How to Dissolve a LLC in New Mexico (How to legally Close a New Mexico Business)
NEW MEXICO BUSINESS SERVICES CORPORATION Incorporate in New Mexico New Mexico Professional Corporation New Mexico Nonprofit Corporation NM Corporation Foreign Qualification New Mexico Corporation Annual Report New Mexico Corporation Dissolution LLC Form a LLC in New Mexico NM LLC Foreign Qualification New Mexico LLC Annual Report New Mexico LLC Dissolution OTHER NEW MEXICO BUSINESS SERVICES New Mexico Good Standing Certificate New Mexico Apostille New Mexico DBA Name New Mexico Registered Agent NM Corporation Kit and Seal New Mexico Certified Copies NM Business Reinstatement NM Company Name Reservation NM Tax Status Compliance Certificate NM Attorney Good Standing Certificate New Mexico Property Deed NM Employer Requirements QUICK ENTRY FORMS New Mexico Incorporation New Mexico LLC NM Professional Corporation NM Nonprofit Corporation NM Foreign Corporation NM Foreign LLC NM LLC Dissolution NM Corporation Dissolution CORPORATE GLOSSARY   Administrative Dissolution Agent for Service of Process Apostille Apportionment Articles of Incorporation Articles of Organization Assumed Name At Will LLC Authorized Shares B Corporation Benefit Corporation Board of Directors Business Dissolution Business Entity Bylaws Certificate of Existence Certificate of Status Certified Copy Close Corporation Common Stock Conversion Corporate Bylaws Corporate Name Reservation Corporate Stock DBA Disregarded Entity Dividends ESOP Excise Tax Federal Tax ID Ficticious Name Foreign Qualification Franchise Tax General Partnership Good Standing Certificate Incorporator Involuntary Dissolution IRS Form 966 ITIN Limited Liability Company Limited Partnership Liquidation LLC LP Majority Shareholder Meetings Merger Nexus Non-Stock Corporation Nonprofit Corporation Obligated Member LLC Organizer Paid-in Capital Paid-in Surplus Par Value Personal Service Corporation Preferred Stock Privilege Tax Professional Corporation Professional Service Proxy Registered Agent Registered Office Reporting Requirements Revocation S Corporation Series LLC Service Mark Shareholder Sole Proprietor Stated Capital Statutory Agent Stock Certificate Term LLC Trade Name Trademark Trust Trustee Winding Up	What is New Mexico LLC Dissolution? A New Mexico LLC is created when the NM Secretary of State approves the Articles of Organization. A record of the New Mexico LLC is added to the list of LLCs which have officially registered with the New Mexico Secretary of State.  Once a LLC is registered with the New Mexico Secretary of State, that LLC immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   more... less... A New Mexico LLC is created when the NM Secretary of State approves the Articles of Organization. A record of the New Mexico LLC is added to the list of LLCs which have officially registered with the New Mexico Secretary of State.  Once a LLC is registered with the New Mexico Secretary of State, that LLC immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   If you've registered a New Mexico LLC with the New Mexico Secretary of State and want to cease business activities you have to let the NM Secretary of State know that you intend to close your company.  Only after the NM Secretary of State has made sure that all of the obligations of the New Mexico LLC have been fulfilled will the Secretary of State approve of the closure of the company. When the New Mexico Secretary of State approves the closing of a NM LLC, that New Mexico LLC is said to be Dissolved.   The process of Dissolving a New Mexico LLC is called New Mexico LLC Dissolution. Why do I need to Dissolve a New Mexico LLC? As soon as a New Mexico LLC is registered with the NM Secretary of State, that LLC is responsible for recurring obligations of the New Mexico Secretary of State and the New Mexico Department of Taxation and Revenue.  If the New Mexico LLC does not file reports or pay taxes then that NM Limited Liability Company could be responsible for penalties which go up as time goes by. Unless you Dissolve your New Mexico LLC with the New Mexico Secretary of State that NM Limited Liability Company will be responsible for all recurring fees and penalties. What do I have to do to Dissolve a New Mexico LLC? New Mexico LLC Dissolution is one part of a larger process commonly called the "Winding Up" process.   more... less... New Mexico LLC Dissolution is one part of a larger process commonly called the "Winding Up" process. There are things you need to do before you can request approval of LLC Dissolution from the New Mexico Secretary of State; and things that you have to do after the NM Secretary of State has approved Dissolution of the New Mexico LLC.  What you have to do both before and after the New Mexico LLC is Dissolved largely depends on if the New Mexico LLC has commenced business and how many assets, debts and liabilities, if any, that the NM Limited Liabilty Company has.  If the New Mexico LLC has not commenced business then the NM Limited Liability Company Dissolution process is easier. What do I have to do before I Dissolve a New Mexico LLC? Things you need to do before you Dissolve a New Mexico LLC.   1. Hold a Members meeting and record a resolution to Dissolve the New Mexico LLC   2. Clear up any business debt   3. Pay all taxes and administrative fees owed by the New Mexico LLC more... less... 1. Hold a Members meeting and record a resolution to Dissolve the New Mexico LLC If the New Mexico LLC has any Members then a meeting should be held and a vote to Dissolve the New Mexico Limited Liability Company taken. Minutes of the meeting should be recorded and retained in the business records. If the New Mexico LLC does not have any Members then the Organizer(s) have to apply for Dissolution of the New Mexico LLC. We can transcribe and compile minutes or approvals into a form that is legally recognized by the New Mexico Secretary of State. 