How to Find the Best Registered Agent in New Mexico
What is a New Mexico registered agent?
According to New Mexico Statutes, Section 53, all businesses formed in the state must appoint and maintain a registered agent when they begin business formation. The New Mexico Secretary of State defines a registered agent as a person or business entity that accepts service of process and official correspondence for a business organization.
A registered agent in New Mexico is the point of contact between your business and the Secretary of State.
The primary responsibilities of an appointed agent are to accept legal notices and important documents that include:
- Articles of Organization– the New Mexico limited liability company (LLC) formation documents
- Articles of Incorporation – formation documents for corporations
- Certificate of Good Standing– a requirement to apply for business loans
- Corporate income and franchise tax – due by or before the 15th day of the fourth month after the end of the tax year
A registered agent is a physical address in New Mexico
New Mexico state law requires all registered agents to have a street address and a physical presence to accept official documents and notices from the Secretary of State and law firms.
You can choose to use the physical address of your registered agent as the business address for public record purposes.
An agent is your point of contact
The purpose of appointing a registered agent is so that the New Mexico Secretary of State is ensured that there is a person available during regular business hours to accept time-sensitive documents, including subpoenas.
You have 30 days to respond to a legal summons in New Mexico.
A business or individual that doesn’t respond to a subpoena may face default judgments and other monetary sanctions.
A registered agent service is a fee schedule
The corporate income and franchise tax is due by the 15th day of the fourth month following the taxable year to the New Mexico Department of Taxation and Revenue.
If you do not submit the fee on time, you will lose good standing and any liability protection in New Mexico.
When you appoint a professional registered agent service, an agent will remind you when fees and documents are due using a compliance calendar and assist you in filing on time.
Cost of a registered agent in New Mexico
In New Mexico, a registered agent must be 18 years old and have a street address.
If you meet the New Mexico registered agent requirements, you can serve as your own registered agent free of charge.
You can also appoint anyone else as long as they meet the prerequisites to be a registered agent, including:
- family member
- trusted friend
- an LLC member
Appointing a New Mexico commercial registered agent service costs between $50 and $500, depending on the service.
When to appoint a registered agent
You must appoint a registered agent when you form a business. You provide that registered agent information on the business registration you file with the New Mexico Secretary of State.
An LLC in New Mexico uses the Articles of Organization to list the registered agent’s name and address.
Corporations appoint a registered agent using the Articles of Incorporation.
How does a New Mexico LLC appoint a registered agent?
File the Articles of Organization
In New Mexico, you can only file the Articles of Organization online using the Corporations and Business Services e-filing system.
Appoint your registered agent
The New Mexico Articles of Organization form will have you to provide information including:
- registered agent name
- registered agent address
Submit the statement of acceptance of appointment form
A registered agent in New Mexico must consent to the appointment.
The agent or service will complete and sign the statement of acceptance of appointment by designated successor registered agent form and submit it by mail or online.
Pay your New Mexico filing fees
The cost to file New Mexico Articles of Organization is $50.
The New Mexico Secretary of State offers no expedited business filing services.
The cost to file your LLC Articles of Organization in New Mexico is $50.
How to change your registered agent in New Mexico
The New Mexico Secretary of State requires a business to notify them if there is a change in the registered agent or a registered office address change.
Submit the change of registered agent form online
You must file the change of registered agent form online using the New Mexico Corporations and Business Services e-filing system.
The cost to switch registered agents in New Mexico varies depending on business structure:
- $25 – corporations
- $20 – LLCs
- $10 – nonprofits
The cost to switch registered agents in New Mexico is $20 for LLCs.
How to resign as a registered agent in New Mexico
You must submit a written statement of resignation to the New Mexico Secretary of State along with a copy of the document.
The Corporations Bureau will then send that copy of the statement to the company you’re resigning from.
The statement of resignation as a registered agent in New Mexico must include the following:
- business entity
- business ID number
- registered agent address
- the business’ principal office address
- the business’ mailing address
- statement of resignation
The New Mexico Corporations Bureau does not charge to resign as a registered agent.
Benefits of appointing a registered agent in New Mexico
You shield your liability protection
Corporate income and franchise tax have a due date that falls after the end of the tax year, making it a hassle to track.
But, if you even accidentally submit the New Mexico state tax late, you can lose good standing and any asset protection.
Commercial registered agent services utilize compliance calendars so that you submit taxes and documents on time.
You’re safeguarding your privacy
Some small business owners work from private offices or home addresses. When appointing yourself as your registered agent, that personal address is the business address listed in the public record.
Anyone can use the New Mexico Business Search and search by:
- business entity name
- DBA name
- business ID
- registration number
If you appoint an outside registered agent, you can use the registered office address as your business address and stay out of the public record.
You secure your discretion
A process server in New Mexico can come to a business office without notifying the owner.
By appointing a registered agent service, the sensitive documents go into the hands of a third-party representative and out of the view of customers.
You make your own work schedule
New Mexico Statutes state that a registered agent must be available during regular business hours in order to receive official corrresponce from the Secretary of State, law firms, and the New Mexico Department of Taxation and Revenue.
Appointing yourself will mean that you are responsible for being available during normal business hours.
When you appoint an outside agent or service, you have flexibility in your work schedule and only have to work the hours you want.
You can retrieve your Certificate of Good Standing from anywhere
A bank will require you to show proof of good standing in New Mexico to open to business bank accounts or apply for loans.
Professional registered agent services provide customers online access to the Certificate of Good Standing and other formation documents, making doing business easier.
You can expand your business into other states
When you decide to form a foreign LLC in a different state, you must appoint a registered agent.
Business owners that have one already benefit because they can start the process immediately with the help of an agent.
Why would you change registered agents in New Mexico?
You have a variety of reasons why you must switch registered agents, including disputes, retirement, or the service going out of business.
Can my business mail be delivered to my registered agent’s New Mexico address?
Most registered agent services aren’t mail-forwarding services, nor do they accept business mail. Professional services typically charge extra for scanning any non-official correspondence.
What happens if I don’t appoint a registered agent in New Mexico?
The state of New Mexico will reject business formation documents that don’t list a registered agent. And the Secretary of State does not require an annual report, which makes future compliance easy.
How do I become a registered agent in New Mexico?
To become a resident agent in New Mexico, a business must list you as the appointed registered agent. You must then submit the statement of acceptance of appointment by designated successor registered agent form to the Corporations Bureau.
Is a registered agent a member of New Mexico LLC?
An owner or member of an LLC can serve as a registered agent for their company. But, an outside appoint registered agent isn’t a member of the LLC and is not liable for any wrongdoings by the company.
Start a Limited Liability Company Online Today
Click on the state below to get started.