If you're looking to start a new business in New Mexico, one of the first steps is to form a corporation. The process starts with filing Articles of Incorporation with the New Mexico Secretary of State. In this guide, we'll walk you through everything you need to know to successfully file your Articles of Incorporation in New Mexico.
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What are Articles of Incorporation?
Articles of Incorporation are legal documents that officially establish the existence of your corporation with the state of New Mexico. They provide basic information about your business such as:
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- The name of your corporation
- The purpose of your corporation
- The types of shares your company will issue
- Contact information for your corporation's registered agent
- The names and addresses of the incorporator(s)
Once your Articles of Incorporation are approved, your corporation officially exists as a legally recognized entity in the state of New Mexico.
Choosing a Name for your Corporation
Before you can file your Articles of Incorporation in New Mexico, you need to choose a unique name for your corporation. Your corporation's name must be distinctive and not similar to any other corporation registered in New Mexico. You can search for available names on the New Mexico Secretary of State's website.
Once you've chosen a name for your corporation, you need to include it on your Articles of Incorporation exactly as you've chosen it. Make sure to double-check spelling and punctuation so that your corporation's name is accurately represented when it's approved.
Required Information for Articles of Incorporation
When you prepare your Articles of Incorporation, there are a few basic pieces of information that you'll need to include:
1. Name of your Corporation
As discussed earlier, you'll need to choose a unique name for your corporation. This name will be included in your Articles of Incorporation. Make sure to include proper spelling and punctuation so that your corporation's name is accurately represented.
2. Registered Agent Information
Your corporation must have an agent in New Mexico who is authorized to receive legal documents on behalf of your corporation. This agent is known as a registered agent.
In your Articles of Incorporation, you'll need to include the name, physical address, and mailing address of your registered agent in New Mexico. The registered agent must have a physical address in New Mexico -- a P.O. Box is not acceptable.
3. Types of Stock Your Corporation Will Issue
Your corporation will need to choose the types of shares it will issue. These different types of shares represent different levels of ownership and voting rights. In your Articles of Incorporation, you'll need to list the types of shares that your corporation will issue, such as common stock or preferred stock.
4. Information about Your Corporation's Purpose
In your Articles of Incorporation, you'll need to provide a brief statement about the purpose of your corporation. This statement should describe what your corporation does, what it sells, and who it serves.
5. Names and Addresses of the Incorporator(s)
The incorporator is the person or entity who files the Articles of Incorporation with the state of New Mexico. In your Articles of Incorporation, you'll need to list the names and addresses of all incorporators who are signing this document. You can have one or many incorporators.
Steps to File New Mexico Articles of Incorporation
Now that you have all the information you need to include in your Articles of Incorporation, it's time to file your documents with the New Mexico Secretary of State. Here are the steps you'll need to follow:
1. Obtain a Certificate of Good Standing
Before you file your Articles of Incorporation, you should obtain a Certificate of Good Standing from the New Mexico Secretary of State. This certificate confirms that your business is legally authorized to operate in New Mexico, and that you are in good standing with the Secretary of State.
2. Prepare your Articles of Incorporation
Using the required information listed above, prepare your Articles of Incorporation. You can have an attorney or online tool assist you with preparing this document.
3. Sign your Articles of Incorporation
Once you've prepared your Articles of Incorporation, have all incorporators sign the document.
4. File your Articles of Incorporation
Submit your Articles of Incorporation to the New Mexico Secretary of State. This can be done online, via mail, or in person. Online filing is the preferred method due to the COVID-19 pandemic. The filing fees range from $50-$100.
5. Wait for Approval of Your Articles of Incorporation
Once your Articles of Incorporation are submitted and correctly filled out, wait anywhere between 1 and 4 weeks for the Secretary of State to approve it. Be sure to check the status of your application online, or call the New Mexico Secretary of State customer service if the processing of your papers has exceeded that amount of time.
Final Thoughts
Filing your New Mexico Articles of Incorporation is a crucial step when establishing a new business in New Mexico. This document creates the legal existence of your corporation with the state of New Mexico and starts you on the path toward a successful business. By following the guide above, we hope you've gained insight into what's required to properly file your Articles of Incorporation in New Mexico, ultimately leading you to running a properly established New Mexico identity.
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