2. Clear up any business debts All creditors of a New Mexico LLC should be given notice of the pending LLC Dissolution. Each creditor should be given a mailing address to which they may submit claims as well as a deadline by which claims may be submitted. 3. Pay all taxes and administrative fees owed by the New Mexico LLC The New Mexico Secretary of State will definitely not approve the Dissolution of a New Mexico LLC until all outstanding taxes and applicable registration and administrative fees have been paid. less... What do I have to do after I Dissolve a New Mexico LLC? Things you have to do after you Incorporate in New Mexico.   1. Distribute all remaining assets of the New Mexico LLC   2. Close all business bank accounts of the New Mexico LLC   3. Cancel all local business licenses and permits   4. File Form 966 with the IRS   5. Cancel the IRS account associated with the NM LLC's Federal Tax ID (EIN) more... less... 1. Distribute all remaining assets of the New Mexico LLC If the New Mexico LLC has any remaining assets, these may be divided according to the Members' ownership interests in the NM Limited Liability Company.  All distributions to LLC Members must be reported to the IRS. 2. Close all business bank accounts of the New Mexico LLC If there are any business accounts that have been opened for the New Mexico LLC then those accounts must be closed. If Company Business accounts are left open there may be liability and obligations of the Dissolved New Mexico LLC which could lead to legal problems down the line. 3. Cancel all local business licenses and permits of the NM LLC If the New Mexico LLC has obtained any state, regional, county or city business licenses or permits, each of those must be cancelled to avoid any reporting or fiscal obligations of the New Mexico LLC. This includes business registration licenses as well as reseller permits. 4. File IRS Form 966 Most Dissolved New Mexico LLCs must file IRS Form 966 with the US Internal Revenue Service. If a New Mexico LLC is required to file IRS Form 966, the filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the New Mexico LLC has been legally Dissolved so that it may take the appropriate actions. We can prepare IRS Form 966 for you to file. 5. Cancel the IRS account associated with the NM LLC's Federal Tax ID (EIN) A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the New Mexico LLC.  Once the IRS links an EIN to a New Mexico LLC, that EIN stays with the New Mexico LLC even after the Company has been Dissolved by the New Mexico Secretary of State. When the IRS processes the final tax return for the New Mexico LLC, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account, or with the IRS, in the future. If you should decide to revivie the New Mexico LLC down the line then the IRS will reactivate the old EIN for your new Business. Before a New Mexico LLC can close an EIN account, it must be in Good Standing with the IRS.  The New Mexico LLC must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.  The New Mexico LLC cannot close its EIN account until the IRS has received payment for any tax amounts the Company may owe. We can prepare the formal documents which you can sign and submit to the IRS in order to close the account associated with your EIN. How long does it take to Dissolve a New Mexico LLC? The time it takes to Dissolve a New Mexico LLC varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the New Mexico Secretary of State usually takes around 10-15 business days to process the Articles of Dissolution.    more... less... The time it takes to Dissolve a New Mexico LLC varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the New Mexico Secretary of State usually takes around 10-15 business days to process the Articles of Dissolution. Processing times for New Mexico LLC Dissolution filings vary depending on the work load of the Secretary of State's staff.  We've found that normal processing of New Mexico Dissolution filings takes the state around 10-15 business days. PLEASE NOTE: WE CANNOT GUARANTEE NEW MEXICO SECRETARY OF STATE PROCESSING TIMES. We are dependent on, and have no control over, the staff and systems of the New Mexico Secretary of State . In our experience 10-15 business days is the time it usually takes the New Mexico Secretary of State to process a New Mexico Dissolution filing. We get your New Mexico LLC Dissolution filing to the NM Secretary of State ASAP. Once it is at the state we have no control over the New Mexico Dissolution approval process. How much does it cost to Dissolve a LLC in New Mexico? The total cost to Dissolve a New Mexico LLC varies depending on exactly what is required for each specific NM Dissolution. We charge $224.00 plus any state fees for our New Mexico LLC Dissolution services. This includes: Same day processing Transcribe minutes of Members meeting which proposes Dissolution Prepare and file Articles of Dissolution with the New Mexico Secretary of State Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel Federal EIN account Certified copy of Dissolution filing from NM Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support We also offer these New Mexico LLC Dissolution services separately as explained on the right side of this web page. What do I have to do if I want to Dissolve a Foreign LLC that is tied to a NM Domestic LLC? If there are Foreign LLCs in states other than New Mexico that are tied to the Domestic New Mexico LLC then each of those Foreign LLCs must be Dissolved before the New Mexico LLC is legally Dissolved. How long before someone can use my LLC name in New Mexico after I Dissolve? A New Mexico LLC company name becomes available for anyone to use when the New Mexico Limited Liability Company is Dissolved by the NM Secretary of State. There are no LLC company name protections in New Mexico once a New Mexico LLC has been Dissolved by the New Mexico Secretary of State. Do I have to publish a Notice of Dissolution of the New Mexico LLC? There are no state of New Mexico requirements for the publication of a Notice of Dissolution of a New Mexico LLC. While the New Mexico Secretary of State does not legally require the publication of a Notice of Dissolution of a New Mexico LLC, publication is a good way to notify anyone who might have a claim against the New Mexico LLC.  