19 Best LLC Services in New Mexico (November 2023)

The Best LLC Service in New Mexico

We recommend Northwest Registered Agent.

Northwest is Best-In-Class: Some other LLC services maybe cheaper but those other LLC services may also sell your private data.

Northwest is a professional firm with top-quality customer support and a policy of ‘Privacy by Default’ for their clients.

I have a personal story to tell

In 2008 I started a business and hired an attorney to do the LLC formation paperwork. I thought it would be complicated.

I paid $600 plus a $50 state fee to the lawyer in his office. The lawyer got on his computer, entered my name, and some basic information, and then printed out several pieces of paper and said “sign here and here”.

The whole process took about 10 minutes for $600. That same lawyer today probably charges $900 for these 10 minutes of work.

After that, I have only worked with online services.

LLC Formation Lawyers in New Mexico

If your business is particularly complex, or if you don’t mind spending $100s of dollars more and want the peace of mind that comes with having an experienced business attorney to form your business entity, you could hire a lawyer instead of a formation service.

Business Attorneys in New Mexico

As I just mentioned, hiring an attorney is more expensive than using an online LLC service, but you will obtain a level of competence and experience that can only be provided by an attorney.

I evaluated a long list of New Mexico business attorneys on AVVO’s website to find the most qualified LLC formation lawyers.

To find respectable lawyers, I researched Avvo’s list of highly-rated business attorneys in New Mexico. Here are my top five picks in New Mexico:

• Slate Stern
• Robert Pampell
• Guy Bluff
• James Plitz
• Sarah Thomas

Tier 2 – Other New Mexico LLC Services

Swyft Filings

Swyft Filings was launched in 2012 and are one of the latest services for LLC formation.

Prices start at $0 + state fee. If you need an EIN and LLC operating agreement, the price is $199 + state fee. Swyft Filings charges $199/year for registered agent services.

MyCompanyWorks

MyCompanyWorks has a basic LLC service package that costs $79 and includes assistance with Articles of Organization, Operating Agreement assistance, an online portal to store legal documents, compliance alerts, and assistance with registering with the New Mexico Secretary of State.

They have maintained mostly positive reviews online. You will need to buy their premium package for $279 if you want a New Mexico registered agent.

Inc Authority

Ask the “free LLC” if they plan to sell your private information. I believe the “Free LLC” is a gimmick just to get you in the door. Yes, their filing service is “free” plus the state fee.

You will need to buy their $399 basic package if you require assistance drafting an Operating Agreement or accessing an EIN.

You will also need to buy their premium $799 package if you want to receive express processing.

Tailor Brands

Tailor Brands is a bit different than the others on my list.

Like their name says, they build brands. Tailor Brands promotes itself as a comprehensive business formation service that provides a complete list of services to entrepreneurs, including compliance and LLC formation, logo design, and branding features.

Tailor Brands offers three formation plans.

Incorporate.com

Incorporate.com offers a $99 base package that includes very few services, similar to Rocket Lawyer or LegalZoom. They offer an online account and assistance in filing your Articles of Organization, and that’s nothing else.

CorpNet

CorpNet has been in business for over 20 years. They will file the initial LLC documents and provide compliance alerts to maintain good standing with the Secretary of State. All for $79.

MyCorporation

MyCorporation is owned and operated by the check printing company Deluxe Corp. Their LLC formation services are like many others on our list.

They charge $133 to prepare your Operating Agreement and process your Articles of Organization. Each additional, comprehensive service comes at an additional cost.

Incorporate Fast

Incorporate Fast offers New Mexico LLC formation services at a low $99 price. This includes assistance with filing documents, assistance with filing them, and an Operating Agreement template.

They offer “same-day” filings. They will process and file your documents within 24 hours of receipt.

If you can upgrade to their $199 package, you get an EIN.

BizFilings

BizFilings, another New Mexico LLC service provider, charges $99 for the basic package. This includes assistance in filing your limited liability company formation documents and a year of their registered agent services.

Like each of the LLC services, they have additional features for additional fees.

Rocket Lawyer

Similar to LegalZoom, Rocket Lawyer offers online legal services. They also offer LLC services such as registering an agent, filing your formation documents, and an online document storage portal.

If you like having access to ongoing legal assistance for a fee, Rocket Lawyer might be a good fit for you.

Active Filings

Active Filings is another LLC formation service, they are based in Dania Beach, Florida. Active Filings has been in business since 2001 but is still a small player in this industry.

According to the company website, they have only four employees.

