What You Should Know About New Mexico, the 47th State

New Mexico’s official nickname is the Land of Enchantment, and it perfectly captures the state’s mystical allure. The vast, open skies, dramatic sunsets, and historical sites create a deep connection to the earth and history. New Mexico is steeped in history, from ancient Native American civilizations to Spanish colonization. Historic towns like Albuquerque and Santa Fe feature adobe architecture, old missions, and centuries-old traditions. Cities like Santa Fe and Taos are known as creative hubs, with many galleries and festivals that showcase the state’s artistic heritage.

Five Fun Facts about New Mexico

Corp1 is excited to extend its commitment to nationwide customer service by opening our New Mexico office. We thought we would share some fun facts we discovered along the way:

1. New Mexico is the only state in the U.S. with an official state question: “Red or green?” This question refers to the type of chile pepper you’d like on your food. New Mexico cuisine prominently features red and green chiles, which are famous worldwide.
2. New Mexico is home to one of the most famous UFO incidents in history. In 1947, a mysterious object crashed near Roswell, leading to decades of speculation about extraterrestrial life.
3. New Mexico is the birthplace of the Atomic Age. The first atomic bomb was tested at the Trinity Site in 1945 as part of the Manhattan Project, marking the dawn of the nuclear era.
4. Albuquerque hosts the annual International Balloon Fiesta, the largest hot-air balloon festival in the world. Hundreds of colorful balloons fill the skies, creating a stunning visual spectacle.
5. Despite being known as a desert state, New Mexico has incredibly diverse landscapes, including forests, snow-capped mountains, and even sandy white gypsum dunes, as seen in White Sands National Park.

And… did you know that New Mexico is one of the few states in the US that allows you to form an anonymous LLC?

What is an Anonymous LLC?

Today, you can find almost anything by searching the internet. There are a few states that currently allow the formation of anonymous LLCs: New Mexico, Wyoming, and Nevada. This type of LLC protects the identities of business owners and entrepreneurs, shielding their identity on the public record. This designation does not affect the LLC’s functionality.

The downside is that your clients or customers may feel uncomfortable about the fact that information is kept private from the public record.

The anonymous LLC is formed as any other LLC in New Mexico.

• Choose the name, and we will see if it is available. The name must end with one of these designations: Limited Liability Company, LLC, Limited Company, or Ltd. Co.
• Type of entity: Limited Liability Companies have become a favored choice for operating a business and have gained popularity over the past twenty years as their unique advantages are widely known. An LLC is a hybrid – a combination of a corporation and a partnership. LLCs enjoy the limited liability of a corporation and the pass-thru tax treatment of a partnership, where the individual members (owners) take the tax liability to their personal tax returns. This can be especially advantageous as a substitute for an “S” corporation when the entity cannot meet the requirements of an “S” corporation but desires the advantages of the tax pass-through.
• Member/Manager information is required but not for anonymous LLCs.
• You must have a registered agent. A registered agent is an individual or entity designated by a corporation, nonprofit, or LLC to receive service of process, tax notices or information, and other necessary correspondence.
• File the LLC with the New Mexico Secretary of State. (We can do this for you!)
• Read more in our Blog, “8 Steps to Forming a Business Entity.”

When are Annual Reports due in New Mexico?

Corporate housekeeping is essential when keeping your corporation active and in good standing.

• All Corporations must file a New Mexico Biennial Report every other year on or before the 15th day of the 3rd month after the taxable year date every other year.
• Foreign or domestic Nonprofits must file a New Mexico Annual Report once a year on the 15th day of the 5th month after the fiscal year-end.
• New Mexico LLCs, foreign or domestic, have no annual or biennial filing requirements.
• New Mexico LPs and LLPs, foreign or domestic, file a Biennial Report due between January 1st and April 1st every other year, starting the first year after formation.

A late filing penalty of $200 will be added for untimely filing of any report. The report must be filed whether a corporation is active or inactive or until the corporation is relieved from filing the report as required by law. If a change is made affecting the report after filing the corporate report, a supplemental report shall be filed within thirty days.

Are You Ready to Start Your Business in New Mexico?

Corp1 has offices in New Mexico, Delaware, Wyoming, and Colorado.  But we don’t stop there! We can form your corporation LLC, PLLC, or non-profit in all 50 states.  Let us be there for you as you start your business and remove the worry. Contact us for a quick call; you will be in business soon!

Please note: The information in this article is not intended to substitute for professional, legal, or tax advice. Corp1 Inc. always recommends contacting your tax or legal professional to determine the best course of action for all legal or financial matters.