New Mexico Entity Withdrawal Information
Withdraw Your Entity from New Mexico
Withdrawal is the process of closing out the foreign registration of an entity. Depending on the current status of your business or organization, this process varies. See the table below for more information on filing a withdrawal in New Mexico.
For Foreign Corporations:
Agency: | New Mexico Secretary of State - Business Services Division |
Filing Method: | |
Agency Fee: | $50 |
Notarization Required?: | Not required |
For Foreign Limited Liability Companies:
Agency: | New Mexico Secretary of State - Business Services Division |
Filing Method: | |
Agency Fee: | $25 |
Notarization Required?: | Not required |
For Foreign Nonprofit Corporations:
Agency: | New Mexico Secretary of State - Business Services Division |
Filing Method: | |
Agency Fee: | $10 |
Notarization Required?: | Not required |
Frequently Asked Questions
Why do I need to withdraw my entity?
Companies that no longer provide service in a state sometimes allow their legal registration to lapse, resulting in a loss of good-standing. Entities that lose good-standing may find themselves subject to local taxes and penalty fees despite having ceased operations in that state. Filing withdrawal paperwork with the state closes your entity’s foreign registration cleanly, and reduces your risk of penalties, as you wrap up affairs in that state.
What is tax clearance?
Depending on your state, and the type of entity you are withdrawing, you may be required to obtain tax clearance from the state’s Department of Revenue or taxation authority. If this is required, you can add this to your service, and a Harbor Compliance specialist will obtain tax clearance for your business.
Withdrawal vs. Dissolution
The term "withdrawal" typically refers to entities who are winding up affairs in a foreign state. If you have a domestic entity, and wish to wrap up affairs in your home state, you will "dissolve" your legal entity. For more information on dissolving your domestic entity, please visit our dissolution page.