Direct Incorporation

Direct Incorporation offers the same LLC services that MyCorporation but includes a banking resolution as well as an Employer Identification number. They charge $174 for these services.

If you need an LLC operating agreement, you need to get the next package at $297. They also offer logo design, trademarks, a business website, and email.

InCorp

InCorp costs $99. plus state fees to file your Articles of Organization. Registered agent services are $129 per year.

National Incorporations

Nationwide Incorporators offers basic LLC filing services for $200, and for $475, you get an LLC operating agreement. You get to talk to an attorney.  Pricey!

SunDoc Filings

SunDoc Filings has a $79 base package for filing your Articles of Organization. $70 for an EIN and $69 for an LLC operating agreement.

What is a New Mexico LLC?

A New Mexico LLC, short for limited liability company, is an entity type that combines the flexibility of a sole proprietorship with the financial protection of personal assets.

That’s not a bad thing. Let’s find out what this means.

You would operate as a sole proprietorship if you started selling handcrafted apparel out of your home. Sole proprietorships are legal entities.

This means that everything the business owns, from fabrics to sewing machines, is owned solely by the proprietor. The proprietor pays all taxes.

If the business is sued or taken to court by a third party, the owner may lose all of his or her personal property to pay the damages.

Business entities, such as LLCs, have personal asset protection. This is because the business itself is considered an independent legal entity.

The business can have assets, open a bank account, and be sued. If the business goes under, members of the company cannot lose their assets.

LLCs aren’t subject to a lot of complex requirements, unlike corporations. This makes it an attractive choice for entrepreneurs who want to keep their filings simple and still protect their assets.

Pros and cons of starting a limited liability company in New Mexico

An LLC is one of the most common types of entity in America. However, it’s not the right type of entity for everyone.

Only you know your business best and can choose the entity type most appropriate for you. Your vision is clear for the future and your products.

It’s important to understand the pros and cons of LLCs to decide if an LLC is right for your needs.

Pros

• It is easier to create and manage than a corporation
• Protection of personal assets
• A flexible tax structure can be paid as a partnership (or a corporation)
• Exclusive use of a business name within a state is prohibited

Cons

• No authority can issue stock. Therefore, capital-raising opportunities are limited.
• Some states have higher annual fees and taxes than sole proprietorships or partnerships.
• Some entrepreneurs may not be comfortable with the extra paperwork.

How to set up a New Mexico LLC on your own

You don’t need to use an LLC formation service such as LegalZoom or ZenBusiness. While these services can be very helpful, you can save money by doing it yourself.

1. Choose a company name

New Mexico LLCs need a memorable name that can give potential clients an idea of the products or services available. Names should be unique for both legal and business reasons.

2. Appoint a Registered Agent in New Mexico

As we have mentioned, every LLC requires an agent to accept service of process on its behalf. You can be your own registered agent in most states as long as there is a physical address.

However, we recommend that you appoint another person (an online service) as your agent.

3. File the Articles for Organization

Once completed and filed, this document officially forms your New Mexico business. Some important information will be required, such as your contact information, business address, signatures of your LLC members, and other details. New Mexico charges a $45 filing fee.

It’s easy to set up an LLC. However, it is the maintenance requirements that can be a little more difficult.

4. Register and pay taxes

You will need an IRS Employer Identification Number if you have employees. There are also state-specific taxes. New Mexico has graduated income taxes. Individual rates are between 5% to 6.9%, and corporate rates are between 1% to 6.5%. The Franchise Tax is the largest tax burden. Other taxes, such as sales taxes (6.5%) or miscellaneous taxes, will need to be included.

5. Get permits and licenses

New Mexico does not have a general business license, but many cities and counties do require one. You might also need to apply in order for an industry license.

6. Create a New Mexico LLC Operating Agreement

Even single-member LLCs need to create a master document that outlines how the business will function in the future.

7. Get your annual report.

New Mexico’ annual report is a companion to the annual franchise tax. You will file your New Mexico annual report with the Department of Finance and Administration and not with the Secretary of State. A minimum tax is $150 per year.

8. Get business insurance

All businesses with employees need to have workers’ compensation insurance. A general business liability policy may be an option.

9. Open a bank account for your business

Register for a bank account in your business name to write checks and make business purchases

Our Selection Methodology for Choosing the Best New Mexico LLC Services

This is how I found the best LLC service in New Mexico.

I formed an LLC a few years ago and did a lot of research before doing so. Because I have spent so much time on this subject, I believe I am very capable of finding and recommending the best LLC formation services. I also recommend using a registered agent service rather than being your own.

