New Mexico · Corporation
How to Start a Corporation in New Mexico
New Mexico asks for a report right after you form, then only every other year.
See the stepsShort answer
To start a corporation in New Mexico, file Articles of Incorporation with the New Mexico Secretary of State. At checkout that is $129 for New Mexico plus $123.75 for our formation, $252.75 before card processing. Your first report, the First Report, adds $25 within 30 days of the date of incorporation. The fee is $1 per 1,000 authorized shares, with a $100 minimum and $1,000 maximum. Then file a first report within 30 days ($25), and a $25 biennial report every other year.
Last checked .How do I incorporate in New Mexico, step by step?
New Mexico requires a first report within 30 days of incorporating, then a biennial report every other year. Even or odd years depend on the last digit of your certificate number.
Choose and check the name
Your name must be distinguishable from names on file with the Secretary of State. Search before you file, and reserve it if you need time. See the New Mexico name search guide.
Name a registered agent
Every corporation needs one in the state (the rule). Ours is $74.25 a year.
File domestic profit corporation articles of incorporation
File the Domestic Profit Corporation Articles of Incorporation with New Mexico. The fee at our checkout is $129. Details are below.
Adopt bylaws
Bylaws are the board's rules: how directors are elected, how meetings run and how officers are chosen. Every corporation we form includes them.
Name directors, officers and issue shares
A New Mexico corporation has 1 or more directors, and its officers and titles are set in its bylaws or a board resolution. 4 Hold an organizational meeting, record it in minutes, and issue stock to the owners.
Get an EIN
The EIN is the corporation's federal tax ID. The IRS issues it free at irs.gov.
Register for state taxes
Register with New Mexico Taxation and Revenue Department: business registration for the combined reporting system (gross receipts tax, withholding) through the Taxation and Revenue portal. 8
File the annual report
Put the first deadline on your calendar before you file anything else. See the New Mexico annual report page and the filings below.
How much does it cost to incorporate in New Mexico?
| Item | Cost | When |
|---|---|---|
| State fees (what our checkout charges) | $129 | At filing |
| Our formation, bylaws included | $123.75 | At filing |
| Total for the filing | $252.75 | Before card processing |
| With our registered agent for a year (Formation + Registered Agent) | $307.20 | At filing |
| With the Day-One Bundle | $351 | At filing |
| First Report (first report) | $25 5 | within 30 days of the date of incorporation |
| Biennial Report (every two years) | $25 6 | 15th day of the third month after the end of the corporation's taxable year, in even or odd years by the last digit of the certificate number |
| First-year total: filing, our formation and the first report | $277.75 | Before card processing |
| Registered agent after the first year | $74.25 a year | Optional |
Card processing is added at checkout and shown before you pay. State fees: the state's published fee for the Domestic Profit Corporation Articles of Incorporation is $100; our checkout charges $129 on the state side, and the state's fee schedule does not itemize the other $29. You see it before you pay.
New Mexico at a glance
| Question | New Mexico |
|---|---|
| Formation filing and state fee | Domestic Profit Corporation Articles of Incorporation, $100 1 |
| Name rule | Must contain the separate word corporation, company, incorporated or limited, or a separate abbreviation of one 2 |
| Registered agent | Registered office and registered agent in New Mexico (resident individual whose business office is the registered office, or an authorized corporation) 3 |
| Directors and officers | At least 1 director; officers: officers with titles set in the bylaws or a board resolution 4 |
| First report after filing | First Report, $25, due within 30 days of the date of incorporation 5 |
| Annual report | Biennial Report, $25, due 15th day of the third month after the end of the corporation's taxable year, in even or odd years by the last digit of the certificate number (every two years) 6 |
| Corporate income tax | 4.8% to 5.9%, graduated, minimum $50 7 |
Do I need a registered agent in New Mexico?
A New Mexico corporation must keep a registered office and a registered agent in the state. 3 You can be your own agent if you have a street address in the state and are there in business hours, but the address goes on the public record. Ours, through our partner Registered Agents Inc, is $74.25 a year, or $178.20 with the formation. New Mexico registered agent rules.
What goes in the New Mexico domestic profit corporation articles of incorporation?
File Articles of Incorporation for a domestic profit corporation. The fee is $1 per 1,000 authorized shares, minimum $100, maximum $1,000. State the registered agent and office.