Evidence of publication might prove useful down the line if someone makes a claim against the NM Limited Liability Company after the New Mexico LLC has been dissolved.	NEW MEXICO LLC DISSOLUTION SERVICES For $224.00 our New Mexico LLC Dissolution Services include: Same day processing explain We will start processing your New Mexico LLC Dissoltion filing on the same day that you submit your order.  We get your NM LLC Dissolution filing to the New Mexico Secretary of State as fast as possible.  Once they get the application, the NM Secretary of State usually takes 10-15 business days to process a New Mexico LLC Dissolution filing. Transcribe minutes of Members meeting which proposes Dissolution Prepare and file Articles of Dissolution with the New Mexico Secretary of State Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel the Federal EIN account linked to the New Mexico LLC Certified copy of LLC Dissolution filing from NM Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support A LA CARTE NEW MEXICO DISSOLUTION SERVICES If you don't need our complete New Mexico LLC Dissolution package we offer our Dissolution services separately check the box next to any option, price will be calculated automatically Transcribe Member meeting minutes - $75.00   explain After the decision is made to Dissolve a New Mexico LLC, a meeting of all Members of the NM LLC must be held to approve the LLC Dissolution. A majority of LLC Members must approve the New Mexico LLC Dissolution plan. The approval actions should be documented and kept in the business records. We will transcribe the minutes of the Member meeting into a format that is legally acceptable in the state of New Mexico. We will also compile a formal resolution to Dissolve the New Mexico LLC for your records. Prepare and file Articles of Dissolution - $75.00   explain As soon as the preliminary New Mexico LLC Dissolution actions are completed we will prepare and file the Articles of Dissolution with the New Mexico Secretary of State in the quickest way possible Prepare IRS Form 966 - $65.00   explain Most, but not all, Dissolved New Mexico LLCs must file IRS Form 966 with the US Internal Revenue Service. If you are not sure about your specific IRS Form 966 filing requirements you should contact an accountant. If a New Mexico LLC is required to file IRS Form 966, the filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the New Mexico LLC has been legally Dissolved. We will prepare IRS Form 966 for you to file. Prepare EIN cancellation documents - $65.00   explain A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the New Mexico LLC.  Once an EIN is linked to a New Mexico LLC by the IRS, that EIN stays with the New Mexico LLC even after the Company has been Dissolved by the New Mexico Secretary of State. When the IRS processes the final tax return for the New Mexico LLC, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed by the IRS.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account - or with the IRS - in the future. We will prepare formal documents to get your New Mexico LLC's EIN account closed as quickly as possible. Processing fees $224.00 New Mexico Dissolution fees $60.00 Optional services $0.00 Total cost $284.00 OUR ADVANTAGE We start processing your New Mexico LLC Dissolution order as soon as it arrives. We get your documents to the New Mexico Secretary of State in the quickest possible way.  We guarantee our work.  If you're not satisfied with our New Mexico Dissolution services we will refund 100% of your processing fees. We've been helping LLCs legally Dissolve in New Mexico for over ten years.  Our A+ BBB rating speaks for itself! INCORPORATE OR FORM A LLC IN ANY STATE CORPORATION LLC Alabama Alabama Alaska Alaska Arizona Arizona Arkansas Arkansas California California Colorado Colorado Connecticut Connecticut Delaware Delaware District of Columbia District of Columbia Florida Florida Georgia Georgia Hawaii Hawaii Idaho Idaho Illinois Illinois Indiana Indiana Iowa Iowa Kansas Kansas Kentucky Kentucky Louisiana Louisiana Maine Maine Maryland Maryland Massachusetts Massachusetts Michigan Michigan Minnesota Minnesota Mississippi Mississippi Missouri Missouri Montana Montana Nebraska Nebraska Nevada Nevada New Hampshire New Hampshire New Jersey New Jersey New Mexico New Mexico New York New York North Carolina North Carolina North Dakota North Dakota Ohio Ohio Oklahoma Oklahoma Oregon Oregon Pennsylvania Pennsylvania Rhode Island Rhode Island South Carolina South Carolina South Dakota South Dakota Tennessee Tennessee Texas Texas Utah Utah Vermont Vermont Virginia Virginia Washington Washington West Virginia West Virginia Wisconsin Wisconsin Wyoming Wyoming GET A GOOD STANDING CERTIFICATE IN ANY STATE Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
All Business Documents, Inc. is not a lawyer or an accountant and provides only document filing and retrieval services under your supervision. All content and design copyright © 2003- All Business Documents, Inc. All Rights Reserved. Privacy Policy Site Map Contact us