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How to start a business in New Mexico

The fees, filing links and deadlines for forming and registering a business in New Mexico, with the official page for each step.

Last verified October 24, 2026 General information, not legal, tax or insurance advice. Each fee shows the date we checked it on the official page. Fees change, so confirm on the official page before you pay.

LLC filing fee: $50
LLC, first year (state fees): $50
Corporation filing fee: $100
Annual report: Not required
DBA filed with: None
General state license: No
Newspaper notice: No

How much does it cost to form an LLC or corporation in New Mexico?

To form an LLC, file Articles of Organization with the New Mexico Secretary of State, Business Services Division for $50 (checked Oct 24, 2026). You can file online. A corporation files Articles of Incorporation for $100 (checked Oct 24, 2026). That filing fee is not the whole bill: see what it costs in the first year.

What does an LLC really cost in its first year in New Mexico?

Filing fees are only part of the cost. Here is every state fee and minimum tax we found that a new LLC must pay to form and stay in good standing for its first year. Example: Single-member LLC filed online at standard speed, operating from day one with no employees; licenses every business must hold are counted, sales tax permits are listed separately.

State fee	Cost	When	Checked
Articles of Organization filing fee	$50	at filing	Oct 24, 2026
Business tax registration with the Taxation and Revenue Department (gross receipts and withholding accounts)	$0	before you start doing business	Oct 24, 2026

First-year total: $50 in state fees. Formation $50. New Mexico LLCs file no annual or biennial report and pay no state LLC fee or franchise tax unless taxed as a corporation, and registering with the Taxation and Revenue Department is free. Excludes the card convenience fee (avoidable by paying with electronic check), city and county licenses such as Albuquerque's $35 business license, registered agent services, and employer costs.

After the first year: No state report or fee is due each year for an LLC that is not taxed as a corporation. Gross receipts tax returns are filed on the schedule the Taxation and Revenue Department assigns, and city licenses such as Albuquerque's renew each year.

Fees that apply only in some cases

State fee	Cost	When	Checked
Card payment convenience fee on the filing Only if you pay by credit or debit card; electronic check is also accepted	Note The Secretary of State's filing guide mentions the fee but gives no amount.	at filing	Check when you file
Franchise tax Only if the LLC elects to be taxed as a corporation	$50	yearly, on Form CIT-1	Oct 24, 2026
Unemployment insurance employer registration If you hire employees	Note Confirm this on the official page before you rely on it.	within 10 days of starting business as an employer	Check when you file
Workers' compensation fee If you must carry workers' comp (three or more workers, or any construction business needing a CID license); $2.55 from the employer plus $2.25 withheld from each covered employee	$2.55	each quarter, on Form TRD-41431	Oct 24, 2026

Not included: city or county licenses, a registered agent service if you hire one, and optional extras such as expedited filing. Fees can change after the date shown; confirm on the official page before you pay.

Do I need to register a DBA in New Mexico?

If you do business under a name that isn’t your legal name, register it as an assumed name (DBA) with the none No state or county trade name registry found for sole proprietors or LLCs; the Secretary of State's only fictitious name form is a board resolution for corporations..

How to file a DBA

Does New Mexico require an annual report?

No. LLCs file no annual or biennial report. Corporations file a $25 report within 30 days of incorporating, then a $25 biennial report by the 15th day of the fourth month after their tax year ends; a domestic corporation that files late owes a $200 penalty. No Secretary of State page says outright that LLCs file no report; the LLC Act has no report section, and bills that would have added one (2007 SB 402, 2015 HB 228) did not pass.

Initial report: No. (checked Oct 24, 2026) None for LLCs. Corporations file an initial corporate report ($25) within 30 days after the certificate of incorporation is issued.

Does New Mexico have a franchise or privilege tax?

Corporations, including S corporations and LLCs taxed as corporations, pay a $50 annual franchise tax on Form CIT-1. A single-member LLC owned by an individual is not taxed as a corporation unless it elects to be, so it owes none.

How do I register for state taxes in New Mexico?