How did I research and choose the best LLC service in New Mexico?

My research approach included these four steps to select the best New Mexico LLC formation service.

Step 1: Reviews

I began by analyzing the reviews of online customers for the top 19 LLC services in New Mexico.

I spent many nights scrolling through the customer feedback on Trustpilot and Google Business Profiles (among other review websites) to discover which LLC services were new, which seemed questionable, and which were legitimate.

Step 2: Website Analysis

Once I had a good idea of who I could trust, I could go to their websites and see exactly what they offered.

To find out who offered what products or business services, I looked through pricing pages and looked at detailed breakdowns.

Step 3: Talking with real customers

Online customer reviews are only one way to learn. To truly understand the experience of using a service, it is important to talk to the people who use it.

I sought out the opinions of customers who I had recommended to me over the years in order to get a clear understanding of New Mexico LLC services. I wanted to know how easy the system was, how helpful and polite their support staff is, and how fast they process applications.

This direct feedback from customers helped me to see which promises were fakes and which were legitimate.

Step 4: Talking with their Sales Team

The last step was to talk to their sales team to find out how difficult they were with upsells.

I asked several questions that a first-timer would. Then I waited to see how many times I was encouraged to get additional services.

My Testing and Rating Criteria for New Mexico LLC Services

While I was completing my investigative analysis, I was constantly evaluating these LLC formation services on the basis of these four aspects.

1: Features and Services

There are many steps involved in starting an LLC. If you have read at least half of the above, you will know this. Fill out and file your Articles of Organization. You will need an EIN to open bank accounts. Choose a premium registered agent in  to get an address in New Mexico. And a lot more.

To ensure you get as many completed projects as possible when you invest your money, I first assessed each LLC formation company on the business and product services they offer.

2: Pricing

I checked if they charge extra for a lot of pricey add-ons that are not mentioned at first. I liked the very clear services and upfront with everything. The best value LLC formation services rose to the top.

3: Ease of use

It’s a good idea to sign up for a business formation service that offers a variety of products at a reasonable price without any trouble navigating their system.

I created an account with each New Mexico LLC formation service and attempted to register my fictional LLC. This was to ensure that all the systems were easy to use and simple to navigate.

4: Customer service

I was not satisfied with my customer service experiences after the recent corporate trend to outsource customer support to unaffiliated phone centers. These representatives know little about the service they are supporting and the laws and regulations that it is subject to.

I did my best to test their customer service teams to determine the quality of their business formation services. I sent them polite questions, called them to inquire about obvious information, and jumped onto their online chat portals. I also complained about inappropriate things. I wanted to know how they dealt with my comments and requests and how fast it took for them to reply.

Conclusion: New Mexico LLC Formation Services

My investigative analysis resulted in my picking Northwest Registered Agent as the best LLC service for New Mexico.

FAQs

What are the key considerations for selecting the best LLC formation service in New Mexico, especially for entrepreneurs who are debating between a sole proprietorship and an LLC?

Choosing the right LLC formation service in New Mexico is crucial, especially if you’re an entrepreneur weighing the pros and cons of a Sole Proprietorship vs LLC. The top-rated LLC service will offer a comprehensive set of professional services to help you start a business that fits your desired business structure.

Reading customer reviews is a great starting point, as it offers real-world insights into the company’s effectiveness and how well they provide legal services. Look for mentions of business startup guidance, business planning, and other services tailored to entrepreneurs.

Pay attention to pricing plans and make sure to consider what each LLC package includes. The most reliable service providers will offer a variety of options that cover the basics like business registration, Articles of Organization, and company filings, all of which are state requirements in New Mexico.

A Registered Agent service is also essential for compliance with state laws. Therefore, a top-rated LLC service should offer this as part of their formation package. Also, they should assist you in securing all required business licenses and even provide an Operating Agreement, essential for outlining your corporate governance.

In terms of legal compliance, the service you choose should help you obtain a Business Tax ID (EIN), also known as an Employer Identification Number. This is crucial for federal taxation, and often required to open a business bank account.

To simplify the formation process, opt for an online formation service. This often expedites the turnaround time and streamlines the document filing process. In addition, the best services should handle state filings, annual reports, and possibly offer a company seal as a part of their package.

Always inquire about filing fees, as these are typically not included in the initial pricing and can vary significantly. Some services also offer business consulting and access to business advisors, both invaluable resources for business planning and long-term strategy.

In summary, the best LLC formation service for your needs in New Mexico should offer a one-stop solution, meeting all your requirements from entity type selection to ensuring long-term compliance and success.