How to Dissolve an LLC in New Mexico (for Free)
In this article, we'll show you step-by-step how to dissolve an LLC in New Mexico by giving you links to all of the forms, with advice on how to save money by doing it yourself!
It's a lot easier to file for an LLC dissolution in New Mexico than you might think, and if you have the time to spend learning how to do it, you can avoid using a third-party service.
By free, we mean filing the application forms yourself without an LLC dissolution company. State filing fees may still apply.
Our product recommendations are made independently, but we may earn affiliate commissions if you use a link on this page.
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How to Close an LLC in New Mexico
As technology improves and more systems become digital, the process of closing or dissolving your LLC in New Mexico has become easier than ever.
However - we are still talking about the government here, so it's not always as simple as it could be! There are a number of steps you need to take to make sure you close your LLC properly, and we'll walk you through them below.
Make you that you take the time to really read this article a couple of times to fully understand everything you need to do. Any mistakes can delay your filing and your company will still be active until you complete the process.
Dissolution Filing Fees
In order to close your New Mexico LLC, you will need to pay a filing fee of $25 to the New Mexico Secretary of State. This is a one-time fee paid directly to the government, and it's required to close your LLC.
File By Mail
You can file the dissolution documents for your New Mexico LLC by mail. This is the slowest option, but is the traditional method of filing.
To file by mail, it will take a total of 15 days to process your dissolution documents once they have been received by the Secretary of State.
You'll need to download and print the form "Articles of Dissolution" from the following link:
https://api.realfile.rtsclients.com/PublicFiles/ee3072ab0d43456cb15a51f7d82c77a2/b79ce812-2074-411d-83f4-66727d5800af/dllcdv.pdf
Once the form is completed, you can mail it to the following address:
New Mexico Public Regulation Commission Corporations Bureau P.O. Box 1269 Santa Fe, NM 87504-1269
Additional Filing Requirements
Filing require original signatures so there is no online option.
New Mexico Law Reference
To make sure you file the correct dissolution documents, you can refer to the official New Mexico statutes at the following link:
https://klvg4oyd4j.execute-api.us-west-2.amazonaws.com/prod/PublicFiles/ee3072ab0d43456cb15a51f7d82c77a2/1c940b98-cdb8-45ad-839f-7645c176a0c7/ch53Art19.pdf
Tax Clearance
A tax clearance certificate is a document issued by the New Mexico Department of Revenue that confirms you have paid all of your outstanding taxes.
You do not need to obtain a tax clearance certificate from the New Mexico Department of Revenue to close your LLC.
How Long Until the LLC Name is Available Again?
Once the New Mexico Secretary of State has approved your dissolution documents, your LLC name will be eventually be made available for someone else to use.
This varies by state, but in New Mexico your LLC name will be made available immediately.
Public Notice Requirement
A public notice is a document that is published in a newspaper to inform the public that your LLC is being dissolved.
In New Mexico, you do not need to publish a public notice in a newspaper to inform the public that your LLC is being dissolved.
Member Vote Requirement
A member vote is a document that is signed by the members of your LLC to confirm that they have voted to dissolve the company.
The requirement for New Mexico is that you need a majority vote to dissolve your LLC.
Outstanding Debt Obligations
Before you wind up your New Mexico LLC, you need to make sure that you have paid off all of your outstanding debts and obligations.
Limited liability companies should distribute the remaining assets only after settling business debts.
Process for Handling Assets
There is also a process for handling the assets of your New Mexico LLC. This includes distributing the assets to the members, selling the assets, or donating the assets to a charity.
Any remaining assets should be distributed to the company's members in proportion to their ownership interests.
Potential Legal Consequences
If you do not dissolve your New Mexico LLC properly, you could face some serious legal consequences. This includes being held personally liable for any outstanding debts or obligations of the company.
Contact the New Mexico Secretary of State
If you need to clarify any of the information on this page, you can contact the New Mexico Secretary of State at:
Mailing Address
New Mexico Public Regulation Commission Corporations Bureau P.O. Box 1269 Santa Fe, NM 87504-1269
Physical Address
New Mexico Public Regulation Commission Corporations Bureau filing desk P.E.R.A. Building, Room 413 1120 Paseo de Peralta Santa Fe, New Mexico 87505
Phone Number
(505) 827-3600
Email Address
[email protected]
Website
https://www.sos.nm.gov/
Next Steps
When you have completed the dissolution process for your New Mexico LLC, you should also notify the IRS that you are no longer in business. You can find information on how to do that at the following link:
https://www.irs.gov/businesses/small-businesses-self-employed/closing-a-business
You should also make sure to cancel any business licenses or permits that your LLC may have.
Conclusion
We hope this guide has helped you understand the process for dissolving your New Mexico LLC. If you have any questions, please contact a local attorney for assistance. While not required, it can be helpful to have a lawyer assist you with the dissolution process.
Recommended Dissolution Service
Save hours of your valuable time by using a dissolution service to close your LLC.
It's hard to pick just one service that will be suitable for every business dissolution need.
However, in our experience, Bizee, formerly IncFile, offer the best and most reliable service for the majority of LLC companies that need to be closed.
IncFile has a fantastic track record will guide you through the entire process.
Try Bizee Now →