Form a New Mexico LLC from A to Z | Speed LLC

New Mexico is often presented as the "secret state" for US LLCs. The reputation is deserved, but it hides the main point: above all, it is the state that imposes the fewest recurring fees and the fewest formalities on a company owned by a non-resident.

• State fee of $50 on formation, paid once only.
• No annual report to file, unlike Wyoming or Delaware.
• No state tax on the LLC's turnover.
• The names of the members do not appear in public documents.

Who can form a New Mexico LLC?

Any natural or legal person, whatever their nationality and place of residence. New Mexico law requires neither US citizenship, nor a visa, nor presence on US soil, nor a US bank account. This is the point most entrepreneurs overlook: forming the company is the easy part, opening it to a banking system takes a little more attention.

The registered agent: the only real address requirement

A New Mexico LLC must appoint a registered agent: a person or a company with a physical address in the state, reachable during business hours to receive service of process and official mail. A simple PO box is not enough.

It is also what protects your privacy: the address published in official documents is the agent's, not yours. All our packages include the registered agent for the first year.

The steps, in order

The order matters: each step produces a document that the next one depends on. Skipping the name check, for example, exposes you to having the filing rejected after the fees have been paid.

1. Check name availability. The Secretary of State's register is public. A name already taken means the filing is rejected and the state fee is lost.
2. Appoint a registered agent domiciled in New Mexico and obtain their written consent.
3. File the Articles of Organization with the Secretary of State, together with the $50 fee. This is the act that brings the company into existence.
4. Draft the Operating Agreement. New Mexico does not require it, but banks almost always ask for it to open an account, and it sets out how the shares are allocated.
5. Apply for the EIN from the IRS, on Form SS-4. This is the company's federal tax identification number.
6. Open a business bank account in the name of the LLC.
7. Set up your tax compliance: Form 5472 and Form 1120 every year.

What a New Mexico LLC really costs

Providers often advertise a headline price that excludes the official fees. Here are the real line items, with nothing left out.

At Speed LLC, the $50 state fee is included in the advertised price. That is a commercial commitment: you will not discover extra fees at the moment of filing.

The EIN: essential, and available without a Social Security number

The EIN (Employer Identification Number) is your LLC's federal tax number. It is requested by banks, by payment platforms and by Stripe. Good news: it requires neither an SSN nor an ITIN. A non-resident obtains it by filing Form SS-4, by fax or by post.

The obligations that come round every year

This is where the unpleasant surprises pile up, and it is precisely what New Mexico simplifies: no state obligations at all. That leaves the federal obligations, which apply to every LLC owned from abroad.

• Form 5472 together with a Form 1120 return, to be filed no later than 15 April. Failure to file carries a flat penalty of $25,000.
• Renewal of the registered agent, failing which the company falls out of compliance.
• A tax return in your country of residence, under the applicable tax treaty.

Our guide on tax sets out these obligations in detail and how to meet them.

The most expensive mistakes

• Believing there are no reporting obligations. New Mexico imposes none; the IRS imposes two.
• Opening a bank account in your personal name. That destroys the separation of assets, which is the very reason for forming an LLC.
• Letting the registered agent lapse. The company becomes non-compliant and can be administratively dissolved.
• Using a personal address as the registered office. It becomes public and can be consulted by anyone.
• Confusing an LLC with a US company operating on the ground. An LLC owned from Europe involves neither a visa nor presence in the United States.

In summary

New Mexico is the simplest choice for an LLC owned from Europe: $50 once, no annual report, no state tax, and a level of confidentiality few states offer. Your vigilance should focus on the federal obligations, in particular Form 5472.