Form Your New Mexico S Corporation
Incorporate in the Land of Enchantment for $100, then elect S-corp status to unlock pass-through taxation and payroll-tax savings - with no state franchise tax and fast 1-3 day filing
Filed in New Mexico
The Land of Enchantment · NM
- State filing fee$100
- Processing time1-3 business days (online)
- Our formation feeFree (you pay $100 if you choose a paid plan)
- Annual report$25 biennial report — due Every 2 years, by 15th day of 3rd month
- State tax rate4.8%-5.9% graduated corporate income tax
Form your New Mexico S-Corp — pay only the state filing fee, nothing more.
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Everything to launch your New Mexico S-Corp
Free formation means you pay only the $100 state filing fee. All core services are included at no extra charge.
Articles of Incorporation filing
We prepare and submit your Articles of Incorporation to the New Mexico Secretary of State.
Registered agent
Required in New Mexico — we act as your agent for the first year.
EIN from the IRS
Your federal Tax ID — required to open a US business bank account and file taxes.
Corporate bylaws
Professionally drafted corporate bylaws — defines ownership, voting, and profit splits.
Benefits of forming an S-Corp in New Mexico
New Mexico is a cost-effective home for an S corporation, pairing a low $100 incorporation fee with no state franchise tax and only a $25 biennial report, while the state's 4.8%-5.9% graduated corporate income tax applies at the entity level only to income the S-corp does not pass through. Its growing film, aerospace (Spaceport America), and national-laboratory sectors give owner-operators who want to optimize payroll-tax savings on distributions a stable, affordable base.
Pass-through taxation - profits flow to your personal return, avoiding the corporate-level double tax
Self-employment tax savings - only your reasonable W-2 salary is subject to payroll tax, not distributions
Low $100 state filing fee to incorporate with the New Mexico Secretary of State
Fast 1-3 business day online processing for your Articles of Incorporation
No state franchise tax and a modest $25 biennial report keep ongoing costs low
Strong liability protection separating personal and business assets
Access to New Mexico's growing film, aerospace, and national-laboratory economy
Build credibility with a formal corporate structure and defined shareholder ownership
Key features of a New Mexico S-Corp
- Pass-through taxation with no entity-level federal income tax
- Payroll-tax savings on profit distributions above a reasonable salary
- Low $100 incorporation fee with the New Mexico Secretary of State
- No state franchise tax and only a $25 biennial report to maintain good standing
- 1-3 business day online filing processing
- Single class of stock and up to 100 US-resident shareholders
Major industries in New Mexico
Form your New Mexico S-Corp in 6 steps
We handle every step while you stay in the loop. Processing takes 1-3 business days (online).
- 01
Choose Your Corporation Name
Your name must include a corporate designator such as 'Corporation,' 'Incorporated,' 'Company,' or an abbreviation like 'Corp.' or 'Inc.' Check availability through the New Mexico Secretary of State's business search before filing.
- 02
Appoint a Registered Agent
Unlike New Mexico LLCs, corporations must designate a registered agent with a physical New Mexico address to accept legal and state correspondence on the company's behalf.
- 03
File Articles of Incorporation
Submit your Articles of Incorporation to the New Mexico Secretary of State with the $100 filing fee. Online filing typically processes in 1-3 business days. This creates the corporation - the S-corp is a tax election that comes next.
- 04
Obtain an EIN and Hold the Organizational Meeting
Apply for a free EIN from the IRS, then adopt bylaws, appoint directors, and issue stock. The corporation must have only one class of stock to remain S-corp eligible.
- 05
File IRS Form 2553 to Elect S-Corp Status
File Form 2553 with the IRS within 75 days of incorporating (or by March 15 to apply for the current tax year) to elect S corporation tax treatment. All shareholders must sign.
- 06
Register for New Mexico State Taxes
Register with the New Mexico Taxation and Revenue Department for the Gross Receipts Tax and any payroll tax obligations, since you'll run a reasonable W-2 salary through payroll.
New Mexico S-Corp costs at a glance
Kicker formation is free — you pay only the required state fees. No hidden charges.
New Mexico S-Corp requirements checklist
Everything you need to form and maintain a New Mexico S-Corp in 2026.
- File Articles of Incorporation with the New Mexico Secretary of State ($100)
- Appoint a New Mexico registered agent with a physical in-state address
- Obtain an EIN from the IRS
- Adopt corporate bylaws, appoint directors, and issue a single class of stock
- File IRS Form 2553 within 75 days of formation to elect S-corp status
- Limit ownership to 100 or fewer shareholders who are US citizens or residents
- Pay each owner-employee a reasonable W-2 salary before taking distributions
Filing information
- Formation document
- Articles of Incorporation
- Filing agency
- New Mexico Secretary of State
- Registered agent
- Required
- Corporate bylaws
- Recommended
- EIN
- Required
- Name reservation fee
- $20 (120 days)
Free formation — pay only the state fee
Kicker formation is free. You pay the $100 New Mexico state filing fee and nothing more for the Starter plan. Optional plans add registered agent, EIN, corporate bylaws, and compliance.