Register with the state revenue agency for sales tax and withholding, and open an unemployment insurance account once you hire your first employee.

Does New Mexico require a general business license?

No. New Mexico doesn’t issue one general business license; what you need depends on your activity and where you operate.

New Mexico has no general state business license. It has a gross receipts tax instead of a sales tax; the tax is on the business, which may pass it on to buyers if it is shown separately on the invoice. Anyone doing business in New Mexico must register with the Taxation and Revenue Department, and there is no fee. Register online through the Taxpayer Access Point (TAP) or on Form ACD-31015; you get a Business Tax Identification Number with accounts for gross receipts, withholding and other taxes. Rates combine state, county and city rates and, since July 1, 2025, generally change only in July. Professional and trade licenses come from the Regulation and Licensing Department. No statewide local license lookup was found.

What local licenses will I need in New Mexico?

Cities and counties set their own licenses, zoning and permits. Call your city or county clerk with your business type and address before you open.

Albuquerque (city)
Since July 1, 2025, every business with a place of business in Albuquerque city limits needs a city business license for each location ($35 a year per license). Apply and renew through the city's online portal; a current New Mexico Taxation and Revenue registration certificate showing the business address is required first. Late renewals carry a late fee, and the city may raise the fee by up to 5% a year.

When do I need workers’ comp in New Mexico?

3 or more employees.

Employers with three or more workers, counting part-time and seasonal workers, must carry coverage. Construction businesses that need a Construction Industries license must carry it no matter how many workers they have. Officers and LLC members who own 10% or more count toward the three, but may opt out of coverage themselves. Farm and ranch employers with three or more workers are covered. The Employer Compliance Bureau also lists LLCs and corporations as needing coverage, with some exceptions, so a one-owner LLC should confirm with the bureau. Covered employers pay a quarterly workers' comp fee to the Taxation and Revenue Department ($2.55 per employee from the employer and $2.25 from the employee since July 1, 2025).

What else should I know about starting a business in New Mexico?

LLCs file Articles of Organization ($50) and corporations file Articles of Incorporation ($1 per 1,000 authorized shares, at least $100 and at most $1,000). The Secretary of State says all business filings are online and paper filings are no longer accepted. Every new filing must upload a Registered Agent Statement of Acceptance. Fees can be paid by card, which adds a convenience fee, or by electronic check. Sole proprietorships and general partnerships do not register with the Secretary of State. No newspaper publication requirement was found in the state's formation pages or statutes.

What to double-check for New Mexico?

A few details below aren't spelled out on the state's own pages. Confirm them on the official page before you file.

Note No Secretary of State page says outright that LLCs file no annual or biennial report; the LLC Act has no report section, and bills that would have added one (2007 SB 402, 2015 HB 228) did not pass.
Note No state or county trade name (DBA) registry was found for sole proprietors or LLCs; the Secretary of State's only fictitious name form is for corporations. https://www.sos.nm.gov/business-services/resources/
Note No official page says outright that New Mexico has no newspaper publication requirement for new LLCs; none was found in the formation pages or the LLC fee statute.
Note The Secretary of State adds a convenience fee to card payments but does not publish the amount; paying by electronic check avoids it.
Note The Workers' Compensation Administration's Employer Compliance Bureau lists LLCs and corporations as needing coverage, with some exceptions, while its FAQ sets the rule at three or more workers; a one-owner LLC should confirm with the bureau at (505) 649-3391. https://www.workerscomp.nm.gov/bureaus/employer-compliance/
Note https://biz.nm.gov/business-navigator/workplace-hiring-requirements
Note Albuquerque's late fee is stated two ways: $10 per day in the license ordinance and $10 per year in the January 2025 fee schedule. https://www.cabq.gov/planning/business-registration-information/upcoming-business-license-ordinance
Note The Secretary of State's online filing system and business search (https://enterprise.sos.nm.gov/) load only in a browser and were not read; they are linked from https://www.sos.nm.gov/business-services/.

What to do next

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Sources

Official pages checked on October 24, 2026.