages. It is simply like a departmental store for you. You don’t need to buy everything, but the only thing you need.

Northwest has in-house corporate guides to guide you through the formation process. It offers LLC formation at $39 plus the state filing fee ($50). If you have already formed your LLC in New Mexico and are willing to appoint Registered Agent only, then Northwest can provide a standalone registered agent service at $125 per year.

Northwest offers single flat rates for all services in New Mexico and other states. The best part about the company is it does not outsource any of its services. Northwest offers corporate guides to help you through the steps of LLC formation.

Form LLC in New Mexico with Northwest Registered Agent

How to Form an LLC in New Mexico

New Mexico, popularly known as The Land of Enchantment, is a business-friendly state with a population of 2,135,024. The Nominal Gross Domestic Product (in millions) of New Mexico is $123,819 according to a 2022 study, which has been said to be increased over the past year. Hence, starting your business in New Mexico will always be a good option. If you choose the state capital, Santa Fe, to start your LLC, you might get more tax and other benefits.

To form an LLC in New Mexico, you need to follow some basic steps, including getting an LLC name, appointing your New Mexico Registered Agent, filing the New Mexico Articles of Organization, creating New Mexico LLC operating agreement, and finally getting an EIN for filing required taxes.

You can do that on your own. However, it is always recommended to get a professional person on board to guide you through. These steps are crucial and sensitive. You must complete everything to avoid canceling your formation process. Hence, having a professional LLC formation service for your LLC is better.

How to Choose the Best LLC Formation Service in New Mexico

It is important to choose the best service for your business carefully. Before you select the best one, make sure you thoroughly research on following points-

Reputation: Look for a company with a good reputation. Check reviews and ratings from previous clients to see how they feel about the services offered.
Experience: Choose a company with years of LLC formation experience. This ensures that they have knowledge of the process and can provide quality services.
Cost: Compare prices between different companies. Choose a company that offers affordable pricing for the services you need.
Customer Service: Ensure that the company has good customer service. They should be responsive, helpful, and willing to answer any questions.
Services Offered: Look for a company that offers a range of services, including entity formation, registered agent services, and ongoing compliance support to ensure your LLC remains in good standing.
Ease of Use: Choose a company with a user-friendly website and easy-to-use online platform. This makes the process of forming an LLC simple and straightforward.
Guarantees: Check if the company offers a satisfaction guarantee or a refund policy. This gives you peace of mind that you are getting the best possible service.

FAQs

Can out-of-state residents form an LLC in New Mexico?

Yes, out-of-state residents can form an LLC in New Mexico.

What are the requirements to form an LLC in New Mexico?

To form an LLC in New Mexico, you need to file Articles of Organization with the Corporations Bureau of the New Mexico Secretary of State.

How long does it take to form an LLC in New Mexico?

It takes approximately 10-15 business days to form an LLC in New Mexico.

What is the cost to form an LLC in New Mexico?

The cost to form an LLC in New Mexico is $50.

Is it mandatory to have a registered agent for an LLC in New Mexico?

Yes, you must have a registered agent for your LLC in New Mexico.

Can I be my own registered agent for my LLC in New Mexico?

Yes, as long as you have a physical address in New Mexico to serve as the registered agent.

What services can I expect from LLC formation services in New Mexico?

LLC formation services in New Mexico can help you file your Articles of Organization, obtain necessary state and federal tax IDs, and provide you with legal and tax advice.

What is the liability protection for members of an LLC in New Mexico?

Members of an LLC in New Mexico have limited liability protection, meaning their personal assets are separate from the assets of the LLC.

Does New Mexico impose any franchise taxes on LLCs?

No, New Mexico does not impose any franchise taxes on LLCs.

Can an LLC in New Mexico be taxed as an S corporation?

Yes, an LLC in New Mexico can elect to be taxed as an S corporation.

Can I change my LLC’s name in New Mexico after formation?

Yes, you can change your LLC’s name in New Mexico after formation by filing an Amendment to the Articles of Organization.

Can an LLC in New Mexico have just one member?

Yes, an LLC in New Mexico can have just one member.

Can I start an LLC by myself or do I need multiple members?

You can start an LLC by yourself in New Mexico.

What is the annual report fee for LLCs in New Mexico?

The annual report fee for LLCs in New Mexico is $50.

How many members can an LLC in New Mexico have?

An LLC in New Mexico can have an unlimited number of members.

What is the taxation for LLCs in New Mexico?

LLCs in New Mexico are taxed as sole proprietorships or partnerships by default, but can elect to be taxed as corporations or S corporations.

Can the LLC operating agreement be changed in New Mexico?

Yes, the LLC operating agreement can be changed in New Mexico.

Can I apply for an IRS tax ID number through LLC formation services in New Mexico?

Yes, LLC formation services in New Mexico can help you apply for an IRS tax ID number for your LLC.

What is the fee to file an Amendment to the Articles of Organization in New Mexico?

The fee to file an Amendment to the Articles of Organization in New Mexico is $100.

Do LLCs in New Mexico have to pay state sales tax?

LLCs in New Mexico may be required to collect and remit sales tax on taxable sales.

Can LLCs in New Mexico hire employees?

Yes, LLCs in New Mexico can hire employees.

How do I dissolve an LLC in New Mexico?

To dissolve an LLC in New Mexico, you need to file Articles of Dissolution with the Corporations Bureau of the Secretary of State.

Is there a publication requirement for LLCs in New Mexico?

No, there is no publication requirement for LLCs in New Mexico.

Can I reserve a name for my LLC in New Mexico before filing the Articles of Organization?

Yes, you can reserve a name for your LLC in New Mexico before filing the Articles of Organization.

Can I file the Articles of Organization online for my LLC in New Mexico?

Yes, you can file the Articles of Organization online for your LLC in New Mexico.

How often are annual reports due for LLCs in New Mexico?

The annual report for LLCs in New Mexico is due every year by the 15th day of the fourth month following the LLC’s fiscal year-end.

How long does an LLC in New Mexico last?

LLCs in New Mexico can have perpetual duration unless the Articles of Organization state otherwise.

Can LLCs in New Mexico renew their authorization online?

Yes, LLCs in New Mexico can renew their authorization online.

What is an LLC?

An LLC, or Limited Liability Company, is a type of business entity that offers the liability protection of a corporation but with less formalities.

Why should I form an LLC in New Mexico?

New Mexico offers favorable tax and legal benefits for LLCs, including a low corporate income tax rate and no franchise tax.

How do I form an LLC in New Mexico?

You can form an LLC in New Mexico by filing Articles of Organization with the Secretary of State and paying a fee.

What are the requirements for forming an LLC in New Mexico?

To form an LLC in New Mexico, you must have a registered agent and file Articles of Organization with the Secretary of State.

How much does it cost to form an LLC in New Mexico?

The fee to file Articles of Organization in New Mexico is $50, and you may also need to pay for a registered agent service.

Can I form an LLC without a registered agent in New Mexico?

No, you are required to have a registered agent in New Mexico to form an LLC.

What is a registered agent in New Mexico?

A registered agent is a person or organization that is designated to receive official legal and tax documents on behalf of an LLC.

Can I be my own registered agent in New Mexico?

Yes, you can be your own registered agent in New Mexico, as long as you have a physical address in the state and are available during business hours.

What are the advantages of using a registered agent service in New Mexico?

A registered agent service can provide you with privacy and convenience, as they will receive legal and tax documents on your behalf and ensure they are delivered to you promptly.

What is the New Mexico corporate income tax rate for LLCs?

The New Mexico corporate income tax rate for LLCs is currently 5.9%.

Do LLCs in New Mexico have to pay a franchise tax?

No, LLCs in New Mexico do not have to pay a franchise tax.

Can an LLC be taxed as an S-corporation in New Mexico?

Yes, an LLC in New Mexico can elect to be taxed as an S-corporation.

How do I obtain an EIN for my New Mexico LLC?

You can obtain an EIN for your New Mexico LLC from the IRS by filing Form SS-4.

Is there a minimum capital requirement for forming an LLC in New Mexico?

No, there is no minimum capital requirement for forming an LLC in New Mexico.

Does New Mexico require LLCs to have an operating agreement?

No, New Mexico does not require LLCs to have an operating agreement, but it is recommended.

Can an LLC in New Mexico have a single member?

Yes, an LLC in New Mexico can have a single member.

What is a single-member LLC in New Mexico?

A single-member LLC in New Mexico is an LLC with only one owner.

Can a New Mexico LLC be owned by a foreigner?

Yes, a New Mexico LLC can be owned by a foreigner.

Can a New Mexico LLC have a non-resident as its registered agent?

No, a New Mexico LLC must have a registered agent who is either a resident of New Mexico or a business entity authorized to do business in the state.

What is a Certificate of Good Standing in New Mexico?

A Certificate of Good Standing in New Mexico is a legal document that verifies that an LLC is in compliance with all applicable state laws.

How do I obtain a Certificate of Good Standing in New Mexico?

You can obtain a Certificate of Good Standing in New Mexico by making a request to the Secretary of State’s office and paying a fee.

Can I convert my LLC to a corporation in New Mexico?

Yes, you can convert your LLC to a corporation in New Mexico by filing Articles of Incorporation.

What is the difference between an LLC and a corporation in New Mexico?

The main difference between an LLC and a corporation in New Mexico is the way they are taxed and how ownership is transferred.

Can I dissolve my New Mexico LLC?

Yes, you can dissolve your New Mexico LLC by filing Articles of Dissolution with the Secretary of State.

Can I reinstate my dissolved New Mexico LLC?

Yes, you can reinstate your dissolved New Mexico LLC by filing an Application for Reinstatement.

What is the New Mexico annual report for LLCs?

The New Mexico annual report for LLCs is a form that LLCs are required to file every year to maintain good standing with the state.

How do I file the New Mexico annual report for my LLC?

You can file the New Mexico annual report for your LLC online through the Secretary of State’s website.

Is it necessary to hire a lawyer if I want to form my LLC in New Mexico?

No, it is not necessary to hire a lawyer to form your LLC in New Mexico, but it can be helpful to obtain legal advice before doing so.

Conclusion

Having a professional service to form your LLC in New Mexico is much better than doing it yourself. It is hassle-free, and there is no chance of making mistakes while filing your business. This article lists the best LLC formation services in New Mexico. Before you select one, make sure you compare the price, services, and features properly.