New Mexico LLC annual filing requirements
New Mexico is unusual compared to most states because most LLCs do not file an annual report with the Secretary of State. However, New Mexico LLCs may still have recurring compliance obligations, especially related to taxes and maintaining good standing. This guide focuses on what typically applies and where to confirm your specific situation.
Summary
| Item | Who | When | Cost | Penalties | Official Source |
|---|---|---|---|---|---|
| Annual report to NM Secretary of State | Most New Mexico LLCs | Not required (typical) | N/A | N/A | https://www.sos.nm.gov/business-services/ |
| State tax filings (e.g., CRS / gross receipts-related returns, withholding, etc., as applicable) | LLCs with NM tax accounts and taxable activity | Varies by tax type and filing frequency | Varies | Varies (tax penalties/interest may apply) | https://www.tax.newmexico.gov/ |
| Registered agent maintenance | All New Mexico LLCs | Ongoing (update when changes occur) | Varies | Administrative issues and potential loss of good standing if you cannot be served | https://www.sos.nm.gov/business-services/ |
| Update company information (amendments/changes) | LLCs that change name, registered agent, address, management, etc. | As changes occur | Check official state source | Possible inability to receive notices/service; possible compliance issues | https://www.sos.nm.gov/business-services/ |
What you must file
- New Mexico Secretary of State annual report: Generally not required for most New Mexico LLCs. (Always confirm for your specific entity type and any special registrations.)
- Tax filings (as applicable): Many LLCs have recurring tax filings depending on activity (for example, gross receipts-related reporting, withholding tax if you have employees, and other state tax programs if registered).
- Updates when changes happen: If your LLC changes key information (such as registered agent or company name), you typically must file the appropriate change/amendment forms.
- Business licenses/permits (if applicable): Some industries and local jurisdictions require renewals. Check the relevant city/county/state agency.
Related filings
- Colorado LLC annual filing requirements
- Texas LLC annual filing requirements
- Arizona LLC annual filing requirements
Deadlines
- Secretary of State annual report deadline: Typically none for New Mexico LLCs because an annual report is generally not required.
- Tax deadlines: Varies by tax type and assigned filing frequency (monthly/quarterly/annual). Check your New Mexico Taxation & Revenue Department account and official guidance.
- Registered agent and company changes: File updates promptly after a change. Check official state source for any specific timing requirements.
Fees
- Annual report fee (NM SOS): Typically N/A for New Mexico LLCs because an annual report is generally not required.
- Fees for amendments/changes: Check official state source. Fees can depend on the type of filing (registered agent change, amendments, reinstatement, etc.).
- Tax filing payments: Based on your taxable activity and program enrollment. See the New Mexico Taxation & Revenue Department for current rates and requirements.
Penalties if late
- No annual report: Since an annual report is typically not required for NM LLCs, there is usually no annual report late penalty.
- Late tax filings/payments: Penalties and interest may apply if required tax returns or payments are late. Amounts depend on tax type and circumstances. Refer to official NM TRD guidance.
- Outdated registered agent/company info: If your LLC cannot be reached or served, you may face legal and administrative problems (missed notices, default judgments, difficulty obtaining certificates, etc.). Requirements and consequences can vary by situation.
Official source links
- New Mexico Secretary of State (Business Services): https://www.sos.nm.gov/business-services/
- New Mexico Taxation and Revenue Department: https://www.tax.newmexico.gov/
- New Mexico statutes (optional reference): https://nmonesource.com/
- If you need a specific fee or due date for a particular filing: Check official state source.
FAQ
1) Does New Mexico require LLCs to file an annual report?
In general, New Mexico LLCs do not file an annual report with the Secretary of State. Confirm your specific entity details using the official NM SOS resources.
2) If there is no annual report, what should I do each year to stay compliant?
Review whether you have any recurring state tax filings, keep your registered agent and address information current, and renew any required licenses/permits for your industry or locality.
3) Do I need to pay an annual fee to keep my New Mexico LLC active?
There is typically no Secretary of State annual report fee for NM LLCs because an annual report is generally not required. You may still owe taxes or other renewal fees depending on your business.
4) What happens if I forget a required tax filing?
Late tax returns or payments can trigger penalties and interest. The amounts and rules depend on the specific tax program. Check the New Mexico Taxation & Revenue Department guidance for details.
5) When do I need to update my registered agent or business address?
Update your records as soon as a change occurs. Keeping an accurate registered agent and address helps ensure you receive legal notices and state correspondence.
Many owners use registered agents or filing services to avoid late fees and penalties.
Legal disclaimer
This article is for general informational purposes only and does not constitute legal, tax, or accounting advice. Requirements can change, and your obligations may vary based on your LLC’s activities and registrations. Consult the New Mexico Secretary of State and New Mexico Taxation and Revenue Department for the most current information, and consider speaking with a qualified attorney or tax professional about your specific situation.