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Looking to set up your business in the Land of Enchantment? The first essential step is to register a business name in New Mexico. Whether you’re forming an LLC or corporation or need a DBA, we’ll guide you through the registration process with ease. New Mexico’s diverse landscape of opportunities awaits your venture.
For added convenience and expert support, consider partnering with ZenBusiness, a trusted provider of business registration services. Together, we’ll navigate the process and get your business ready to thrive in the enchanting state of New Mexico!
4 Steps to Register Your Business Name in New Mexico
Registering your business name in New Mexico is a crucial step toward establishing your entrepreneurial presence in the state. To help you through this process, here are four simple steps to get your business name officially registered in New Mexico:
Step 1: Choose Your Business Structure in New Mexico
Selecting the right business structure is a crucial first step when registering your business name in New Mexico. The choice will depend on the nature of your business and your expansion objectives. In New Mexico, you have various options available for both incorporated and unincorporated businesses. Let’s explore each of these options in detail to help you make an informed decision.
A sole proprietorship is the simplest business structure in New Mexico, where the owner and the business are considered a single entity in the eyes of the law. As a result, the owner assumes personal liability for the business’s debts and obligations. Setting up a sole proprietorship is a straightforward process with minimal legal and administrative requirements. Although registering your sole proprietorship with the state isn’t mandatory in New Mexico, you may need to obtain local permits or licenses.
A general partnership involves a business owned by two or more individuals who share both profits and losses. Each partner bears personal liability for the business’s debts and legal obligations. In New Mexico, you’re not required to register a general partnership with the state. However, you may need to file a “New Mexico Assumed Name Certificate” (DBA) in the county where your business operates.
Limited Partnership (LP)
A limited partnership in New Mexico comprises one or more general partners responsible for managing the business and having unlimited personal liability, along with one or more limited partners who contribute capital but have limited liability. To establish an LP in New Mexico, you must file a “Certificate of Limited Partnership” with the New Mexico Secretary of State.
Limited Liability Company (LLC)
An LLC offers a flexible business structure that combines liability protection similar to a corporation with the tax benefits and simplicity of a partnership. To form an LLC in New Mexico, you need to file Articles of Organization with the New Mexico Secretary of State and create an Operating Agreement to outline the company’s management and ownership structure.
A corporation is a separate legal entity from its shareholders, providing limited liability protection. In New Mexico, two types of corporations exist: C-corporations and S-corporations.
To establish a corporation in New Mexico, you must file Articles of Incorporation with the New Mexico Secretary of State, specifying whether it’s a for-profit or nonprofit corporation. Corporations involve additional formalities, including creating bylaws, issuing stock, and conducting regular board and shareholder meetings.
Choose the business structure in New Mexico that best suits your needs, considering factors like liability protection, taxation, and management requirements. If needed, consult with legal or business professionals for guidance to make the right decision for your venture.
Step 2: Select a Unique Business Name in New Mexico
Naming your business in New Mexico is a critical step that requires careful consideration and adherence to specific regulations to ensure professionalism, uniqueness, and legal compliance. Fortunately, you have several options for naming your business, each with its advantages and requirements. Let’s explore these naming options in detail to help you make an informed decision for your business.
Legal Entity Name
In New Mexico, businesses must register a unique legal entity name, which serves as the official identifier for the company as recognized by the state. This name is essential for distinguishing your business and preventing others from using the same name. Ensure that your chosen name complies with the guidelines regarding company suffixes (e.g., LLC, LP, or Corp) and accurately reflects the type of business you’re registering. To verify name availability, consult the database of the New Mexico Secretary of State.
Securing a trademark provides essential legal protection for your business name or logo at the national level. To safeguard your name or logo, conduct a comprehensive trademark search within the USPTO database to ensure that it’s not already registered. A successfully registered trademark grants you exclusive rights, preventing others from using an identical or similar name or logo for similar goods or services. However, obtaining a trademark doesn’t automatically grant unrestricted usage of the name or logo in all circumstances.
Doing Business As (DBA)
In New Mexico, you have the option of operating your business under an “official” name and using a different name, known as a Doing Business As (DBA) name. To establish a DBA, you must file a Certificate of Registration of Trade Name with the county clerk’s office in the county where your business is located. While DBAs are subject to federal trademark laws, there is no requirement for a DBA to be unique at the state level.
While considering these naming options, remember to research the specific requirements and guidelines in New Mexico. This will help you effectively register your business name, ensuring legal compliance and safeguarding your brand identity. By carefully evaluating each option, you can make the right choice that best suits your business needs and objectives.
Step 3: Check Business Name Availability in New Mexico
Before registering your business, it’s crucial to ensure that the desired name is available and not already in use. To conduct a comprehensive business name availability search in New Mexico, follow these three steps:
Begin by checking for federal trademarks to ensure your preferred business name isn’t already trademarked. Federal trademarks take precedence over state-level registrations. You can conduct this search on the U.S. Patent and Trademark Office (USPTO) website using the TESS Search tool. If your chosen name is already trademarked, you’ll need to consider an alternative name.
New Mexico Business Name Search
After confirming that your name isn’t trademarked, verify its availability for use within New Mexico. Utilize the New Mexico Secretary of State – Corporations and Business Search SOS Portal tool to search for registered business names in the state. Ensure that your exact business name is available and that there are no significantly similar names in use by other businesses.