Which annual reports and franchise taxes will a New Mexico corporation owe?
File the $25 first report within 30 days, then a $25 biennial report, due the fifteenth day of the third month after your taxable year ends. Late costs $200.
- New Mexico requires a first report within thirty days of incorporation, and the filing fee is $25. 5
- New Mexico corporations file a biennial report every other year for a $25 fee, with a $200 late filing penalty; the report is due on the fifteenth day of the third month after the taxable year ends. 6
- New Mexico taxes C corporation income at 4.8% up to $500,000 and $24,000 plus 5.9% of the excess above that (schedule for tax years from 2020; the state's pass-through page confirms 5.9% as the current top rate), plus the $50 franchise tax. 7
How do I start an S corp in New Mexico?
A corporation is a C corporation unless it elects otherwise. An S corp is a tax election, not another kind of entity. The order is plain: form the corporation, get the EIN, then file IRS Form 2553 within 2 months and 15 days after start of the tax year the election takes effect (or any time in the prior tax year) 10. New Mexico follows the federal classification: the federal return an entity files determines its New Mexico return, and an entity taxed as an S corporation files the New Mexico S-Corp return. 9
We file Form 2553 for $165. Run your own numbers in the calculator or read New Mexico: S corp or C corp.
Should I form a corporation or an LLC in New Mexico?
Shares, a board and officers. The usual choice when you plan to raise money from investors or issue stock options.
Fewer formalities and flexible ownership. Often the simpler choice for one owner or a small team.
Compare the two: How to start an LLC in New Mexico.
Raising venture money? Investors usually ask for a Delaware C corporation, which you then register in New Mexico as a foreign corporation. See how to start a corporation in Delaware.
What do I do after filing in New Mexico?
- Adopt the bylaws and hold the first board meeting; write minutes.
- Issue stock to the owners and keep a stock ledger.
- Get the EIN, open a business bank account and keep money separate.
Form your New Mexico corporation
We file it for $123.75 plus the state fee ($129), with bylaws included. Add the registered agent for $178.20 in all, or take the Day-One Bundle at $222.
Common questions
How much does it cost to incorporate in New Mexico?
$1 per 1,000 authorized shares, with a $100 minimum and $1,000 maximum.
Does New Mexico require an annual report for corporations?
No. It requires a $25 biennial report every other year.
Which years do I file the New Mexico biennial report?
An even last digit on your certificate number files in even years, an odd digit in odd years.
What is the penalty for a late New Mexico corporate report?
$200.
Sources 10 links, checked Nov 7, 2026
- New Mexico charges $1 for each 1,000 authorized shares to file articles of incorporation, with a minimum of $100 and a maximum of $1,000. nmlegis.gov, checked Nov 7, 2026
- A New Mexico corporation's name must contain the separate word corporation, company, incorporated or limited, or a separate abbreviation of one of them. nmonesource.com, checked Nov 7, 2026
- A New Mexico corporation must keep a registered office and a registered agent in the state. nmonesource.com, checked Nov 7, 2026
- A New Mexico corporation has 1 or more directors, and its officers and titles are set in its bylaws or a board resolution. nmonesource.com, checked Nov 7, 2026
- New Mexico requires a first report within thirty days of incorporation, and the filing fee is $25. srca.nm.gov, checked Nov 7, 2026
- New Mexico corporations file a biennial report every other year for a $25 fee, with a $200 late filing penalty; the report is due on the fifteenth day of the third month after the taxable year ends. srca.nm.gov, checked Nov 7, 2026
- New Mexico taxes C corporation income at 4.8% up to $500,000 and $24,000 plus 5.9% of the excess above that (schedule for tax years from 2020; the state's pass-through page confirms 5.9% as the current top rate), plus the $50 franchise tax. tax.newmexico.gov, checked Nov 6, 2026
- A New Mexico business learns how to register with the Taxation and Revenue Department and file and pay its taxes on the department's business page. tax.newmexico.gov, checked Nov 7, 2026
- New Mexico follows the federal classification: the federal return an entity files determines its New Mexico return, and an entity taxed as an S corporation files the New Mexico S-Corp return. tax.newmexico.gov, checked Nov 6, 2026
- IRS: Form 2553 instructions irs.gov, checked Nov 6, 2026
Last verified Nov 7, 2026.
This page explains the rules; it is not legal or tax advice.