Decide on the legal structure of your business. See our business tax structure page. Common options include:

• Sole Proprietorship
• Partnership
• Limited Liability Company (LLC)
• C-Corporation (C-Corp)
• S-Corporation (S-Corp)
• Nonprofit

For more information, see our Tax Structure Guide!

New Mexico does not require you to reserve a business name before registration, but it’s recommended to ensure your desired name is available:

• Check Name Availability: New Mexico Business Entity Search
• Reserve a Business Name: Fee: $50.
  • File Online

Submit the necessary formation documents based on your business structure to the New Mexico Secretary of State:

• LLC: File Articles of Organization.

  • Fee: $50.
  • File Online 

• Corporation: File Articles of Incorporation.

  • Fee: $100.
  • File Online 

If operating under a name different from your legal business name, register a Trade Name (DBA) with the New Mexico Secretary of State:

• Fee: $50.
• File Online 

If your business will hire employees or sell goods, register with the New Mexico Taxation and Revenue Department:

• Combined Reporting System (CRS) Number: Required for all businesses to report and pay gross receipts tax, withholding tax, and compensating tax.
  • Register Online

Certain businesses may require additional permits or licenses depending on their industry or location:

• Use New Mexico’s Business Portal to identify required licenses:
  • https://www.newmexico.gov/business/

Separate your personal and business finances by opening a business bank account using:

• Your EIN (Employer Identification Number).
• Formation documents or operating agreement.

• Biennial (every other year) Reports: LLCs and Corporations must file a Biennial Report with the New Mexico Secretary of State:
  • Fee: $25.
  • File Online 

• New Mexico Secretary of State – Business Services: https://www.sos.state.nm.us/
• New Mexico Taxation and Revenue Department: https://www.tax.newmexico.gov/
• New Mexico Small Business Development Center (SBDC): https://www.nmsbdc.org/