Registered Agent New Mexico
The official requirements for a registered agent in New Mexico can be confusing. To avoid spending hours of online research we gathered everything together for you in this easy to read guide. It is important to know exactly what is required from a registered agent so you can make the best decision on who to choose. You need a person or business entity that can help you keep your company complaint with all New Mexico rules and regulations. There are several highly rated companies such as Incfile who even offer your first year of registered agent services for free if you use them to set up your LLC in New Mexico.
So what is a Registered Agent Service?
A registered agent service is a company created to be a registered agent for multiple businesses across the country. This company is well diverse in all the rules and regulations of a registered agent and often times even helps with friendly reminders so you always stay on top of your requirements. The name and address of your New Mexico registered agent is found on the document that forms your business with the New Mexico Secretary of State. For more information on the Secretary of State visit https://www.sos.state.nm.us/contact-us/.
The benefits of this means you can keep your personal address confidential. This is great for entrepreneurs and small businesses who work from home. Your New Mexico registered agent usually will provide you with additional benefits such as reminders of important filing deadlines, and friendly customer support should you ever have any questions.
One of the most well known registered agent services available would be Incfile. There rates start at just $119 per year and they even offer some really nice promotions to assist with forming your New Mexico LLC as well. They come very highly rated across the web and they have an amazing support team.
If you want to save the money and be your own registered agent that works too. If you work from home or run your business out of a home office I would highly consider looking into a professional New Mexico registered agent service in New Mexico.
Designating A Registered Agent For A New Mexico LLC
Prior to filing formal paperwork with the Secretary of State to create a New Mexico LLC, you must chose a Registered Agent for your entity. This is a registered agent (company or individual) who will accept legal notices and other ail on behalf of the LLC. New Mexico also provides that Registered Agents can be a broader contact point for the purpose of receiving tax notices, business correspondence, payment invoices, and more.
A New Mexico Registered Agent is required to have a New Mexico street address, and it is important to note that Post Office Boxes are not permitted for this purpose. A New Mexico Registered Agent needs to be available for Service of Process during typical business hours of 9 a.m. through 5 p.m. Process service includes delivery of things such as legal summons and complaints or subpoena documents.
Choosing A New Mexico LLC’s Registered Agent
Any person or business entity in New Mexico can be a New Mexico registered agent. The only requirements are that they have a physical address in New Mexico and that they are aware that their personal information will be made public once the business is formed.
In terms of selecting a New Mexico Registered Agent for your New Mexico LLC, there are three ways to go. First, you can serve as your own Registered Agent. Or, you might select a relative for friend to serve as the role of the agent. Finally, you always have the option of hiring a New Mexico Commercial Registered Agent service.
Bear in mind that if you opt to name an individual such as a family member or friend to serve as your Registered Agent, that person is required to reside in New Mexico.
Factors Relevant To Your Decide Upon
If you will be present at a New Mexico street address, whether at home or at an office, and you will be available during typical business hours, you can indeed be your own Registered Agent.
If you lack a New Mexico street address for your registered agent, you could utilize that of a friend or relative, though that person will need to be available and accessible during typical business hours.
If you lack a business address in New Mexico, and there is no friend or relative who has one and would be available during business hours, you may wish to consider hiring a New Mexico Commercial Registered Agent. Going this route is a great way to obtain added privacy and reliability, things which tend to be priorities for many New Mexico business owners.
Using a Commercial Registered Agent
New Mexico Commercial Registered Agents are firms that offer services such as receipt of legal process on behalf of those with New Mexico LLCs. The cost of such services tends to run around $100 to $300 annually.
After such a firm is hired, they will be available to receive legal process on behalf of the New Mexico LLC with which they have contracted. All papers received in this way will then be sent by mail to the address of the New Mexico LLC owner’s choosing. Email and fax transmission is generally also available.
New Mexico LLC owners considering such an arrangement may wonder whether there are risks to engaging in this type of service. The answer is that there are some risk, but they are remote. However, if things do not go as planned, you do run the risk of losing the protections afforded to LLCs by the state of New Mexico.
For instance, if the Secretary of State in New Mexico is unable to successfully reach your Registered Agent, your LLC’s good standing could be jeopardized, and your New Mexico LLC could ultimately be dissolved.
Also, if your New Mexico Registered Agent is inaccessible to a process server attempting to present lawsuit documents, legal proceedings could commence without your knowledge or participation. The end result could be a judgment against your entity, which could be costly and problematic for your enterprise.
There are some common reasons why a process server could have difficulty making contact with your Registered Agent. This could be that the appointed individual is not present during normal business hours, they have left town a trip, or you made a change in the Registered Agent bur forgot to file change paperwork with the New Mexico Corporations Bureau.
As such, taking advantage of a New Mexico Commercial Registered Agent service provides the reliability and security you need, not to mention the flexibility to leave the state of New Mexico for business or pleasure without worrying that you might miss critical documents.
An added benefit of Commercial Registered Agents is that they provide reminders about all New Mexico annual reporting requirements and filing deadlines with which your LLC will need to comply.