You did it. Your New Mexico LLC is officially up and running, ready to take on challenges, roll in the profits, and change the world.
There’s no doubt that this is an exciting time in your business journey. After starting your LLC, it’s easy to get carried away in all the excitement and expectations. After all, as a new business owner, you’ve got a lot on your plate.
Most states have ongoing maintenance requirements for LLCs called annual reports, which allow the state to keep tabs on your company’s organizational structure and some other important details. However, New Mexico is one of a small handful of states that does not require any sort of regular reporting from LLCs.
Not only does this take some responsibilities off of your entrepreneurial plate, but it also cuts back on your expenses. While business owners in nearly all other states have to make room in their budgets for an annual (or biannual) payment to the state, New Mexico entrepreneurs have nothing to worry about in this regard.
However, there are still some situations in which you should inform the state of changes to your business. For instance, if you change your New Mexico registered agent, you will need to file a Statement of Change form with the state. And if you amend your LLC’s business purpose or ownership group, you must submit an Articles of Amendment form. But outside of these types of circumstances, you do not need to keep up any sort of regular reporting requirement with the state of New Mexico.
So, you can sit back, relax, and enjoy operating your compliant New Mexico LLC without worrying about annual reports!
If you’d like to hand off this responsibility to save time and focus on running your business, affordable LLC services are a great solution. Not only will they form your business in the first place, but they’ll also manage ongoing requirements like ongoing report filing. Once you're ready to lock it down, have ZenBusiness file all the paperwork.
Still Working on Forming Your LLC?
If the LLC formation process seems overwhelming, you can always enlist the help of an LLC formation service. These businesses can quickly and effectively form your LLC, ensuring that all of your documents are filed correctly and fees are paid on time.
Some (like ZenBusiness and IncFile) will even handle your ongoing registered agent and compliance requirements. Just turn everything over to them and your LLC will be off the ground before you know it.