Setting up an LLC in New Mexico doesn’t have to be complicated, but there are a lot of regulations that you need to know and follow to do it correctly. Although New Mexico is one of the most business-friendly states in the US, there is no requirement for filing annual reports and a high level of privacy for business owners. It is not an anything-goes business environment — there are rules, and one of them is that you will need to assign a registered agent.
Unless you have had experience running a business in the past, you may be wondering, what is a registered agent? The best way to think of a registered agent is as the contact person for your corporation. Registered agents have a number of responsibilities, including:
Registered agents handle a lot of critical correspondence, and they will have access to sensitive business documents. Therefore, you will need to appoint the right registered agent for your business. But before you can do that, you need to make sure the person you want to appoint can legally be a registered agent under New Mexico law.
Although you have a choice of whom to assign as the registered agent for your LLC in New Mexico, not everyone qualifies. Registered agents in the state of New Mexico must fulfill several requirements. Luckily, the list of prerequisites is not very long.
All registered agents in New Mexico must:
While it may not be difficult to qualify as a New Mexico registered agent, it is essential that you inform the government of your choice in a timely and correct manner. Businesses that fail to do so may face legal and financial penalties.
Appointing a registered agent for your New Mexico LLC is one of the requirements you must meet before you can initially file your LLC’s articles of organization. Since New Mexico does not allow filing by mail, your only option is to do it online through the New Mexico Secretary of State website. If you don’t already have an account, you will need to create one before logging on.
There is no additional fee to appoint a registered agent when you first create and submit the articles of organizations for your LLC, but you will need to be able to upload a “Statement of Acceptance of Appointment as Registered Agent” form that is filled out and signed by the person you are appointing.
Situations evolve, and there may come a time when you want to change the person you appointed as your business’s registered agent when you first created your LLC. Luckily, in New Mexico, changing the registered agent for your business is quite simple, and you can easily complete it online by following these steps:
Yes, you may appoint anyone who fulfills the requirements listed above to be the registered agent for your business–including yourself. At first, being your own registered agent may seem like the best option, but in the end, most LLC owners wind up appointing someone else to take on the role.
There are several good reasons why it may not be the best idea to take the responsibility of being your own registered agent. The owners of LLCs often find it best to hire a professional New Mexico registered agent service to be their representative. The section below goes over some of the most common reasons why business owners choose this path.
You have a variety of options when it comes to hiring a professional registered agent in New Mexico. Although using a registered agent service will cost you a bit of money, it is a very valuable option, and it will offer you a whole range of advantages. Some of these benefits include:
It’s your business, and it is natural to be concerned that you are doing everything you can to protect it. When you hire a professional registered agent for your LLC, you know that the person is sure to comply with all the applicable laws to keep their business in good standing and will encourage you to do the same. When you don’t have to spend your time worrying about misplacing a letter, you can concentrate on your day-to-day business activities, knowing that an important document will not be lost in the shuffle.
Businesses in New Mexico need to follow a lot of compliance regulations. Since you may not be an expert in all the compliance laws that deal with receiving legal correspondence, such as service of process, having someone who is experienced can help you feel confident that you are not going to get into any legal trouble.
No one wants to be tied down to a particular place during regular business hours. When you have a dedicated professional registered agent working on your behalf, you don’t need to always be available. That will give you more free time that you can use to build your business and let you live your life without additional restraints.
Most businesses get a lot of mail, and organizing and storing all of it can take a lot of time and be a real hassle. Many professional registered agents will digitalize your mail for you. That means not only can you access it from anywhere, but it is also easy to store on your computer, and you can quickly find any document you may need.
At the end of the day, the decision as to whether you have the necessary time, patience, and energy to take on the role of your LLC’s registered agent or if you choose to hire someone else to do it for you is up to you. If you do go with a professional registered agent service, it is critical to compare the services that they offer, as well as their expertise in the industry.
Tailor Brands offers not only a professional registered agent service for New Mexico LLCs, and we have many products and services to help anyone start and maintain their LLCs.
Changes in the way the New Mexico Secretary of State handles appointing registered agents can occur. It is always best to double-check the current rules by visiting the New Mexico Secretary of State website or by calling the Business Services Division at 505-827-3600.
The address of the registered agent is the one listed to receive official documents, and it must be an actual, physical address. A business address is where the majority of business takes place and can be a physical office or residence, a virtual office, or a mailbox rental address. Therefore, a registered agent address and a business address do not need to be the same.
Once all the paperwork is submitted to the Secretary of State, it can take up to 15 days for the records to be updated. During that time, you may continue to receive documents at the registered agent’s previous address. That means it is best to allow for some overlap when switching.
You can use the New Mexico Secretary of State website to check for any updates.
This portion of our website is for informational or educational purposes only. Tailor Brands is not a law firm, and the information on this website does not constitute legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, Tailor Brands is not responsible for the information and/or its accuracy or completeness. It also does not indicate any affiliation between Tailor Brands and any other brands, services or logos on this page.
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