A New Mexico certificate of good standing (NM) is a legal document that verifies that your limited liability company (LLC) or corporation was correctly formed and is in good standing with the state.
This Certificate of Good Standing New Mexico guide will explain how to get a certificate of good standing in New Mexico and the requirements to get a good standing certificate.
What is a Certificate of Good Standing?
The certificate- of good standing, aka “certificate of existence,” confirms that a company is up-to-date with its filings and has no legal issues preventing it from conducting business.
This state document verifies that you have legally formed your LLC or corporation and that your company is properly maintained.
Requirements for Getting a New Mexico Certificate of Good Standing
In New Mexico, the certificate of good standing is known as a certificate of compliance issued by the New Mexico Secretary of State. To qualify for a New Mexico certificate of compliance, make sure your corporation or LLC is up-to-date with the following state compliance requirements.
Obtain Business Licenses & Permits
Follow federal, state, and local licensing guidelines to operate your business in New Mexico in a state-compliant manner. Some examples include health permits, building permits, medical and other professional licenses, etc.
To find out more about state licensing requirements, visit the New Mexico Regulation & Licensing Department website.
Pay State Taxes
Different businesses are subjected to different taxes such as New Mexico Unemployment Insurance (UI) tax, withholding tax, sales tax, gross receipts tax, etc. Depending on your business activity, you must register for various forms of New Mexico state tax.
Timely Submit Annual Reports
Most corporations and LLCs must file an annual report that summarizes their business’s finances over the past year.
The New Mexico Secretary of State requires corporations to submit an annual report and the filing fee is $25. The New Mexico LLCs do not have to submit LLC annual reports.
How Do I Get a Certificate of Good Standing in New Mexico?
Once your business is up-to-date with all filings and compliance requirements, you can order your certificate of Good Standing from the state authority. You can access and print your certificate online or request one using this easy form for your LLC, corporations, or partnerships in New Mexico. So, you can:
- Get a Certificate of Good Standing for LLC
- Get a Certificate of Good Standing for Corporation
- Get a Certificate of Good Standing for Partnership
The New Mexico certificate of compliance is requested from the New Mexico Secretary of State. To order your certificate of good standing online from the New Mexico Secretary of State, click the following link.
The filing Cost for the New Mexico Certificate of Good Standing is $25.
Why Do I Need a Certificate of Good Standing in New Mexico?
While you don’t necessarily need a certificate of compliance to run your LLC or corporation in New Mexico, there are several instances where you may need to get one. These include:
- Opening a business bank account
- Applying for a business loan or line of credit from a bank
- Purchasing business insurance
- Trying to lease commercial space
- Soliciting funds from potential investors
- You want to register your LLC or other business in another state as a foreign or out-of-state LLC
- You want to Transfer or domesticate your business to another state
- You’re selling your business, and the buyer wants proof that the company is in good legal standing
- You are contracting with another company
- You need to show compliance with government regulations in any other situation
FAQs on New Mexico Certificate of Good Standing
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