Initial Fees and Licenses in New Mexico

April 13, 2006

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If you're going to operate your business in New Mexico, when you start up you're likely to incur filing fees and licensing fees depending on the type of business you run and your business form (corporation, sole proprietorship, partnership, or limited liability company (LLC)).

Corporations. If you're doing business as a domestic corporation (a corporation incorporated in New Mexico) or a foreign corporation (a corporation incorporated outside of New Mexico), you will be subject to various fees when you start up. The following are the filing requirements and payments by corporations to the state of New Mexico:

Domestic corporations. The fee for filing articles of incorporation is $1 for each 1,000 authorized shares, with a minimum of $100 and a maximum of $1,000. The fee for filing articles of amendment or restated articles of incorporation increasing authorized shares is computed based upon the preceding fee schedule. If the articles of amendment or restated articles of incorporation do not involve an increase in authorized shares, the fee is $100.
Foreign corporations. A fee of $1 for each 1,000 authorized shares represented in the state is imposed for filing an application for a certificate of authority by a foreign corporation. A minimum fee of $200 and a maximum fee of $1,000 is applicable for the certificate of authority. Foreign corporations pay a $50 fee for an amended certificate of authority.

Limited liability companies (LLCs). If your company is either a domestic or foreign limited liability company (LLC), you must file documents with the New Mexico Corporation Commission. If your company is a domestic LLC, you must deliver articles of organization along with a $50 fee to the state. If your company is a foreign LLC, you must apply for an issuance of a foreign company registration along with a $100 fee to the state. No annual fee is required.

Business licenses and fees. New Mexico requires that you obtain a license and pay a fee if you are operating certain types of businesses in the state. Below is a partial list of some of the types of businesses required to obtain a license. Be sure to check with the state to make sure you are complying with the license requirements for your particular profession.