New Mexico Corporation & LLC Filing Requirements

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We are providing the following for informational purposes only, which should not be a replacement for the advice of those licensed to give tax and legal advice. Further, although we make every effort to keep the information up-to-date, we make no guarantees as to the accuracy of the information presented in this current revision. Please report any problems you encounter to us by CLICKING HERE (please include state and defective link in your report).

 

General Info

Agencies

If you have further questions regarding business filings or fees, need additional filing forms, or want to contact your state's business division, here is the agency's contact information.

 

Public Regulation Commission

Corporations Bureau

P.E.R.A. Building
P.O. Box 1269
Santa Fe, NM  87504-1269
1-800-947-4722 (NM Residents Only)
(505) 827-4502
FAX: (505) 827-4387

http://www.nmprc.state.nm.us/

 

If you have further questions regarding business taxes, need additional tax forms, or want to communicate with your state's tax division, here is the agency's contact information.

 

Taxation and Revenue Department
1100 South St. Francis Drive
P.O. Box 630

Santa Fe, NM  87504-0630

(505) 827-0369

FAX: (505) 827-0469

http://www.tax.newmexico.gov/Pages/TRD-Homepage.aspx

New Mexico State Statutes

To research the State Statutes for New Mexico Corporations, LLCs and Partnerships, click here.

 

Licensing

 

Business Licenses

Contact your state or local agencies regarding licensing issues.

  

 

Corporations 

 

Annual Filing Requirements

 

Biennial Report

Fee:

The initial or biennial profit corporate report filing fee is $25. For late filings, there is a $200 penalty fee assessed. The initial or annual non-profit corporate report filing fee is $10. For late filings, there is a $10 penalty fee assessed.

 

 

Forms:

Biennial Profit Report - Biennial Profit Corporate Report
Initial Report - First Corporate Report

Annual NP Report - Annual Non-Profit Corporate Report

Initial NP Report - First Non-Profit Corporate Report

 

Due Dates:

 

A Biennial Profit Corporation Report must be filed every two years on or before the 15th day of the 3rd month following the end of a corporation's fiscal year.

 

An Annual Non-Profit Corporation Report must be filed on or before the 15th day of the 5th month following the end of a corporation's fiscal year.

 

The first report for profit or non-profit corporations is due within 30 days of the initial incorporation date.

 

Corporation Income & Franchise Tax Returns

Taxes:

The income tax rate is 4.8% of net income up to $500,000; between $500,000 and $1,000,000 the rate is $24,000 plus 6.4% of the excess over $500,000; and over $1,000,000 the rate is $56,000 plus 7.6% of the excess over $1,000,000.

 

A franchise tax payment of $50 is due each year, including short years. S Corporations are not exempt from franchise tax.

 

Forms:

Form CIT-1 - 2012 Corporate Income & Franchise Tax Return (instructions)(information cover)

Form CIT PV - NM 2012 Corporate Income Tax Payment Voucher

Form PTE - 2012 S Corp Pass-Through Entity Form (instructions)
Tax Forms - 2012 Corporate Income Tax Forms

 

Due Date:

 

Tax filing on a calendar year, the return is due on or before March 15th. Filing on a fiscal-year basis, the tax return is due on or before the 15th day of the third month following the close of the fiscal year.

 

Limited Liability Company

 

Annual Filing Requirements


LLC Income & Franchise Tax Returns

Taxes:

The income tax rate is 4.8% of net income up to $500,000; between $500,000 and $1,000,000 the rate is $24,000 plus 6.4% of the excess over $500,000; and over $1,000,000 the rate is $56,000 plus 7.6% of the excess over $1,000,000.

 

A franchise tax payment of $50 is due each year, including short years. LLCs that are not required or do not elect to file a Federal Corporation Income Tax Return are not required to pay the NM Franchise Tax.

Forms:

LLC’s Taxed as a Corporation

Form CIT-1 - 2012 Corporate Income & Franchise Tax Return (if LLC elects to file Federal Corporation Income Tax Return) (instructions)(information cover)

Form CIT PV - NM 2012 Corporate Income Tax Payment Voucher

 

Pass Through LLC’s

S-corporations, limited liability companies and other pass-through entities doing business in the state must file a New Mexico Income and Information Return for Pass-Through Entities (PTE).

Form PTE - 2012 PTE Form (if LLC files as a Partnership) (instructions)

Tax Forms - 2012 Business Tax Forms

 

Due Date:

Tax filing on a calendar year, the return is due on or before March 15th. Filing on a fiscal-year basis, the tax return is due on or before the 15th day of the third month following the close of the fiscal year.

 

Annual Report

There is no annual report requirement for New Mexico LLC’s