Starter
- Articles of Incorporation filing
- Name availability check
- Digital document delivery
- Formation status tracking
Booster
- Everything in Starter
- Registered agent (required in New Mexico)
- EIN / Federal Tax ID
- Expedited processing (1–2 days)
- Corporate bylaws
- Priority support
- Kicker Voice — 3-day free trial
- Kicker Pay — free for 15 days
Founder
- Everything in Booster
- Business mailing address
- Bookkeeping — 3 months free
- Dedicated account manager
- Rush processing
- Kicker Voice — 6-day free trial
- Kicker Pay — free for 30 days
Kicker
- Everything in Founder
- ITIN filing & preparation
- Same-day priority processing
- 2nd year annual filing $0
- Kicker Voice 12-day + Kicker Pay 60 days free
Compare all plans on our pricing page.
New Mexico S-Corp questions, answered
Common questions about forming an S-Corp in New Mexico. Can't find an answer? Talk to our team.
How do I form an S corporation in New Mexico?
An S corporation is a federal tax election, not a separate state entity. You first incorporate by filing Articles of Incorporation with the New Mexico Secretary of State for $100, then file IRS Form 2553 to elect S-corp tax treatment. Online incorporation typically processes in 1-3 business days.
How much does it cost to start an S corporation in New Mexico?
The state charges $100 to file your Articles of Incorporation with the New Mexico Secretary of State. There is no state franchise tax, and ongoing maintenance is just a $25 biennial report. Electing S-corp status with IRS Form 2553 is free.
What is the deadline to file Form 2553 for my New Mexico corporation?
File IRS Form 2553 within 75 days of incorporating to have the election apply from day one. For an existing corporation, file by March 15 to elect S-corp status for the current tax year. All shareholders must sign the form.
How does an S corporation save on taxes in New Mexico?
S-corp profits pass through to your personal return, avoiding the corporate-level double tax. You pay yourself a reasonable W-2 salary subject to payroll taxes, and remaining profits taken as distributions are not subject to self-employment tax - the core savings. New Mexico's 4.8%-5.9% state income tax still applies to pass-through income.
Who is eligible to own a New Mexico S corporation?
S corporations are limited to 100 or fewer shareholders, all of whom must be US citizens or residents - foreign owners are not eligible. The corporation may have only one class of stock. If you need foreign investors or multiple stock classes, a standard C corporation or LLC is the better fit.
Does a New Mexico S corporation need to file an annual report?
New Mexico corporations file a biennial report (every two years) with the Secretary of State, with a $25 fee, due by the 15th day of the third month after the close of the fiscal year. There is no state franchise tax.
Does my New Mexico S corporation have to file a BOI report?
Under FinCEN's March 2025 interim final rule, US domestic entities and US persons are exempt from Beneficial Ownership Information reporting. Only foreign-formed entities registered to do business in a US state must file, so a New Mexico-incorporated S corporation owned by US persons does not.
What taxes apply to an S corporation in New Mexico?
There is no state franchise tax. New Mexico levies a 4.8%-5.9% graduated corporate income tax, though S-corp income generally passes through to shareholders' personal returns. Businesses also register for the Gross Receipts Tax with the Taxation and Revenue Department, and owner-employee salaries run through payroll.
New Mexico government filing resources
Filing fees for common S-Corp services
Official New Mexico state charges for the filings you may need after formation — our service fee is separate, and we confirm the current amount before filing.
Filed as 'Application for Name Reservation' under Other Filings in the SOS Enterprise portal (form confirmed in the official Business Online Filing Help PDF).
In New Mexico the good-standing document is the 'Certificate of Status Filing' (verifies the status of a registered business entity).
Learn more$25 flat for certified, file-stamped copies of business filings via 'Business Certified Copies Request Filing' (NOT per page.
$3.00 per document for a certification of appointment or apostille.
NMSA 53-2-1: filing an application for a certificate of authority of a foreign corporation = $1.00 per 1,000 authorized shares represented in New Mexico, MINIMUM $200,…
Learn moreNew Mexico levies a gross receipts tax (not a conventional sales tax) and issues NO traditional resale permit/seller's permit.
Learn moreAmends the Articles of Incorporation for a domestic profit corporation.
Learn moreNMSA 53-2-1: filing a statement of intent to dissolve, a statement of revocation of voluntary dissolution proceedings, or articles of dissolution = $50.00 each.
Learn moreEverything you need to run your New Mexico S-Corp
Formation is the first step — stay compliant and operational with these services.
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Formation is free — you pay only the $100 New Mexico state filing fee. Personal-asset protection, pass-through taxation, and a complete document package, filed in 1-3 business days (online).
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