Do you have the perfect name idea for a new business entity in the state of New Mexico, but you’re not quite ready to form your company?
New Mexico allows you to reserve a business name until you’re prepared for the business formation process, but how does the reservation process work and how long will the state reserve the name for you? In this guide, we’ll run down all the important details of reserving a business name in New Mexico.
Rocket Tip: If you’d rather officially incorporate in New Mexico rather than file the extra paperwork to register a business name, there are many good incorporation services that can do it for you.
How to Reserve a Business Name in New Mexico
The first step is to determine if your desired business name is even available in New Mexico to begin with. If you’re unsure whether another business has already claimed your desired business name, you can easily check by using the Secretary of State’s business search tool. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
The specific form you need to file to reserve a business name in New Mexico will depend on your business type. If you are reserving a name for an LLC, you must use the Application for Reservation of a Limited Liability Company Name. Alternatively, corporations must file the Application for Reservation of a Corporate Name. Both forms must be filed with the New Mexico Secretary of State’s office. They will require the following information: New Mexico Secretary of State 325 Don Gaspar, Suite 301
Santa Fe, NM 87501
LLCs will need to pay a $20 filing fee, while corporations must pay $25. In either case, checks should be payable to the “New Mexico Secretary of State.” Finally, you can mail or drop off the form and check at this address:
New Mexico Secretary of State 325 Don Gaspar, Suite 301 Santa Fe, NM 87501
How Long Is My Business Name Reserved For?
As soon as your application is processed, your proposed name will be reserved for a period of 120 days. You can renew the reservation for an additional 120 days if you need more time to register your business.
Just because you aren’t ready to form your New Mexico business entity doesn’t mean you can’t lock down your desired business name.
The process to reserve a business in New Mexico is similar for LLCs and corporations. You simply need to file a different form with the Secretary of State, and corporations must pay a slightly higher filing fee. In either case, the process is relatively simple and inexpensive.