Form an LLC in New Mexico

👻 The Ghost LLC: Zero Annual Fees, Maximum Privacy

New Mexico isn’t the fastest option—it’s the most affordable option if you hate paperwork and recurring fees. While Wyoming offers speed and Delaware offers prestige, New Mexico offers zero annual costs and complete anonymity.

💰 The 5-Year Cost Comparison

💭 The Math: Over 5 years, you save $350 vs Wyoming and $1,570 vs Delaware. The only cost? Your registered agent ($125/year).

🎯 Step 1: Choose Your New Mexico LLC Name

New Mexico has standard naming requirements with a few quirks:

• Must include “LLC”, “L.L.C.” or “Limited Liability Company”
• Cannot use restricted words like “Bank”, “Insurance”, “University” without approval
• Must be distinguishable from existing New Mexico entities
• Cannot imply government affiliation

Pro Tip: Check availability on the New Mexico Secretary of State website.

Privacy Note: Unlike other states, your LLC name won’t be directly linked to your personal name in public records. New Mexico is exceptionally private.

⚖️ Step 2: Get a Registered Agent (The ONLY Ongoing Cost)

Here’s the reality: Since New Mexico charges $0 annual fees, your registered agent is your only recurring expense.

🏆 Our Recommended Solution: Northwest Registered Agent

Northwest has a physical office in Albuquerque, New Mexico and specializes in privacy-focused LLCs. They offer:

• ✅ Same-day document scanning & secure email forwarding
• ✅ No upsells or hidden fees (flat $125/year)
• ✅ $125/year – Your only recurring cost
• ✅ Privacy protection (they act as your public address)

Get Your New Mexico Registered Agent →

📝 Step 3: File the Articles of Organization

New Mexico calls the formation document “Articles of Organization”, same as most states.

You have two practical filing options:

⚠️ Reality Check on Speed: New Mexico’s Secretary of State is notoriously slow. Even expedited processing takes 10+ days. If you need speed, choose Wyoming (1-3 days). If you want to save money long-term, accept the wait.

🔒 Privacy Feature: Anonymous Ownership

Unlike most states, New Mexico does NOT require you to list member/owner names on the Articles of Organization. Only the “organizer” (typically your registered agent) signs the document.

This means: Your name never appears on public state records. New Mexico offers privacy comparable to Wyoming, but with zero ongoing costs.

🛡️ Step 4: Get Your EIN & Operating Agreement

After New Mexico approves your LLC (in 2-3 weeks), you need two documents:

1. EIN (Employer Identification Number)

Same process as other states. Non-residents can:

• Apply by fax – Fill out Form SS-4 and fax to the IRS (takes 4-6 weeks)
• Use a service – Northwest can get your EIN in 1-2 days

👉 Read our complete EIN guide for non-residents

2. Operating Agreement (YOUR PROOF OF OWNERSHIP)

In New Mexico, your Operating Agreement is critical because the state doesn’t track ownership.

What to include:

• Member names and ownership percentages
• Capital contributions (even if $0)
• Profit/loss allocation
• Management structure (member-managed or manager-managed)

💡 Pro Tip: Northwest provides a free Operating Agreement template. For a single-member LLC, it’s perfectly adequate. Keep it private—you never need to file it with the state.

🚫 The “Zero Annual Report” Advantage

Here’s what makes New Mexico unique in the United States:

What this means for you:

• ✅ No deadline to miss
• ✅ No penalties for forgetting to file
• ✅ No form to fill out every year
• ✅ No reminder emails from the state

Ideal for: People who hate administrative tasks, holding companies that sit dormant for years, privacy enthusiasts who want minimal government interaction.

💸 New Mexico Tax Structure

Zero State Income Tax (for Non-Residents)

If you don’t live in New Mexico and don’t conduct business there, you pay $0 state income tax.

This applies to:

• ✅ E-commerce businesses selling to customers nationwide
• ✅ Digital services (software, consulting, coaching)
• ✅ Passive income (royalties, licensing, investments)
• ✅ Holding companies that own assets

⚠️ Exception: If you have a physical presence in New Mexico (office, employees, inventory), you pay state income tax (5.9% corporate rate).

Sales Tax: 5.125% (But Only if You Have Nexus)

New Mexico has a “gross receipts tax” instead of traditional sales tax. As a non-resident with an online business, you typically won’t owe this unless you store inventory in New Mexico or have significant sales there.

🏦 Opening a US Bank Account

The same digital banks that work for Wyoming also work for New Mexico, though approval may take 1-2 days longer since New Mexico LLCs are less common:

1. Mercury (Best for New Mexico LLCs)

• ✅ 100% online application
• ✅ No minimum balance or monthly fees
• ✅ Accepts New Mexico LLCs easily
• ✅ Fast approval (usually 24-48 hours)

2. Wise Business (For International Payments)

• ✅ Multi-currency accounts (USD, EUR, GBP, etc.)
• ✅ Low international transfer fees
• ✅ Easy approval for New Mexico LLCs

3. Relay Bank (Alternative Option)

• ✅ Built for small businesses
• ✅ Multiple checking accounts (organize by project)
• ✅ Good customer support for less-common states

Documents banks will ask for:

1. Articles of Organization (from New Mexico)
2. EIN Confirmation Letter (from IRS)
3. Operating Agreement (CRITICAL – your proof of ownership)
4. Your passport + proof of address

⚠️ Pro Tip: Since New Mexico doesn’t have public ownership records, banks scrutinize your Operating Agreement more carefully. Make sure it clearly lists you as the owner with specific percentages.

⚖️ New Mexico vs. Wyoming: The Privacy Battle

Choose New Mexico if:

• You want the lowest long-term costs (save $60+/year)
• You hate paperwork and deadlines
• You’re forming a holding company that won’t be actively used
• You prioritize privacy (no public ownership records)
• You’re patient and can wait 2-3 weeks for formation

Choose Wyoming if:

• You need fast formation (1-3 days)
• You want better bank recognition
• You don’t mind paying $60/year for maintenance
• You’re okay with annual filing (simple online form)

👉 Still deciding? Compare all 50 states side-by-side

❓ Frequently Asked Questions

🌵 Ready to Form Your Ghost LLC?

You have two paths to launch your New Mexico LLC:

Launch Your New Mexico LLC →

🌵 The Only State with $0 Annual Fees Forever

✅ Formation in 10-15 days | ✅ Zero annual report | ✅ Maximum privacy