Annual Reports in New Mexico: What You Need to Know

If you own a business in New Mexico, you might be wondering if you have to file an annual report or not. In New Mexico, all companies are required to submit an annual report to the Secretary of State’s office. If you don’t, you risk fines and potentially the ruin of your company’s reputation.

In New Mexico, submitting an annual report is a rather easy process. The report may be submitted by mail or online through the Secretary of State’s website. On the fifteenth day of the fourth month after the end of your fiscal year, the report is due. Your annual report would be due on April 15th, for instance, if your fiscal year ended on December 31.

A certificate of good standing is a record that attests to the fact that your company has fulfilled all of its state filing and tax responsibilities on time. Lenders and other third parties frequently demand it when your organization is looking for financing or signing contracts with them. A certificate of status is another name for a certificate of good standing in New Mexico.

You must ask for a certificate of good standing from the Secretary of State’s office in order to do business in New Mexico. This can be done by mail or online. The processing of your request normally takes 3-5 business days and there is a cost associated with it.

How long is a New Mexico Certificate of Good Standing valid? A certificate of good standing in New Mexico is good for 60 days after the date of issuance. You must ask for a new certificate if you require one with a longer expiration date.

Although it is not needed by law in New Mexico, banks, lenders, and other third parties frequently demand one. To make sure that your company is in good standing and to prevent any delays or issues in the process, it is a good idea to obtain a certificate of status if you intend to conduct business with these parties.

Finally, an annual report must be filed by every company in New Mexico and is due on the 15th day of the fourth month after the end of the fiscal year. A certificate of good standing, sometimes referred to as a certificate of status, is an important document that attests that your company has paid all of its taxes and state filings on time. Although it is not needed by law in New Mexico, third parties frequently demand it when signing contracts or applying for financing.