Steps to Dissolve a Business in New Mexico
To dissolve a business in New Mexico, submit articles of dissolution to the Secretary of State. This form has a $25 filing fee. You may need to complete other tasks before dissolution, depending on your business.
Preparing for Dissolution
If dissolving in 2023, take steps beforehand like settling accounts. Proper support is crucial when dissolving in New Mexico. This eases transition for customers and employees.
Additional Considerations
Remaining obligations or assets must be dealt with before officially dissolving an LLC. To close your sales tax permit, complete form ACD-31015 or request cancellation through New Mexico’s Taxpayer Access Point.
Domestic corporations operate in their home state while foreign ones operate abroad. Dissolving corporations should request a Certificate of No Tax Due and contact the Secretary of State. If purchasing a business, request a Certificate of No Tax Due to avoid liability for taxes owed by the seller. Use form ACD-31096 Tax Clearance Request.
A dissolved business’s name becomes available for others after a period. Specific rules vary. Trademarks or potential confusion may still restrict use.