New Mexico is one of the most popular states for forming "anonymous LLCs" — Articles of Organization don't require members or managers to be named on the public filing, and there's no annual report at all. Filing the Articles of Organization with the New Mexico Secretary of State costs $50, with online approval through NM Enterprise in 1–3 business days. The catch isn't the formation cost — it's the Gross Receipts Tax (GRT), New Mexico's broad tax on business gross receipts at 4.875% statewide plus local add-ons up to 9.5%. The GRT applies to most business activities (not just retail), so service-based LLCs feel it heavily. Top individual income tax is 5.9%. New Mexico's economy is anchored by oil and gas (Permian Basin), film production (Albuquerque became a major Hollywood backup with Netflix's ABQ Studios), and federal labs (Sandia, Los Alamos). For solo founders prioritizing privacy and minimal ongoing paperwork, New Mexico is one of the strongest options.
Why form your LLC in New Mexico
New Mexico is one of the most popular states for "anonymous LLCs" because owner names are not required on Articles. Pair that with no annual report and you have a low-touch holding-company option.
- No annual report required — once formed, no recurring SOS filing
- Anonymous LLC — Articles don't require member/manager names on public filing
- Cheap $50 filing fee, fast 1–3 business day approval
- Major film production cluster (Netflix ABQ Studios, NBC, AMC)
- Strong oil & gas (Permian Basin) and federal labs (Sandia, Los Alamos)
- No franchise tax
Best fit for: Oil & gas (Permian Basin) · Film production · Federal labs (Sandia, Los Alamos)
Don’t want to file yourself? Northwest Registered Agent files your New Mexico LLC for $39 + state fee and acts as your registered agent the first year free.
How to form a New Mexico LLC in 7 steps
- 1Search the New Mexico business name database
Use the New Mexico Secretary of State business search to confirm name availability. The name must include "Limited Liability Company", "Limited Company", "L.L.C.", "L.C.", "LLC", or "LC". Reserve a name for $20 (held 120 days) if needed.
- 2Appoint a New Mexico registered agent
Required to have a physical New Mexico street address. Can be the LLC owner if they're a NM resident, or a commercial registered agent service. For anonymous structures, a commercial RA is essential.
- 3File Articles of Organization
File online through the NM Enterprise portal for $50. Standard processing is 1–3 business days. The Articles include LLC name, registered agent, principal office, and (optionally) management structure. New Mexico is unique in not requiring member or manager names on the Articles.
- 4Draft an Operating Agreement
Not required by NM law but strongly recommended. The Operating Agreement is private (not filed with the state), so it can list members and managers without public disclosure. Banks routinely ask for it.
- 5Apply for an EIN with the IRS
Free at irs.gov, takes 10 minutes online. Required for opening a business bank account, registering with the New Mexico Taxation and Revenue Department, and filing federal taxes.
- 6Register for the Gross Receipts Tax (GRT)
Register through New Mexico's Taxpayer Access Point (TAP) for the GRT — required for virtually every NM business. The GRT is a tax on the privilege of doing business in NM, applied to gross receipts at 4.875% statewide plus local add-ons.
- 7File FinCEN Beneficial Ownership Information (BOI)
As of 2024, all U.S. LLCs must file beneficial ownership information with FinCEN. Even though New Mexico keeps member info off the public state record, FinCEN requires you to disclose beneficial owners to the federal government. True anonymity is no longer possible.
File directly with New Mexico Secretary of State →
New Mexico LLC taxes & compliance
No annual report at all is the standout feature. Once formed, ongoing maintenance is minimal — you just owe income tax on profits and the state Gross Receipts Tax on NM-sourced sales.
Ongoing compliance checklist
- No annual report required at the state level
- No franchise tax
- Gross Receipts Tax (GRT) filings — monthly, quarterly, or semi-annual
- Withholding tax filings if you have NM employees
- Federal income tax (Form 1065 multi-member, Schedule C SMLLC)
- FinCEN BOI updates if beneficial ownership changes
Registered agent rules
Required — NM street address.
Hidden costs new New Mexico LLC owners forget
- Gross Receipts Tax (GRT): 4.875% statewide + local add-ons up to 9.5%
- GRT applies to most services and B2B (broader than typical sales tax)
- Top individual income tax of 5.9%
- Foreign LLC qualification: $100
- Some industries require state-specific licensing
- NM has FinCEN BOI reporting like all states (anonymity is no longer absolute)
Should you use a formation service in New Mexico?
You can absolutely file directly with the New Mexico Secretary of State for the $50 state fee. The reasons most New Mexico owners use a service anyway are (1) registered-agent privacy — keeping their home address off public filings — and (2) calendar reminders for ongoing compliance.
Have Northwest form your New Mexico LLC for $39 + state fee
Free registered agent for the first year. Real human support. Privacy-by-default — your home address stays off public filings.
New Mexico LLC: frequently asked questions
How much does it cost to start an LLC in New Mexico?
New Mexico SOS charges $50 to file Articles of Organization. There's no annual report fee. Realistic year-one cost: $50. Ongoing yearly cost: $0 in state filing fees — making New Mexico one of the cheapest states to maintain an LLC.
How long does it take to form an LLC in New Mexico?
Online filings through NM Enterprise approve in 1–3 business days. Mail filings take 7–10 business days. New Mexico does not offer a separate paid expedited tier.
Is a New Mexico LLC really anonymous?
Mostly, at the state level. New Mexico is unique in not requiring members or managers to be named on the Articles of Organization, and there's no annual report to update those details either. Combined with a commercial registered agent, the public NM record can be virtually anonymous. However, since 2024 all U.S. LLCs must file beneficial ownership information with FinCEN — true federal anonymity is no longer possible.
Does New Mexico have an LLC annual report?
No. New Mexico is one of the few U.S. states with no LLC annual report requirement. Once your LLC is formed, you have no recurring Secretary of State filing obligation. You still must maintain your registered agent and file applicable tax returns (especially the GRT).
What is the New Mexico Gross Receipts Tax (GRT)?
The GRT is New Mexico's 4.875% statewide tax on the gross receipts of nearly every business activity in the state, plus local add-ons that can push combined rates above 9.5%. Unlike a typical sales tax that applies only to retail goods, GRT applies broadly to services, B2B transactions, and many other business activities. Most NM LLCs register for GRT regardless of whether they'd need a "sales tax" license elsewhere.
Does New Mexico have an LLC franchise tax?
No franchise tax. Pass-through LLCs pay no state-level entity tax. Owners pay personal income tax (graduated up to 5.9%) on their share of LLC profits. The GRT functions as the de facto state-level business tax.
Can a non-resident form an LLC in New Mexico?
Yes — and it's a popular choice for non-residents wanting privacy. New Mexico has no residency requirement for LLC members or managers. You only need a NM-based registered agent. However, if you don't actually do business in NM, you'll likely need to register as a foreign LLC in your home state.
Is New Mexico a good state to form an LLC?
For New Mexico residents and businesses tied to oil/gas, film production, or federal labs: yes — the no-annual-report and anonymity features are genuinely valuable. For solo founders prioritizing minimal ongoing paperwork and privacy, New Mexico competes head-to-head with Wyoming. For businesses operating outside NM, the GRT doesn't apply, so the cost-benefit favors NM for pure holding-company structures.