Website Domain Search
Once you’ve established that your business name isn’t trademarked and is available in New Mexico, perform a website domain search to check the availability of the .com version of your chosen name. Registering the .com domain, even if you don’t plan to create a website immediately, can be beneficial for future branding and online presence.
Registering the .com version of your business name through ZenBusiness ensures exclusive ownership, safeguarding your brand from unauthorized use, and is a cost-effective protection method.
By conducting these three types of searches, you can confidently proceed with registering your business name in New Mexico.
Step 4: Form Your Business With the State of New Mexico
Once you’ve chosen the structure and name for your business, the next step is to officially register it with the State of New Mexico.
For a New Mexico LLC, you’ll need to file the Articles of Organization with the New Mexico Secretary of State. This can be done online for convenience. If you’re forming a New Mexico corporation, you’ll need to file the Articles of Incorporation with the New Mexico Secretary of State.
You May Also Want to Know
Protect Your Business Name With a Trademark
After confirming the availability of your business name and securing it, you have the option to apply for a trademark. The cost for this typically ranges from $225 to $400, with additional attorney fees and a renewal fee every 10 years.
While this expense might be substantial for a start-up or small business, obtaining a trademark grants your company nationwide protection under federal law. This legal safeguard ensures that if others attempt to operate with a similar name, you’ll have solid legal grounds to protect your brand. However, for most local businesses, pursuing a trademark may not be necessary unless there are plans to expand nationally.
How to File a New Mexico Fictitious Name – DBA?
To file a New Mexico Fictitious Name (DBA – Doing Business As), follow these simple steps:
- Choose a Fictitious Name: Select the name you want to use for your business that’s different from your legal entity’s name
- Verify Name Availability: Ensure the chosen name isn’t already in use by checking the New Mexico Secretary of State’s business name database
- Download the Form: Obtain the “Application for Registration of a Trade Name” form from the New Mexico Secretary of State’s website or visit their office in person
- Complete the Form: Fill out the required information on the form, including your legal entity’s name, the chosen fictitious name, and your business address
- Notarize the Form: Have the form notarized, as this may be necessary for the application
- Submit the Form: Mail or deliver the completed form to the New Mexico Secretary of State’s office along with the appropriate filing fee
- Await Approval: Once the application is processed and approved, your business can legally operate under the chosen fictitious name in New Mexico
Please note that filing requirements and fees may be subject to change, so it’s essential to check the official New Mexico Secretary of State website for the most up-to-date information.
How to Change the Name of a New Mexico Business?
If, at any point, you wish to modify the official name of your LLC or corporation in New Mexico, you can do so by submitting an amendment for the existing business name. To initiate this process, you can access the relevant forms for both options:
- LLC Articles of Amendment
- Domestic Profit Corporation Articles of Amendment
To complete the amendment, simply send the appropriate form by mail, and remember that the filing fee is $50 for LLCs and $100 for corporations.
Business Name Registration Laws in New Mexico
The laws and regulations related to business name registration inNew Mexico are as follows:
- Business Structure: Before registering a business name, you must first choose a legal structure for your business, such as a sole proprietorship, partnership, LLC, or corporation. The structure you choose will determine the registration requirements and legal liabilities.
- Name Availability: Before proceeding with the registration process, you should conduct a name search to ensure that your desired business name is available and not already in use by another registered business in New Mexico. You can perform a name search on the New Mexico Secretary of State’s website.
- Fictitious Business Name (DBA): If you plan to operate your business under a name different from your legal business name, you may need to file a “Doing Business As” (DBA) or “Fictitious Business Name” registration with the county clerk’s office in the county where your business will be located.
- Trade Name Registration: In New Mexico, if you plan to use a name other than your own personal name for your business, you may need to register your trade name with the New Mexico Secretary of State. This applies to businesses operating as sole proprietorships, partnerships, or other entities.
- Trademark Consideration: Registering a business name with the New Mexico Secretary of State does not provide trademark protection. If you want to protect your business name at the national level, you may want to consider registering it as a trademark with the United States Patent and Trademark Office (USPTO).
- Professional Licensing: Certain professional businesses may have additional requirements or restrictions on the use of business names. If your business falls into a regulated profession, you might need to comply with specific rules regarding the use of professional titles or names.
To ensure compliance with the most current laws and regulations regarding business name registration in New Mexico, it’s always advisable to consult with an attorney or the New Mexico Secretary of State’s office for the latest information.
Bottom Line on How to Register a Business Name in New Mexico
In conclusion, registering a business name in New Mexico opens the door to a promising entrepreneurial journey in the Land of Enchantment. By thoughtfully selecting a business structure and a unique name, completing the necessary registrations with the New Mexico Secretary of State’s office, and considering options for trademark protection or DBA registration, you lay a robust groundwork for success.
Relying on LLC services like ZenBusiness can offer expert assistance and support, simplifying the registration process and making your path to success in New Mexico’s vibrant business scene even more enjoyable. With determination and drive, your registered business name is set to make waves in the Land of Enchantment’s flourishing economy.
How to register a business name in every US state: