LLC Cost in New Mexico – How Much to Pay for an LLC

Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

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Perhaps you are hoping to form a New Mexico LLC. People assume that starting an LLC is difficult and costly. However, it’s generally not difficult, and the cost would vary across states. We have all the info you need to know about the cost of forming an LLC, particularly the LLC cost in New Mexico.

New Mexico LLC Cost of Filing

Here are the costs involved in forming an LLC in New Mexico.

Cost of Filing Formation Certificates

The New Mexico Certificate of Formation is responsible for the majority of the cost, which could also vary depending on whether you’re forming a domestic LLC or a foreign LLC. Still, you can file both at the New Mexico Secretary of State.

New Mexico Domestic LLC

  • Online Filing costs $50.
  • Annual Report filing not required
  • Name Reservation fee costs $20

New Mexico Foreign LLC

  • Online Filing costs $100.
  • Annual Report filing not required
  • Name Reservation fee costs $40
  • By Mail: Fill out the application form, and send it to Secretary of State Corporations Bureau Chartered Documents Division 325 Don Gaspar, Suite 300 Santa Fe, New Mexico 87501. Costs $100.

Note that filing online is ideal, not only because you need to go to the Secretary of State office, but also it would be faster. You won’t have to wait in a queue in doing so.

New Mexico LLC Formation Service or Registered Agent Fee

You need a registered agent to form an LLC in New Mexico, hence, added costs for service fees. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.

LLC Service

Our Rating & Pricing

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$0 + State Fees

  • 100% accuracy guarantee

  • Worry-free service

  • Great customer support

  • Established reputation

  • Extras are bit more expensive

  • Good customer support

Business Permits and Licenses

The business licenses depend on your business’s activity and location and are renewed yearly. As such, the cost will vary. Check the New Mexico Department of Revenue for regulatory boards or agencies requiring licensing.

Taxes Payable to New Mexico Department of Revenue

This article is your ultimate guide to the several taxes that an LLC has to pay in New Mexico. Read on to know the taxes levied by the state & federal governments in New Mexico.

The state taxes to be paid to the New Mexico Department of Revenue are :

State Income Tax

Every member of the LLC formed in New Mexico is liable for the State Income Tax. This tax is charged on the amount a person earns himself through the LLC. Usually, this tax is calculated while filing personal income tax returns. The standard income tax rate in New Mexico ranges from 1.7% to 4.9%, depending on the amount a person earns.

State Sales & Use Tax

The current state sales & use tax rate on LLC in New Mexico is 6.625%. However, the tax rate changes as per the region or city in which the LLC is formed. Every LLC that sells tangible items or is a service provider, has to collect this type of tax & then pay it to the New Mexico Department of Revenue.

Federal Self-Employment Tax

Similar to the State tax, every person earning money from the LLC has to pay this type of tax. It is sometimes called Social Security or Medicare tax. The Federal self-employment tax rate in New Mexico is 15.3 percent.

Federal Income Tax

The Federal Income Tax is levied on the LLC, depending on the earnings of the LLC, the tax bracket applicable to such earnings, & the manner of filing. This Tax is levied on all the profits earned by the company.

Employee & Employer Taxes

An LLC with several employees drawing monthly salaries has to also pay Employee-Employer taxes, in addition to the taxes mentioned above. These tax implications vary, depending on various factors, e.g., the amount, number of employees, etc.

Cost Comparison Between States

New Mexico is surrounded by many states, namely Colorado, Oklahoma, Texas, Arizona, etc. Each of these states has a different rate of taxes levied on LLCs. Let us take a look at this comparative chart.

StatesFiling FeeAnnual/Biennial FeeSales Tax
New Mexico$50None6.625%

Based on the kind of industry you LLC operated in, your LLC will be liable to some other taxes & duties. For Example, if your LLC is in the sector of import & export, you have to pay the import-export duty. You should consult with a professional to verify the tax rates or business costs of registering an LLC in New Mexico.

Other Costs


Can I start an LLC for free?

It is possible to form an LLC without professional help, but forms still have associated costs, regardless of where your LLC is formed.

Is an LLC expensive?

It is difficult to say whether forming an LLC is expensive. Nevertheless, the cost could be anywhere from $40 to $500. If you refuse to hire professionals, you’ll still have expenses like form fees to cover.

Does an LLC need a bank account?

The need to separate personal money from business funds, thus necessitating the creation of a business bank account for your LLC.

How Much Does It Cost to Maintain an LLC in New Mexico

To maintain an LLC in New Mexico you do not need to pay an annual fee. However, state income tax at 1.7% to 4.9%, sales & use tax at 6.625% and federal taxes are levied.

One of the primary costs that business owners must factor in when maintaining an LLC in New Mexico is the annual report fee. In order to keep your LLC in good standing with the state, you will need to file an annual report every year and pay the associated fee. Failing to do so can result in penalties and even the dissolution of your LLC. While the annual report fee in New Mexico is relatively modest compared to some states, it is still an important expense that must be budgeted for.

Additionally, there are also other potential costs that business owners may need to consider when maintaining an LLC in New Mexico. These can include fees for things like business licenses, permits, and insurance. Depending on the nature of your business and where it operates, these costs can vary greatly. It’s crucial for business owners to research and understand the specific requirements and costs that may apply to their LLC.

Another cost to keep in mind when maintaining an LLC in New Mexico is the potential need for professional services. While creating and maintaining an LLC can be done without the help of an attorney or accountant, many business owners choose to enlist the services of these professionals to ensure compliance with state laws and regulations. Additionally, hiring professionals can help streamline the process and provide peace of mind that everything is being handled correctly.

Lastly, business owners should also consider the ongoing operational costs associated with running an LLC in New Mexico. These can include expenses such as office rent, utilities, salaries, and marketing. While these costs are not specific to maintaining an LLC, they are an essential part of operating any business. It’s important for business owners to carefully budget for these expenses to ensure the long-term success of their LLC.

In conclusion, while the benefits of forming an LLC in New Mexico are clear, it’s important for business owners to also consider the costs associated with maintaining this business structure. From annual report fees to potential professional services and operational costs, there are several expenses that must be factored in. By understanding and budgeting for these costs, business owners can ensure the continued success of their LLC in the state of New Mexico.

In Conclusion

The cost of New Mexico is much lower compared to other forms of business. Apart from the state filing fees and annual taxes, you might bear the cost of the registered agent. Compare the price of professional LLC services and choose the most affordable one.

1 thought on “LLC Cost in New Mexico – How Much to Pay for an LLC”

  1. Hola soy Arquitecto Mexicano, me interesa prestar mis servicios en Estados Unidos mediante una LLC en el estado de Nuevo Mexico, soy residente mexicano en el estado de Baja California.


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